SYDNEY: Thrive Tribe Technologies Limited (ASX:1TT) has announced the appointment of Jade Spooner as the new Chief Executive Officer of the ITT Group of Companies and Brands, effective immediately. In her new role, Spooner will oversee the entire ITT Group, including the health and wellness social platform Kumu, the Kumu e-commerce marketplace, and the company’s…
Sealand Capital Galaxy appoints Dr. Thomas Sawyer as CEO
LONDON: Sealand Capital Galaxy Limited [LSE: SCGL], a leading IT, social media, and technology company, announced the immediate appointment of Dr. Thomas Sawyer, Ph.D., MBA, as Chief Executive Officer. Dr. Sawyer succeeds Ms. Elena Suet Sum Law, who will retire from her role as CEO and continue as Chairwoman of the Board. Dr. Sawyer is…
Dubai Islamic Bank raises stake in Türkiye’s T.O.M. Group to 25%
DUBAI: Dubai Islamic Bank (DIB), the UAE’s largest Islamic bank, announced Monday it has increased its shareholding in T.O.M. Group from 20% to 25%. This strategic move follows the initial acquisition in September 2023, further cementing DIB’s presence in Türkiye’s dynamic financial landscape. The T.O.M. Group includes T.O.M. Katılım Bankası A.Ş. (Türkiye’s first licensed digital…
Maurel & Prom enters agreement to acquire 40% interest in Sinu-9 Gas License in Colombia
PARIS: Maurel & Prom S.A. (“M&P”) announced Monday that it has signed a letter of intent with NG Energy International Corp. (“NG Energy”), a company listed on the TSX Venture Exchange of Toronto, to acquire a 40% operated working interest in the Sinu-9 gas license in Colombia for $150 million, effective February 1, 2025. Olivier…
Cordel Group forms partnership with VRSD, a subsidiary of Vossloh AG
LONDON: Cordel Group PLC (AIM: CRDL), the Artificial Intelligence platform for transport corridor analytics, announced a new partnership with VRSD, a subsidiary of Vossloh AG. VRSD is engaged in railway related services, with expertise in rail infrastructure and rail technology markets. It provides various types of rail services and has at its disposal technical capabilities and expertise…
Intuitive Investments Group announces landmark agreement for Hui10 Inc.
LONDON: Intuitive Investments Group plc (SFS: IIG), a closed-end investment company focused on high-growth opportunities in the technology and life sciences sectors, announced a significant milestone for its investee company, Hui10 Inc. (“Hui10”). Hui10 has secured a landmark agreement with the General Administration of Sport of China. This strategic partnership provides Hui10 the opportunity to…
Brian Woodford appointed CEO of Redcentric Plc
LONDON: Redcentric plc (AIM: RCN), a leading UK IT managed services provider, announces the appointment of Brian Woodford to the Board, effective 3 February 2025. Furthermore, Brian Woodford will assume the role of CEO after an anticipated two-month transition period and a smooth handover of responsibilities, with Peter Brotherton stepping down as CEO of the…
Iress Limited to sell Superannuation Business to Apex Group
SYDNEY: Iress Limited announced it has entered into an agreement to divest its Superannuation business to Apex Group Ltd. as part of a strategic transformation. Iress, a software provider, will release $40 million AUD in cash upon completion, with additional payments of up to $20 million AUD over the next 12 months based on revenue…
Findi Limited agrees to acquire BankIT Services for A$30 million
SYDNEY: Digital payments and financial services provider Findi Limited (ASX: FND) announced Tuesday that it has agreed to acquire BankIT Services Pvt. Ltd. for A$30 million. The acquisition will be made through Findi’s majority-owned subsidiary, Transaction Solutions International (India) Pvt. Ltd. BankIT, a profitable digital financial products distributor founded in 2010 by Amit Nigam, is…
Winking Studios to acquire Shanghai Mineloader Digital Technology Co.
SHANGHAI: Winking Studios Limited, one of Asia’s largest AAA game art outsourcing studios, announced a proposed conditional acquisition of Shanghai Mineloader Digital Technology Co., Ltd., a leading game art outsourcing and development studio. The acquisition, funded from Winking Studios’ internal cash resources, is valued at approximately RMB 146 million (about S$27.2 million or £16.3 million)….
Petershill Partners sells major stake in General Catalyst for $726 million
LONDON: Petershill Partners has completed the sale of most of its stake in General Catalyst for $726 million, reflecting a 62% premium to its $447 million carrying value as of June 2024. This sale is part of a capital restructuring involving General Catalyst and external investors. Since Petershill’s 2018 investment, General Catalyst has evolved from…
Carr’s Group agrees to sell Engineering Division for £75 million
LONDON: Carr’s Group has announced the sale of its Engineering Division, comprised of Carr’s Engineering Limited and Carr’s Engineering (US), Inc., to Cadre Holdings, Inc. for a cash consideration of £75 million on a cash-free, debt-free basis. Transaction Highlights: – The sale, valued at £75 million, represents a multiple of 7.1x FY24 Adjusted EBITDA. –…