Cambridge Savings Bank (CSB), a full-service mutual bank with nearly $7 billion in assets, has announced the hiring of Ryan Bailey as its new president and chief executive officer (CEO). Bailey will succeed Wayne Patenaude, who will retire in 2023 after 12 years of leading the bank. Bailey joins CSB from USAA, where he was…
GAN shareholders approve merger with SEGA SAMMY subsidiary
GAN Limited, a North American provider of internet gaming solutions and online sports betting, announced that its shareholders approved the merger with a subsidiary of SEGA SAMMY CREATION INC., an affiliate of SEGA SAMMY HOLDINGS INC., a Japanese entertainment conglomerate. The merger agreement was supported by over 95% of the votes cast at a special…
Guild Mortgage acquires Academy Mortgage
Guild Mortgage, a publicly traded mortgage lending company, has announced the acquisition of the retail lending assets of Academy Mortgage, a privately held Utah-based lender. The deal will add more than 1,000 employees and 200 branches to Guild’s network, as well as increase its annual origination volume by 25%. The combined company will be the…
Shoe Carnival buys Rogan Shoes for $45 million, expands footprint in Midwest
Shoe Carnival, Inc. (Nasdaq: SCVL), a leading family footwear retailer, announced today that it has acquired Rogan Shoes, Incorporated, a 53-year-old work and family footwear company with 28 stores in Wisconsin, Minnesota, and Illinois. The deal, valued at $45 million and funded entirely with cash, is expected to boost Shoe Carnival’s earnings and sales in…
CoStar Group buys Arlington office building, plans to relocate from D.C.
CoStar Group, a leading online real estate platform, has purchased a 552,000 square foot office building in Arlington, Virginia, for an undisclosed amount. The company plans to move its Washington, D.C. employees to the new location by 2025, taking advantage of nearly $7 million in tax and economic incentives. The company, which has over 6,200…
GeologicAI acquires Resource Modeling Solutions
GeologicAI, a leading innovator in mining technology, has announced the acquisition of Resource Modeling Solutions (RMS), a pioneer in advanced geostatistical modeling of subsurface deposits. This strategic move will enhance GeologicAI’s growth and innovation in the mining sector. RMS brings a wealth of cutting-edge technology and a team of talented professionals that align with GeologicAI’s…
OCI Global reports sharp drop in revenues and earnings, sells off fertilizer assets
AMSTERDAM: OCI Global, a leading producer and distributor of nitrogen fertilizers and industrial chemicals, announced its financial results for the fourth quarter and full year 2023, showing a significant decline in revenues and earnings due to lower global nitrogen prices. The company also revealed that it has sold its stakes in Fertiglobe and Iowa Fertilizer…
Capgemini beats financial targets in 2023 despite market slowdown
PARIS: Capgemini, a global leader in consulting, technology and outsourcing services, announced its 2023 financial results on Tuesday, showing a solid performance in a challenging economic environment. The Group reported revenues of €22.5 billion, up 2.4% year-on-year, and an operating margin of 13.3%, exceeding its target range. Net profit increased by 7% to €1.7 billion,…
Balanced Commercial Property Trust agrees to sell Leonardo Building in Crawley for £26.1 million
LONDON, UK: Balanced Commercial Property Trust (BCPT), as part of its stated strategy to reduce its exposure to the challenged UK offices sector and rebalance its portfolio, the company has exchanged contracts on the sale of the Leonardo Building in Crawley, a 110,000 sq. ft. out-of-town business park office. The sale has been exchanged unconditionally…
HEPCO acquires majority stake in Watermen, a leading lifeguard uniform supplier
HEPCO Capital Management, a family investment firm, has announced the acquisition of a majority stake in Original Watermen, a supplier of lifeguard uniforms for various organizations, including the U.S. military. Watermen was founded in 2005 by Jen and Ken Miller, former professional lifeguards, who will remain as shareholders and advisors. HEPCO is partnering with Daniel…
Citi invests in fintech startup Exponential Markets to boost risk mitigation tools
Citi has invested in Exponential Markets, a fintech startup that is developing tradable financial instruments for new and underserved markets, such as the automotive sector. Exponential Markets, formerly branded Exponential Exchange, announced a strategic investment from Citi through its Markets Strategic Investments unit. The investment was part of Exponential’s seed round, which raised over $10…
Miami Beef acquires Hofmann Sausage, expands its product range
Miami Beef, a leading provider of fresh and frozen meat products, announced on Tuesday that it has acquired Hofmann Sausage, a historic sausage and hot dog brand based in Syracuse, New York. Hofmann Sausage, founded in 1879, is the top-selling sausage and hot dog brand in the Central New York area. Its products include beef…