Investments

Zee oks in-principle merger with SPN; Sony to hold majority stake

SportzPower Team

Sep 22, 2021 14:09

Read more about Zee oks in-principle merger with SPN; Sony to hold majority stake
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MUMBAI: Sony Pictures Networks India (SPN) and Zee Entertainment Enterprises Ltd. (ZEEL) Wednesday announced that they have entered into an exclusive, non-binding Term Sheet to combine both companies’ linear networks, digital assets, production operations and program libraries.

The combined entity will have a consolidated topline of about Rs 140 billion based on FY21 results and a viewership market share between 25 to 30%.

Sep 21, 2021 18:09

SoftBank leads $680m Sorare funding to grow NFT sport portfolio

PARIS: Sorare, the fantasy football platform and marketplace for nonfungible token (NFT) trading cards, announced Tuesday that it has raised $680 million in Series B financing led by Japanese fintech giant SoftBank, with participation from Atomico, Bessemer Ventures, D1 Capital, Eurazeo, IVP and Liontree; and existing investors Benchmark, Accel and Headline.

Sep 21, 2021 17:09

Saudi International and Asian Tour confirm 10-yr partnership

SENTOSA, Singapore: The 2022 Saudi International powered by SoftBank Investment Advisers will mark the start of an historic chapter in golf, as the prestigious event becomes sanctioned by the Asian Tour as part of a new 10-year partnership.

Sep 16, 2021 15:09

Legatum leads Series E funding round in MPL at $2.3bn valuation

BENGALURU: Mobile Premier League, Asia’s largest esports and skill gaming platform, has reportedly raised $150 million in a Series E round of funding led by Legatum Capital at a pre-money valuation of $2.3 billion. This makes made it India's second gaming unicorn valued at over $1 billion after Dream11.

Sep 16, 2021 13:09

Hyperice adds Virat Kohli to its global athlete-investor roster

MUMBAI: Hyperice, a global high-performance wellness brand specializing in percussion, dynamic air compression, vibration, thermal technology, mind technology, and contrast therapy, Thursday announced Indian cricketer Virat Kohli as a Hyperice athlete-investor and new brand ambassador.

Sep 16, 2021 08:09

Federer-backed shoe firm On debuts on NYSE, shares soar

NEW YORK: Swiss running shoe company On Holding, which boasts tennis icon Roger Federer as a stakeholder, debuted on the New York Stock Exchange on Wednesday, selling 31.1 million shares in its initial public offering and raising $746.4 million on Day 1 of its listing.

Sep 16, 2021 08:09

Prime Volleyball League set for tip-off; team owners hold stake in it

HYDERABAD: After a two-year hiatus, top level volleyball action will return to Indian screens with the launch of the Prime Volleyball League.

Sep 15, 2021 18:09

Handball league licensee commits Rs2.4bn investment over next 5yrs

MUMBAI: Bluesport Entertainment Private Limited, which has secured 10-year commercial rights for the still to launch Premier Handball League from the Handball Federation of India, Tuesday announced a Rs 2.4 billion investment commitment behind the game in India over the next five years.

Sep 14, 2021 06:09

Intuit to acquire Mailchimp for $12bn

MOUNTAIN VIEW, Calif.: Intuit, the global technology platform that makes TurboTax, QuickBooks, Mint, and Credit Karma, Monday announced that it has agreed to acquire Mailchimp, the global customer engagement and marketing platform for growing small and mid-market businesses.

Sep 10, 2021 08:09

adidas India launches digital flagship store, touts enhanced UI

NEW DELHI: Leading sportswear giant adidas launched its digital flagship store on Thursday to provide an enhanced innovation, state-of-the-art UI, and interface for consumers across the country.

Sep 10, 2021 08:09

ASICS eyes 25% growth in India during 2022, to support wrestling

MUMBAI: Japanese performance sportswear firm ASICS plans to add 18 stores to its sales network in 2022 expanding its footprints in India further along with a value-based growth of up to 25% by that time, a top company official has said. ASICS on Thursday also announced its commitment to nurturing young wrestling talent in India.

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