Friday, 24 March, 2023

Microsoft in talks to acquire a stake in India’s Oyo

<p>Indian hotel chain business Oyo is getting close to finding a new investor in the tech giant&nbsp;Microsoft. Oyo has been valued at $9bn and Microsoft is in the final stages of the negotiations. The deal could also see Oyo shifting to use Microsoft cloud services. The pandemic has brought Oyo&#39;s evaluation by 60% and put them in debt of $660mn. The growth has been slowed and thousands of employees had to be removed.</p>