Acquisitions In Indian Startup Ecosystem
Sweden-based free-to-play gaming studios Stillfront Group will acquire Bengaluru-based Moonfrog Labs Private Limited, the company behind popular games like Teen Patti Gold, Ludo Club, Rummy Gold and others. The acquisition will be conducted in four tranches, leading to a 100% takeover.
Online travel and ticketing company Ixigo announced that it will acquire 100% stake in train discovery and booking startup Confirmtkt. The transaction would be a through mix of cash and Ixigo stock. Both companies would continue to operate independently after the transaction.
Other Developments Of The Week
Mumbai-based higher edtech platform upGrad is reportedly in advanced talks to raise $100 Mn from Temasek and World Bank’s International Finance Corporation (IFC) at a valuation of $450 Mn – $500 Mn.