Grab tells staff it’s ‘in a position to acquire’ after Gojek merger report

By Chen Lin

logo: A Grab logo is pictured at the Money 20/20 Asia Fintech Trade Show in Singapore

© Reuters/Anshuman Daga
A Grab logo is pictured at the Money 20/20 Asia Fintech Trade Show in Singapore

SINGAPORE (Reuters) – The CEO of Singapore ride-hailer Grab told employees in an internal note on Thursday that the firm is in a position to make acquisitions, following a report it is close to a merger with regional rival Gojek.


Load Error

The two firms have made substantial progress in talks to merge Southeast Asia’s two most valuable startups, Bloomberg reported on Wednesday.

Sources familiar with the matter have previously told Reuters that over the last few years, large investors of the two companies have backed a merger of both loss-making firms.

“There is speculation again about a Gojek deal,” Anthony Tan told employees in a note on the company’s internal communication platform, seen by Reuters.

“Our business momentum is good, and as with any market consolidation rumours, we

Read More

Salesforce to acquire Slack for $27.7 billion amid remote work boom

Cloud computing giant Salesforce said it will acquire workplace messaging service Slack in a deal valued at $27.7 billion.

text: The Salesforce logo is seen at its headquarters on Dec. 1, 2020 in San Francisco.

© Stephen Lam/Getty Images
The Salesforce logo is seen at its headquarters on Dec. 1, 2020 in San Francisco.

Salesforce announced the deal on Tuesday, saying that under the terms of the agreement, Slack shareholders will receive $26.79 in cash and 0.0776 shares of Salesforce common stock for each Slack share. The deal is subject to shareholder approval and expected to close in the second quarter of Salesforce’s fiscal year 2022.


Load Error

Salesforce shares slipped Wednesday, falling 10% in early trading as Slack slipped by about 3%.

The move comes as the pandemic has accelerated demand for remote work and workplace management software, and signals that some believe that workforce shifts could become permanent.

MORE: Salesforce announces layoffs after quarterly revenue tops $5 billion

Salesforce CEO Marc Benioff called it

Read More

Salesforce to acquire Slack for $27.7 billion

Other firms focused on workplace collaboration products, including Airtable, Asana, Box, DocuSign, Dropbox, and Smartsheet, may also be potential targets as highly valued software companies look to roll up the fragmented market for collaboration tools.

The Salesforce deal for Slack shows how competitive the software market has become, said Logan Purk, a senior analyst with financial advisory firm Edward Jones. Without a “game-changing product” and a lot of capital, he said, “you’re going to get swallowed up or you’re going to fail.”

Slack, which was founded in 2010 by Stewart Butterfield, its chief executive, grew quickly and has attracted — and rejected — takeover offers from the likes of Google, Microsoft, and Amazon. Its valuation was about $19.5 billion when it went public last year, but its shares later sank.

Demand for Slack’s products, which allow people to communicate and collaborate with one another, has increased as people work from

Read More

Saudi Arabian Investors To Acquire Stake In SNK

Kotaku EastEast is your slice of Asian internet culture, bringing you the latest talking points from Japan, Korea, China and beyond. Tune in every morning from 4am to 8am.

In 2015, Osaka-based game company SNK was acquired by Chinese investors. Now, it seems, the company has new investors.

Eikichi Kawasaki originally founded the company in 1978 as Shin Nihon Kikaku. Famous for its hardware and fighting games, the company became a giant in the Japanese gaming industry. At Esaka Station in Osaka, where the SNK headquarters used to be, there were signs in its heyday announcing that the location was the home of SNK.

However, in 2000, the company was acquired by a pachinko company and then found its iconic characters farmed out to pachinko machines. By 2015, a Chinese joint venture had acquired SNK, hoping to turn the company into a multimedia juggernaut. The acquisition made sense as

Read More

Energy and Water Development Corp. to Acquire Hamburg Property to Showcase Its CO2-Free Assembling Manufactory

SAINT PETERSBURG, FL, Nov. 23, 2020 (GLOBE NEWSWIRE) — via NewMediaWire — Energy and Water Development Corp. (OTC: EAWD) announces that it signed a Letter of Intent (LOI) to acquire a prolific 16,000 sq. ft. area near the Port of Hamburg to become its new branch in Hamburg, Germany. The property’s location is ideal as a key transportation hub. The German property is situated in a region where EAWD has a comparative advantage of engineering resources and expertise readily available to rapidly build its first CO2-free Assembling Manufactory.

EAWD recently signed several sales agreements to deliver Solar Powered Atmosphere Water Generation Systems (SPAWGs). This European CO2-free assembling manufactory is anticipated to satisfy yearly production of at least 3000 SPAWGs for worldwide export. The technological innovation of these systems is extraordinary and game changing in that they generate their own energy and water supply. 

CEO Ralph Hofmeier stated, “Despite challenges to

Read More