In the latest M&A deals, global cryptocurrency exchange and blockchain platform Binance has acquired Indian bitcoin exchange WazirX while Tulip Diagnostics has acquired Mumbai-based medical devices maker Biosense Technologies.
Binance acquires bitcoin exchange WazirX
Starting November 25, one can buy and sell crypto with Indian rupees (INR) on the Binance Fiat Gateway, the company said in a statement.
In Q1 of 2020, WazirX’s unique auto-matching engine will be integrated into the Binance Fiat Gateway platform itself. Users on Binance.com will be able to directly place orders on Binance.com and the Binance iOS or Android app to purchase Tether (USDT) against INR. This integration will allow users to trade any digital asset available on Binance.com with the purchase of USDT from the WazirX digital asset marketplace, the statement added.
Tulip Diagnostics buys Biosense Tech
Tulip Diagnostics has acquired Mumbai-based medical devices maker Biosense Technologies Pvt Ltd., per a statement. Biosense offers novel in-vitro diagnostics point-of-care testing solutions through its team of 120 employees.
The deal will pave the way for an exit for private equity investors in Biosense including Insitor and Menterra. Other angel and venture capital investors will also exit the company.
Abhishek Sen, Co-founder and CEO of Biosense, “We believe combining our product portfolio with Tulip’s established position as regional and global diagnostics provider, enables us to bring the latest technologies to our customers at an affordable cost.”