LONDON: Babcock International and the UK’s Submarine Delivery Agency (SDA) have agreed a full cost recovery contract worth an estimated £560 million to undertake the planned deep maintenance and life extension programme for HMS Victorious, one of the UK’s Vanguard Class nuclear submarines. The multi-year life extension programme will deliver HMS Victorious back to the…
Mortgage Chat partners with Accru to develop AI-powered mortgage app
LONDON: Mortgage Chat (AQSE: MCAI), a technology company developing AI products for the mortgage sector, has signed a software development agreement with Accru Finance Ltd, a company controlled by one of its directors. According to the agreement, Accru will design and develop a web-based application that can answer mortgage-related queries and a responsive website for…
Silverwood Brands to acquire Cosme Science Corporation and Dr. Baeltz Corporation
LONDON, UK: Silverwood Brands plc has agreed to acquire Cosme Science Corporation, a premier Japanese manufacturer of beauty products, and its 100% subsidiary, Dr. Baeltz, a pioneering skincare and self-care brand, from its parent company Hokkan Holdings Corporation. The acquisition is to be conducted through Silverwood’s Japanese subsidiary, Sonotas Corporation, with a projected closing date…
Luceco plc has acquired D-Line Europe for £12.4 million
LONDON, UK: Luceco plc, the supplier of wiring accessories, EV chargers, LED lighting, and portable power products, has acquired the entire issued share capital of D-Line (Europe) Limited, the supplier of cable management solutions, from sellers including the founder for initial cash consideration of £8.6m and up to £3.8m of contingent consideration, on a cash…
ITV Sells its 50% Share of BritBox International to BBC Studios for £255 million
LONDON, UK: ITV plc has announced that it has sold its entire 50% interest in digital subscription streaming service BritBox International to its joint venture partner BBC Studios for a cash consideration of £255 million. The transaction will provide net proceeds including loan repayments and accrued dividends and after tax of around £235 million. The…
ParagonCare and CH2 announce merger to create healthcare distribution giant
SYDNEY, AUSTRALIA: ParagonCare, a leading provider of healthcare equipment and services, has agreed to merge with CH2, a national distributor of pharmaceuticals and medical products, in a deal worth $201.5 million. The merger will create a diversified and complementary healthcare distribution and wholesaling group, with combined revenues of $3.3 billion and EBITDA of $93 million…
Acrow acquires Benchmark Scaffolding for $9 million, boosts FY24 guidance
SYDNEY, AUSTRALIA: Acrow Limited (ASX: ACF), a leading provider of scaffolding and formwork solutions, has announced the successful acquisition of Benchmark Scaffolding, a North Queensland-based company specialising in industrial, mining, and infrastructure projects. The acquisition, effective 1 March 2024, is valued at $9 million, comprising of cash, equity, and deferred payments. There is also potential…
Oshkosh Corporation invests in Eatron Technologies
Oshkosh Corporation, a leading maker of purpose-built vehicles and equipment, has announced its investment in Eatron Technologies, a developer of intelligent software for batteries. The investment supports Oshkosh’s vision to use advanced analytics and predictive modeling for its electric vehicles. Eatron’s software adds a smart layer on top of existing battery control platforms, enabling accurate…
CMA CGM acquires Bolloré Logistics for 4.85 billion euros
PARIS: CMA CGM, a global leader in maritime transport, announced today that it has completed the purchase of Bolloré Logistics, a leading transport and logistics company in France and worldwide. The deal, worth 4.85 billion euros, is based on the estimated debt and cash on the closing date. It also includes the transfer of Bolloré…
Summit Partners invests in Insurcomm, a leading restoration services provider
Insurcomm, a provider of commercial and residential restoration services, has received a majority growth investment from Summit Partners, a global alternative investment firm. The investment will help Insurcomm expand its operations and acquire other providers who share its mission of delivering high-quality service to clients facing property loss events. Insurcomm offers a range of property…
EasyKnock raises $28M to expand home equity solutions platform
EasyKnock, the first home equity solutions platform in the U.S., announced a $28 million Series D funding round led by Northwestern Mutual Future Ventures, the venture capital arm of Northwestern Mutual. The round also included new and existing investors. The company will use the new capital to enhance its platform, which offers consumers alternative ways…
T-Mobile Brings 5G Home Internet to Puerto Rico
T-Mobile (NASDAQ: TMUS) has launched its 5G Home Internet service in Puerto Rico, offering customers a new option for fast, reliable and affordable broadband. The service uses the Un-carrier’s 5G network, which is the largest and fastest in the island, and costs $50 a month with AutoPay and a voice line. Customers who sign up…