Tech-giant Intel today acquired California-based deep learning start-up Nervana Systems run by an Indian-origin entrepreneur, allowing the the chip maker to foray into the world of Artificial Intelligence. Founded in 2014 and headquartered in San Diego, California, Nervana has a fully-optimised software and hardware stack for deep learning.
Randstad Holding nv a leading HR services provider is acquiring job portal Monster Worldwide for purchase price of approximately $429 Million. Randstad will pay $3.40 per share in cash. The consideration represents a 22.7% premium to Monster’s closing stock price on August 8, 2016.
Vegetarian food chain Sattviko has acquired Delhi-based packaged products company FYNE Superfood for an undisclosed amount to ramp up its packaged products offerings. The brand and products of Fyne Superfood will now be merged with Sattviko. Darpan Majumdar, one of the co-founders of FYNE Superfood, will join the company and lead the intellectual property transfer for the next six to seven months.
Genext Students, a hybrid ed-tech tutoring platform, has raised funding from 1Crowd, an equity crowd funding platform. The funding will be utilized to accelerate product technology development, enhance marketing efforts and increase team size.
US based tech marketing company Boomtrain is set to acquire Bengaluru-based Nudgespot. The Nudgespot team will continue to work from their existing office in Bangalore but the focus now will change in terms of the services provided and the range of customers. Boomtrain essentially focuses on providing marketing automation for large enterprises and that will continue with their presence in India.