NEW YORK: Ambac Financial Group Inc (AMBC.N) said on Tuesday it has agreed to acquire supplemental health insurance program manager ArmadaCare from SiriusPoint Ltd (SPNT.N) for $250 million in a move to diversify its distribution business. The acquisition will accelerate the growth of Ambac’s distribution platform and strengthen its presence in the specialty insurance market,…
Credo Technology acquires Hyperlume to advance MicroLED connectivity for AI infrastructure
SAN JOSE: Credo Technology Group Holding Ltd (NASDAQ: CRDO) said on Tuesday it has completed the acquisition of privately-held Hyperlume Inc., a developer of microLED-based optical interconnect technology, in a move aimed at strengthening its portfolio of high-speed, energy-efficient connectivity solutions for AI-driven data infrastructure. The deal marks a strategic expansion for Credo, which provides…
Uscom to sell entire business to Singapore’s AXO Medtech, pending shareholder nod
SYDNEY: Australian-listed medical technology company Uscom Limited said on Tuesday it has agreed to sell its entire business and assets to Singapore-based investment fund AXO Medtech VCC, a move aimed at rescuing the loss-making firm. The sale, which is subject to shareholder approval at a general meeting scheduled for Nov. 11, will see Uscom divest its…
Australian broadcasters Seven West Media and Southern Cross Media to merge
SYDNEY: Australian media companies Seven West Media Ltd (SWM.AX) and Southern Cross Media Group Ltd (SXL.AX) on Tuesday announced an all-scrip merger agreement to create a leading integrated media platform, aiming to better compete for advertising revenue in a fragmented market. Under the terms of the deal, Southern Cross Media (SCA) will acquire all shares…
United Oil & Gas reports progress on Jamaican exploration, eyes farm-out partner
LONDON: United Oil & Gas Plc (AIM: UOG) on Monday reported unaudited results for the six months ending June 30, 2025, highlighting significant progress on its high-impact Walton Morant exploration licence offshore Jamaica. CEO Brian Larkin said the company had “strengthened the foundations for value creation” at Walton Morant, citing a two-year licence extension to…
Saudi Arabia’s PIF, Silver Lake, Kushner’s Affinity to acquire Electronics Arts in record $55 billion deal
Video game giant Electronic Arts Inc agreed to be acquired by a consortium including Saudi Arabia’s Public Investment Fund, U.S. private equity firm Silver Lake, and Affinity Partners in a landmark $55 billion all-cash deal that would be the largest leveraged buyout in history. Under the terms of the deal announced on Monday, shareholders of…
Devolver Digital reports H1 2025 results, confident in full-year outlook
Revenue for the period was $38.8 million, a 24.8% decrease from the $51.6 million reported in the same period last year LONDON: Video game publisher Devolver Digital Inc. announced Tuesday its unaudited financial results for the six months ended June 30, 2025, reporting a decline in revenue but affirming it is on track to meet its…
Natascha Viljoen to become first female CEO of Newmont Corp. in January
DENVER: Newmont Corp. announced Monday that President and Chief Operating Officer Natascha Viljoen will succeed Tom Palmer as chief executive officer, effective Jan. 1. Palmer, who has led the world’s largest gold miner since 2019, will step down from the board and retire as CEO on Dec. 31, capping a 12-year tenure with the company…
TotalEnergies divests 50% of 1.4 GW solar portfolio in North America for $950 million
PARIS: TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) has signed an agreement with insurance vehicles and accounts managed by KKR, a leading global investment firm, for the sale of 50% of a 1.4 GW solar portfolio in North America. This transaction – which aligns with TotalEnergies’ renewables business model – values the portfolio at an enterprise value of…
Huddled Group reports 81% revenue surge, eyes first operating profit
LONDON: Huddled Group plc (AIM:HUD), a circular economy e-commerce company, reported an 81% year-over-year revenue increase to £9.48 million for the six months ending June 30, 2025, driven by strong performance across its brands Discount Dragon, Nutricircle, and Boop Beauty. The company also announced that Discount Dragon and Nutricircle achieved divisional operating profit in August,…
Australian miner Nimy Resources signs deal to supply gallium to U.S. market
PERTH: Nimy Resources Ltd. (ASX: NIM) has signed a non-binding memorandum of understanding with U.S.-based M2i Global Inc. for the potential sale of gallium from its Mons Project in Western Australia. The agreement, announced Monday, grants M2i exclusive rights to negotiate the purchase of 100% of the gallium-bearing concentrates from the project for delivery to…
EQTEC losses narrow as strategic pivot to licencing boosts margins
The net loss narrowed to €2.07 million from €3.2 million, while its EBITDA loss improved to €1.1 million from €1.6 million LONDON: EQTEC plc, a syngas technology company, reported a sharp drop in first-half revenue but highlighted a significant improvement in gross margins as it pivots away from high-risk project development towards a leaner, intellectual…