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…
Steven Schneider appointed CEO of Phone2Action
ARLINGTON: Steven Schneider, former chief executive at Logi Analytics, joined Phone2Action as CEO while Co-Founder Jeb Ory transitions into a new role as President and Chief Strategy Officer. Phone2Action, the leading public affairs and government relations technology platform, has expanded its leadership team. “This is a milestone in our continuing journey to support public affairs,…
Norways’ Financial Supervisory Authority permits SpareBank 1 BV and Sparebanken Telemark merger
OSLO: The Financial Supervisory Authority of Norway (NoFSA) has now granted the necessary permits to carry out the merger between SpareBank 1 BV and Sparebanken Telemark in accordance with a decision made by the banks’ Supervisory Board on 25 March 2021. Finanstilsynet has set Pillar 2 requirements for the merged bank on core tier 1…
Kistos Plc completes EUR 222.75 million acquisition Tulip Oil Netherlands B.V.
LONDON: Kistos Plc (LON: KIST) announced the completion of the acquisition of the entire issued and outstanding share capital of Tulip Oil Netherlands B.V. Kistos has committed to ensuring its Scope One Emissions are net zero from completion. The producing asset Q10-A has a uniquely low carbon footprint given the platform is powered by wind…
Jacques Bogart proposes to acquire fragrance boutique chain Nocibé in France
PARIS: Jacques Bogart has submitted a firm offer to acquire a portion of the assets of fragrance boutique chain Nocibé in France, a news release said. Nocibé posts turnover of around €1 billion through a chain of around 600 sales outlets in France. At the start of the year, brand owner Groupe Douglas announced the…
Yew Grove REIT acquires properties in Dublin for €8 million
LONDON: Yew Grove REIT plc (LON:YEW) has exchanged contracts for the purchase of an industrial building in Dundalk and two adjoining office properties in Citywest Dublin. In Dundalk, the Company has exchanged contracts on Tanola House on Coes Road, Dundalk, a recently constructed high bay industrial building of 86,451 sq. ft. over two adjoining blocks….
LondonMetric Property announces £13.5 million property acquisitions
LONDON: LondonMetric Property Plc announced the acquisition of two vacant London warehouse assets in Brent Cross and Streatham for a combined purchase price of £13.5 million. The Company has agreed a new 20 year lease with Jacuna Kitchens across c.75% of the combined space. Jacuna will operate c.100 dark kitchens across both locations and LondonMetric…