India Dealbook: Zomato, Marketing Group, Lu-ve In Purchase Deals

India Dealbook: Zomato, Marketing Group, Lu-ve In Purchase Deals


Zomato has laid hands on Sparse Labs, The Marketing Group seems to have bought TDA Group just as LU-VE S.p.A. signed an agreement to acquire Spirotech Heat Exchangers Pvt Ltd.

Zomato takes Sparse Labs


Restaurant review and search website Zomato Media Pvt. Ltd has gained Sparse Labs Pvt. Ltd, a Gurgaon-based logistics technology startup. This website helps restaurants track and optimise their in-house delivery fleets.

Reports state that Sparse Labs will be renamed Zomato Trace and will provide service free of cost to its restaurant partners as soon as possible. However, the deal amount remains confidential.

Sparse Labs has developed an Android-based app, which transmits a rider’s location to both the restaurant and the user. The rider uses the app to receive route information. Thus ensuring quicker and more efficient deliveries.

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TDA Group sold for $4.6m to The Marketing Group

Renowned digital marketing and mass advertising  group The Marketing Group Plc has bought TDA Group Llc. The deal finalised for $4.58 million including cash and stock, according to the reports.

TDA Group markets content and communications. The company’s clients include companies like IBM, Dell, Intel and Lenovo.

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Lu-ve S.p.A. gains Spirotech Heat Exchangers

LU-VE S.p.A., an Italian firm, has signed contracts to acquire Rajasthan-based Spirotech Heat Exchangers Pvt Ltd (Spirotech). Spirotech is a leading Indian company manufacturing and selling heat exchanger coils. The deal is subject to traditional closing conditions and seems to close by the end of October 2016.

“The transaction encompasses a fair value of 33.6 Million Euros. Spirotech clocked revenues of ~21 Million Euros, EBITDA of ~ 4.5 Million Euros and PAT of ~2.1 Million Euros, for the financial year ended March 2016.” company’s spokesperson informed.

The addition of Spirotech will allow LU-VE group to make use of the existing business and operations of Spirotech as a platform to expand its business in India and nearby countries at a rapid pace.

BMR Advisors played the role of the financial advisor to LU-VE and BMR Legal was the legal advisor. At the same time, SSKM & Co was the financial advisor and JSA acted as the legal advisor to the shareholders of Spirotech.