LONDON: Ofgem has announced that rules preventing energy suppliers from offering lower prices exclusively to new customers will remain in place to ensure all households can access the best available deals. The regulator has decided to keep the Ban on Acquisition-only Tariffs (BAT) – which ensures all customers have access to the best deals –…
Canva acquires generative AI company Leonardo.Ai
PERTH: Canva, a world leader in visual communication with more than 190 million monthly active users, today announced plans to acquire Leonardo.AI. “With Leonardo.Ai’s incredible foundational model, and team of 120 high-caliber researchers, engineers, and designers, this acquisition bolsters our ability to supercharge our growing suite of AI products while investing in continued research and innovation…
ACA Group has acquired Encore Compliance
LONDON: ACA Group has announced the acquisition of Encore Compliance, a leader in AI compliance software solutions. This acquisition enhances ACA’s Managed Services suite of people, processes, and technology, adding AI-enabled surveillance for expert network chaperoning and research calls to help asset managers and investment advisors comply with SEC, FCA, and ESMA regulations. Additionally, this…
Altana value chain management system announces $200 million series C investment
NEW YORK: Altana, the world’s first value chain management system, announced a $200 million series C investment led by Thomas Tull’s US Innovative Technology Fund (USIT). The funding round included participation from March Capital, Generation Investment Management, Salesforce Ventures, Friends and Family Capital, and each of Altana’s key existing investors, including GV (Google Ventures), Activate…
Cepton Inc. to be acquired by KOITO Manufacturing for $3.17 per share
Cepton Inc. (Nasdaq: CPTN), a Silicon Valley innovator and leader in high performance lidar solutions, has signed a definitive agreement under which KOITO manufacturing co., ltd., a leading automotive tier one supplier, will acquire all of the outstanding capital stock of Cepton not owned by Koito for $3.17 per share in an all-cash transaction. Cepton…
Vicki Sloane appointed CEO of Oxygen Finance
LONDON: TruFin Plc announced that Vicki Sloane has today been appointed CEO of Oxygen Finance. Vicki was previously Oxygen’s Chief Client Officer (“CCO”), having held various roles since joining the organisation in 2012. As CCO she ran the Early Payment division, Oxygen’s largest revenue stream, growing the division by 26% during 2023 and by 29%…
AD1 Holdings to acquire Oliver Grace Pty Ltd for $2.0 million
Melbourne, Australia: AD1 Holdings (ASX:AD1) has entered into a conditional binding Share Purchase Agreement (SPA) to acquire 100% of the issued shares in Oliver Grace Pty Ltd. The consideration is $2.0 million. Todd Perkinson, Chief Executive Officer, said: “This is a significant period for the AD1 group and we are excited to consolidate such a…
Casey’s agrees to acquire Fikes, owner of CEFCO Convenience Stores, for $1.145 billion
IOWA: Casey’s General Stores Inc. (Nasdaq: CASY), one of the leading convenience store chains in the United States, announced an agreement to acquire Fikes Wholesale Inc., owner of CEFCO Convenience Stores, in an all-cash transaction for $1.145 billion. The purchase price includes tax benefits valued at approximately $165 million for a net after-tax purchase price…
Pelican Energy Partners acquires MillenniTek LLC
HOUSTON: Pelican Energy Partners announced the acquisition of MillenniTek, LLC. Headquartered in Knoxville, Tennessee, MillenniTek is a premier developer, manufacturer, and supplier of advanced materials for the nuclear energy industry. Since its inception in 2010 as a carve-out of Dyson Group PLC, the Company’s management team has successfully introduced new ceramic product lines and doubled overall…
Cowbell, a provider of cyber insurance, closes $60 million Series C equity investment
CALIFORNIA: Cowbell, a leading provider of cyber insurance for small and medium-sized enterprises (SMEs), has closed a $60 million Series C equity investment from Zurich Insurance Group (Zurich), a leading global multi-line insurer. With the $60 million investment, Cowbell plans to scale operations to meet growing demand, extend its presence in key international markets, bolster…
MNT-Halan has acquired Turkish-finance company Tam Finans
CAIRO: MNT-Halan, Egypt’s largest non-bank financial institution and fintech, has acquired Tam Finans, a leading commercial finance company in Turkey with a loan book exceeding US $300 million, from Actera Group, the country’s leading private equity firm, and the European Bank for Reconstruction and Development (EBRD). Terms of the transaction were not disclosed. The market…
NatWest Group acquires Metro Bank’s £2.5 portfolio of UK residential mortgages
LONDON: NatWest Group plc has entered into an agreement with Metro Bank plc to acquire a £2.5 billion portfolio of prime UK residential mortgages, with a weighted average current loan to value of c.62%. On completion of the transaction NatWest Group expects to welcome around 10,000 customer accounts which will continue to be serviced by Metro Bank, in…