PRAGUE: The Czechoslovak Group (CSG) has entered into a definitive agreement to acquire Vista Outdoor Inc.’s Sporting Products business for a total consideration of $1.91 billion. CSG will partner with the existing management to pursue the continued growth path envisaged for the Sporting Products business over the coming years. Headquartered in Anoka, Minnesota, Vista Outdoor’s…
Wendel enters talks to acquire 51% in IK Partners for 383 million euros
PARIS, FRANCE: Wendel has entered into exclusive negotiations with a view to acquiring a controlling stake in IK Partners from its partners who would also reinvest a portion of their proceeds in future IK funds as part of the envisaged transaction. IK Partners is a leading European private equity (PE) firm specializing in European mid-market…
Serco wins £350m contract to deliver disability assessments in south-west England
LONDON: Serco, a global provider of public services, has been awarded a five-year contract by the Department for Work and Pensions (DWP) to deliver functional health assessments for disability benefits and support in the south-west of England. The contract, which starts in September 2024, is expected to be worth around £350m, depending on workload volumes….
Poolbeg Pharma partners with a Nasdaq-Listed biopharma company
LONDON, UK: Poolbeg Pharma, a clinical-stage biopharmaceutical company targeting diseases with a high unmet medical need, has signed a strategic collaboration agreement with a Nasdaq listed biopharma company for the development of an optimised oral drug to treat a metabolic condition. Under the agreement, the Company will receive funding to work with its new partner…
Rolls-Royce to create simpler, more efficient and effective organisation
LONDON, UK: Rolls-Royce has today announced plans for a simpler, more streamlined, organisation in the next phase of its multi-year transformation. The new structure will create a more agile business that is better able to serve customers and continue to create and maintain world-class products. It will help Rolls-Royce build enhanced capabilities in key areas…
Gresham Technologies appoints Richard Last as independent non-executive Chair
LONDON, UK: Gresham Technologies has appointed Richard Last as independent non-executive Chair, effective immediately. Richard’s appointment follows a thorough and comprehensive process undertaken by the Nomination Committee, led by Andy Balchin, Senior Independent Non-Executive Director. Richard Last brings a wealth of public company experience to the Board and is currently Chair of Tribal Group Plc,…
Frasers Group to acquire German sports retailers, SportScheck
LONDON, UK: Frasers Group plc has entered into a binding agreement with Signa Retail Department Store Holding GmbH to acquire SportScheck, one of the leading sports retailers in Germany. The acquisition will enable Frasers to grow its presence in Germany, one of the biggest sports markets in Europe and a key focus area for the…
GUD Holdings agrees to acquire Rindab AB
SYDNEY, AUSTRALIA: GUD Holdings has entered into an agreement to acquire Rindab AB (RVX) and its subsidiary Vision X Europe AB from the company’s Swedish owners. The RVX leadership team is to remain in place and the acquired business is to become part of the BWI group. RVX will complement BWI’s business with established sales…
How Samsung is bringing Micro LED screens to smartwatches and signage displays
Samsung, the leader in OLED displays for various devices, is now developing a new display technology: Micro LED. The company has already launched Micro LED TVs that combine the advantages of OLEDs and LCDs. Now, Samsung is looking to use Micro LED panels for smartwatches and signage displays as well. Samsung Electronics announced today that…
LinkedIn to lay off 668 employees amid slowing revenue growth
LinkedIn, the social media network for professionals owned by Microsoft, announced on Monday that it will be laying off 668 employees. This is the second round of job cuts for LinkedIn this year, and it comes amid slowing revenue growth for the company. The cuts will affect more than 3% of LinkedIn’s 20,000-strong workforce and…
Unlocking the Power: What to Expect from Apple’s M3 MacBook Pro
Apple enthusiasts, brace yourselves! A recent report suggests that the tech giant is gearing up to unveil its latest marvel: the M3 MacBook Pro. While we’ve grown accustomed to Apple’s annual MacBook Pro launches, this one promises to be a game-changer. The M2 Legacy Let’s rewind to 2022 when Apple introduced the world to the…
WeWork names former Blackstone executive David Tolley permanent CEO
WeWork on Monday named interim CEO David Tolley as its permanent CEO, tasking the former Blackstone executive with turning around the flexible workspace provider’s ailing business. Tolley, who was CFO of satellite operator Intelsat from 2019 to 2022, has been a WeWork board member since February 2023 and was interim CEO since May 2023. WeWork,…