LONDON, UK: Midwich Group (AIM: MIDW), a global specialist audio visual distributor to the trade market,t has entered a binding agreement to acquire Nimans Limited and its subsidiaries from Nycomm Holdings Limited. The aggregate consideration of £27.5 million will be paid in cash. The initial consideration of £16.5 million payable upon completion of the acquisition…
Technip Energies acquires a 16.3% stake in X1 Wind
PARIS, FRANCE: Technip Energies (PARIS:TE) has acquired a 16.3% stake in X1 Wind, a renewable energy startup that has designed an innovative and disruptive offshore wind turbine floater with major environmental and operational benefits. Technip Energies is the lead investor in this funding round, which also counts with the participation of the European Commission-owned European…
Vattenfall and Seagust join forces in Norwegian offshore wind bid
OSLO, NORWAY: Vattenfall and Norwegian company Seagust have formed a joint venture to bid for offshore wind areas in Norway’s upcoming licensing rounds. The joint venture represents Vattenfall’s entry into the Norwegian wind market. The joint venture intends to bid on licenses in both the Utsira Nord and Sørlige Nordsjø II areas in the North…
Aker Solutions to acquire electrical power systems consultant Unitech
OSLO, NORWAY: Aker Solutions has agreed to acquire Unitech Power Systems, a leading electrical power systems consultant. The all-cash transaction is expected to be completed during the first quarter of 2022, at an undisclosed value. The acquisition is an important step towards Aker Solutions creating an engineering consultancy business driving the energy transition. Kjetel Digre,…
Embron CEO Trond K. Johannessen will join Pexip Holdings in May 2022
OSLO, NORWAY: Board of Directors of Pexip Holding ASA announced the appointment of Trond K. Johannessen, currently the CEO of Embron Group, a global IT and technology corporation, as Chief Executive Officer (CEO), following an extensive international search process. Johannessen will join Pexip in May 2022. Øystein Hem, who is currently Interim CEO and CFO,…
Entain plc has acquired Avid Gaming for CAD 300mn
LONDON, UK: Entain plc (LON: ENT) has acquired Deis Ltd (Avid Gaming) for CAD 300 million from Middlebrook Investments Limited, a bourse filing said on Monday. Entain Plc is the leading global sports betting, gaming and interactive entertainment operator. Avid Gaming owns Sports Interaction, Canada’s leading online sports betting brand. It is headquartered in Jersey…
QisstPay launches in U.S. market with 1-Click Checkout
DALLAS: Global FinTech Startup, QisstPay has announced launch in U.S. with its 1-Click Checkout product in the U.S. With 1-Click Checkout, shoppers will be able to complete online purchases in just a few seconds without the hassle of filling out repetitive forms or recalling usernames and passwords. For merchants, the improved shopper experience reduces cart…
Intel and Alphawave announce partnership for IFS
LONDON, UK: Alphawave IP (LON: AWE) has entered a partnership with Intel Foundry Services (IFS). Under the partnership, Alphawave IP has joined the IFS Accelerator – IP Alliance as an anchor member, focused on providing leading-edge connectivity solutions for mutual customers with IFS. Tony Pialis, President and Chief Executive Officer of Alphawave stated, “The leadership…
Avass Group to manufacture electric vehicles, lithium batteries in KSA
RIYADH, SAUDI ARABIA: Avass Group signed an agreement with Kingdom Saudi Arabia (KSA) to jointly manufacture electric vehicles and lithium batteries. Australia-based Avass Group have endorsed a Memorandum of Understanding (MoU) with HRH Prince Abdulaziz Bin Abdullah Bin Saud Bin Abdulaziz Al Saud in the capital city of Riyadh on December 19. The agreement bolsters…
SKT & Joby Aviation partner to bring air taxi service to South Korea
SEOUL, SOUTH KOREA: SK Telecom (NYSE: SKM) and Joby Aviation (NYSE: JOBY) will work together to introduce emissions-free aerial ridesharing services (air taxi service) to cities and communities across South Korea. SK Telecom is Korea’s leading ICT company, driving innovations in fixed & wireless telecommunications, AI service, and digital infrastructure service. Joby Aviation Inc. is…
What is Strategic Partnership?
The term Strategic Partnership refers to a relationship between two commercial enterprises, usually formalized by one or more business contracts. A strategic partnership will usually fall short of a legal partnership entity, agency, or corporate affiliate relationship. Most often, they are established when companies need to acquire new capabilities within their existing business. Strategic partnerships can take…
What is a Share Purchase Agreement?
A Share Purchase Agreement (SPA) is a legal contract between a seller and a buyer signed at the time of purchasing the shares of the company and consists of details like an investment, allotment, lock-in period, terms of investment, etc. It is a very important document and every company enters into this agreement; it is the documented…