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. –…
DiscoverIE acquires German sensor manufacturer Burster Group for €30.6 million
LONDON: DiscoverIE Group plc, a leading international designer and manufacturer of customized electronics, has announced the acquisition of German-based specialist sensor manufacturer Burster Group for €30.6 million (£25.9 million) in an initial cash consideration. The deal will be funded from DiscoverIE’s existing debt facilities and includes an earn-out of up to €12.4 million (£10.5 million),…
Optima Health announces acquisition of BHSF Occupational Health
LONDON: Optima Health (AIM: OPT), the UK’s foremost provider of technology-enabled corporate health and wellbeing solutions, announced Thursday an agreement to acquire the entire issued share capital of BHSF Occupational Health Limited from BHSF Group Limited. The acquisition, valued at £1.4 million on a cash-free, debt-free basis, is poised to expand Optima Health’s customer base…
IG Group Holdings acquires Freetrade for £160 million
LONDON: IG Group Holdings plc has announced the acquisition of Freetrade, a fast-growing, commission-free, self-directed investment platform, for £160 million. This acquisition aims to strengthen IG’s UK trading and investments offerings and provide access to new customer segments and capabilities. Breon Corcoran, CEO of IG, stated that this acquisition presents a rare opportunity to enhance…
Fortress Investment Group makes revised offer to acquire Loungers Plc
LONDON: Loungers plc and CF Exedra Bidco Limited, a company indirectly owned by Fortress Investment Group, LLC, have announced an agreement for Bidco to acquire the entire issued and to be issued share capital of Loungers. The acquisition will be executed through a Court-sanctioned scheme of arrangement under Part 26 of the Companies Act 2006….
Wabtec Corporation announces acquisition of Evident’s Inspection Technologies
Wabtec Corporation (NYSE: WAB) has announced a definitive agreement to acquire Evident’s Inspection Technologies division. The division, formerly part of the Scientific Solutions Division of Olympus Corporation, is recognized globally for its industry-leading technologies in Non-Destructive Testing, Remote Visual Inspection, and Analytical Instruments solutions for mission-critical assets. The acquisition is set to significantly enhance Wabtec’s…
Uvaro acquires Lighthouse Labs, enhances workforce development programs
TORONTO: Uvaro, a leader in career success and workforce development programs, has acquired tech education leader Lighthouse Labs, becoming one of Canada’s largest workforce development organizations. This acquisition aims to create a national platform and network that will equip individuals, businesses, and communities with the skills and tools needed to thrive in a fast-changing economy….
World Bank highlights urgent need for robust AI governance
The World Bank has released a report emphasizing the urgent need for effective AI governance as artificial intelligence becomes increasingly integral to global economies and societies. The rapid advancement of AI technologies and their widespread adoption across various sectors, including healthcare, finance, agriculture, and public administration, present both unprecedented opportunities and significant risks. Ensuring that AI is…