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Top 10 Tech Acquisitions That Took Place in 2016
A lot have happened in 2016!
2016 will be marked as a year for significant innovations in the smartphone space. Having said that, there are several successful brands, while some failed to kick on the spirit and handed themselves to the successful ones. Also, 2016 is the year which saw several significant acquisitions happened in the tech space.
In this article, we are showing you the top 10 tech acquisitions took place in 2016.
Note: This list is not based on the value of the purchase. We just handpicked the acquisitions that make sense to our readers.
The most talked acquisition of 2016. Nokia, the Finnish company, sold its mobile phone business to Redmond-based tech giant Microsoft back in 2014. However, things did not go well for the company, and they announced the sale of Nokia cell phone division in May 2016.
What came as a surprising news is: HMD Global, a subsidiary of FIH Mobile was founded mainly to manufacture and sell Nokia branded mobile phones. The deal happened for a whopping $350 million, and it was completed in December 2016. The major news is HMD Global will release Android-powered Nokia smartphones in 2017.
LeEco and Coolpad both are Chinese smartphone brands. In June 2016, LeEco reportedly acquired stakes in its counterpart. Firstly, the company dealt for 18 percent of shares from Coolpad and later on in June 2016, LeEco further received 11 percent of stakes making it a total of 28.9 percent and the largest shareholder of Coolpad.
As of now, LeEco has invested a total of $488 million in Coolpad and recently quoted that they are running out of funds and will apparently raise the cost of their smartphones in future.
This might be the most surprising acquisition of 2016. On July 11, 2016, Microsoft, the Redmond tech giant acquired the social networking platform LinkedIn for a whopping $26.2 billion. However, this is not an all cash deal or a complete payment deal. Microsoft will pay $196 per share for LinkedIn, and Jeff Weiner will be directly reporting to the Microsoft's CEO, Satya Nadella, who is continuing as the chief executive officer of LinkedIn as well.
Jaybird is well known for their computer peripherals and Bluetooth speakers, In a surprise move, Logitech acquired the Salt Lake City-based startup, Jaybird for an all cash deal of $50 million. This step came especially because Logitech wants to establish themselves in the audio category as well. As of now, there is no product released in collaboration.
Another surprise sells off happened this year. Verizon, one of the pioneers in cellular network technology on July 22, 2016, acquired the search engine, Yahoo. Verizon currently has access to Yahoo's content, free activities, advertising, and search. Verizon is a lucky chap as they got rid of Yahoo for just $4.82 billion, and the deal was in all cash.
Samsung- Harman Kardon!
Samsung, the South Korean smartphone giant, in an all-cash deal worth $8 billion, bought the US-based audio company, Harman. This acquisition is the Samsung's biggest deal made ever since its inception as a company.
Also, the company acquired Viv Labs, an AI based assistant, which was also founded by Siri former Apple Siri members for a disclosed amount. It is said that the Samsung Galaxy S8 will feature the company's Artificial Intelligence Assistant same like the Google Assistant and Apple Siri.
After failing to acquire Snapchat a couple of years, Facebook, the social networking giant, at the start of this year has received the face-swapping application Masquerade, famously known as MSQRD. Facebook has a knack for buying the emerging services. MSQRD, in no time after its official roll out to the public, has achieved 1.6 billion users, which made Facebook acquire them. However, the deal amount has not been disclosed by either companies.
Pebble is very well known as the brand that introduced the concept of modern smartwatches was shut down selling themselves to Fitbit, the fitness tracker company. Having said that, it just costs less than $40 million for Fitbit to acquire the assets of Pebble.
If Facebook buys MSQRD, then Snapchat responded by purchasing the Vurb, a unique platform, which allows people to find and plan their routine life. The deal was done in August 2016 for a massive amount of $100 million. Various tech journalists criticized this move from Snap Inc.
Uber, the leading network of providing cabs in August 2016 has acquired a relatively new company called OTTO to push themselves to make into the Uber Self-Driving car. Recently, the company introduced this service in some cities, however, revoked it again due to some regulatory issues. However, OTTO's employees were lucky to bag a deal of $680 million after starting the company just three months ago.