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…
DG Innovate teams up with commercial vehicle giant to develop eco-friendly systems
LONDON: DG Innovate, a company that develops eco-friendly solutions for electric mobility and energy storage, has partnered with a leading commercial vehicle components company to create systems for heavy goods vehicles using its Pareta® drive technology. The Pareta® system is a simple, light and affordable solution that can be used for both electric and hybrid…
RegTech Open Project signs agreement with a leading Italian Cooperative Banking Group
LONDON: RegTech Open Project plc (RTOP) announced a significant £0.2m agreement, representing more than 10% of the Company historical revenues, with a leading Italian cooperative banking group. The banking group, consisting of over 60 banks with more than 1,400 branches across Italy and total assets in excess of €90bn, has been a client of RegTech…
DORE acquires of five Swedish hydropower plants for £6.0m
LONDON: The Board of Downing Renewables & Infrastructure Trust plc (DORE) announced the acquisition of five hydropower plants located in Sweden with a combined expected annual average production of c. 9 GWh for a total investment of c. £6.0m (EUR 6.7m). The acquisitions were funded using Downing Hydro AB’s long-term debt facility and completed in…