Tag: Acquisition

Singapore – Data and AI company Databricks announced that it has agreed to acquire Arcion, a Databricks Ventures portfolio company that helps enterprises quickly and reliably replicate data across on-prem, cloud databases and data platforms. 

This acquisition of Arcion will enable Databricks to provide native solutions to ingest data from various databases and SaaS applications into the Databricks Lakehouse platform, with a transaction valued at over $100 million, inclusive of incentives.

In turn, the acquisition will enable Databricks to natively provide a scalable, easy-to-use, and cost-effective solution to ingest data from various enterprise data sources. Building on a scalable change data capture (CDC) engine, Arcion offers connectors for over 20 enterprise databases and data warehouses. 

Furthermore, the integration will simplify ingesting such data either continuously or on-demand into the lakehouse, fully integrated with the enterprise security, governance, and compliance capabilities of the platform.

Talking about the agreement, Ali Ghodsi, co-founder and CEO at Databricks, said, “Arcion’s highly reliable and easy-to-use solution will enable our customers to make that data available almost instantly for faster and more informed decision-making. Arcion will be a great asset to Databricks, and we are excited to welcome the team and work with them to further develop solutions to help our customers accelerate their data and AI journeys.”

Meanwhile, Gary Hagmueller, CEO of Arcion, commented, ”Arcion’s real-time, large-scale CDC data pipeline technology extends Databricks’ market-leading ETL solution to include replication of operational data in real-time. Databricks has been a great partner and investor in Arcion, and we are very excited to join forces to help companies simplify and accelerate their data and AI business momentum.”

Melbourne, Australia – Australian firm Digital Classifieds Group has announced the acquisition of online property marketplace Lamudi in the Philippines and Indonesia. This follows DCG’s recent acquisition of the Bangladeshi property marketplace portal Bproperty in January this year.

The consolidated group now operates real estate portals in 5 high-growth Asian markets, including Indonesia, the Philippines, Bangladesh, Cambodia, and Papua New Guinea and will see its global workforce grow to more than 900 staff.

The acquisition marks a major transition for DCG, having rapidly expanded over the last 12 months into Bangladesh, and now Indonesia and the Philippines. 

For the firm, with Southeast Asia expected to grow strongly in the next 5-10 years to become a leading region globally, and with market-leading portals in countries accessing over 600 million people, DCG is strongly positioned for growth in the coming years.

Mathew Care, group CEO at DCG, said, “Lamudi, under the stewardship of the dubizzle Group and the management team, have created dominant classifieds and transactional property marketplaces in two of Asia’s most exciting markets: Indonesia and the Philippines.”

He added, “Our vision is to build a market leading classifieds group in South East Asia, a region of incredible opportunities, and this acquisition is a catalyst to delivering this vision. I am incredibly excited to enter these markets and welcome the Lamudi team to the DCG family.”

Meanwhile, Kian Moini, founder and CEO at Lamudi, commented, “DCG and Lamudi have shared a similar vision for many years; to provide the best and most trusted platform to transact property in their respective markets. Both companies have delivered on this promise, and I’m confident that Lamudi will continue to achieve new highs under DCG. This is an exciting new chapter for Lamudi and our staff.”

USA – Tech giant Microsoft has finally acquired video game company Activision Blizzard for US$69b after finally being greenlit by regulators in the United Kingdom (UK). With this acquisition, game titles such as Call of Duty, World of Warcraft, Overwatch, and Candy Crush Saga will now be under Microsoft’s Xbox brand.

In a public statement by Phil Spencer, CEO at Microsoft Gaming, he said that they will be intentional about inclusion in everything they do at Xbox – from their team to the products they make and the stories they tell, to the way their players interact and engage as a wider gaming community.

“Together, we’ll create new worlds and stories, bring your favourite games to more places so more players can join in, and we’ll engage with and delight players in new, innovative ways in the places they love to play including mobile, cloud streaming and more,” he said.

He also added that they will also start the work to bring beloved Activision, Blizzard, and King franchises to Game Pass and other platforms. They will also share more about when customers can expect to play these games in the coming months. 

“For the millions of fans who love Activision, Blizzard, and King games, we want you to know that today is a good day to play. You are the heart and soul of these franchises, and we are honoured to have you as part of our community. Whether you play on Xbox, PlayStation, Nintendo, PC or mobile, you are welcome here – and will remain welcome, even if Xbox isn’t where you play your favourite franchise. Because when everyone plays, we all win,” he added.

Microsoft’s plans to acquire Activision Blizzard first started in January 2022. The proposed merger was reviewed by many regulatory commissions worldwide, with early grants given by the European Commission and China’s State Administration for Market Regulation (SAMR).

Initially, United States’ Federal Trade Commission (FTC) and the UK’s Competition and Markets Authority (CMA) had challenged the merger before FTC backing out its challenge, with US courts saying it did not find their anti-trust compelling to block the merger.

Manila, Philippines – Mynt, the fintech arm of Globe, has announced that it is fully acquiring payment system provider ECPay. Through the acquisition, Globe Telecom is now selling its previously-acquired 77% stake in ECPay to Mynt. ECPay’s minority stakeholder, Payment One, is likewise a party to the agreement.

Upon closing of the transaction, ECPay will have access to GCash’s platform, enabling ECPay to better traverse the ever-evolving digital landscape to which GCash is a leader in. As for Mynt, it is expected to better harmonise the capabilities of both ECPay and GCash. The acquisition will help GCash provide best-in-class services in the fintech space and further democratize financial access.

Ernest L. Cu, president and CEO at Globe, shared, “GCash’s meteoric rise to become one of the top fintech brands and the aggressive expansion of its financial services have created a perfect environment for strategic synergies with ECPay. Mynt’s acquisition of ECPay will enable more efficient and effective sharing of each other’s strengths and resources, thus creating a seamless and upgraded experience for their customers.”

Meanwhile, Rizza Maniego-Eala, chief financial officer at Globe, commented, “Mynt’s digital savviness will spill over to ECPay, maximising its previously untapped potential. GCash, on the other hand, can further differentiate itself from its competition as mobile wallets in various shapes and sizes continue to pop up. With ECPay in Mynt’s capable hands, Globe can better steer its ventures and synergistically grow the entire Globe Group ecosystem.”

ECPay is a leading electronic payment service provider in the Philippines and was previously acquired by Globe in 2019 to enhance its distribution network. The ECPay Platform enables merchant partners to process bill payments, electronic prepaid mobile phone top-up loading, electronic pins, e-wallet and cash card reloading, airline ticket payments, online shopping payments, and credit card payments in their various outlets.

Manila, Philippines – Food cart business holdings group Fruitas Holdings has announced that it is acquiring the kitchen facilities of foodpanda Philippines to accelerate the company’s own cloud kitchen business Fly Kitchen.

In a recent stock disclosure by Fruitas Holdings, Fruitas Holdings said that Fly Kitchen is now able to expand its menu with new methods, processes, and flavors through this business acquisition.

This will also open the door for the company to collaborate with and prepare third-party brands which would fit well with its present cloud kitchen operations.

Additionally, the advanced kitchen equipment will give Fly Kitchen the freedom to experiment with new recipes for its loyal consumers and new customers.

Lester Yu, president and chief executive officer at Fruitas Holdings, said, “We are pleased to announce this tactical purchase of top-quality kitchen equipment from Foodpanda. This decision reflects our dedication to providing outstanding gastronomic experiences to our patrons.”

Some of the brands that Fruitas Holdings operates include Fruitas Fresh from Babot’s Farm, Buko Loco, Buko ni Fruitas, De Original Jamaican Pattie, Johnn Lemon, Juice Avenue, Black Pearl, Friends Fries, The Mango Farm, 7,107 Halo Halo Islands, Tea Rex, Kuxina, SHOU La Mien Hand-Pulled Noodles, Sabroso Lechon, Soy & Bean, and Ling Nam.

On a recent note, it is worth noting that Delivery Hero, the parent company of foodpanda, has announced plans earlier this year that is selling some of its businesses across select markets in Southeast Asia.

India – Local pharmaceutical company Lupin has acquired five brands under the Italian pharmaceutical company Menarini. The brands include Piclin, Menoctyl, Sucramal O, Pyridium, and Distaclor. These legacy brands will help Lupin in further enhancing its diverse portfolio and solidifying its position as a leading pharmaceutical organisation in India.

Lupin has been exclusively marketing these brands in the Indian market since July 2021 under a distribution and promotion agreement with A. Menarini India Private Limited. This strategic acquisition for the Indian market marks a significant step forward for Lupin as it continues to expand its presence in India.

Nilesh Gupta, managing director at Lupin, said, “This acquisition aligns well with our strategic goal to broaden our presence in the Indian market. By offering a comprehensive range of products, our aim is to deliver even greater value to our stakeholders and the communities we serve.”

Meanwhile, Girisan Kariangal, managing director at Menarini India, commented, “Lupin has been successfully marketing the scope brands for Menarini since 2021, which has been a testament to our evolved collaboration. I am happy that Lupin will now carry forward their legacy with full trademark ownership.”

He added, “For Menarini, this transaction further signals our continued commitment to nurture and expand our Dermatology and Aesthetics portfolio and business. Menarini is a top 10 multi-national company in this therapeutic area in India and has witnessed strong organic and inorganic growth.”

Singapore – Asian gaming company Ampverse has announced the acquisition of Singapore-based gaming startup Championfy, which includes the startup’s .technology and IP assets. Said acquisition will help innovation within Ampverse Labs, cementing Ampverse’s position as a pioneering force in the realm of game-tech solutions for brands, fans, gamers and game publishers.

Some of the offerings that will be boosted include a proprietary gamification platform, an innovative reward system, and a robust gaming product marketplace.

Championfy, founded by Zad Ngor and Saurabh Sharma, industry veterans with previous roles at companies such as Google and Grab, had carved out a niche as a trailblazer in the gaming technology sphere.

Sascha Jochum, director of Web3 and Ampverse Labs at Ampverse, said, “The amalgamation of Ampverse and Championfy marks a pivotal moment in our journey. With Championfy’s impressive track record of collaborations with esteemed brands such as Razer and Samsung, we are poised to harness their technological prowess to fuel our mission of redefining game-tech solutions in the region.”

Meanwhile Zad Ngor commented, “We are thrilled to become an integral part of Ampverse, you can expect this collaboration to result in innovative products and services that will disrupt the gaming landscape. We share the same vision to connect brands with communities across Southeast Asia and India through immersive experiences and fostering meaningful connections.”

Ampverse Labs has been actively working on the development of new products, including a unique gaming product marketplace, an interactive quest tool, and a dynamic gamification solution. These innovations align seamlessly with Ampverse’s broader objective of leveraging first-party data through advanced technological tools and initiatives. 

Australia – Havas today announces the acquisition of strategic communications consultancy Australian Public Affairs (APA). 

This acquisition will integrate APA within H/Advisors, Havas’s global strategic communications advisory network. This will be H/Advisors’ first owned operation in Australia, with the firm being renamed as ‘H/Advisors APA’.

In line with the continued investment in Havas’ capability across strategic communications and regulated environments, H/Advisors APA’s leading, insight-driven strategic counsel aims to add expertise and geographic reach to the network’s global clients as they continue expansion. It will also further strengthen Havas’ presence in Australia, adding new capabilities to better serve its clients.

The local leadership team from APA that includes CEO Tracey Cain, deputy CEO Phil McCall, and CFO Kathryn Higgs will continue in their roles. H/Advisors APA will be reporting to group CEO of Havas Creative Network Australia, James Wright, while leveraging global connections and opportunities through the H/Advisors network and its leadership.

Speaking on the acquisition, Wright said,  “As the Australian consulting landscape reforms amid recent crises, opportunity is emerging for strong, capable and values-driven global challengers that bring local knowledge and smart thinking.” 

“With complementary skills and alignment, H/Advisors APA will be perfectly positioned to fulfil requirements of corporates, governments and NFPs in need of a new approach. We look forward to integrating Tracey and her team into the Havas Village in the coming months,” he added. 

Meanwhile, Tracey Cain, now the chief executive officer H/Advisors APA, commented,  “For nearly three decades, we have built APA as a high quality, evidence-based firm with expertise in regulated sectors and complex stakeholder environments.” 

“The logical next step for us is to partner with Havas and H/Advisors to expand the services offered and the reach of our client base.  We have ambitious plans and are excited to take the next step with H/Advisors and the broader Havas Group,” she concluded. 

This announcement follows Havas’ November 2022 acquisition of health and pharmaceutical specialist Bastion Brands as part of a strategy to expand capability and increase the group’s specialist advertising and communications offering in the Australian market.

Manila, Philippines – MPT Mobility, the technology arm of Metro Pacific Tollways Corporation (MPTC), has announced the acquisition of Assist and Assistance Concept Inc. (AACI), a company wholly owned by AXA Partners Holding SA.

This strategic move reinforces MPT Mobility Corporation’s commitment to improving the mobility landscape in the country by providing comprehensive technology-based solutions which address transport and mobility challenges and enhance the travel experience of motorists and commuters.

The acquisition also enhances AACI’s market position as a leading player in the roadside assistance market while empowering MPT Mobility Corporation to augment its mobility solutions for key urban centres across the country.

Through the acquisition, AACI will operate under MPT Mobility’s smart mobility solutions division headed by Vice President Mark Richmund De Leon.

Rodrigo Franco, director at MPT Mobility, said, “The acquisition of AACI is a win-win for the parties involved and their respective teams. It enables the provision of service to a broader market, including B2C clients; while bringing MPT Mobility a step closer to its goals of providing an expanded mobility ecosystem centred on improving customer experience.”

Meanwhile, Ronald Carrillo, CEO at AACI, commented, “We look forward to coming under the management and guidance of MPT Mobility. With the combination of our expertise and the MPT Mobility capabilities, our clients will benefit from a holistic mobility ecosystem.”

Taipei, Taiwan – Singaporean bank DBS has announced that it has completed the acquisition of the consumer banking business of Citi in Taiwan. The acquisition was completed over the weekend, according to the company.

With the acquisition of Citi Consumer Taiwan, DBS will become one of Taiwan’s largest foreign bank by assets. DBS Taiwan will have clear market leadership in loans, deposits, cards and investments amongst foreign players in the market. Additionally, close to 3,000 employees from Citi Consumer Taiwan have moved over to DBS.

Speaking about the acquisition, Piyush Gupta, CEO of DBS, said, “Our successful integration of Citi Consumer Taiwan with DBS continues our strategy of building meaningful scale in our core Asian markets. By bringing a prized Citi franchise into our fold, we accelerate our consumer business growth in Taiwan by at least 10 years. Overnight, revenue from the market will more than double to over SGD 1.3 billion.”

He added, “With the transaction, I am also confident that we will be able to provide more value to our customers, in particular, helping them grow their wealth through innovative products, and helping those who are business owners expand into new markets or participate in regional trade flows.”

Meanwhile, Ng Sier Han, CEO of DBS Taiwan, commented, “I am delighted to welcome our new Citi colleagues to the DBS family. Since we announced the transaction back in 2022, we have been working towards a seamless transition of the two businesses. Today marks a momentous milestone for DBS Taiwan, made doubly significant as we celebrate our 40th anniversary in the market.”

He added, “Over the years, DBS Taiwan has made significant strides with new innovations in digital banking and more recently, advancements in sustainability. Our enlarged franchise affords us greater opportunity to continue availing best-in-class products and services to our customers as we set ourselves apart as a different kind of bank – one that enables them to Live more, Bank less.”

The slew of acquisitions in Asia-Pacific also includes UnionBank acquiring the Philippine operations of Citi’s consumer banking business in 2021. This comes over two years after Citigroup announced that it is exiting its consumer businesses in 10 Asia-Pacific markets.