Monthly Current Affairs January 2016 “MERGERS & ACQUISITIONS” key points to Remember.
Quikr acquired online real estate portal
Online classifieds firm Quikr India Pvt. Ltd, one of India’s most valuable start-ups, bought real estate portal CommonFloor in a distress sale orchestrated by Tiger Global Management Llc, the influential US-based hedge fund that is an investor in both. Quikr, valued at an estimated $1 billion, and CommonFloor (maxHeap Technologies Pvt. Ltd) didn’t disclose the terms of the transaction, but two people familiar with the matter said Quickr paid $120 million in an all-stock deal. The people spoke on condition of anonymity.
Nepal proposes 4-member EPG to review agreements with India
Ahead of Nepalese Prime Minister K P Oli’s maiden visit to India next month, the government has proposed formation of a four-member Eminent Persons’ Group or EPG to review the existing bilateral agreements with India including the strategic Peace and Friendship Treaty of 1950.
India, Israel to intensify counter terrorism coordination
Stating that India and Israel face challenges of terrorism, the two countries on January 19 agreed to intensify coordination to deal with the menace. External Affairs Minister Sushma Swaraj met top Israeli leadership and discussed a wide-range of bilateral and regional issues. Swaraj, who is on her first visit to West Asia as the External Affairs Minister, called on President Reuven Rivlin and Prime Minister Benjamin Netanyahu and other top leaders.
Naseem Al-Bahr – India-Oman joint naval exercise from January 22
India and Oman will hold a joint naval exercise in the Arabian sea, focusing on greater interoperability to counter maritime security challenges. The 10th edition of the exercise ‘Naseem Al-Bahr’ will take place from January 22 to January 27. It began first in 1993 and aims to increase interoperability among the two navies and develop common
understanding and procedures for maritime security operation. An Indian Navy ship had last year visited Oman in a goodwill visit as part of India’s strategy to develop relation with the countries in the region.
MoU between India and UK in Public Administration and Governance Reforms
The Union Cabinet, chaired by the Prime Minister Narendra Modi has given its expost facto approval for the Memorandum of Understanding (MoU) signed in November, 2015 between India, and United Kingdom for Cooperation in Public Administration and Governance Reforms. The form of co-operation under the MoU will be in areas like sharing good governance practices in public administration, User led service design, Reducing bureaucracy in service delivery, Government Process Re-engineering, Building and developing staff capability, Public Grievance Redress Mechanism, Local Government Reforms, Reforms towards strengthening of social security, Collaboration in strategies for promotion of ethics in Government, Collaboration between Government and Industry on staff management, Mechanisms for public engagement, Crisis and Disaster Management and Digital transformation
of Government.
Apple acquires educational startup Learnsprout
Apple has acquired education-technology startup LearnSprout, which creates software for schools and teachers to track students’ performance. LearnSprout is a three-year-old, San Francisco-based software startup whose online data insights help K-12 educators track students’ performances. The company had raised $4.7 million from investors across two rounds, including Andreessen Horowitz, Formation 8, and Samsung Ventures.