Twitter’s (NYSE: TWTR) ongoing saga isn’t the only M&A story investors should be aware of.
Here is a list of a few notable deals which occurred on Thursday that may be flying under the radar.
Russia-based Qiwi (NASDAQ: QIWI), a provider of payment services in the country and the Commonwealth of Independent States (CIS), announced that it has acquired Plati Potom, a fintech startup that develops post payment solutions for retailers and provides data analysis and credit risk management tools.
“Acquisition of Plati Potom is aimed at strengthening QIWI’s expertise and positions in the areas of e-commerce and data analysis,” said Yakov Barinskiy, Head of M&A and Business Development. “Apart from a strong technological base, Plati Potom appealed to us because of its good operational dynamics along with highly professional management and software development team that is currently integrating with QIWI.”
Despite what appears to be an encouraging M&A deal, investors punished Qiwi’s stock which ended Thursday’s trading session lower by nearly 4 percent.
eBay Acquires A Visual Search Provider
eBay (NASDAQ: EBAY) said that it has acquired Corrigon, a visual search technologies provider.
Corrigon’s technology identifies objects that are located in an image and can be used to classify the product to a corresponding category. eBay noted that Corrigon’s expertise and technology could help its marketplace sellers match the images to their products more efficiently.
“As we continue to evolve the eBay shopping experience, Corrigon’s technology and expertise will help buyers find the best results when shopping on eBay through experiences that were not possible a year ago, before our investments in structured data,” said Amit Menipaz, Vice President and General Manager of Structured Data at eBay. “Corrigon represents eBay’s third acquisition in the structured data space this year, further underscoring our commitment to powering deeper inventory insights for our sellers and compelling new user experiences for our buyers.”
Samsung Buys AI Startup Created By Siri’s Founders
Viv Labs, the company which created Siri for Apple (NASDAQ: AAPL), was bought out by Samsung on Thursday.
Viv Labs is an artificial intelligence platform that allows developers to distribute their products through an intelligent interface. Samsung noted that the acquisition is its way of showcasing its commitment to virtual personal assistants. Through the acquisition, the company will offer new service experiences for its customers including simplifying user interfaces.
“Unlike other existing AI-based services, Viv has a sophisticated natural language understanding, machine learning capabilities and strategic partnerships that will enrich a broader service ecosystem,” said Injong Rhee, CTO of the Mobile Communications business at Samsung Electronics. “Viv was built with both consumers and developers in mind. This dual focus is also what attracted us to Viv as an ideal candidate to integrate with Samsung home appliances, wearables and more, as the paradigm of how we interact with technology shifts to intelligent interfaces and voice control.”