LONDON, UK: Ithaca Energy (LON: ITH) announced that the Group has agreed, subject to regulatory approval, to acquire the remaining 30% stake in Cambo from Shell U.K. Limited (“Shell”) taking Ithaca Energy’s stake in Cambo to 100%. The acquisition, which has minimal near-term cost exposure, will provide Ithaca Energy with full control over the progression…
FRP Advisory Group acquires Wilson Field Group for £4.8 million
LONDON, UK: FRP Advisory Group plc, a leading national specialist business advisory firm, announced the acquisition of Wilson Field Group for a consideration of £4.8 million. This comprises cash of £3.1 million and the issue of new ordinary shares with a value of £1.7 million, plus a subsequent payment for the net assets acquired on…
Andrew Kitchingman appointed Chairman of HC Slingsby Plc
LONDON, UK: HC Slingsby PLC, one of the market leaders in the distribution of industrial and commercial equipment, announced the appointment of Andrew Kitchingman as Independent Non-Executive Chairman with immediate effect. Dominic Slingsby will continue his role on the Board of Operations Director. Andrew is Chairman of Mpac Group plc, a non-executive Director of Andrews…
Swallow raises $1M in pre-seed funding to simplify pricing management for businesses
Swallow, a platform that enables businesses to easily manage and update their pricing models, secured $1 million in pre-seed funding from two leading SaaS investors. The funding round was jointly led by Connect Ventures and Jigsaw VC, both based in the UK. Connect Ventures is a venture capital firm that focuses on pre-seed and seed-stage…
Kale Logistics Solutions secures $30 million in a Series B round
A vertical SaaS platform that helps with logistics needs, Kale Logistics Solutions, has secured $30 million in a Series B round. The round was spearheaded by Creaegis Advisors, a Bangalore-based investor in private equity and venture capital. Creaegis Advisors was established in 2018. Kale Logistics Solutions plans to use the funds to grow its presence…
Automobile sales roar back to life in August 2023, surging 49%
KARACHI: Pakistan’s automobile industry experienced a significant surge in sales during the month of August 2023, with a staggering 7.6K units sold. This surge, representing a 49% month-on-month (MoM) increase, has sent ripples of optimism throughout the industry. However, it’s important to note that this impressive rebound comes in the wake of a 36% year-on-year…
KKR invests another $250 million in Reliance Retail
Reliance Retail, India’s largest retailer owned by billionaire Mukesh Ambani, has received another $250 million investment from KKR, a global private equity firm. This boosts KKR’s stake in the company to 1.42% from 1.17%, valuing Reliance Retail at $100 billion. The deal is part of Reliance Retail’s ongoing fundraising efforts, which have attracted several foreign…
Salesforce Unveils Bi-Directional Data Integration with Databricks and Snowflake, Revolutionizing Data Management
Salesforce has initiated Dreamforce with significant partner announcements, unveiling plans for bi-directional data sharing with Databricks and Snowflake. Salesforce, led by Marc Benioff, is expanding its Salesforce Data Cloud to enable real-time data integration with Databricks’ data lakehouse platform. This move will empower joint customers to enhance datasets and develop more advanced models to tackle…
DetraPel, secured $7.6M in a Series A round of funding
A Boston-based company that makes eco-friendly coatings, DetraPel, secured $7.6M in a Series A round of funding. The lead investor was Material Impact, joined by others such as INX International, Touchdown Ventures, and FitzGate Ventures. Adam Sharkawy, a Co-Founder and Managing Partner of Material Impact, will join the Board of Directors of DetraPel in July…
Apple extends deal with Qualcomm for 5G modems until 2026
Apple has announced that it will continue to buy 5G modems from Qualcomm for its smartphones and other products until 2026, despite its efforts to develop its own modems. The news comes a day before Apple’s “Wonderlust” event, where the iPhone 15 is expected to be unveiled. Qualcomm, the leading supplier of 5G modems, has…
J.M. Smucker snaps up Hostess Brands for $5.6 billion
The maker of Jif peanut butter, J.M. Smucker, announced on Monday that it will acquire Hostess Brands, the company behind Twinkies and other popular snacks, for $5.6 billion. The deal comes as major U.S. food companies are looking to diversify their brands amid declining sales during the pandemic. According to Reuters, J.M. Smucker was close…
Glasgow University launches centre for data science and AI research
The University of Glasgow has announced the opening of a new centre that will support its research in data science and artificial intelligence (AI). The Centre for Data Science will bring together hundreds of academics from different disciplines to tackle challenges such as climate change and inequality. The centre will have six research programmes, covering…