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Deal Talk: Binance buys bitcoin exchange WazirX; Azent acquires Admission Table

Deal Talk: Binance buys bitcoin exchange WazirX; Azent acquires Admission Table
Photo Credit: Thinkstock
21 Nov, 2019
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TechCircle brings you a round-up of technology investment and M&A deals reported from across newsrooms.

WazirX

Mumbai-based digital asset platform WazirX, has been acquired by cryptocurrency exchange platform Binance, the startup said in a statement.

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WazirX was launched in March 2018 by Nischal Shetty, Sameer Mhatre and Siddharth Menon. The company launched WazirX P2P (peer-to-peer), shortly after the RBI imposed a banking ban on cryptocurrency exchanges in the country. 

Following the Binance acquisition, WazirX will be able to extend its P2P advantage to more countries and solve crypto conversion problem for the masses, the statement said.

According to media reports, the transaction was estimated at $5-$10 million.

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The platform had also launched Smart Token Fund (STF) - a community driven initiative where cryptocurrency enthusiasts can find smart traders, and let them grow their cryptocurrency portfolio on WazirX. According to the statement, it envisions to solve the problem of those traders who either don’t have time to trade or cannot keep a tab on the latest developments. 

Stanza Living

New Delhi-based student housing startup Stanza Living, run by DTwelve Spaces, has secured an undisclosed amount of funding from Equity International, a real estate-focused investment company founded by US-based billionaire investor Sam Zell, The Economic Times reported citing sources.

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According to the report, the investment is part of Stanza Living's Series C equity financing round, in which it raised around $50 million from New York-based investment firm Falcon Edge Capital. 

The investment comes at the same valuation of $300 million, which Stanza Living achieved during the Series C funding round, reports say. 

Stanza Living was founded in 2017 by Sandeep Dalmia and Anindya Dutta. The company offers managed and shared fully furnished accommodation for students, especially those relocating to a new city. Its managed properties also offer common spaces for recreation and networking, besides food.

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In March 2019, the company raised $4.4 million in venture debt from Alteria Capital. 

Azent

Edtech startup Azent Overseas Education has announced the acquisition of Bengaluru-based admission assistance company Admission Table, media reports said.

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Although the deal value is undisclosed, it is reportedly part of Azent's larger plan to invest Rs 250 crore in technological capabilities, services, acquisitions and infrastructure. 

Azent is founded by IT firm Hexaware Technologies Ltd founder Atul Nishar.

"As we actively look for more opportunities, we plan to acquire three companies in the education counselling space in the next three years," said Nishar to Mint.

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Azent has four centres in Mumbai, Thane, Hyderabad and Chennai along with an online counselling centre in Bengaluru. It has close to 100 employees and claims to have helped 250 students study abroad. 

AdmissionTable.com is an online platform founded by Manish Katyan and Pooja Krishna. The company uses AI, chatbots and machine learning tools along with counsellors to help students with university shortlisting, admission counselling and tutoring for various entrance examinations.