PERTH: FE Investments Group Limited has appointed Rhys Cain and Rees Logan of Ernest and Young (EY) as liquidators of its wholly owned New Zealand subsidiary, FE Investments Limited (FEIL). Cain and Logan have been appointed to protect the interests of creditors of FEIL and amongst their other duties, to undertake any statutory investigations that…
REPAY acquires AP automation provider cPayPlus for $16 million
ATLANTA: Repay Holdings Corporation, a leading provider of vertically-integrated payment solutions, announced the acquisition of cPayPlus LLC for up to $16.0 million, of which $8.0 million was paid at closing. The remaining $8.0 million may become payable in the third quarter of 2021, dependent upon the achievement of certain growth targets. The closing of the…
Health Discovery files infringement suit against Intel Corporation
ATLANTA: Health Discovery Corporation, an intellectual property development company with an intellectual property portfolio using patent protected advanced mathematical techniques, announced that it has filed an infringement lawsuit against Intel Corporation. This infringement suit pertains to Health Discovery’s Support Vector Machine-Recursive Feature Elimination methods (SVM-RFE) patents. On February 27, 2019, the United States Patent and…
Lineage Logistics signs definitive agreement to acquire Ontario Refrigerated Services
NOVI: Lineage Logistics LLC, the world’s largest and most innovative provider of temperature-controlled logistics solutions, announced it has signed a definitive agreement to acquire Ontario Refrigerated Services Inc. (ORS), a leading family-operated cold storage company offering temperature-controlled space in the Greater Toronto market, marking Lineage’s entrance into the Canadian market. Established in 2003 by Founder…
Sierra Wireless to sell its China based product line for US$165 million
VANCOUVER: Sierra Wireless, the leading IoT solutions provider, announced a definitive agreement to divest its Shenzhen, China-based automotive embedded module product line for US$165 million in cash. The purchaser, Rolling Wireless (H.K.) Limited, is a consortium led by Fibocom Wireless Inc. of Shenzhen (Shenzhen Stock Exchange Code 300638). “This divestiture enables Sierra Wireless to strengthen…
IAG and American Express extend global partnership
LONDON: International Airlines Group (IAG) announces that it has signed a multi-year renewal extending its worldwide commercial partnership with American Express. Under the agreements American Express will make a payment to IAG Loyalty of approximately £750 million, a significant part of which is a pre-purchase of Avios points that American Express will utilise in the…
Provident Financial appoints David Shrimpton as MD of car finance division, Moneybarn
LONDON: Provident Financial plc announced the appointment of David Shrimpton as Managing Director of Moneybarn, its car finance division, subject to regulatory approval. He has been acting Managing Director of Moneybarn since March 2020, following Shamus Hodgson’s departure. David Shrimpton has excellent banking and consumer finance experience, in both customer service and operational roles. He…
Creo Medical Group acquires Albyn Medical for any equity value of €24.8 million
LONDON: Creo Medical Group plc, the medical device company focused on the emerging field of surgical endoscopy, announced the acquisition of Albyn Medical S.L., a European specialist in the supply and manufacture of Gastroenterology, Urology and Endoscopy products to healthcare providers, for an equity value of €24.8 million plus up to €2.7m of performance related…
NOVATEK shipped first LNG cargo to Japan via northern sea route
MOSCOW: PAO NOVATEK announced today that NOVATEK Gas & Power Asia Pte. Ltd., a wholly owned subsidiary, shipped the first cargo of liquefied natural gas (LNG) from the Yamal LNG project to Japan transported eastbound via the Northern Sea Route. The LNG cargo was delivered by the LNG tanker “Vladimir Rusanov” under a spot contract…
Most expensive schools criticised for turning a blind eye to bullying
GENEVA: Dr Eric Debarbieux, Professor Emeritus University of Paris-Est and a member of the International Observatory of Violence in Schools, has warned that some private schools are failing to protect their students from bullying and uphold values of tolerance and respect. Dr Eric Debarbieux has discussed how some schools are failing to adequately train their…
IHIG Pakistan expands its portfolio to build shopping malls
KARACHI: International Hospitality Investment Group (IHIG) Pakistan, a subsidiary of IHIG UK, announced expansion of its portfolio to build shopping malls, with the fractional ownership system. The first project under its real estate division is launched in the heart of Karachi as a part of IHIG’s investment expansion plans in Pakistan. Explaining the concept, Mr….
USDOT unveils guidance document for regulation of hyperloop in the United States
WASHINGTON: Today, US Department of Transportation (USDOT) Secretary Elaine Chao and the Non-Traditional and Emerging Transportation Technology (NETT) Council unveiled the guidance document on a clear regulatory framework for hyperloop in the United States. “This guidance bridges the gap between innovator and regulator, prioritizes safety during development without hampering innovation, and promotes mutual awareness between…