LONDON: Bank of England Governor Andrew Bailey said that Artificial Intelligence has the potential to be the next great technological leap that transforms the economy, but warned that Britain must work with it to reverse a prolonged slowdown in productivity growth. In a speech drawing on lessons from economic history, Bailey said the nature of…
Smiths Group to sell Smiths Interconnect to Molex Electronic Technologies for £1.3 billion
LONDON: Smiths Group plc has entered into an agreement for the sale of Smiths Interconnect to Molex Electronic Technologies Holdings, LLC . The transaction values Smiths Interconnect at an enterprise value of £1.3bn, representing 15.1x headline EBITDA of £86.1m for the fiscal year 2025. Smiths will receive cash consideration for the transaction which is subject to customary adjustments…
Avid raises $6.5 million seed funding to advance AI-powered fundraising platform
AUSTIN: Avid, developer of the first AI-powered Fundraising Operating System, announced Thursday it has raised $6.5 million in seed funding led by Silverton Partners, an Austin-based venture capital firm. The investment will support Avid’s mission to streamline nonprofit fundraising by integrating strategy and execution into a single platform. Already adopted by leading nonprofit organizations, Avid’s…
Prince Silver Corp shares begin trading on Frankfurt Stock Exchange
FRANKFURT: Prince Silver Corp (CSE: PRNC) (OTCQB: PRNCF) said on Thursday its common shares have commenced trading on the Frankfurt Stock Exchange under the symbol T130, expanding the Canadian silver explorer’s market presence to European investors. The listing adds to Prince Silver’s existing quotations on the Canadian Securities Exchange and the OTCQB in the United…
Certerra acquires Farabaugh Engineering to expand testing capabilities nationwide
REDMOND: Certerra, a leading provider of technology-enabled testing, inspection, and certification services for critical infrastructure, announced Thursday it has acquired Farabaugh Engineering and Testing, a specialized firm offering product testing, auditing, and engineering services for construction and building components. The acquisition strengthens Certerra’s Analytical Labs and Building Products Divisions, expanding its technical capabilities and geographic…
Vodafone Türkiye secures 100 MHz in 5G spectrum auction for $627 million
ANKARA: Vodafone Türkiye has acquired 100 megahertz of spectrum in a government-run 5G auction Thursday, committing $627 million (€539 million) to bolster its next-generation mobile services. The auction, conducted by the Information and Communication Technologies Authority (ICTA), awarded Vodafone Türkiye 2 x 10 MHz in the 700 MHz band and 80 MHz in the 3.5…
Workspace Group occupancy dips to 80% in second quarter amid strategic overhaul
LONDON: British flexible office provider Workspace Group PLC (WKP.L) share declined over 3.0% as the company reported a dip in occupancy for its second quarter, as it grapples with a strategic shift to streamline its portfolio and operations in a challenging commercial property market. The London-focused firm said on Thursday that like-for-like occupancy fell to…
Whitbread holds firm on profit goals despite dip, plans £2 billion shareholder return
LONDON: British hotel group Whitbread Plc on Thursday reported a dip in first-half profit, pressured by a softer German market and the restructuring of its food and beverage operations, but reaffirmed its ambitious five-year plan to boost profitability and return £2 billion to shareholders by 2030. The owner of the Premier Inn chain said adjusted profit…
CLS Holdings leases 14,700 sqm at Gotic Haus, Dortmund
LONDON: CLS Holdings plc (CLS.L) said on Tuesday it has signed an eight-year, index-linked lease for 14,700 square metres of office space at its Gotic Haus property in Dortmund, Germany, with a government department. The lease for the space, equivalent to 158,230 square feet and including 290 parking spaces, is scheduled to commence on September…
IG Group has sold Small Exchange Inc to Payward Inc for $100 million
LONDON: IG Group Holdings plc has completed the sale of Small Exchange Inc to Payward Inc (“Payward”), the parent company of the crypto exchange Kraken. The transaction values Small Exchange at $100.0m (£74.9m), with the consideration comprising $32.5m (£24.3m) in cash and $67.5m (£50.6m) in Payward stock. The sale results in a post-tax gain of…
Oakley Capital agrees sale of atHome
LONDON: Oakley Capital Fund III has reached an agreement to sell its stake in atHome, which operates Luxembourg’s leading property and automotive marketplaces. Oakley Capital, a leading pan-European mid-market private equity investor, is pleased to announce the sale of its stake in atHome to Apax Partners. Following completion of the transaction, Fund III will have…
GB Group has acquired DataTools Pty Ltd FOR AUD 16 million
LONDON: GB Group (GBG), a global identity technology business enabling safe and rewarding digital lives, has acquired DataTools Pty Ltd (“DataTools”), a leading provider of address validation and data quality solutions in Australia and New Zealand. This bolt-on acquisition adds scale where GBG is already enjoying strong growth, deepening our existing address verification presence…