Reddit acquires short video platform Dubsmash in cash & stock deal

In a statement social network firm Reddit said, it would acquire TikTok rival short-video platform Dubsmash. Although Reddit did not disclose the financial terms of the deal its spokeswoman said the acquisition was based on a combination of cash and stock. TikTok’s proliferance has led many social media companies to add short-video services to their…

Electronics Arts acquires Codemasters for $1.2 billion

On Monday, computer gaming giant Electronic Arts said, it had agreed to acquire Codemasters for $1.2 billion, trumping an earlier agreement between the British company and rival Take-Two Interactive Software. Under the terms of the agreement, shareholders of Codemasters will receive 604 pence per share, compared with the 485 pence per share Take-Two had offered.

Delaware court rules in investment bank Mirae Asset Daewoo Co’s favour, Anbang Insurance Group to pay $3.685 million in costs

On Tuesday, South Korean investment bank Mirae Asset Daewoo Co Ltd stated, it has won a U.S. lawsuit against China’s Anbang Insurance Group. The development comes in the wake of Mirae Asset affiliates scrapping a $5.8 billion deal to buy 15 U.S. hotels from Anbang, which then had filed a lawsuit against the South Korean…

Visa’s bid to acquire fintech startup Plain Inc facing antitrust review

Visa Inc’s $5.3 billion acquisition of fintech startup Plaid Inc is facing antitrust scrutiny following the U.S. Justice Department filing a court petition on Tuesday demanding more information on the transaction. The DoJ is reviewing the proposed deal to check whether it violates provisions of antitrust law. It has filed a petition with a U.S. district…

Intel sells its NAND chip business to South Korea’s SK Hynix for $9 billion

In a significant development, Intel Corp has agreed to sell its NAND memory chip business to South Korea’s SK Hynix Inc for $9 billion. The all-cash deal will propel the South Korean chipmaker to the second spot in global rankings. The development marks Intel’s efforts to divest its non-core businesse and move away from the volatile commodity…

Property technology startup Opendoor aims to go public, in advanced talks with Social Capital Hedosophia Holdings Corp

According to a report from Bloomberg citing sources with knowledge of the matter at hand, property technology startup Opendoor, is holding advanced talks to go public through a merger with blank-check company Social Capital Hedosophia Holdings Corp. The report states, Social Capital is negotiating with prospective investors to raise fresh equity to help fund its…