Sainsbury’s has announced that it will be winding down its banking division as part of its “food first” strategy and will be focusing on its core retail businesses. The company is exploring several options as part of a “phased withdrawal” from the banking business, which could result in products being outsourced to other providers, similar…
PUMA recognized as a global top employer for second time
The sports company PUMA has earned the prestigious title of a global Top Employer for the second time, according to the Top Employers Institute. The institute, which conducts a comprehensive survey of companies’ human resources practices, also awarded PUMA in four regions and 24 countries, including Poland and Ukraine for the first time. The award…
Accrol Group has acquired Seven Delta Limited
LONDON: Accrol Group (AIM: ACRL), the UK’s leading independent tissue converter, has completed the acquisition of Severn Delta Limited, a £5m revenue wet wipe and tumble dryer sheet manufacturer based in Somerset, for an EBITDA multiple of less than 3x before synergies. The acquisition was funded from the Group’s existing cash reserves. The acquisition of…
LiveRamp to buy data clean room provider Habu for $200M
LiveRamp, the leading data collaboration platform, announced today that it will acquire Habu, a software company that helps brands and media companies share customer data securely and effectively. The deal, worth about $200 million in cash and stock, will boost LiveRamp’s ability to offer data collaboration solutions across all clouds and platforms, while ensuring privacy…
Qantas Group appoints Andrew Glance as CEO for its Loyalty business unit
SYDNEY: The Qantas Group has appointed Andrew Glance as the new CEO for its Loyalty business unit. Andrew Glance is currently the Executive Manager of Commercial Partnerships and Qantas Business Rewards, having worked in a number of senior roles in Qantas Loyalty since 2016. Prior to that he held senior finance positions across the organisation,…
Vicarious, an AI-powered cybersecurity startup, raises $30M
Vicarious, a New York-based cybersecurity startup that uses AI to automate the discovery, prioritization and remediation of software vulnerabilities, announced today that it has raised $30 million in a Series B round of funding led by Bright Pixel Capital. The company, which has raised $56 million to date, plans to use the new capital to…
Telecom Egypt secures first 5G license in Egypt for $150mn
CAIRO: The National Telecommunications Regulatory Authority (NTRA) has granted Telecom Egypt the country’s first license to install and operate fifth generation (5G) networks for mobile phones at a cost of USD 150m. The 5G license will be valid for a 15-year period. Noting the importance of keeping up with world technology trends, Telecom Egypt took…
Dura Software acquires Invosys; QBS partners with Atera in channel deals
Two major deals have been announced in the channel, as US-based Dura Software has acquired UK cloud comms provider Invosys, and QBS Software has formed a strategic partnership with Atera, a remote monitoring and management vendor. Dura Software, which specialises in acquiring and operating niche software businesses, has added Invosys to its portfolio, marking its…
Health Assurance Transformation Corp signs deal to acquire Summa Health
Summa Health, a large integrated healthcare delivery system based in Akron, Ohio, has signed a letter of intent to be acquired by Health Assurance Transformation Corporation (HATCo), a new entity formed by General Catalyst, a venture capital firm. The deal aims to create a new, more proactive, affordable and equitable system of community-based, lifelong healthcare,…
Apple dethrones Samsung as the world’s top smartphone seller in 2023
For the first time in 12 years, Apple has surpassed Samsung as the world’s leading smartphone seller, according to a new report from International Data Corp (IDC). The iPhone maker captured a 20% market share in 2023, while Samsung slipped to 19.4%. The other three spots in the top five were occupied by Chinese brands…
Accenture acquires Impendi to boost its private equity offerings
Accenture, a global professional services company, has announced the acquisition of Impendi, a sourcing and procurement services provider that specializes in serving private equity clients. The deal will enhance Accenture’s ability to help private equity firms and their portfolio companies optimize their sourcing and procurement decisions, achieve cost savings, and improve supplier diversity. Impendi, founded…
McNally Capital sells Re-Sourcing Group to MidOcean Partners
McNally Capital, a private equity firm that invests in founder- and management-owned businesses, has announced the sale of its portfolio company, The Re-Sourcing Group, to MidOcean Partners. The Re-Sourcing Group is a leading provider of strategic staffing, consulting, and direct hire solutions for various industries, serving clients through seven premium brands. McNally Capital partnered with…