India has witnessed numerous takeovers and mergers over the years. Many leading companies acquire other major brands with the goal of broadening their presence and reach in the market. Some have even acquired their competitors to control the competition in the market.
Here are the top 5 acquisitions to take place in India so far.
Flipkart Acquires Walmart
E-commerce major Flipkart Group acquired a 100% stake in Walmart India Pvt Ltd in July 2020 and has launched Flipkart Wholesale, a new digital marketplace.
Bengaluru-based Flipkart said this will enable the transformation of the Kirana retail ecosystem in the country by leveraging locally developed technology and help growth for kiranas and MSMEs.
Snapdeal Acquires FreeCharge
Earlier in 2015, the leading online marketplace Snapdeal acquired mobile and DTH recharge platform, FreeCharge, which was termed as ‘one of the largest acquisitions’ in the Indian digital commerce space. As per the sources involved in this acquisition FreeCharge was valued at around $450 million.
Tata Motors Acquires Jaguar and Land Rover
In 2008 India’s Tata Motors Ltd announced a $2.3 billion deal to buy Jaguar and Land Rover from Ford Motor Co, in a transaction that gave the emerging Indian automaker a model line-up ranging from ultra-cheap to high-end luxury.
Flipkart Acquires Myntra
Back in 2016, Flipkart & Myntra Officially announced the acquisition. The Mint report pegs the acquisition deal around $300-$330 million, while the NextBigWhat report (who broke the news) pegs it at $250-$300 million.
Ola Acquires TaxiForSure
In 2015, Ola the mobile app for personal transportation announced its acquisition of TaxiForSure for $200 mn in a cash and equity deal. With this deal, Ola, which was already the market leader in the personal transportation space with over 1-lakh vehicles on its platform, had further deepened its footprint with TaxiForSure’s operator-led model. TaxiForSure was then in 47 cities with over 15,000 vehicles registered on its platform.