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…
Nukkleus to boost stake in Bitcoin ETF sponsor Jacobi
Fintech giant Nukkleus Inc. announced today that it plans to increase its stake in Jacobi Asset Management, the sponsor of Europe’s only Bitcoin spot ETF, to about 20%. The move is part of Nukkleus’ strategy to expand its presence in the innovative financial markets, leveraging its expertise in blockchain and digital asset management. Nukkleus has…
U.K. Business Leaders Optimistic but Cautious amid Economic Challenges
A new survey by J.P. Morgan reveals that U.K. business leaders are confident about their own performance but wary of the global and national economic outlook. While most executives expect revenue and sales to increase in 2024, they also face rising interest rates, inflation, and uncertainty. The survey also shows that the proportion of business…
Nokia to invest €360 million in chip design for 6G and AI
ESPOO, FINLAND: Nokia announced today that it will invest €360 million in software, hardware and chip design at its Ulm and Nuremberg sites in Germany. The investment is part of a four-year project funded by the German government and the states of Baden-Württemberg and Bavaria. The project aims to develop high-performance systems-on-chips based on a…
Houthi attacks disrupt global trade, boost air freight rates
The ongoing Houthi attacks on shipping vessels in the Red Sea have caused a major disruption in global trade, forcing many container ships to take longer routes and driving up ocean freight rates. This has also increased the demand for air freight, as some retailers look for faster alternatives to deliver their goods. According to…
WealthArc and ZeroLink launch AI-powered chat service for wealth data
WealthArc, a Swiss-based provider of wealth data management solutions, has teamed up with ZeroLink, a leader in neurosymbolic knowledge graph technology, to create WealthArc AI & Analytics, a new service that allows users to chat with their wealth data using natural language. The service, powered by ZeroLink’s machine learning platform, enables wealth managers, family offices,…