SAN FRANCISCO: CloudKeeper, a top cloud cost optimization and FinOps firm, reported $200 million in annualized revenue and $20 million in EBITDA for the last fiscal year, marking 50% year-over-year growth. The milestone solidifies its position as one of the fastest-growing companies in the global cloud cost management sector. The company’s growth was driven by aggressive customer acquisition and expansion into North America, where…
Fox Corp acquires Mexico’s Caliente TV
NEW YORK: Fox Corp. said Thursday it has acquired Caliente TV, a Mexican sports broadcasting platform, in a move aimed at strengthening its sports content and expanding its streaming footprint in Latin America. Financial terms of the deal were not disclosed. The acquisition is part of Fox’s broader push into sports streaming, as the company…
Worthington Enterprises acquires Elgen Manufacturing for $93 million
COLUMBUS: Worthington Enterprises (NYSE: WOR) announced Wednesday it has acquired Elgen Manufacturing, a New Jersey-based producer of HVAC components, for approximately $93 million in cash. Elgen, headquartered in Closter, specializes in steel-based ductwork, framing and HVAC parts used in commercial buildings across North America. The company will join Worthington’s Building Products segment, broadening its offerings…
ArcelorMittal acquires Nippon Steel’s stake in Calvert Steel facility, deepens U.S. investment
CALVERT: ArcelorMittal announced Thursday it has completed the acquisition of Nippon Steel Corporation’s 50% stake in AM/NS Calvert, gaining full control of the Alabama-based steelmaking facility. The deal, finalized under the terms of an Equity Purchase Agreement signed in October 2024, rebrands the site as ArcelorMittal Calvert. The facility, originally built by ThyssenKrupp at a…
QXO proposes $5 billion all-cash acquisition of GMS Inc. at 27% premium
NEW YORK: QXO, Inc. (NYSE: QXO) announced Thursday it has submitted a proposal to acquire all outstanding shares of GMS Inc. (NYSE: GMS) in an all-cash transaction valued at approximately $5 billion, offering $95.20 per share — a 27% premium over GMS’s 60-day volume-weighted average price. Brad Jacobs, QXO’s chairman and chief executive, said the…
Co-op secures £350 million sustainability-linked funding deal with major banks
MANCHESTER: The Co-operative Group Limited (Co-op) has secured a new £350 million ($445 million) five-year lending agreement tied to ambitious sustainability and social impact targets, bolstering its financial position and reinforcing its commitment to ethical business practices. The deal, announced Thursday, involves six major banking partners: HSBC, Barclays, ING, Lloyds, NatWest and Dutch co-operative bank…
Fidelity European Trust and Henderson European Trust agree to £2.1 billion combination
LONDON: Fidelity European Trust PLC (FEV) and Henderson European Trust PLC (HET) announced Thursday they have agreed to combine in a deal that will create the U.K.’s largest closed-ended investment vehicle focused on Europe, with anticipated net assets exceeding £2.1 billion ($2.7 billion). The proposed merger, structured under a scheme of reconstruction under the Insolvency…
Buss Family agrees to sell majority stake in Los Angeles Lakers for $10 billion
LOS ANGELES: The Buss family has agreed to sell a majority stake in the Los Angeles Lakers to businessman Mark Walter in a deal that values the storied NBA franchise at $10 billion. The sale would set a new record for an NBA team valuation. The Lakers play at Crypto.com Arena, which is owned by…
Genesis, energy firms reach deal on Huntly Power Station’s role in national security
AUCKLAND: Genesis Energy and three other major electricity providers have signed a detailed non-binding term sheet to establish a strategic energy reserve centered on Huntly Power Station, aiming to bolster New Zealand’s security of supply. The agreement—between Genesis (NZX: GNE, ASX: GNE), Mercury, Meridian, and Contact—follows challenges during the winter of 2024, when energy supplies…
U.S. stocks edge higher as Fed holds rates steady; Middle East tensions simmer
Dow Jones, S&P 500, and Nasdaq Post Gains as Fed Holds Rates; Middle East Tensions Linger NEW YORK: Major U.S. stock indices posted modest gains Wednesday as investors digested the Federal Reserve’s decision to hold interest rates steady while monitoring escalating tensions in the Middle East. The Dow Jones Industrial Average rose 0.34%, or 132 points, to close at 42,338.95,…
Fed holds rates steady, signals fewer cuts ahead amid inflation concerns
The Federal Reserve (Fed) held interest rates steady Wednesday, maintaining its target range of 4.25%-4.5% amid concerns over inflation and slowing economic growth. Despite expectations for two rate cuts later in 2025, officials scaled back their projections for reductions in 2026 and 2027, citing uncertainty in their economic outlook. The central bank’s “dot plot” indicated…
Inventis sells electronic circuit design division to ANT Software for A$2.4 million
SYDNEY: Inventis Limited (ASX: IVT) has signed a binding agreement to sell its Electronic Circuit Designs (ECD) business and assets to ANT Software in a transaction valued at A$2.4 million, the company announced Wednesday. The sale is part of Inventis’ broader restructuring strategy aimed at improving financial flexibility and positioning the company for future growth….