The adoption of the acquisition system in reshaping and redirecting corporate strategies has hit an all time high. Businesses today have come to realize the benefits of acquiring startups to aid their productive process compared to the massive amount and delay of establishing internal departments to take care of developments.
Acquisitions are carried out to fulfill various business needs such as access to new products, markets, resources, technology, management talent and many more. They are also pursued to ultimately strengthen an organization’s financial performance as well as their market position in the industry.
Every year, an estimated amount of $2 trillion worth of acquisitions is carried out. The motives for these are mainly centered on increased shareholder value and enhanced market power. The New Year has also brought with it, several high-profile acquisitions in various industries. On this note, we bring you the latest acquisition deals recorded so far in the global spectrum.
Boohoo UK Ltd acquires Debenhams Retail Ltd
Boohoo is an online fashion store specializing majorly in accessories, clothing and footwear. Debenhams on the other hand is a multi-channel brand that manages departmental stores, providing both men and women’s clothing, beauty products, kids wear and homeware products. While this deal will ensure the survival of the name “Debenhams”, about 118 stores remaining in the UK will have to close permanently. Boohoo plans to expand the range of products it sells through Debenhams marketplace by maintaining third-party relationships and expanding even more.
Highlights
Acquisition Amount: £55 million
Date Announced: January 24, 2021
Acquisition Status: Pending
Wattpad Corp acquired by Naver Corporation
The South Korean internet giant, Naver corp. has declared the intention and begun the process of acquiring Wattpad, a digital entertainment company. Upon completion of the deal, both websites will have a “connected ecosystem”. Despite the acquisition, it has been confirmed that Wattpad will remain based in Toronto, Canada and under the management of its founders. Both companies look forward to a successful collaboration in providing optimal services to their combined audience of 160 million users.
Highlights
Acquisition Amount: $600 million
Date Announced: January 20, 2021
Acquisition Status: Pending
TPG acquires Greenhouse Software, Inc.
TPG Growth and The Rise Fund (Both platforms under TPG) have jointly acquired a talent acquisition and software company, Greenhouse Software. TPG made the acquisition to meet several needs including access to new markets, accelerating diversity, equity and inclusion in hiring, speeding up the product innovation process and general expansion of the company.
Highlights
Acquisition Amount: $500 million
Date Announced: January 14, 2021
Acquisition Status: Complete
Nuvia Inc acquired by Qualcomm Technologies
Mobile giant Qualcomm recently began the process of acquiring a CPU startup launched by 2 former senior Apple engineers, Nuvia. The deal incorporates Nuvia’s design and engineering expertise in gaining access to several new categories and markets. According to Qualcomm, Nuvia will deal majorly in Qualcomm’s line of chips and will oversee its 5G-focused Snapdragon line.
Highlights
Acquisition Amount: $1.4 billion
Date Announced: January 13, 2021
Acquisition Status: Pending
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