The mergers and acquisitions round up
It’s Friday again, which means it’s time to catch up on all the mergers and acquisitions news. Here’s what went on this week:
LinkedIn has bought talent acquisition startup Careerfiy. Harpaul Sambhi, founder and CEO of Careerify, stated, “We decided to join LinkedIn due to what we lacked – massive scale. More than 30,000 companies across the globe leverage LinkedIn for recruitment, and with more than 347 million members, LinkedIn offers an opportunity to make a much larger impact on job seeking and hiring. We are absolutely thrilled to be joining LinkedIn to accelerate our technology and connect talent with opportunity on a massive scale.” He added that Careerify will be focusing on improving its employee referral software for existing customers, and will not be taking new customers on board. Its employer branding and internal mobility products will be closed down.
Cheetah Mobile, a Chinese internet mobile company providing internet security services, has acquired French mobile advertising company MobPartner. Cheetah’s CEO, Sheng Fu, said MobPartner’s expertise in the global mobile advertising market will allow Cheetah to expand globally.
Djamel Agaoua, CEO of MobPartner, said about the acquisition in a statement, “We also share a common vision on how to maximize mobile advertising return on investment around the world and therefore this deal became a natural evolution and extension of our business. Cheetah Mobile enables us to strategically accelerate our growth by increasing both our traffic and product offerings. In addition, MobPartner enables Cheetah Mobile to accelerate its international expansion strategy.”
Chinese online ratings and deals site Dianping has acquired the online to offline education service Haizixue, which helps parents, students, and teachers connect. Haizixue will continue to operate independently, though its Lu Guangyu has joined Dianping as COO.
TechInAsia reports that Nintendo has bought a 10 percent stake in the Japanese tech company DeNA for US$181 million. The acquisition is part of a partnership which will see the joint development of gaming applications for various gaming devices using Nintendo’s intellectual property and the joint development of a new multi-device membership service. The deal also sees DeNA acquire 1.24 per cent of Nintendo’s shares.
Forbes has acquired the private cloud based photo sharing network Camerama, with the startup’s founder Salah Akram Zalatimo becoming vice president of mobile products at Forbes. He will be in charge of building a platform of apps for the company, leveraging Camerama’s core technology. Zalatimo said in a statement, “What attracts me to Forbes is the bold and visionary management team that has embraced the transition from traditional to digital media. While many companies continue to struggle, Forbes has thrived.”
Lewis D’Vorkin, chief product officer at Forbes, stated, “Salah brings with him a unique set of skills, experiences and assets. He’s been a founder of a business, he has the technical know-how and the data-driven mindset that will help Forbes expand its growth in mobile apps. Our goal is to build passionate communities under the Forbes umbrella – the kind that marketers want to reach and that generate valuable and relevant content.”
London e-commerce firm Market Tech Holdings has acquired a stake in Berlin’s Glispa for $77 million. Glispa, a digital marketing and advertising company, will use the funds to further is global expansion and bolster its technology, while complementing Market Tech’s existing portfolio of ecommerce and tech companies. Charles Butler, chief executive of Market Tech, said in a statement, “We see the future of online retail being via mobile devices and Glispa’s proprietary technologies are at the cutting edge of m-commerce, helping businesses interact with their customers on the go.”