HAMILTON: The Board of Seadrill Limited announced the appointment of Stuart Jackson as Chief Executive Officer. Stuart Jackson, currently Chief Financial Officer, will succeed Anton Dibowitz as Chief Executive Officer with immediate effect. Following Stuart’s appointment, the role and responsibilities of the Chief Financial Officer will be divided into two new roles: Grant Creed will…
Techstep has completed the acquisition of Optidev AB
OSLO: Techstep ASA has completed the acquisition and assumed 100% ownership of Optidev, a news release said. The purchase price for Optidev has partly been settled by the issuance of new Techstep shares, and the board of directors of Techstep has thus resolved to issue 19,744,177 new shares at a par value of NOK 1…
Aker Solutions to provide Subsea Production System for Tommeliten Alpha Development in Norway
OSLO: Aker Solutions won an order from ConocoPhillips to deliver the subsea production system for the Tommeliten Alpha development offshore Norway. The estimated contract value is about NOK 1.2 billion, a news release said. The scope of work covers a complete subsea production system including 10 vertical subsea trees, two manifolds, wellheads, satellite structures, control…
Pakistan’s on-demand platform Bykea raises $13 million in Series B funding
KARACHI: Bykea, a Pakistan-based on-demand transport & logistics platform, announced that it has raised a Series B funding round led by Prosus Ventures (formerly Naspers Ventures). The round, which brought the total funds raised to US$22 million, saw participation from existing investors Middle East Venture Partners and Sarmayacar. As the pioneer and leader in motorbike…
Tata Motors registered domestic sales of 1,06,888 units in Q2 FY21
MUMBAI: Tata Motors Limited today announced its sales in the domestic & international market, for Q2 FY21, which stood at 1,10,379 vehicles, compared to 1,05,031 units during Q2 FY20. Mr. Girish Wagh, President, Commercial Vehicles Business Unit, Tata Motors Ltd. said, “Tata Motors’ commercial vehicle domestic sales in Q2FY21 at 52,094 units was 23% lower…
SGX wins Exchange of the Year at FOW Asia Capital Markets Awards
SINGAPORE: Singapore Exchange (SGX) has again won the “Exchange of the Year” accolade at the FOW Asia Capital Market Awards 2020 for its leadership in supporting clients with a pan-Asia waterfront of derivatives, amid heightened uncertainty in global markets. SGX’s focus on customer-first execution enabled market participants to manage risk round-the-clock, even as the spread…
FCPT acquires Popeyes Restaurant for $1.6 million
MILL VALLEY: Four Corners Property Trust (FCPT), announced the acquisition of a Popeyes restaurant property for $1.6 million from the Seritage transaction announced in October 2019 and expanded in August 2020. The Popeyes (franchisee lease) is located in South Carolina and is situated within a highly trafficked and populated corridor. The property has a remaining…
Amazon Transparency launches in Japan, Australia
SEATTLE: Amazon has announced the expansion of Transparency to two new countries – Japan and Australia – making it available in 10 countries where Amazon has a store. Amazon Transparency is also celebrating a milestone of enrolling over 10,000 brands into the program. Transparency, launched in 2018, is a product serialization service that builds on…
AWS announces general availability of Amazon Timestream
SEATTLE: Amazon Web Services (AWS) has announced the general availability of Amazon Timestream, a new time series database for IoT and operational applications that can scale to process trillions of time series events per day up to 1,000 times faster than relational databases, and at as low as 1/10th the cost. Amazon Timestream saves customers…
CrowdStrike completes acquisition of Preempt Security
SUNNYVALE: CrowdStrike Holdings has completed its acquisition of Preempt Security, a leading provider of Zero Trust and conditional access technology for real-time access control and threat prevention, a news release said. “We are excited to welcome the Preempt team to CrowdStrike as we join forces to stop breaches,” said George Kurtz, co-founder and chief executive…
Babylon Pump & Power Limited acquires assets from Tilbrook Ryder Investments
PERTH: Babylon Pump & Power Limited has entered into an unconditional agreement for the acquisition of assets from Tilbrook Ryder Investments Company Pty Ltd. The transaction is expected to complete on 1 October 2020 and will be funded by a cash payment of $750,000 from existing asset finance facilities and issuance of 7,142,856 fully paid…
United Networks Limited (UNL) completes sixth acquisition in a Year
PERTH: United Networks Limited (UNL) has acquired Red Telecom Pty Ltd Business, a telecommunications service provider, increasing its recurring revenue and completing its 6th acquisition in 11 months. Benefits of the Acquisition: ●Increases annualised recurring revenue by $1.4M ●Increases average GP across all services in the business ●Streamlines operational efficiencies from the increase in scale…