Pune-based startup Cuelogic technologies have been acquired by L&T Infotech for $8.4mn. This is L&T’s seventh acquisition since 2016. The acquisition will provide L&T with 300+ employees and 100+ products. Cuelogic focuses on cloud-native web and mobile apps. They reported revenue of $5.5 mn in FY21 and work in areas like UX Consulting, DevOps, AI Consulting, IoT, Applications Modernisation, and Cloud Architecture & Integration.
Indian IT service provider Wipro has invested $1.2 mn in Squadcast. In this new venture, Wipro will provide IT incident response and site reliability engineering services to the startup. Wipro will be getting a minority stake of less than 20% in Squadcast and the deal is expected to be completed before 30th June. Squadcast provides services to help enterprises keep services in function. It claims to increase the IT incident recovery speed by four times.
Microsoft is in the final round of talks to acquire AI and speech tech start-up Nuance Communications for $16 bn, as per the Bloomberg News report. The deal could be announced within a week. The price, as the sources quoted by the news report, could value Nuance at about $56 a share. Discussions. however, could still fall apart. Microsoft or Nuance is yet to officially issue a statement or comment on the possible deal.
VMware has acquired Mesh7, a US-based company, for an undisclosed price with the aim to deliver modern apps connectivity services to enable a developer experience for more secure operations, The company, founded by Amit Jain and Pratik Roychowdhury, provide ‘API Security Mesh’ solution empowers information security professionals that capabilities to protect modern, cloud-native apps and microservices against cyber threats and breaches.
PayPal has officially announced its plans to acquire Curv, a cryptocurrency startup based in Tel Aviv, Israel. Curv is a cryptocurrency security company that stores crypto assets and has a cloud-based service. The payment giant has been aggressively venturing into the cryptocurrency space and has partnered with Paxos so that U.S. users can buy, hold and sell cryptocurrencies from their PayPal account.
Wisdom Capital, the brokerage and trading unit of IT services company Wisdom Group, has acquired ImagineSales, a CRM firm. The company is reportedly setting a new entity, called Wisdom CRM which will focus on SME’s. Deb Mukherjee, Founder and Group CEO, Wisdom Group, said, that the company planned to bring CRM software, cloud telephony, AI chatbots with voice command functionality, encrypted data transfer, etc under one roof.
Twitter had talked to acquire ShareChat in order to expand India presence. The American firm is an investor in ShareChat, and offered $1.1 bn in and an additional investment of $900mn for the buyout. Twitter had deliberated to take Moj, a short-form video app with 80mn users, owned by ShareChat, to present it as a global rival to TikTok. ShareChat has raised $260 mn from Lightspeed Partners India, Elevation Capital, India Quotient etc.