Video game giant Electronic Arts Inc agreed to be acquired by a consortium including Saudi Arabia’s Public Investment Fund, U.S. private equity firm Silver Lake, and Affinity Partners in a landmark $55 billion all-cash deal that would be the largest leveraged buyout in history. Under the terms of the deal announced on Monday, shareholders of…
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Natascha Viljoen to become first female CEO of Newmont Corp. in January
DENVER: Newmont Corp. announced Monday that President and Chief Operating Officer Natascha Viljoen will succeed Tom Palmer as chief executive officer, effective Jan. 1. Palmer, who has led the world’s largest gold miner since 2019, will step down from the board and retire as CEO on Dec. 31, capping a 12-year tenure with the company…
Zoth acquires Neemo Finance to bolster stableFi platform with liquid restaking
SINGAPORE: Blockchain infrastructure firm Zoth said on Tuesday it acquired Neemo Finance, a liquid restaking protocol, in a strategic move to integrate yield-generating services into its growing “StableFi” operating system. The acquisition, the terms of which were not disclosed, aims to enhance Zoth’s suite of financial products by adding Neemo’s technology for liquid restaking and…
Factory Inc. announces Droids’ AI development agents; Secures $50 million in Series B funding
SAN FRANCISCO: Factory Inc. announced Tuesday the release of Droids, a new class of AI software development agents, following the product’s top ranking on the Terminal Bench, a standard industry benchmark. The company also announced it has raised $50 million in a Series B funding round led by NEA and Sequoia Capital, with participation from…
Easy Mile Fitness acquires 17 Planet Fitness Clubs, expands reach in Pacific Northwest
PORTLAND: Easy Mile Fitness, a privately held Planet Fitness franchisee, has acquired 17 new locations from Bravo Fit Franchise Group, expanding its footprint across Oregon and Alaska. The acquisition includes 15 clubs in Oregon—spanning Portland, Bend, Medford and Yakima—and two in Anchorage, Alaska. With the deal, Easy Mile Fitness becomes the largest Planet Fitness operator…
Association Analytics acquired by Theatre and Trajectory Capital
ARLINGTON: Association Analytics (“A2”), a leading provider of data and analytical software for trade and professional associations, announced today the sale of its key assets to Theatre Capital and Trajectory Capital. The investment firms have partnered with the existing A2 management team, including CEO Alex DeBarr, to accelerate the growth of the company’s platforms. The…
Fiserv acquires Smith Consulting Group to strengthen advisory services for community financial institutions
BROOKFIELD: Fiserv, Inc. (NYSE: FI), a leading global provider of payments and financial services technology, has acquired Smith Consulting Group (SCG), an operational consulting firm serving community banks and credit unions. The terms of the transaction were not disclosed. The acquisition, announced Tuesday, is intended to deepen the in-house expertise Fiserv can offer its clients….
Perseus, SODA.Auto forge alliance to develop AI-powered vehicle interface
LONDON: Perseus Motor Corporation, Europe’s first AI-native electric vehicle brand, announced a strategic alliance Tuesday with software-defined vehicle leader SODA.Auto to co-develop what they term the world’s most advanced artificial intelligence-powered Human-Machine Interface (HMI). The partnership aims to create a vehicle that learns and adapts to its driver’s habits and emotional state, moving beyond traditional…
Goldman Sachs-backed Petershill Partners to delist from London at £3.4bn valuation
LONDON Investment firm Petershill Partners (PHLL.L), backed by Goldman Sachs (GS.N), said on Friday it plans to delist from the London Stock Exchange, becoming the latest company to quit the city’s equity market in a deal valuing it at about £3.4 billion. The FTSE 250 group, which provides retail investors access to private equity and…
Starbucks to close stores, cut jobs in $1 billion restructuring push
Key Points: Starbucks announced a major restructuring plan on Thursday that includes shuttering underperforming stores in North America and cutting 900 jobs, as Chief Executive Brian Niccol presses ahead with his strategy to streamline the coffee chain and reignite growth. The $1 billion effort comes as Starbucks grapples with six straight quarters of sales decline…
EU car sales rise in August; Chinese brands gain ground as Tesla slips
BRUSSELS: Car sales across the European Union, Britain and the European Free Trade Association rose 4.7% in August to 800,000 units, according to data released Thursday by the European Automobile Manufacturers’ Association (ACEA). Volkswagen and Renault posted year-on-year gains of 4.8% and 7.8%, respectively, while Stellantis saw a 2.2% increase — its first growth since…
Handgards LLC acquires Albany Packaging USA to expand foodservice offerings
EL PASO: Handgards, LLC, a leading distributor of foodservice products and a portfolio company of Wynnchurch Capital, L.P., announced Thursday it has acquired Albany Packaging USA, a Florida-based distributor of paper-based foodservice packaging. Albany Packaging, headquartered in Deerfield Beach, specializes in paper folding cartons and other packaging solutions sold to supermarkets, bakeries, restaurants and convenience…