India’s CarDekho has acquired auto marketplace Carmudi Philippines in a bid to expand its service offerings across Southeast Asia while FirstCry has marked its entry into education sector with the acquisition of Oi Playschool.
CarDekho acquires Carmudi Philippines
Sequoia-backed online auto classifieds portal CarDekho has acquired auto marketplace Carmudi Philippines to expand its service offerings across Southeast Asia, according to a report in Business World.
The deal will help Carmudi upgrade buying and selling experience for its customers. The companies are also expected to introduce new products and innovations.
Carmudi is a car classifieds startup backed by Rocket Internet. The company, which has operations in Indonesia and the Philippines, last raised a funding round of $10 million in January 2018, led by Tengelman Ventures, HV Holtzbrinck Ventures and Asia Pacific Internet Group (APACIG).
FirstCry acquires Oi Playschool
SoftBank-backed baby and mother-care products retailer FirstCry has forayed into the education sector with the acquisition of Oi Playschool, a part of the People Combine Group.
FirstCry plans to expand the playschool chain, which operates about 55 centres in Hyderabad and Bengaluru, to 1,000 centres in five years. Financial details of the deal were not disclosed.
Oi Playschool will compete with the likes of KKR-owned EuroKids and Kidzee. In September, private equity firm KKR had acquired a majority stake in Indian pre-schools chain, EuroKids International Pvt. Ltd., from a consortium of existing investors led by private equity firm Gaja Capital.