SAN FRANCISCO: Ivo (formerly known as Latch), a company specializing in generative AI-powered contract review solutions, has announced a successful funding round of $4.8 million. This investment is aimed at enhancing the capabilities of legal teams, improving their efficiency and accuracy, and accelerating the delivery of business value. The rebranding to Ivo, inspired by the…
Engro Corporation to sell its thermal assets to Liberty Power for Rs35 billion
KARACHI, PAKISTAN: Engro Corporation (ENGRO) has announced to sell its thermal power assets in what is being termed as one of the largest acquisitions in the nation’s recent history. Engro Energy Limited (EEL), ENGRO’s fully owned subsidiary, has finalized agreements to divest its entire stakes in three key entities to Liberty Power Holding (Pvt.) Limited,…
Schroder BSC Social Impact Trust commits £5 million to Savills affordable housing
LONDON: Schroder BSC Social Impact Trust plc has committed £5 million to the Savills IM Simply Affordable Homes Limited Partnership. This investment aligns with the company’s High Impact Housing asset class allocation and aims to address the pressing social challenges in the UK. The fund, managed by the esteemed Savills Investment Management, boasts an impressive…
Synechron has acquired software development company, Dreamix
LONDON: Synechron, a leading global digital transformation consulting firm focused on financial services and technology organizations, announced its acquisition of Dreamix, a custom software development company founded in 2006. Dreamix, headquartered in Sofia, Bulgaria, is a bespoke end-to-end software engineering and digital product/application development company. Dreamix caters to the customized needs of an array of…
EQT Active Core Infrastructure Fund advances negotiations to acquire Ocea Group
EQT Active Core Infrastructure Fund (“EQT”) has announced its entry into exclusive negotiations for the acquisition of Ocea Group (“Ocea”) from ICG Infrastructure Equity I (ICG Infra). This strategic acquisition is poised to bolster EQT’s presence in the environmental services market, particularly in the smart water and heat submetering domain. Ocea Group, renowned for its…
UK Government selects X-energy and Cavendish Nuclear for first advanced modular reactor award
X-Energy UK Holdings, Ltd, a subsidiary of X-Energy Reactor Company, LLC, and Cavendish Nuclear, part of Babcock International, have received a substantial funding boost from the UK Government’s Future Nuclear Enabling Fund (FNEF). The £3.34 million grant, which will be matched by X-energy, earmarks a total of £6.68 million for the development of Advanced Modular…
Assurant Inc. acquires iSmash, UK’s leading tech repair brand
LONDON: Assurant Inc. (NYSE: AIZ), a leading global provider of lifestyle and housing solutions today announced the acquisition of iSmash, the UK’s leading independent tech repair brand, offering express drop-in repair services for smartphones, tablets and laptops. Founded in 2013, iSmash has grown to 38 convenient retail locations with 152 employees across the UK. The…
Tesla eyes India for $3 billion EV factory: A strategic move in global manufacturing
Tesla will explore locations in India this month to set up an electric vehicle factory, according to a Financial Times report. Tesla’s exploration of potential locations in India for a new electric vehicle (EV) factory represents a significant development in the country’s automotive industry. The proposed investment of up to $3 billion underscores the magnitude…
SK Hynix announces $3.87 billion chip packaging plant in USA
SK Hynix, a global leader in memory chip production, has unveiled plans to invest $3.87 billion in its inaugural chip packaging plant on American soil. This move is a strategic win for the Biden administration’s initiative to bring chip manufacturing back to the U.S. The announcement was made at Purdue University in West Lafayette, Indiana,…
BYD gears up to electrify the Pickup Truck market
China’s BYD has announced its plans to roll out its inaugural electric pickup truck. This strategic launch positions the Chinese automotive powerhouse to go head-to-head with industry stalwarts such as Ford and Tesla. A Global Contender Emerges The upcoming midsize-to-large pickup truck is tailored for the international stage, according to BYD’s recent press release. While…
NKT invests in medium-voltage power cable business
In response to the surging demand for medium-voltage power cables, essential for European grid upgrades and renewable energy projects, NKT has announced significant investments to enhance production capabilities at its facilities in Denmark, Sweden, and the Czech Republic. The move aims to bolster NKT’s capacity to meet the needs of electrical grid operators undertaking extensive…
Reply Group launches LoopMind: An AI monitoring and compliance platform
Reply Group’s Sprint Reply has launched LoopMind. This innovative platform promises to revolutionize the way organizations monitor, secure, and comply with regulations when using artificial intelligence. LoopMind stands out with its ability to provide complete visibility into AI-driven workflows, ensuring adherence to the European AI Act’s standards. It emphasizes the importance of human oversight through…