ESPOO: Nokia (HEL: NOKIA) has been chosen by Telefónica’s Latin America brand, Movistar Chile to provide equipment from its AirScale portfolio to launch the operator’s 5G network in the country, news release said. This milestone deployment will enable 5G services for Movistar customers. In addition, Nokia will upgrade Movistar’s 4G and 4G+ networks to strengthen the critical network backbone across Chile’s…
Kristian Lustin resigns as President and CEO of RNB Retail and Brands
STOCKHOLM: Kristian Lustin has announced to the Board that he is leaving his position as President and CEO to move on to a new position at another company. He has six months’ notice. Kristian took over as President and CEO on January 1, 2020 and before that was CFO since 2015. “I want to thank…
FSS and Zwipe to launch next-generation contactless payment globally
OSLO: Financial Software and Systems (FSS), a global provider of integrated payment products and a payment processor, is partnering with Zwipe to bring next generation contactless payment cards to issuers globally. Zwipe is a payment FinTech recognized for having pioneered the development of biometric payments and has delivered many successful pilots around the world. Financial…
Eiffage wins contract for a new bridge on river Rhine for a total value of €180 million
PARIS: Eiffage, through Eiffage Métal and its subsidiaries SEH (Germany) and Iemants (Belgium), recently won, in a consortium with Hochtief and Max Bögl, the contract to build a new bridge on the Rhine in Leverkusen, Germany. The contract amounts to €180 million in total, with Eiffage’s share worth €116 million. The new 2×3 lane bridge…
Alfa Laval to acquire digital service company StormGeo for NOK 3.63 billion
STOCKHOLM: Alfa Laval AB has signed an agreement to acquire StormGeo, a global leader in weather intelligence and advanced data science solutions. The acquisition is part of Alfa Laval’s strategy to support the marine industry’s efforts to decarbonize and make operations more efficient. It will also enhance Alfa Laval’s knowledge within digital services. The closing…
Mycronic AB to acquire atg Luther & Maelzer for $125 million
STOCKHOLM: Mycronic AB is to acquire atg Luther & Maelzer GmbH, a leading global developer, manufacturer and supplier of advanced equipment for electrical testing of PCBs and substrate. The acquisition strengthens and broadens Mycronic’s offering and creates a platform in the field of electrical testing. atg, with approximately 190 employees and domiciled in Wertheim, Germany,…
Incap Corporation temporarily closes down factories in India
HELSINKI: Incap Corporation has closed down temporarily its factories in Tumkur, Karnataka from 10 May until 24 May 2021. “Incap is fully committed to support the local government in its actions to contain the virus and continues also the vaccination program for its employees. Our priority is to protect the health and safety of our…
Iconic Labs to acquire controlling stake in Sting Industries
LONDON: Iconic Labs Plc (LON: ICON) has agreed to acquire a controlling stake of unmanned drone company, Sting Industries Ltd.The consideration is payable in a combination of convertible notes, warrants and cash, and provide a long-term financing facility to meet Sting’s working capital needs. Iconic Labs Plc (LON:ICON), a cutting-edge media, data, information, internet, security,…
Technip Energies awarded contract by Indian Oil Corporation for a new PTA plant
PARIS: Technip Energies (PARIS:TE) has been awarded a large Engineering, Procurement, Construction and Commissioning (EPCC) contract by Indian Oil Corporation Limited (IOCL) for its Para Xylene (PX) and Purified Terephthalic Acid (PTA) complex project at Paradip, Orissa, on the East Coast of India. This EPCC contract covers the delivery of a new 1.2 MMTPA PTA…
Wavestone acquires consulting practice of Everest Group in the US
PARIS: Wavestone S.A has announced the acquisition of Everest Group Consulting, Everest Group’s consulting division, in the US. The transaction takes the form of the acquisition of all the assets of Everest Group’s Consulting practice from Everest Group by Wavestone. The purchase price is $10.1m (€8.3m) in enterprise value, plus an additional consideration of up…
HDFC sells 0.62% stake in HDFC ERGO to ERGO International
LONDON: Housing Development Finance Corporation Ltd. (HDFC), in accordance with the direction of Reserve Bank of India to reduce its shareholding in HDFC ERGO to 50% or below, has entered into a, agreement for sale of 44.12 million equity shares of Rs10 each, representing 0.62% of the issued and paid-up share capital of HDFC ERGO….
Open Orphan’s hVIVO to manufacture a SARS-CoV-2 challenge virus
LONDON: hVIVO, a subsidiary of Open Orphan plc (LON: ORPH), has signed a contract with Imperial College London, as part of a Wellcome Trust funded initiative to manufacture a SARS-CoV-2 challenge virus. The contract is worth £3 million and under this agreement hVIVO will develop a new SARS-CoV-2 challenge virus based on new emerging variants…