SAN JOSE, Calif. — Avicena, a leader in ultra-low power, high-density microLED-based interconnects, announced Wednesday that it has raised $65 million in Series B funding, bringing its total capital raised to $120 million. The funding round was led by Tiger Global, with participation from new and existing investors including Maverick Silicon, Prosperity7 Ventures, Venture Tech Alliance,…
European Biogas Association calls for binding 2040 target to scale biogas production
BRUSSELS: As the European Union advances toward its 2040 climate goals, the European Biogas Association (EBA) is pushing for biogases to play a central role in the bloc’s energy transition. The industry group has proposed a binding target of 100 billion cubic meters (bcm) of biogas and biomethane production by 2040, positioning the sector as a key driver…
Origin gets $21 million Series A funding to transform global benefits industry
LONDON: Origin, the world’s first Global Benefits Intelligence platform, officially launched Tuesday with $21 million in Series A funding led by Felix Capital. Acadian Ventures and Notion Ventures also participated, along with individual investors including Tudor Havriliuc, former vice president of HR at Meta; Paul Daugherty, retired chief technology officer at Accenture and author of…
TotalEnergies sells 50% stake in Poland’s leading biogas producer to HitecVisio
PARIS: TotalEnergies has signed a sale and purchase agreement with HitecVision, a Norwegian investment firm specializing in energy, to sell 50% of Polska Grupa Biogazowa for an enterprise value of €190 million. Polska Grupa Biogazowa, Poland’s leading biogas producer, operates 20 units with a production capacity exceeding 450 GWh of equivalent biomethane. Founded in 2007 and acquired…
Pakistan awards provisional petroleum exploration rights for 7 new blocks
ISLAMABAD: Pakistan’s Ministry of Energy has provisionally awarded petroleum exploration rights for seven new blocks to a consortium of local and international energy firms, including Oil and Gas Development Company Limited (OGDCL), officials announced Tuesday. The blocks, located in Balochistan, Sindh and Punjab provinces, were awarded following a competitive bidding round held in April. The…
Persimmon Plc has sold FibreNest to BUUK Infrastructure for £100 million
LONDON: Persimmon Plc today announces the sale of FibreNest, its full fibre broadband service, to BUUK Infrastructure, subject to regulatory clearance. FibreNest will join OFNL as part of the BUUK group which provides full-fibre and multi-utility services to new build housing developments. The discounted total enterprise value for the sale is c. £100m, with £70m…
FirstCash Holdings offers to acquire H&T Group for £297 million
LONDON: FirstCash Holdings Inc. has finalized terms for its acquisition of British pawnbroker H&T Group plc through Chess Bidco Limited, an indirect wholly owned subsidiary. Under the agreement, Bidco will purchase H&T’s entire issued and to-be-issued share capital in a cash deal structured as a scheme of arrangement under Part 26 of the Companies Act…
Gulf Marine Services loses tax appeal in Saudi Arabia, maintains EBITDA guidance
LONDON: Gulf Marine Services PLC said a Saudi court rejected its appeal of a $9.2 million tax assessment tied to transfer pricing disputes for the 2017-2019 fiscal years. The London-listed offshore energy support vessel operator disclosed the ruling in a regulatory filing Tuesday after Saudi Arabia’s Alternative Dispute Resolution Committee denied its latest settlement proposal….
AdvancedAdvT agreed to acquire HFX Limited for £5.3 million
LONDON: AdvancedAdvT Limited, the international software solutions provider for the business solutions, healthcare compliance, and human capital management sectors has agreed to acquire HFX Limited, the provider of a cloud based workforce management SaaS solution, for a total consideration of £5.3 million net of cash acquired of £0.6 million, of which £2 million is deferred…
Sureserve to acquire Kinovo PLC in £56.4 million deal
Recommended Final Cash Acquisition of Kinovo plc LONDON: Sureserve Compliance Holdings Limited, an indirect wholly-owned subsidiary of Sureserve Group Limited, has reached a final agreement to acquire Kinovo PLC in a cash deal valued at approximately £56.4 million. Under the terms of the acquisition, Kinovo shareholders will receive 87.5 pence per share in cash. The…
Gooch & Housego to acquire U.S.-based Global Photonics for $17.5 million
LONDON: Gooch & Housego PLC (AIM: GHH), the specialist manufacturer of optical components & systems, announces that it has agreed to acquire U.S.-based Global Photonics for a total consideration of $17.5 million. The acquisition is expected to be marginally earnings enhancing in the current financial year and increasingly earnings enhancing thereafter. This acquisition significantly extends…
GSK to acquire Boston Pharmaceuticals subsidiary in $2 billion deal
LONDON : GlaxoSmithKline (GSK) has agreed to acquire BP Asset IX, Inc., a subsidiary of Boston Pharmaceuticals, in a deal worth up to $2 billion to gain access to efimosfermin, a potential treatment for steatotic liver disease (SLD), the companies announced Wednesday. Under the terms of the agreement, GSK will pay $1.2 billion upfront, with…