Tag: acquires

Amazon acquires Snackable AI to boost podcast offerings

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San Francisco: Amazon has quietly acquired audio content discovery engine Snackable AI to strengthen its podcast features for an undisclosed sum, the media reported.
The Snackable AI team joined Amazon Music to work on existing podcast projects.
Mari Joller, Founder and CEO of Snackable, is now working as an artificial intelligence and machine learning product leader at Amazon, reports The New York Post.

Founded in 2018, Snackable AI specialised in using AI to add structure and metadata to video and audio easily with AI-generated chapters, highlights and more.
Snackable will be working on podcast features offered through Amazon Music.
Prior to its acquisition by Amazon, Snackable had raised a total of $3.1 million from investors.
The deal came as Amazon and other Big Tech firms push to implement AI-driven features in their products in the ChatGPT era.
Inspired by the ChatGPT success, Amazon is now building a large language model (LLM) to power Alexa that’s much larger and much more “generalised and capable”, which is going to rapidly accelerate the vision of offering the world’s best personal assistant.

Amazon CEO Andy Jassy said that ChatGPT is a good example of an application that’s being built.
“We’ll build some of those applications ourselves. So for instance, we think one of the most compelling applications that are going to be built in generative AI have to do with making developers much more effective with coding assistance,” he noted during the company’s latest quarterly earnings call.
“I think there’s a significant business model underneath it,” he added.
“We’ve been investing in building our own large language models for several years, and we have a very large investment across the company,” said Jassy.
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( With inputs from www.siasat.com )

May 6, 2023
Bosch acquires US chipmaker TSI Semiconductors for USD 1.5 billion

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Stuttgart: German conglomerate Bosch on Wednesday said it is acquiring US chipmaker TSI Semiconductors for $1.5 billion and converting its manufacturing facilities to state-of-the-art processes.
With the planned acquisition, Bosch will significantly expand its global portfolio of silicon carbide (SiC) semiconductors by the end of 2030.
Starting in 2026, the first chips will be produced on 200-millimeter wafers based on the innovative material silicon carbide.

“With this planned investment in the US, we are also increasing our semiconductor manufacturing, globally,” said Bosch Chairman Dr. Stefan Hartung.
With a workforce of 250, TSI Semiconductors is a foundry for application-specific integrated circuits, or ASICs.
Currently, it mainly develops and produces large volumes of chips on 200-millimeter silicon wafers for applications in the mobility, telecommunications, energy, and life sciences industries.
“We are pleased to join a globally operating technology company with extensive semiconductor expertise. We are confident that our Roseville (in California) location will be a significant addition to Boscha’s SiC chipmaking operations,” said Oded Tal, CEO at TSI Semiconductors.
At an early stage, Bosch invested in the development and production of SiC chips.

Since 2021, it has been using its own proprietary, highly complex processes to mass-produce them at its Reutlingen location near Stuttgart.
“SiC chips are a key component for electrified mobility. By extending our semiconductor operations internationally, we are strengthening our local presence in an important electric vehicle market,” said Dr Markus Heyn, member of the Bosch board of management and chairman of the Mobility Solutions business sector.
Demand for chips for the automotive industry remains high. By 2025, Bosch expects to have an average of 25 of its chips integrated in every new vehicle.
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( With inputs from www.siasat.com )

April 26, 2023
Zoom acquires employee communications platform Workvivo

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New Delhi: Video-based communications app Zoom has announced it is acquiring Irish employee communications platform Workvivo for an undisclosed sum.
Founded in 2017, Workvivo provides a feature-rich employee experience platform, combining advanced internal communication and engagement tools, a social intranet, and an employee app, all blended into one central hub, forming the heart of a company’s digital ecosystem.
Workvivo’s offering has seen triple-digit growth in the last three years and is used by hundreds of customers worldwide, including Liberty Mutual, Lululemon, Ryanair, Madison Square Garden, and Wynn Resorts.

“The power of Workvivo’s employee experience platform, with its robust communications and engagement offering combined with Zoom’s all-in-one collaboration platform, allows organisations to fully unlock the potential of their employees and evolve their company culture in a hybrid world,” said Kelly Steckelberg, Chief Financial Officer at Zoom.
The employee communication and engagement platform will give Zoom customers new ways to keep employees informed, engaged, and connected in a hybrid work model.
“Our platform replaces outdated, clunky, internal communications tools with a vibrant, familiar social experience, and has a proven history of unparalleled levels of adoption. With Zoom, we can build great things together,” said John Goulding, CEO and co-founder at Workvivo.
Workvivo’s founders John Goulding and Joe Lennon, and the entire Workvivo team, will be instrumental in driving employee experience innovation strategy, said Zoom.
The transaction is expected to close in Q1 FY2024.

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( With inputs from www.siasat.com )

April 15, 2023
Adani Ports acquires Karaikal Port

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Chennai: The Adani group gained a further foothold in the port sector on the eastern coast by acquiring the all-weather deep water Karaikal Port owner Karaikal Port Private Ltd.
The Karaikal Port was acquired by Adani Ports and Special Economic Zone Limited (APSEZ) by submitting a resolution plan which was approved by the Committee of Creditors of the former and by the National Company Law Tribunal, Chennai Bench, Adani Ports said.
As per the Resolution Plan, APSEZ will infuse Rs 1,485 crore for upfront payment to financial creditors.

The decision of the Tribunal shall be binding on the corporate debtor and its employees, members, creditors, directors, guarantors, resolution applicant and other stakeholders involved in the resolution plan, Adani Ports said.
As per the resolution plan, Karaikal Port has allotted 10 lakh equity shares of Rs 10 each to APSEZ aggregating to Rs 1 crore on March 31.
The equity shares issued by Karaikal Port prior to the approval of the Resolution Plan have been cancelled.
With this, Karaikal Port became a wholly owned subsidiary of APSEZ.
Under the resolution plan, APSEZ is to infuse Rs 1,485 crore for upfront payment to financial creditors.

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( With inputs from www.siasat.com )

April 2, 2023
Snap acquires Th3rd that creates digital 3D counterparts of people, products

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San Francisco: Snap, the parent company of Snapchat, has quietly acquired 3D-scanning studio called Th3rd for an undisclosed sum.
A company spokesperson told TechCrunch that four team members from Netherlands-based Th3rd have joined Snap as part of the acquisition.
According to Th3rd’s website, it creates digital 3D counterparts of people or products.
“These high-resolution digital 3D models are your building blocks for huge amount of applications, like photos, videos, visualizations, animations, 360 degree photos, holograms, VR and AR,” reads the description.
Founded in 2014, Th3rd has been investing in AR-powered commerce in recent years and is building out its platform to leverage the technology.
In April last year, it introduced tools that turn retailers’ photos into 3D assets.
Snap has acquired several augmented reality (AR) companies in the last few years.
In May 2021, Snap acquired AR startup WaveOptics that supplied technology to power Snap’s Spectacles AR glasses for $500 million.

In March 2021, Snap acquired Fit Analytics and in July, it acquired 3D and AR commerce company Vertebrae. Last year, Snap disclosed it acquired AR company Forma.
Snap this week launched a new business unit that will offer its augmented reality (AI) solutions to retailers and businesses so they can integrate them into their apps.
The new “Augmented Reality Solutions for Business” (ARES) division will enable businesses to adapt Snap’s AR features for their apps and websites in order to attract customers and create more immersive experiences.
Meanwhile, Snap has introduced its new AI chatbot for Snapchat. It is powered by the latest version of OpenAI’s GPT technology.
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( With inputs from www.siasat.com )

March 25, 2023
Dr. Reddy’s acquires Mayne Pharma’s US prescription portfolio for $105 mn

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Chennai: Indian pharma major, Dr. Reddy’s Laboratories Ltd, through its subsidiary has inked an agreement to acquire the US generic prescription product portfolio of the Australia-based, Mayne Pharma Group Limited, for consideration of about $105 million.
According to Dr. Reddy’s, $90 million will be paid upfront in cash and there will be contingent payments of up to $15 million, towards inventory and credits for certain accrued channel liabilities to be determined on the closing date.
The Indian company said the acquired portfolio of the drugs include 45 commercial products, four pipeline products and 40 approved non-marketed products, including a number of generic products focused on women’s health.
For the financial period ended June 30, 2022, Mayne Pharma reported a total revenue of $111 million for the acquired portfolio.
The value of total addressable market for the pipeline and approved non-marketed products in the US is nearly $3.6 billion for the calendar year ending in December 2022 according to IQVIA, Dr. Reddy’s said.
Approved high-value products include a hormonal vaginal ring, a birth control pill and a cardiovascular product.
The closing of the transaction is subject to satisfactory completion of customary closing conditions, including the applicable waiting period, under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act), as amended.
“This important acquisition provides our North America organisation with a significant foothold in the women’s health space. The acquisition is in line with our stated strategy to enhance our portfolio in our chosen growth markets. We are well-positioned to successfully integrate the portfolio and grow the business,” said Marc Kikuchi, Chief Executive Officer, North America business, Dr. Reddy’s.

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( With inputs from www.siasat.com )

February 27, 2023