Applications
Cable digitisation: IMCL makes third purchase in Kolkata
MUMBAI: IndusInd Media & Communications Ltd (IMCL) has made its third acquisition in Kolkata as it plans to expand in that marketplace where it sees a lot of demand coming from small-sized cable companies who are unable to fund for digital set-top boxes (STBs).
“We have acquired 51 per cent stake in a small cable TV network in Kolkata. We are looking at seeding 100,000 STBs through this company. This is our third purchase in Kolkata,” IMCL chief executive officer Nagesh Chabria told Indiantelevision.com.
In 2012, IMCL had picked up 51 per cent stake in two cable networks – Hooghly-based Advance Multisystem Broadband Communications (AMBC) and Skyvision.
Advance Multisystem Broadband Communications Limited (AMBC) has become a subsidiary of IMCL with effect from 9 November 2012. IMCL had on 18 May acquired AMBC by subscribing to 51 per cent of the paid up equity capital of AMBC by provision of STBs and digital head-end valued at Rs 80.1 million.
Meanwhile, Hinduja Ventures Limited (HVL) has reported a fall in its third quarter profit before tax from its media and communications segment (IMCL) to Rs 50.81 million from Rs 199.9 million in the trailing quarter.
The revenue from this segment, which houses the HVL’s cable TV business InCablenet, is Rs 1.52 billion compared to Rs 1.36 billion in the second quarter of the fiscal.
The media and communications business resides in IMCL, a subsidiary of HVL.
HVL has exercised the put option to increase its holding in subsidiary IMCL to 61.71 per cent from 61.17 per cent as a result of conversion of seven years, 12 per cent Cumulative Convertible Redeemable Preference shares aggregating to Rs 150 million into 1.03 million equity shares of Rs 10 each, at a premium of Rs 135 per share.
Applications
Canva acquires animation and AI startups Cavalry and MangoAI
The deals strengthen Canva’s push into enterprise and AI-led design workflows
AUSTRALIA: Global visual communication platform Canva has stepped up its acquisition drive, buying UK-based 2D animation platform Cavalry and US-based AI startup MangoAI to deepen its AI-powered creative stack.
Cavalry, whose tools are used by brands including Amazon, Meta, Google and Netflix, will strengthen Canva’s motion design capabilities. The deal builds on Canva’s 2024 acquisition of Affinity, which has crossed four million downloads since launch. With Cavalry, Canva now counts seven Europe-based acquisitions, underscoring its global expansion strategy.
MangoAI, an early-stage startup focused on video advertising optimisation, will integrate its reinforcement learning systems into Canva AI. The move aims to enable brands to generate personalised marketing content in real time, cutting production cycles while improving campaign performance. MangoAI co-founder Vinith Misra will join Canva as reinforcement learning lead in its research lab.
Canva co-founder and chief operating officer Cliff Obrecht said the acquisitions reflect the company’s ambition to make professional-grade creative tools more accessible without sidelining human creativity. The goal, he said, is to bring everything from vector to motion design into a single, integrated suite.
The company now reports 265 million active users, including 31 million paid subscribers, and $4 billion in annualised revenue, up 36 per cent year on year. The latest buys further position Canva against rivals such as Adobe and Apple’s Creator Studio as it pushes deeper into enterprise workflows.
Canva head of pro design marketing Liam Fisher, said AI is intended to act as a creative assistant rather than a replacement, reinforcing the primacy of craft and individual design judgement.
