LONDON: Euromoney Institutional Investor PLC (LON: ERM) has acquired the Relationship Science (RelSci) for $7.4 million, a news release said. RelSci is a global relationship-mapping data provider serving financial, professional services and not-for-profit organisations. Its platform contains over 9 million profiles of global business leaders and senior management, and its proprietary software enables clients to…
JSW Steel is not bidding to buy Liberty Steel’s assets
MUMBAI: JSW Steel Limited has refuted the reports regarding bidding to buy Liberty Steel’s assets in UK. “It is hereby clarified that such reports stating about the JSW Steel’s interest in bidding/buying Liberty Steel’s assets are not only speculative but also misleading and mischievous”. JSW Steel Ltd. is the flagship company of the JSW Group…
Pakistan posts 3.94% GDP growth in FY21
The National Accounts Committee (NAC), in its 103th meeting, presented the provisional growth estimates of the GDP. Despite epidemiologic resurgence in the current fiscal year, Pakistan’s economy remained resilient and marked a growth of 3.94%, defying the projections of the IMF (1.5%) and the World Bank (1.3%). A few key areas mentioned in the NAC’s…
Aleksey Ivanov appointed CEO of EVRAZ as Frolov stepping down
LONDON: After serving as CEO of EVRAZ Plc for 14 years, Alexander Frolov is stepping down from the role on 31st August 2021, a news release said. Frolov will continue as a non-executive director so that his extensive knowledge and experience remain available to the business. The Board approved today the appointment of Aleksey Ivanov…
Netoil Capital acquires Noridc Petroleum in a share exchange deal
OSLO: Netoil Capital Ltd. (NOC) has reached agreement to acquire all shares of Nordic Petroleum AS against the issue of 1.95 million shares in NOC, a news release said. The acquisition increases the number of shareholders in NOC, thereby broadening its investor base. Nordic has 1080 shareholders and as such will contribute to this. Netoil…
Airtasker acquires Zaarly for $3.4 million
SYDNEY: Airtasker Limited has completed the acquisition of Zaarly, a US-based local services marketplace, for $3.4 million. The acquisition of Zaarly provides Airtasker with more than 597,000 registered users (Customers) and 900+ verified service providers (Taskers) to jump start expansion in the US. Zaarly’s highly experienced team of marketplace product, engineering and operations executives will…
Elop and DEKRA to create InsightCrawler, an inspection robot for concrete structures
OSLO: Elop AS and DEKRA Visatec GmbH entered LOI with intention to finalize commercial agreement in august and to launch their new combined solution in the market early next year. The two companies intend to combine Elop’s patented rolling ultrasound technology with a vacuum crawler designed for concrete structures to create the “InsightCrawler” – an…
Ørn Software to acquire Norwegian company Landax for NOK 95 million
TRONDHEIM: Ørn Software has signed an agreement to acquire the Norwegian Quality Management Software-as-a-Service (SaaS) company Landax, a news release said. The transaction is based on an enterprise value of NOK 95 million and implies a multiple of 4.5x on ARR. The transaction will be settled with 80% cash at closing and 20% in Ørn…
Ares Management to acquire Black Creek Group’s U.S. real estate investment management business
LOS ANGELES: A subsidiary of Ares Management Corporation (NYSE: ARES) has entered into a definitive agreement to acquire 100% of Black Creek Group’s U.S. real estate investment management firm (Black Creek), a news release said. The transaction consideration will include an upfront amount comprised of a combination of cash and Ares Operating Group Units in…
Zhang Yiming stepping down from his role as CEO ByteDance Ltd.
SINGAPORE: Zhang Yiming, founder of ByteDance Ltd., will step down from his role as chief executive officer, media reported. The owner of the popular short-video app TikTok says human resources chief Rubo Liang will become the new CEO. Zhang Yiming is a Chinese billionaire internet entrepreneur. He founded ByteDance in 2012 and developed the news…
Nanosys acquires glō
SILICON VALLEY: Nanosys Inc., supplier of quantum dot light emitting materials and technology, announced the acquisition of glō, the leading technology company for microLED displays. The transaction significantly expands Nanosys’ capabilities and technology offerings, accelerating the company’s development and progress toward the widespread adoption of microLED and nanoLED display technology for future displays, a news…
H.I.G. Capital to acquire Travis Perkins’s plumbing & heating business for £325 million
LONDON: H.I.G. Capital’s affiliate has signed a definitive agreement to acquire Travis Perkins Plc’s Plumbing & Heating business, a news release said. The divestiture is valued at approximately £325 million, and the transaction is expected to be completed within the next three months, following regulatory approval. headquartered in Northamptonshire, P&H operates under its primary trading…