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Travel major <a href="http://www.businessinsider.in/Thomas-Cook-acquires-Rs-130-crore-business-space-in-Mumbai-/articleshow/48016074.cms">Thomas Cook India</a> has acquired Swiss tourism major <keyword id="76856" type="COMPANY" weightage="100" keywordseo="Kuoni">Kuoni</keyword>'s <a href="http://www.businessinsider.in/The-numbers-are-out-Foreign-tourist-arrivals-with-e-visa-has-jumped-11-times-inIndia/articleshow/47379746.cms">travel business</a> in India and Hong Kong for Rs 535 crore.<br />
 <br /> "Our acquisition of Kuoni's tour operating and retailing businesses in India and Hong Kong as well as the Indian inbound business reaffirms our belief in the India market potential, as also our strategic intent to explore viable geographies, including the larger Asia opportunity," Prem Watsa, chairman and CEO, <keyword id="446537" type="COMPANY" weightage="100" keywordseo="Fairfax-Financial-Holdings">Fairfax Financial Holdings</keyword> that backs Thomas Cook, told ET. <br />
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<a href="http://www.businessinsider.in/ThomasCook-Indias-subsidiary-Quess-Corp-acquires-49-stake-in-Qatar-based-TransfieldServices/articleshow/47501921.cms">Thomas Cook</a> will pay Rs 320 crore for Kuoni-SOTC (Indian arm) through internal accruals and Rs 215 crore for Kuoni's Hong Kong business through a mix of debt and equity. <br />
 <br /> "There were parts of Kuoni which would clearly complement and enhance our inbound business and we see strong synergies and benefits accruing from their well established presence/global connection in key source markets like Europe, "Madhavan Menon, MD, <keyword id="164802" type="COMPANY" weightage="100" keywordseo="Thomas-Cook-India">Thomas Cook India</keyword> told ET. Currently, Kuoni-SOTC is present in outbound and inbound tour segment and also runs corporate travel business. <br />
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The transaction remains subject to regulatory approvals and is expected to be complete before the end of this year. <br />
 <br /> "With the sale of the tour operating activities in India and Hong Kong, we have completed the sale of the outbound business as announced in January. I'm very pleased that we found forward-looking solutions for the units in India and Hong Kong," said <keyword id="1714849" type="UNKNOWN" weightage="100" keywordseo="Peter-Meier">Peter Meier</keyword>, CEO, Kuoni Group. <br />
 <br /> Thomas Cook has been aggressive in the M&amp;A market after Prem Watsa's Fairfax Financial Holdings took control of the firm in 2012 with close to 75% stake, having acquired <keyword id="1550353" type="UNKNOWN" weightage="100" keywordseo="Ikya-Human-Solutions">Ikya Human Solutions</keyword> (now rebranded as Quess) and Sterling Holiday. Thomas Cook India currently has presence in 95 cities across India, Mauritius and Sri Lanka. <br />
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Founded in 1906, Kuoni entered India in 1997 by acquiring SOTC Tours, which was one of the pioneers of foreign tours. Three years later, it took over Sita World Travels, an inbound travel company. Kuoni offers online destination management services and visa services under the VFS brand.<br />
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(Image credits: Indiatimes)<br />
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Thomas Cook acquires Swiss tourism major Kuoni’s India and Hong Kong businesses

<p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Tanza Loudenback/Business Insider</span></p><p class="caption">Billionaire's Beach is home to several notable residents, including Oracle cofounder Larry Ellison.</p></div><p></p></div></div></p><ul><li><strong>A home on <a href="http://www.businessinsider.com/photos-malibu-billionaire-beach-homes-2017-7">Billionaire's Beach</a> in Malibu, California, sold for $110 million - the most expensive home sale in Los Angeles County history.</strong></li><li><strong>The cofounder of the Hard Rock Cafe chain sold the beachfront property to a natural gas billionaire.</strong></li><li><strong>Billionaire's Beach is home to several notable residents, including Oracle cofounder Larry Ellison.</strong></li></ul><p> </p><p>Peter Morton, cofounder of the Hard Rock Cafe chain, just set a new, mind-boggling record for Los Angeles real estate.</p><p>The restaurateur sold his beachfront Malibu, California, home to natural gas billionaire Michael S. Smith and his wife, for $110 million, or about $15,860 per square foot. It's officially <a href="http://www.latimes.com/business/realestate/hot-property/la-fi-hotprop-110-million-sale-malibu-20180423-story.html#nws=mcnewsletter">the most expensive home sale</a> in Los Angeles County history <a href="http://www.latimes.com/business/realestate/hot-property/la-fi-hotprop-110-million-sale-malibu-20180423-story.html#nws=mcnewsletter">according to the Los Angeles Times</a>, which says the deal is expected to close Tuesday.</p><p>The 6,934-square foot mansion sits on the shores of Carbon Beach, a 1.5-mile stretch of sand between the iconic Pacific Coast Highway and the glistening Pacific Ocean nicknamed "Billionaire's Beach" as an homage to the ultra-wealthy residents who call it home. </p><p>Up until mid-2015, the beach was largely closed off to the public. But after a decades-long, <a href="http://www.cnn.com/2015/07/17/us/billionaires-beach-malibu-public-access/index.html">complicated legal battle</a> between the state and homeowners, its 70-plus residences share their backyard with tourists and beachgoers from sun up to sun down.</p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Google Maps</span></p><p class="caption">The $110 million home is sandwiched between two of Larry Ellison's properties.</p></div><p></p></div></div></p><p>Malibu's previous record sale took place in 2017 when David Geffen, the billionaire founder of Asylum Records and Geffen Records and cofounder of DreamWorks, sold <a href="http://variety.com/2017/dirt/real-estalker/mark-walter-bought-david-geffen-compound-malibu-carbon-beach-dodgers-1202454462/">his Carbon Beach compound</a> to Los Angeles Dodgers owner and Guggenheim Partners CEO Mark Walter for $85 million.</p><p>The $110 million compound comes with a notable neighbor. Oracle founder Larry Ellison owns the homes on either side, just two of the 10 properties he reportedly owns on Carbon Beach.</p><h2><a href="http://www.businessinsider.com/photos-malibu-billionaire-beach-homes-2017-7">Take a tour of Billionaire's Beach »</a></h2><p>The $110 million sale is only for the structure - none of the high-end furniture or Morton's expensive artwork collection is included. Set on an estimated two-thirds of an acre, the property contains two separate buildings: A main residence with four en suite bedrooms and a two-story guest house with another three en suite bedrooms. There's also a lap pool and courtyard on the property. Operable teak wood shutters surround the exterior, in addition to bronze and concrete finishes. </p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Tanza Loudenback/Business Insider</span></p><p class="caption">Billionaire's Beach is richest stretch of sand in the world.</p></div><p></p></div></div></p><p>Not much else is known about the home's interiors or amenities, as the deal was completed off-market between <span>Branden and Rayni Williams of </span><a href="https://thewilliamsestates.com/" target="_blank" rel="noopener nofollow">Williams &amp; Williams Estates</a><span> at </span><a href="https://hiltonhyland.com/" target="_blank" rel="noopener nofollow">Hilton &amp; Hyland</a><span> and </span><a href="https://www.sothebyshomes.com/Los-Angeles-Real-Estate/agents/barry.peele?page=1&amp;tab=sold" target="_blank" rel="noopener nofollow">Barry Peele</a><span> of </span><a href="http://www.sothebyshomes.com/" target="_blank" rel="noopener nofollow">Sotheby's International Realty</a><span>.</span></p><p>Morton has reportedly owned the land on Carbon Beach since the 1990s. The home was designed by architect <a href="http://www.richardmeier.com/?projects=malibu-beach-house-2" target="_blank" rel="noopener nofollow">Richard Meier</a> and completed in 2006, the same year Morton sold the Hard Rock Hotel &amp; Casino in Las Vegas <a href="https://www.businesswire.com/news/home/20060511005977/en/Morgans-Hotel-Group-Acquire-Hard-Rock-Hotel">for $770 million</a>. A decade earlier he sold his shares in the Hard Rock Cafe for a profit of $300 million, <a href="http://articles.latimes.com/1996-06-08/business/fi-12875_1_hard-rock">according to the LA Times</a>.</p><p>This isn't the first time Moron's real estate dealings have made headlines. In late 2012, he bought Elvis Presley's old Beverly Hills mansion for $9.8 million and renovated it before <a href="http://www.businessinsider.com/peter-morton-beverly-hills-mansion-2014-3">selling it off-market</a> just one year later for $14.5 million.</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/mars-map-show-where-humans-will-live-on-mars-2018-3">Animated map of Mars reveals where humans should build the first Martian cities</a></h3>        <div>                    </div>    </div>

The cofounder of the Hard Rock Cafe just sold his mansion on Billionaire's Beach in Malibu for a record-breaking $110 million

<p></p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div><p></p></div></div>Apple is entering the augmented reality arms race with the acquisition of German company Metaio.<p>Apple has been typically tight-lipped about the acquisition, <a href="http://techcrunch.com/2015/05/28/apple-metaio/#.2sm559:LpiP">first reported by TechCrunch</a><span>,&#xa0;</span>saying only that "Apple buys smaller technology companies from time to time, and we generally do not discuss our purpose or plans."</p><p>Metaio mysteriously shuttered earlier this week, prompting speculation over its future. Before the news broke, <a href="http://venturebeat.com/2015/05/27/augmented-reality-company-metaio-has-mysteriously-stopped-selling-its-services/">some thought it might have been bought by Google</a> - which is openly exploring augmented and virtual reality - ahead of its annual I/O conference this week.</p><p>Instead it's Apple, entering an increasingly crowded field of competitors, all racing to bring products to the market.</p><h2>What is Metaio?</h2><p>Founded in 2003, Metaio developed augmented reality technologies. It's described on its VentureBeat profile as "[developing] software products for visual interactive solutions seamlessly combining real and virtual elements. Based on its Augmented Reality platform of solutions and software, digital content can be integrated seamlessly into a real-world environment through a camera device."</p><p>In real terms, this means apps and products that make use of cameras on smart devices (phones/tablets) to create an overlay of the real world on the screen. Museums could use it to enrich exhibits, for example - point your smartphone at an item with the app open and camera on, and it'll display additional information about it alongside it.</p><p>The company is based in Germany, headed up by co-founder Thomas Alt as CEO (the other co-founder Peter Meier, is CTO). <a href="http://www.zdnet.com/article/apple-snaps-up-augmented-reality-firm-metaio/">According to ZDNet</a>, Metaio worked with over 140,000 developers, and counted Lego, Audi, IKEA, and Mitsubishi among its clients.</p><h2>What does it look like in practice?</h2><p>One of Metaio's clients was Ferrari. The company produced an app for the automotive manufacturer that staff in showrooms can use to demonstrate the cars' features.</p><div><div></div></div><p class="embed-spacer">It also developed a "Time Traveler" app to let visitors to the Berlin Wall experience the historical site through the years.</p><div><div></div></div><p>IKEA was another client - here's a video of an augmented reality app by the homeware company produced with Metaio's tech:</p><div><div></div></div><h2>Where does this fit into Apple's plans?</h2><p>Apple is already exploring augmented reality, <a href="http://uk.businessinsider.com/apple-working-on-a-version-of-google-glass-2015-3">according to Gene Munster at Piper Jaffray</a>. In March 2015, the respected analyst put out a research note saying that sources have told him that the Cupertino company has a "small team working and exploring the augmented reality space."</p><p></p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div><p></p></div></div>Apple is also working on augmented reality for its Maps product, <a href="http://9to5mac.com/2015/05/27/apples-proactive-to-take-on-google-now-with-deep-ios-9-search-augmented-reality-maps-siri-api/">according to a report by 9to5Mac's Marc Gurman this week</a>. "Pointed towards a cafe, for example, the screen could show a virtual view of menu items or daily specials. If the user points her phone toward a street, a virtual outline of local businesses, restaurants, shopping stores, or coffee shops could appear," Gurman writes.<p>In February 2015, the Cupertino company was g<a href="http://uk.businessinsider.com/apple-wins-patent-for-virtual-reality-iphone-headset-2015-2">ranted a patent for a virtual reality headset that worked in conjunction with a user's iPhone</a>.</p><p>The acquisition of Metaio and the expertise of its team could help bolster these efforts.</p><h2>Why is Apple doing this?</h2><p>The augmented reality space is heating up right now, and Apple clearly doesn't want to be left behind. The mapping technology it is reportedly developing is similar to Yelp's Monocle, a product already on the market. And multiple other big tech companies are also exploring the potential of augmented and virtual reality.</p><p>Google's botched Google Glass headset is the most famous attempt so far. Users had a head-mounted miniature screen and camera, that could provide them with context-dependent information and provide hands-free interactivity. But it failed to see major uptake, with wearers derided as "glassholes." Nonetheless, Google is continuing its efforts <a href="http://uk.businessinsider.com/google-glass-strategy-2015-1">after a "reset" of its strategy</a>, and <a href="http://uk.businessinsider.com/google-glass-job-listings-suggest-family-of-products-2015-5">the team is now hiring again</a>.</p><p></p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div><p></p></div></div>Google <em>also</em> has Google Cardboard - a DIY project that lets users experience virtual reality using nothing but their smartphone and a cardboard box. Previously Android only, <a href="http://uk.businessinsider.com/google-cardboard-good-vr-doesnt-have-to-be-expensive-2015-5">Google is now bringing its VR experience to the iPhone with the launch of an iOS app</a>.<p>Microsoft made headlines earlier this year when it announced Hololens, a flashy virtual reality headset with numerous touted applications ranging from 3D design to gaming, office use, and home repair guidance. <a href="http://bgr.com/2015/05/01/microsoft-hololens-release-date-and-price/">BGR reports it may be released as early as this summer</a>, around the same time as Windows 10.</p><p>And Facebook has its own virtual reality play, the Oculus Rift headset, <a href="http://www.businessinsider.com/facebook-to-buy-oculus-rift-for-2-billion-2014-3">which it bought in March 2014 for $2 billion</a>. <a href="http://uk.businessinsider.com/oculus-vr-acquires-uk-startup-surreal-vision-2015-5">Earlier this week Oculus acquired UK startup Surreal Vision</a>, which reconstructs physical spaces (e.g. your living room) within virtual reality and can add virtual elements (e.g. thousands of tiny elephants in said living room). It's a move towards augmented reality for Oculus and Facebook, which has previously focused on more entirely virtual worlds. Here's a video of Surreal Vision's tech in action:</p><div><div></div></div><p><a href="http://uk.businessinsider.com/virtual-reality-is-getting-real-2015-5">There's numerous others too</a>, including Sony's Morpheus headset designed for the PS4, and the HTC Vive, which is being launched in partnership with gaming company Valve.</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/henry-blodget-tries-oculus-rift-virtual-reality-2015-1">Watch Henry Blodget Freak Out When He Tries Oculus Rift And Looks Down From A Virtual Skyscraper</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="wyZXVhcjqlAiaZTCD-lgoWLwGFPi_WF0" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

You Searched For "Peter Meier" and got 3 results

Thomas Cook acquires Swiss tourism major Kuoni’s India and Hong Kong businesses

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The cofounder of the Hard Rock Cafe just sold his mansion on Billionaire's Beach in Malibu for a record-breaking $110 million

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Apple has a new 'augmented-reality' unit - this is what it does

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You Searched For "Peter Meier" and got 3 results

Thomas Cook acquires Swiss tourism major Kuoni’s India and Hong Kong businesses

BI India Bureau

The cofounder of the Hard Rock Cafe just sold his mansion on Billionaire's Beach in Malibu for a record-breaking $110 million

Tanza Loudenback

Apple has a new 'augmented-reality' unit&#160;-&#160;this is what it does

Rob Price

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Apple has a new 'augmented-reality' unit - this is what it does