LONDON: THG Holdings plc has agreed to acquire Dermstore.com, the US number 1 pure-play online retailer of prestige skincare and specialty beauty brands for $350m in cash from US retailer Target Corporation. The deal represents a c. 1.8x 12 months’ forward revenue multiple and is subject to regulatory approval in the United States. The Group…
PetroTal recommences oil sales into the pipeline
CALGARY: PetroTal Corp. announced that social issues affecting the Northern Oil Pipeline (ONP), operated by Petroperu, have now been resolved. As a result, PetroTal has now recommenced oil deliveries at Saramuro (Pump Station #1), for sales into the ONP. The social disruption had impacted the ONP’s operations for 85 days and, as a result of…
Argentina Receives the First Shipment of Russia’s Sputnik V Vaccine
BUENOS AIRES: The first batch of the Sputnik V vaccine developed by Russian scientists from the Gamaleya National Center of Epidemiology and Microbiology with the support of the Russian Direct Investment Fund (RDIF) has been delivered to Argentina. The issues related to the transfer of technology for the production of the Sputnik V vaccine abroad…
C-RAD receives order for proton cancer treatment centers in the US
HELSINKI: C-RAD AB announced that C-RAD has been selected as the partner to implement surface tracking technology for three proton cancer treatment centers in the US. C-RAD offers a specific version of its Catalyst™ System for use in proton and particle therapy – Catalyst PT. It is based on the patented Catalyst technology and software…
Elliptic Labs and Xiaomi launch flagship Xiaomi Mi 11 smartphone
OSLO: Elliptic Labs — the world leader in Virtual Smart Sensors — and Xiaomi, the fastest growing smartphone manufacturer in Europe, have launched the flagship smartphone Xiaomi Mi 11 as the latest leader in smartphone design. The Xiaomi Mi 11 uses Elliptic Labs’ AI Virtual Smart Proximity Sensor INNER BEAUTY and is the first smartphone…
Elliptic Labs
Elliptic Labs is headquartered in Norway with presence in the USA, China, South Korea, and Japan. Founded in 2006 as a research spin-off from Norway’s Oslo University, it is now a global enterprise targeting the smartphone, laptop, IoT, and automotive markets. The company’s patented AI software combines ultrasound and sensor-fusion algorithms to deliver intuitive 3D…
IDEX Biometrics and Goldpac achieve China Union Pay certification for dual interface biometric payment cards
OSLO: IDEX Biometrics ASA, a leading provider of advanced fingerprint identification and authentication solutions, announced that its dual interface technology is included in a biometric payment card certified by China Union Pay (CUP). The certification was achieved with Goldpac Group Ltd, a global leading Fintech technology and service provider. Goldpac is a leading secure payment…
Al Mal Capital raises AED 350 million in the IPO
DUBAI: Al Mal Capital has successfully raised AED 350 million in the initial public offering (IPO) of units in Al Mal Capital REIT, its newly founded entity, having closed the subscription period on 8th December 2020. Al Mal Capital, the fund Manager, received SCA’s approval to float Al Mal Capital REIT and list its units…
Smart Radar System attracts $10 million global strategic investments
SEONG-NAM CITY: Smart Radar System Inc., a leader in image radar technology for automotive and industrial applications, has succeeded in attracting 11.2 Billion Korean Won ($10+ million USD) in investments from domestic and foreign venture capital and strategic investors. Despite the decline in corporate activities due to the COVID-19 pandemic, Smart Radar System Co., Ltd….
Fitch affirms QIIB strong rating at ‘A’ with a stable outlook
DOHA: Global credit rating agency Fitch published the Qatar International Islamic Bank (QIIB)’s full rating report which demonstrating the same QIIB’s strong rating at ‘A’ with a stable outlook. This is based on the Bank’s financial statements at the end of the third quarter of 2020, which attests to the fact that QIIB has maintained…
GFH acquires Roebuck, a specialised logistics & real estate asset manager in the UK
DUBAI: GFH Financial Group (GFH) has acquired a majority stake in Roebuck Asset Management, UK , a UK and European logistics and business space focused real estate asset manager. Roebuck, which was founded in 2009 by Hugh Macdonald-Brown and Nick Rhodes, has managed assets with a total investment value exceeding £1.4 billion covering over 15…
Luxxfolio to buy 590 bitcoin miners for $1.17 million
VANCOUVER: Luxxfolio Holdings Inc. through their wholly owned subsidiary Luxxfolio Network Inc. has placed an order for 590 bitcoin miners with an aggregate operating hash power of 53.1 Petahash (PH) per second. The cost of the Assets is approximately USD$1,990 per unit or USD$1.174 million and will be purchased through an asset backed lending (ABL)…