Here is a list of deals that happened in Indian Startup Ecosystem today. Read a brief description about all of them:
1. Mumbai-based software firm Datamatics Global Services Ltd has entered into a definitive agreement to acquire a controlling stake in mobile and web application development company Techjini Solutions Pvt. Ltd, based in Bangalore and New Jersey, US.
Datamatics will acquire 71.1% stake in TechJini for $6 million (Rs 39.1 crore) in an all-cash deal before the end of the month, it said in a BSE filing. It has already acquired board control of TechJini, the filing shows.
Post acquisition, Datamatics is looking to strengthen its mobility offerings with TechJini’s range of smart technology solutions.
2. Global technology giant Microsoft has signed a definitive agreement to acquire Cloudyn, an innovative company that helps enterprises and managed service providers optimize their investments in cloud services. While the financial details of the deal were not disclosed, it is reported to be around $50 million-$70 million. According to a company statement, Infosys has agreed for divestment of its entire investment in Cloudyn for a total consideration of approximately $4.4 million. In August last year, Infosys has invested $4 million to pick up a minority stake in Cloudyn marking the Bengaluru-headquartered firm’s second investment in an Israel-based cloud-computing start-up from the company’s $500 million innovation fund.
3. ZineOne Inc, an event-driven interactions platform powered by artificial intelligence (AI), has raised $2.5 million (around Rs 16 crore) led by New York-based Golden Seeds Angels and Hyderabad Angels. A bunch of angel investors also participated in the round.
The company is looking to use the funds to enhance its offerings in the field of machine learning and artificial intelligence for customer interactions across digital channels and devices, as reported by VCCircle.
In addition, ZineOne named Venkat Rama Mohan Reddy, Hyderabad Angels’ advisory board member, as a director.