Ingka Group, the principal owner of IKEA stores globally, is exploring its first renewable energy investment opportunities in South Korea and Japan. The company’s investment arm, Ingka Investments, has identified offshore wind as a particularly promising option for these markets. Peter van der Poel, Managing Director of Ingka Investments, shared with Reuters that while the…
Apple supplier Foxconn posts 11.8% increase in revenue
Hon Hai Precision Industry Co Ltd, as Foxconn is formally known, reported a robust T$447.54 billion ($13.96 billion) in revenue last month, marking an 11.8% increase from the previous year and the second-highest figure for the period on record. However, the first quarter witnessed a 9.6% decline in revenue year-on-year, totaling T$1.322 trillion, which did…
Apple to layoff of 614 employees in California
Apple Inc. has announced the layoff of 614 employees across various facilities in Santa Clara, California. This move marks the tech giant’s first major reduction in workforce since the onset of the pandemic. The affected personnel, who were notified on March 28 with the changes set to take effect on May 27, held positions ranging…
Virtusa Corporation has acquired ITMAGINATION in Poland
Virtusa Corporation, a global provider of digital strategy services and solutions announced the acquisition of ITMAGINATION Sp. z o.o., a leading technology consulting firm headquartered in Warsaw, Poland. This strategic move reflects Virtusa’s commitment to enhancing its digital transformation offerings and expanding its nearshore delivery capabilities. Founded in 2008, ITMAGINATION has established itself as a…
Kia presents roadmap to lead global electrification era through EVs, HEVs and PBVs
Kia Corporation is accelerating its transformation into a leading provider of sustainable mobility solutions. At the recent CEO Investor Day in Seoul, the company unveiled its updated roadmap, designed to navigate the evolving landscape of the mobility industry with a particular emphasis on the electric vehicle (EV) market. Expanding the EV Horizon Kia’s commitment to…
Hitachi Industrial Equipment Systems acquires Mitsubishi Electric’s Distribution Transformer Business
TOKYO: Hitachi Industrial Equipment Systems Co., Ltd., headquartered in Chiyoda-ku, Tokyo, has reached an agreement with Mitsubishi Electric Corporation to acquire the latter’s distribution transformer business from its Nagoya Works. This acquisition is part of a broader business integration strategy aimed at enhancing the development and manufacturing of factory automation equipment. The transfer process, which…
John Bean Technologies to launch takeover offer for Marel in May
AMSTERDAM: Marel has announced its entry into a transaction agreement with John Bean Technologies Corporation (JBT). This move comes after JBT’s voluntary takeover offer for all issued and outstanding shares in Marel, signaling a potential consolidation in the sector. John Bean Technologies proposes to acquire Marel in a euro 2.7 billion deal The Boards of…
Tokens.com has acquired AI and robotics firm, Simulacra Corporation
TORONTO: In a significant move within the technology investment landscape, Tokens.com Corp. (TSX-V: COIN) has entered into a definitive agreement to acquire Simulacra Corporation, a Nevada-based innovator in artificial intelligence and humanoid robotics. The agreement, dated April 4, 2024, will see Tokens.com, also known by its stock symbols on the Frankfurt Stock Exchange (76M) and…
Trinity Investments, Oaktree Capital, and UBS consortium acquires Park Hyatt Zurich
LONDON: A consortium consisting of Trinity Investments, Oaktree Capital Management, and UBS Asset Management’s Real Estate & Private Markets Multi-Managers business has successfully acquired the prestigious Park Hyatt Zurich. “The Park Hyatt Zurich is the perfect launch of Trinity’s business model into Europe,” said Ryan Donn, Managing Partner of Trinity Investments. “We were able to…
Full Glass Wine Co. raises $14M in Series A Funding; acquires Bright Cellars
Full Glass Wine Co., a leader in direct-to-consumer wine sales, has announced the closure of a $14 million Series A funding round led by Shea Ventures. Alongside this, the company has strategically acquired Bright Cellars, a subscription-based wine service, marking a significant expansion in the DTC wine market. Louis Amoroso, Full Glass Wine Co-Founder and…
GHD has appointed Jim Giannopoulos as Chief Executive Officer
MELBOURNE: Global professional services company, GHD, has appointed Jim Giannopoulos as Chief Executive Officer, succeeding Ashley Wright and effective 2 April 2024. The planned transition process, announced to shareholders and employees in December, continues the employee-owned company’s history of succession from within its operations. Giannopoulos was most recently CEO – Americas, having led the Canadian…
Wendel has sold 9% shares in Bureau Veritas for 1.1 billion euros
PARIS, FRANCE: Wendel has successfully completed the sale of 40.5 million shares in Bureau Veritas by way of an accelerated bookbuilding process, representing c. 9% of the company’s share capital, for total proceeds of approximately 1.1 billion euros. As part of the Offering, the Lac1 fund, managed by Bpifrance, has purchased c.4% of Bureau Veritas’…