DUBAI: TECOM Group, the creator of specialised business districts and vibrant communities in Dubai, has announced its best-ever financial and operational performance for the year 2023, along with a cash dividend of AED 800 million for its shareholders. The Group held its Annual General Assembly Meeting at Dubai Internet City, where it approved the financial…
CEVA Logistics withdraws bid for Wincanton after rival offer
LONDON: CEVA Logistics UK Rose Limited, a subsidiary of French shipping giant CMA CGM S.A., has decided to drop its bid for British logistics company Wincanton plc after a competing offer emerged. CEVA had agreed to buy Wincanton for £1.2 billion in cash in January, in a deal that would have created a leading logistics…
Argo Blockchain sells Quebec data center for $6.1 million, cuts debt and costs
LONDON, UK: Argo Blockchain plc, a global leader in cryptocurrency mining, announced on Monday that it has agreed to sell its Quebec data center in Mirabel, Quebec, for $6.1 million. The deal is expected to close by the end of March 2024, subject to regulatory approvals and other conditions. The sale will help Argo reduce…
Active Energy settles dispute with PDI over CoalSwitch® production
LONDON: Active Energy, a renewable energy company, has reached a settlement agreement with Player Holdings and its subsidiaries (PDI) over the former production of CoalSwitch®, a biomass fuel, at PDI’s facility in Maine. The settlement involves PDI paying Active Energy $1.65 million and taking over some of the production equipment that Active Energy had invested…
Investment Evolution Credit to launch consumer lending in Spain with new subsidiary
LONDON: Investment Evolution Credit plc (IEC), a global fintech group specialising in online consumer loans, has signed an agreement to set up a new subsidiary in the US, MRAL Spain Corporation (MRAL Spain), which will offer consumer credit in Spain. The agreement involves IEC’s US subsidiary, Investment Evolution Corporation (IEC US), and a Spanish company,…
Hochschild Mining to acquire Brazilian gold project from Cerrado Gold
LONDON: Hochschild Mining PLC, a London-based precious metals producer, announced that it has secured an option to buy the Monte Do Carmo gold project in Brazil from Cerrado Gold Inc., a Canadian exploration and development company. The project, located in the state of Tocantins, has a resource estimate of over one million ounces of gold…
Viavi Solutions offers to acquire Spirent Communications for £1.005 billion
LONDON, UK: Spirent Communications, a leading provider of test and measurement solutions for the communications industry, has agreed to be acquired by Viavi Solutions. The deal, which values Spirent at about £1.005 billion, will be implemented through a scheme of arrangement under UK law. Spirent shareholders will receive 175p per share in cash, comprising 172.5p…
Ubirider closes $1.95 million seed round, set to disrupt mobility fintech market
Ubirider, a mobility fintech company, has secured $1.95 million in a seed round co-led by Techtree Investments and Cedrus R&D III. The company’s platform, Ubirider Platform, is a digital mobility-as-a-service (MaaS) solution that connects transport providers, riders and cities, and enables seamless movement of people, information and payments. The funding will be used to grow…
EROAD appoints dual-CEO to boost global growth
AUCKLAND: EROAD, a transport and telematics technology company, has announced the appointment of David Kenneson as dual-CEO, effective today. He will work alongside Mark Heine, who has been leading the company for nine years, as part of the next phase of its global growth strategy. The company said the dual-CEO model will enable it to…
Perform[cb] acquires reward advertising leader AdCommunal
Perform[cb], a leader in outcome-based user acquisition, has acquired AdCommunal, a provider of performance-based reward advertising, to offer brands a more diversified and engaging media mix. AdCommunal, founded in 2007 by Neil Rajadurai, delivers a unique rewarded experience that enhances customer engagement across various sectors, such as mobile app, finance, and e-commerce. The company creates…
Oatey acquires Swedish valve maker Durgo to boost global presence
Oatey Co., a leading plumbing company in the U.S., announced today that it has acquired Durgo, a Swedish developer and manufacturer of air admittance valves and other pressure regulating valves. Durgo, founded in 1921, is a well-known brand in the plumbing industry in Europe and Asia, with a reputation for quality and safety. The company…
Argo MRT Americas acquires Techni-Air 2000 Inc. to expand its line maintenance services
Argo MRT Americas, an affiliate of DRAKKAR, has announced the acquisition of Techni-Air 2000 Inc., a Montreal-based aircraft maintenance provider. The deal gives Argo MRT Americas 100% ownership of Techni-Air 2000 Inc., which is known for its tailor-made, technical handling solutions for airlines. The acquisition broadens Argo MRT Americas’ offering by introducing a second service…