MELBOURNE – Australian wealth management platform Praemium Ltd (ASX: PPS) said on Monday it will acquire technology solutions firm Technotia Laboratories in a $7.5 million all-share deal, aiming to accelerate artificial intelligence innovation and automation across its services. Praemium will issue 9,047,045 ordinary shares at $0.829 each to acquire 100% of Technotia, founded by scientist…
GAITHERSBURG – AstraZeneca said on Monday it will invest $2 billion to expand its manufacturing footprint in Maryland, including a major expansion of its biologics facility in Frederick and construction of a new clinical manufacturing site in Gaithersburg. The investment will support 2,600 jobs across the two sites, including 300 highly skilled roles, retention of…
STOCKHOLM – Swedish retailer Clas Ohlson said on Tuesday it will invest 400-450 million Swedish crowns ($38-43 million) to upgrade its main distribution centre, betting on automation to fuel long-term growth in both store and online sales. The board-approved investment will modernise the company’s logistics hub in Insjön, Dalarna, the town where it was founded over…
Verbrec to acquire Alliance Automation for $5.5 million, divests Competency Training business SYDNEY: Australian engineering services firm Verbrec Limited (VBC.AX) said on Wednesday it has agreed to acquire automation and control company Alliance Automation from Telstra Group Limited (TLS.AX) for an upfront cash consideration of A$5.5 million ($3.6 million). The acquisition, outlined in a share purchase…
The manufacturing facility is expected to create 3,600 jobs WILMINGTON: AstraZeneca is investing $4.5 billion in its new manufacturing facility in Virginia, a proposed increase of $500 million to support the enhanced manufacturing capability of a broader range of medicines including cancer treatments. This is part of the historic $50 billion investment announced in July…
PERTH: Australian technology firm Vection Technologies Ltd said on Monday it has agreed to acquire digital transformation company Digital Experience Labs Pty Ltd (DXLabs) in an all-scrip deal, aiming to strengthen its earnings and expand its footprint in the Asia-Pacific region. The acquisition, which is expected to close by Oct. 31, will add approximately A$3.5 million…
SYDNEY: Engineering and asset management firm Verbrec Ltd. (ASX: VBC) said Tuesday it has agreed to sell its registered training organization, Competency Training Pty Ltd, to RelyOn Australia Pty Ltd for A$11.5 million in cash. The deal, subject to customary conditions including approval from the Foreign Investment Review Board, will see all staff, facilities and…
Company’s adjusted operating profit fell to SEK 3.1 billion due to currency headwinds STOCKHOLM: Sweden’s SKF (SKFb.ST) said on Monday it has agreed to sell its precision elastomeric device (PED) operation in Elgin, Illinois, to Carco PRP Group for an estimated enterprise value of USD 70 million, as part of its strategy to streamline its…
LOS ANGELES: U.S. defense manufacturing startup Hadrian announced on Thursday the close of a $260 million Series C funding round, led by Founders Fund and Lux Capital, to significantly expand its production facilities aimed at bolstering American naval defense capabilities. The Hawthorne, California-based company, which uses automation, robotics, and artificial intelligence to produce precision machine…
Tribe Technology PLC, a leading developer and manufacturer of autonomous mining equipment, has announced a joint development agreement with Veracio Australia Pty Ltd, a subsidiary of Boart Longyear and a global leader in core and chip sample scanning. The agreement will see the two companies collaborate on a new system for blast hole chip sampling,…
ServiceNow, the leading digital workflow company, has announced it has signed an agreement to acquire NetACE, a network management and automation technology from Atrinet, to accelerate business transformation for telecommunications companies (telcos). The acquisition will enable ServiceNow to provide end-to-end network lifecycle management for telcos on a single, AI-first digital workflow platform. ServiceNow will integrate…
Schneider Electric, the leader in the digital transformation of energy management and automation, has teamed up with Intel and Red Hat to release a new software framework for industrial control. The Distributed Control Node (DCN) software framework is an extension of Schneider Electric’s EcoStruxure™ Automation Expert that allows industrial companies to enhance their operations, ensure…