Market leader Ola Cabs buys closest rival TaxiForSure
3 March 2015 11:40 PM GMT
“Furthering its mission to revolutionise personal transportation in the country, Ola announced that it has acquired TaxiForSure for $200 million in a cash and equity deal,” the company said in a statement on Monday.
With this deal, Ola has further deepened its footprint with TaxiForSure’s operator-led model, the company added. Following the announcement, Ola and TaxiForSure will continue to operate as separate entities.
“The leadership and all of the 1,700 employees shall continue to work with TaxiForSure, with Arvind Singhal (currently COO) being appointed the CEO. Aprameya Radhakrishna and Raghunandan G, the founders of TaxiForSure, will contribute in an advisory role for a certain period,” Ola said.
Our own Godrej acquires Frika Hair of S Africa
FMCG firm Godrej Consumer Products Ltd (GCPL) on Monday said it has completed acquisition of South Africa’s hair extensions firm Frika Hair (Pty) Ltd.
“The company has completed the acquisition of 100 per cent of the business of Frika Hair (Pty) Ltd in South Africa,” GCPL said in a BSE filing. In January, GCPL had announced that it entered into an agreement with Frika Hair (Pty) Ltd for the acquisition of 100 per cent equity stake in its hair extensions business in South Africa. GCPL’s Africa business currently has annualised revenues of $200 million.
The company has been acquiring brands, specially in the African continent.
With this deal, Ola has further deepened its footprint with TaxiForSure’s operator-led model, the company added. Following the announcement, Ola and TaxiForSure will continue to operate as separate entities.
“The leadership and all of the 1,700 employees shall continue to work with TaxiForSure, with Arvind Singhal (currently COO) being appointed the CEO. Aprameya Radhakrishna and Raghunandan G, the founders of TaxiForSure, will contribute in an advisory role for a certain period,” Ola said.
Our own Godrej acquires Frika Hair of S Africa
FMCG firm Godrej Consumer Products Ltd (GCPL) on Monday said it has completed acquisition of South Africa’s hair extensions firm Frika Hair (Pty) Ltd.
“The company has completed the acquisition of 100 per cent of the business of Frika Hair (Pty) Ltd in South Africa,” GCPL said in a BSE filing. In January, GCPL had announced that it entered into an agreement with Frika Hair (Pty) Ltd for the acquisition of 100 per cent equity stake in its hair extensions business in South Africa. GCPL’s Africa business currently has annualised revenues of $200 million.
The company has been acquiring brands, specially in the African continent.
Next Story
