KARACHI: In a bid to strengthen the microfinance sector in Pakistan and promote financial inclusion, U Microfinance Bank (U Bank) and Bank Alfalah Limited have entered into a strategic partnership to collaborate on a short-term financing facility of PKR 10 billion. The facility will enable U Bank to expand its outreach and offer a range…
TrustedReviews rebrands as CANDR Media Group following acquisition of Wareable Media
LONDON: TrustedReviews Limited, a media company that has been providing authoritative and unbiased tech reviews and content for over a decade, has announced a major change in its corporate identity. The company is now called CANDR Media Group, a name that reflects its core values of candour, openness, and honesty. The rebranding comes after the…
Farfetch sold to Coupang
Farfetch, the online luxury retailer, has been acquired by Coupang, the South Korean e-commerce giant, in a deal that will provide Farfetch with $500 million in urgent financing. The deal will also end Farfetch’s partnership with Richemont, the Swiss luxury group, and its plans to buy a stake in Yoox-Net-A-Porter, a rival online platform. Farfetch…
Jubilant Foodworks raises offer for DP Eurasia to £139.3m
LONDON, UK: Jubilant Foodworks, the owner of Domino’s Pizza franchises in India and other countries, has increased its cash offer for DP Eurasia, the operator of Domino’s Pizza outlets in Turkey and Russia, from 85 pence to 95 pence per share. The revised offer values DP Eurasia at £139.3m and represents a premium of 38.7…
Virtualware celebrates 20 years of VR innovation and unveils new strategic plan
PARIS, FRANCE: Virtualware, a leading company in virtual reality solutions, marked its 20th anniversary yesterday with an open letter from its CEO, Unai Extremo, announcing a new strategic plan for 2024-2026. The plan outlines the company’s vision to continue innovating and expanding in the global market of virtual and augmented reality. “Today, as we celebrate…
Alternative Income REIT buys Virgin Active club in Streatham for £5.1m
LONDON, UK: Alternative Income REIT PLC (AIRE), a UK commercial property investor, has acquired a Virgin Active leisure club in Streatham, South-West London, for £5.1 million. The deal reflects a high yield of 9.8% and a discount to replacement cost. The company said the purchase redeploys most of the proceeds from the sale of the…
Focusrite plc has acquired Sheriff Technology Limited, trading as OutBoard
LONDON, UK: Focusrite plc (AIM: TUNE), the global music and audio products group supplying hardware and software used by professional and amateur musicians and the entertainment industry, announced the acquisition of Sheriff Technology Limited, trading as OutBoard. The initial cash consideration of £2.37 million will be funded from internal cash resources and existing facilities. There…
Motorola Solutions acquires IPVideo, producer of the HALO Smart Sensor
Motorola Solutions (NYSE: MSI) has announced the acquisition of IPVideo, a New York-based company that produces the HALO Smart Sensor, a device that can detect various health and safety hazards in real time. The sensor can be used in places where cameras are not appropriate, such as restrooms and hotel rooms, to enhance security and…
Hyperdrive Agile Leadership acquires Scaled OKRs
Hyperdrive Agile Leadership, a leader in agile management solutions, has acquired Scaled OKRs, a premier company in objective and key results (OKR) frameworks, on December 1, 2023. This acquisition marks a new era in the integration of agile methodologies with strategic objective setting, providing clients with a powerful framework to achieve ambitious goals and adapt…
ADM to acquire Revela Foods, a dairy flavor innovator
ADM, a global leader in nutrition, announced today that it has agreed to acquire Revela Foods, a Wisconsin-based company that develops and produces dairy flavor ingredients and solutions. The deal would enhance ADM’s flavors portfolio in the dairy and savory segments, which are worth $1.8 billion and $3.2 billion respectively. Revela Foods, which has been…
Rebellion Defense appoints Ben FitzGerald as new CEO
Rebellion Defense, a leading software company for defense missions, has announced that Ben FitzGerald will become its new CEO from 1 January 2024. FitzGerald, who has been the Executive Chair since May 2023 and an early investor since 2019, will replace Barry Sowerine, who will join the Board of Directors. FitzGerald was chosen after a…
Monash IVF Group acquires Fertility North Holdings for $12m
SYDNEY, AUSTRALIA: Monash IVF Group, a leading provider of assisted reproductive services, has announced the acquisition of 80% of Fertility North Holdings, a Perth-based fertility clinic, for an estimated $12m. The deal will add eight fertility specialists to Monash IVF’s team and increase its net profit by 4%. Monash IVF may buy the remaining 20%…