HI-TECH NEWS with #M&A hashtag

by menarate
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An e-commerce marketplace Souq.com headquartered in Dubai, which was already commonly described as “the Amazon of the Middle East” has been recently acquired by Amazon. The retailer employs more than 3,000 people and sells over 400,000 products, from clothes and perfumes to notebooks and televisions to neighboring Middle Eastern countries such as Kuwait, Oman, Bahrain and Egypt. The well-established player has over 23 million online visits per month.

by menarate
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Fitbit Inc., the fitness band maker, has recently acquired software assets and intellectual property from California based Pebble Technology Corp. First launched in 2012 on Kickstarter and gained fame for being a wildly successful crowdfunded project, Pebble produced utilitarian smartwatches, with their “e-paper” displays and relatively long battery life. They say the deal makes obvious that Fitbit is going to totally immerse into the smartwatch market, extend its leadership position in the wearables category and compete with Apple smartwatches.