LONDON: CloudCoCo, a leading UK provider of managed IT services and communications solutions, has entered into a Share Purchase Agreement to sell the entire issued share capital of CloudCoCo Limited to Aspire Technology Solutions Ltd, for gross cash consideration of up to c.£9.2 million. CloudCoCo Limited is the Group’s IT managed services business. Proceeds from…
KMD Brands announces Rip Curl brand CEO resignation
WELLINGTON: KMD Brands Limited announced that Brooke Farris has given notice of her resignation as Rip Curl brand CEO. KMD Brands Group CEO Michael Daly said, “Brooke has been dedicated to the success of Rip Curl for 14 years. As CEO, she has achieved record sales and grown the women’s business significantly. Brooke leaves Rip…
Techbio company Antiverse raises another £3.5 million seed funding
CARDIFF: Antiverse, a techbio company designing antibodies for challenging targets, today announced it has added £3.5M ($4.6M) to its seed funding. The investment will facilitate the Company’s growth, including appointments to strengthen the team and continued development of its antibody design programmes, many in partnership with pharmaceutical companies. The latest investment round was led by…
InPost has acquired remaining 70% stake in Menzies for £60.4 million
AMSTERDAM: InPost Group has acquired the remaining 70% stake in Menzies Distribution Limited in an all-cash transaction valued at £60.4 million. The transaction concerns Express and Newstrade segments. The third segment, MDS, responsible mainly for full load transport and warehousing was demerged from Menzies and is not the part of the transaction. It will continue…
Masdar partners with Presight to develop an advanced asset management tool
ABU DHABI: Masdar, the UAE’s leading clean energy company, has entered into a strategic partnership with Presight, a top-tier big data analytics firm powered by generative artificial intelligence (AI). This collaboration aims to develop an advanced asset management tool for Masdar’s global renewable energy projects. Masdar’s renewable energy installations, including solar panels, inverters, and wind…
Agronomics announces new funding for Liberation Labs
LONDON: Agronomics (LSE: ANIC), a leading company in cellular agriculture, has reported that its portfolio company Liberation Labs Holdings Inc. has raised an additional US$ 3.5 million through a Secured Promissory Note. Agronomics contributed US$ 2.0 million from its own cash reserves. The Note carries an annual interest rate of 10% and will mature on…
De La Rue to sell Authentication Division to Crane NXT for £300 million
LONDON: De La Rue Holdings has entered into a definitive agreement for the sale of the group’s Authentication Division to Crane NXT for a cash consideration representing an enterprise value of £300 million. De La Rue’s Authentication division provides physical and digital security solutions for governments and businesses to protect their citizens, revenues, and reputations….
Nanoveu Limited agrees to acquire Embedded A.I. Systems (EMASS) for A$5 milion
SYDNEY: Nanoveu Limited (ASX: NVU) has reached an agreement to acquire 100% of the fully paid ordinary shares in Embedded A.I. Systems Pte. Ltd (EMASS), which holds a proprietary, semiconductor system on a Chip (SoC) business and intellectual property (IP) portfolio. This acquisition is a key milestone in Nanoveu’s strategic growth, enabling the integration of…
Augmentum Fintech appoints William Reeve as Chairman of the Board
LONDON: The Board of Augmentum Fintech plc, Europe’s leading publicly listed fintech fund, announced the appointment of William Reeve as an Independent Non-Executive Director of the Company and Chairman of the Board, with effect from 1 November 2024. He will also serve on the Company’s Nominations, Audit, Valuations and Management Engagement & Remuneration Committees. William…
Mendell Helium to sell plant-based health & wellness business, Voyager, to Orsus Therapeutics
LONDON: Mendell Helium has announced the conditional disposal of its plant-based health & wellness business, Voyager, to Orsus Therapeutics plc, a private label turnkey solutions provider specialising in developing, formulating, marketing & sales of health and wellness products for global brands. As announced on 27 June 2024, the company has an option to acquire M3…
Financing costs decline below benchmark rate as Pakistani banks race to disburse $128.5bn
Pakistani borrowers can now secure loans at interest rates far below the benchmark, as banks scramble to disburse approximately PKR 3.6 trillion ($128.5 billion) by the end of the year to avoid additional taxation. This unusual scenario has developed as banks try to meet the required Gross Advances to Deposit Ratio (ADR) mandated by the…
Wilh. Wilhelmsen Holding increase stake in Treasure ASA to 84.09%
BRUSSELS: Wilh. Wilhelmsen Holding ASA has bought a further 7 shares in Treasure ASA for a total consideration of NOK 201 million (USD 19 million). Following the latest transaction, Wilh. Wilhelmsen Holding ASA owns 172 million shares in Treasure ASA, representing 84.09% of the shares issued. Founded in Norway in 1861, Wilhelmsen is now a…