Westinghouse Electric Company, a global leader in nuclear and clean power technologies, has named Lou Martinez Sancho as its new Chief Technology Officer and Executive Vice President of R&D and Innovation. Martinez Sancho will oversee the company’s research and development portfolio and drive its innovation agenda. Martinez Sancho has more than 20 years of experience…
American Business Bank reports second best year of net income in 25 years
American Business Bank (OTCQX: AMBZ) announced its financial results for the fourth quarter and the full year of 2023. The bank reported a net income of $11.4 million or $1.23 per share for the fourth quarter, an increase of 11% from the previous quarter and a decrease of 19% from the same quarter last year….
GFT Technologies SE acquires Sophos Solutions from Advent
GFT Technologies SE (GFT), a global leader in digital transformation, announced that it has agreed to buy 100% of shares in Sophos Solutions S.A.S., a Colombian company specialized in core banking, AI and cloud modernization. The deal, which is expected to close in early February 2024, will boost GFT’s growth and profitability, as well as…
Philips reports strong sales and profit growth in 2023
AMSTERDAM: Philips, a global leader in health technology, announced its 2023 financial results, showing a 7% increase in comparable sales and a 10.5% increase in adjusted EBITA margin. The company also generated a free cash flow of EUR 1,582 million, up from EUR 1,018 million in 2022. The company attributed its strong performance to the…
Amazon and iRobot call off $2.5 billion deal amid regulatory hurdles
Amazon and iRobot, two leading companies in the consumer robotics market, have mutually agreed to cancel their planned merger, which was announced in August 2022. The deal, valued at $2.5 billion, would have given Amazon access to iRobot’s popular products, such as the Roomba vacuum cleaner and the Braava mop, and enabled iRobot to benefit…
Dynatrace acquires Runecast to boost cloud security and compliance
Dynatrace, the leader in unified observability and security, has announced its agreement to acquire Runecast, an AI-powered security and compliance solution provider. The deal will enhance Dynatrace’s platform with Runecast’s security posture management, enabling customers to proactively address security and compliance risks in hybrid and multicloud environments. Customers will also be able to perform threat…
Juniper Networks Launches Industry’s First AI-Native Networking Platform
Juniper Networks, a leader in secure, AI-Native Networking, has launched the industry’s first AI-Native Networking Platform, which uses artificial intelligence (AI) to ensure the best end-to-end experiences for operators and users. The platform integrates all networking solutions with a common AI engine and a virtual network assistant, enabling end-to-end AI for IT operations (AIOps). This…
Redwire to launch first space-based semiconductor manufacturing platform
Redwire Corporation, a leader in space infrastructure, announced the launch of its first pathfinder mission for its autonomous semiconductor manufacturing platform, MSTIC, to the International Space Station (ISS). MSTIC aims to produce advanced semiconductors in microgravity, which could offer superior performance and quality than those made on Earth. The platform was developed in collaboration with…
SoFi Invest opens up alternative investments to everyday investors
SoFi, the digital personal finance company, has launched a new feature that allows its members to invest in alternative assets, such as private credit, real estate and pre-IPO companies. These assets are usually reserved for the ultra wealthy, but SoFi is making them accessible to anyone with a low minimum investment and no transaction fees…
Grit Real Estate sells assets to its subsidiary GREA for US$100 million
LONDON, UK: Grit Real Estate Income Group Limited, a leading pan-African real estate company, announced today that it has sold its interests in Bora Africa and a diplomatic housing asset in Mozambique to its development subsidiary, Gateway Real Estate Africa (GREA). The deal, which is subject to shareholder approval, will raise US$100 million for Grit,…
Flutter Entertainment commences trading on the NYSE
LONDON: Flutter Entertainment, the global sports betting and gaming group, announced today that it has listed its ordinary shares on the New York Stock Exchange (NYSE) under the ticker symbol “FLUT”. The company also cancelled its secondary listing on Euronext Dublin, but retained its premium listing on the London Stock Exchange (LSE) under the ticker…
Dubai Investments acquires 34.3% stake in Global Fertility Partners
DUBAI, UAE: Dubai Investments, the leading investment company listed on the Dubai Financial Market (DFM), has announced its acquisition of a 34.3% equity stake in Global Fertility Partners (GFP), a leading network of fertility and reproductive genetics centers across the Middle East. GFP has secured approximately $60 million in equity financing from prominent institutional investors…