LONDON: Rio Tinto and Arcadium Lithium plc (NYSE: ALTM) announced a definitive agreement under which Rio Tinto will acquire Arcadium in an all-cash transaction for US$5.85 per share. The transaction represents a premium of 90% to Arcadium’s closing price of $3.08 per share on 4 October 2024, a premium of 39% to Arcadium’s volume-weighted average…
New Adobe app to help creators protect their work from AI use
Adobe announced on Tuesday that it will launch a free web-based app next year to help creators of images and videos receive credit for their work used in AI systems. Since 2019, Adobe and other tech companies have been developing “Content Credentials,” a digital stamp for photos and videos that indicates their origin and creation…
Fintech company Facet raises $35 million in a round led by Multiplier Capital
BALTIMORE: Facet, the fintech company that is building the future of financial planning, has raised an additional $35 million in new financing. The round was led by Multiplier Capital, a leading provider of flexible financing solutions. Recently named to the Inc. 5000 list of America’s fastest-growing private companies for a second time, Facet is redefining financial…
CrashPlan has acquired Parablu Inc.
MINNEAPOLIS: CrashPlan has acquired Parablu Inc. a leading provider of data security and resiliency solutions known for its market-leading offerings protecting Microsoft 365 data. The acquisition positions CrashPlan to deliver the industry’s most comprehensive backup and recovery capabilities for data stored on servers, on endpoint devices and in Exchange, OneDrive, SharePoint, and Teams to Azure, their cloud,…
Saudi Arabia’s PIF reduces stake in Nintendo
Saudi Arabia’s Public Investment Fund (PIF) has reduced its stake in Nintendo Co. from 8.58% to 7.54%, according to a Japanese regulatory filing. This decision comes just a day after reports surfaced that a senior executive from the sovereign wealth fund hinted at the possibility of increasing their investment in the Japanese gaming giant. Prince…
Former Humane executives launch AI fact-checking startup, Infactory
Two former executives of Humane, the AI hardware startup, have launched a new artificial intelligence software venture called Infactory, which has successfully raised $4 million at a $25 million valuation. Brooke Hartley Moy, previously Humane’s strategic partnerships lead, and Ken Kocienda, former head of product engineering, are the co-founders of this new enterprise. Infactory aims…
Cykel AI appoints Ewan Collinge as CEO
LONDON: Cykel AI Plc (LSE:CYK) announced that Ewan Collinge, co-founder of the Company, has been appointed as Executive Director and Chief Executive Officer. The appointment will take effect immediately. Ewan is an experienced entrepreneur and technologist. He has launched ventures in AI, payments, blockchain, consumer tech and gaming, including as founder of Cykel AI PLC,…
Brooks Macdonald to acquire LIFT Financial Group and LIFT Invest
LONDON: Brooks Macdonald Group will acquire 100% of the issued share capital of each of LIFT – ‘LIFT-Financial Group Ltd and LIFT-Invest’ for an initial consideration of £30 million payable in cash on completion and a total consideration of up to £45m, subject to financial targets. The acquisition aligns with the Group’s strategy by expanding its client…
QAD Inc. has acquired Phenix Software
SANTA BARBARA: QAD Inc., a prominent provider of cloud-based manufacturing and supply chain solutions, has acquired Phenix Software Inc. This acquisition aims to enhance manufacturers’ productivity and factory performance. The newly named QAD Advanced Scheduling solution optimizes production by determining the best sequence for product manufacturing on each line, minimizing changeovers, optimizing inventory, and aligning…
Butterfly Equity to acquire luxury wine company The Duckhorn Portfolio for $1.95 billion
LOS ANGELES: Butterfly Equity, a Los Angeles-based private equity firm specializing in the food and beverage sector, has entered into a definitive agreement to acquire The Duckhorn Portfolio (NYSE: NAPA), North America’s premier luxury wine company, an all-cash transaction that values the company at approximately $1.95 billion. Under the terms of the Agreement, Duckhorn stockholders will…
Mason Capital to acquire CB&I storage solutions business from McDermott International
NEW YORK: A consortium led by Mason Capital Management LLC in partnership with IES Holdings Inc. (Nasdaq: IESC), and other investors, has entered into a definitive agreement to acquire the CB&I storage solutions business, the world’s foremost designer and builder of storage facilities, tanks and terminals for energy and industrial markets, from McDermott International. CB&I…
Sosandar plc to open fourth store in Cardiff’s St David’s centre
LONDON: Sosandar plc (AIM: SOS), the women’s fashion brand, creating quality, trend-led products for women of all ages, has signed a lease agreement for its fourth store, in Cardiff’s St David’s centre. This follows the recent store openings in Chelmsford, Marlow and the Metrocentre. St David’s occupies one third of Cardiff’s city centre. It creates…