India Dealbook: BMS, Datamatics in acquisitions; ICEX, NMCE merge

Photo: Mint

BookMyShow (BMS) has acquired local food and restaurant recommendation engine Burrp, Datamatics to buy controlling stake in app development firm TechJini even as National Multi Commodity Exchange (NMCE) will merge with Indian Commodity Exchange (ICEX).

BookMyShow acquires Burrp from Network18

Bigtree Entertainment Pvt. Ltd, which runs ticket booking platform Bookmyshow.com, has acquired Mumbai-based local food and restaurant recommendation engine Burrp in an all cash deal from Network18.

The acquisition includes Burrp’s key assets like employees and existing restaurant partnerships, the company said in a statement.

This investment has been made to Foodfesta Wellcare Pvt. Ltd, a subsidiary of BigTree Entertainment.

Founded in 2006 by Deep Ubhi and Anand Jain, Burrp was acquired by Network18 in 2010 for $656k (Rs 4.25 crore). It helps people discover eating joints around them. The company claims to have listed over 60,000 restaurants across 14 cities.

For BookMyShow, this is the third acquisition since January this year. In February, it acquired 75 per cent stake in Pune-based Townscript for an undisclosed amount. Before that in January, it bought Hyderabad-based ticketing portal MastiTickets in an all-cash deal.

Datamatics buys app development firm TechJini

Datamatics Global Services Ltd has agreed to acquire a controlling stake in Bangalore-headquartered TechJini, a boutique mobile and web application development company for $6 million (Rs 39.1 crore) in an all-cash deal before the end of the month, according to a stock market disclosure.

The acquisition will help Datamatics further strengthen  mobility offerings through TechJini’s range of smart technology solutions.

“Enterprise mobility has gained significant momentum with companies adopting mobile first as a core strategy for their business and cloud platforms. Partnering with TechJini will further enhance our service in the mobility space and create a niche that will help us gain a competitive advantage,” Rahul Kanodia, vice-chairman and chief executive officer of Datamatics.

Bangalore and US-based TechJini was founded in 2005 by Shyamal Mehta and Amit Rana. The company works on diverse application development projects across iOS, Android and Windows Phone It claims to serve over 35 clients from domains such as media, engineering and manufacturing.

Datamatics is a global provider of consulting, information technology (IT), data management and business process management services to several Fortune 500 companies.

Datamatics’s scrip last exchanged hands at Rs 104.50 each, up 1.16 per cent on BSE in a strong Mumbai market on Monday.

ICEX to merge with NMCE to create commodity exchange

National Multi Commodity Exchange (NMCE) will merge with Indian Commodity Exchange (ICEX) to create the country’s third-largest commodity exchange, as per a statement.

This is subject to regulatory approval and is expected to be complete by December 2017.

As per the deal, shareholders of ICEX will own a 62.8 per cent stake in the merged entity while the remaining 37.02 per cent will be held by shareholders of NMCE.

The shareholders will include MMTC, Indian Potash, Krishak Bharati Cooperative (Kribhco), IDFC Bank, Reliance Capital, Indiabulls Housing Finance, Punjab National Bank, Bajaj Holdings, Central Warehousing Corporation (CWC) and Gujarat Agro Industries.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.