HELSINKI — Nokia announced Tuesday that chipmaker Nvidia is acquiring a $1 billion stake in the Finnish networking company, a move that sent Nokia’s shares soaring and marks the latest in a series of strategic partnerships for the artificial intelligence giant. Under the deal, Nokia will issue more than 166 million new shares to Nvidia….
Celanese divests Micromax business to Element Solutions for $500 million
DALLAS – Celanese Corporation (NYSE: CE), a global specialty materials and chemical company, has signed a definitive agreement to divest the Micromax portfolio of products to Element Solutions Inc (NYSE: ESI). Under the terms of the agreement, Celanese will receive approximately $500 million in cash, subject to adjustments. “The agreement to divest Micromax benefits Celanese…
B.P. Marsh to sell Stewart Specialty Risk stake to Ryan Specialty for up to $62 million
LONDON: British venture capital firm B.P. Marsh & Partners Plc (BPM.L) said on Tuesday it has agreed to sell its entire 28.2% stake in Canadian insurer Stewart Specialty Risk Underwriting Ltd. (SSRU) to Ryan Specialty Holdings Inc (RYAN.N) for a cash consideration that could reach up to 62 million Canadian dollars (£33.2 million). The initial…
US investor Long Path offers to takeover Idox Plc for £340 million
LONDON: British software firm Idox plc said on Tuesday it had agreed to a recommended cash acquisition by Frankel UK Bidco Limited, a vehicle indirectly owned by U.S. investment manager Long Path, valuing the company at approximately £339.5 million ($[Insert approximate USD equivalent]). Under the terms of the deal, Idox shareholders will receive 71.5 pence in…
Taiheiyo cement’s U.S. subsidiary to acquire California business of Vulcan Materials
LOS ANGELES: CalPortland Company, a major U.S. subsidiary of Japan’s Taiheiyo Cement Corporation, announced Monday it has reached an agreement to acquire the California ready-mixed concrete business assets of Vulcan Materials Company. The deal, pending regulatory approval and other standard closing conditions, is expected to be finalized by December 2025, according to a statement from…
Banijay Group to acquire majority stake in Tipico to create gaming giant
PARIS: Entertainment conglomerate Banijay Group announced Monday it has signed a binding agreement to acquire a majority stake in Tipico Group and combine it with its existing Betclic business, a move that will create a European leader in sports betting and online gaming. The deal, which values Betclic at €4.8 billion and Tipico at €4.6 billion,…
Experian acquires KYC360 to strengthen financial crime compliance in UK and Ireland
LONDON: Experian, the global data and technology company, announced Tuesday it has acquired KYC360, a regulatory technology firm specializing in anti-financial crime solutions, in a move aimed at enhancing its fraud prevention and compliance capabilities across the UK and Ireland. The acquisition will integrate KYC360’s Customer Lifecycle Management (CLM) suite into Experian’s Ascend platform, enabling…
LegitScript acquires Kompliant to streamline compliance for payments industry
PORTLAND: LegitScript, a leader in merchant and product certification and monitoring, announced Tuesday the acquisition of Kompliant, a compliance orchestration platform for banks and financial services providers. The strategic acquisition combines LegitScript’s risk intelligence, which uses artificial intelligence and market data, with Kompliant’s automated compliance software. The move aims to address inefficiencies in how payments…
VSE Corporation to acquire MRO provider Aero 3 for $350 million
MIAMI – VSE Corporation (NASDAQ: VSEC), a leading provider of aviation aftermarket services, announced Monday it has signed a definitive agreement to acquire Aero 3, a global maintenance, repair and overhaul (MRO) provider for aircraft wheels and brakes, for $350 million in cash. The acquisition of Aero 3, a portfolio company of GenNx360 Capital Partners, significantly…
Taylor Corp. acquires print on demand firm Gooten Inc.
NORTH MANKATO — Taylor Corporation, a global print and communications company, announced Thursday it has acquired Gooten, Inc., a technology and fulfillment provider specializing in the print on demand market. The acquisition will combine Gooten’s OrderMesh technology platform and fulfillment network with Taylor’s national manufacturing footprint and global development expertise. Financial terms of the deal…
Flight Centre sells Asia-based hotel business Cross to South Korea’s Sono International
BRISBANE – Australia’s Flight Centre Travel Group Ltd (FLT.AX) said on Wednesday it has sold its Asia-based hotel management business, Cross Hotels and Resorts, to South Korea’s Sono International Co. Ltd. The divested business, which includes Cross Hotels and Resorts and PT Bespoke Hospitality Management Indonesia, manages a portfolio of 17 hotels across Thailand and Indonesia,…
EQT makes $45 per share takeover offer for Australia’s AUB Group
SYDNEY – Australian insurance intermediary AUB Group Ltd said on Wednesday it has received an unsolicited, non-binding proposal from private equity firm EQT to acquire the entire company for A$45.00 per share in cash. The indicative offer from EQT’s affiliated entity, Arbutus Pte. Ltd, values the ASX-200 listed company at a significant premium and follows…