GHENT, BELGIUM: Ardena, a prominent Contract Development and Manufacturing Organization (CDMO), has announced a significant leadership change. **Dr. Harry Christiaens** is retiring after two decades of service as CEO and will continue to serve on the company’s board. Succeeding him is **Jeremie Trochu**, a veteran in the pharmaceutical CDMO sector, who brings a wealth of…
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Indico Data raises $19M with Guidewire to deliver cutting-edge AI technology
BOSTON: Indico Data, the industry’s leading solution for the automating of critical intake workflows across the policy lifecycle, announced completion of a successful funding round raising $19M with a strategic investment from Guidewire, a premier platform for Property and Casualty (P&C) insurers. This strategic financial infusion and partnership with Guidewire will accelerate Indico Data’s mission…
TransDigm completes $1.385 billion acquisition of Electron Device Business
CLEVELAND: TransDigm Group Incorporated (NYSE: TDG) has completed its acquisition of the Electron Device Business of Communications & Power Industries (CPI), a portfolio company of TJC, L.P., for approximately $1.385 billion in cash. TransDigm financed the acquisition through cash on hand as well as cash proceeds from the notes offerings completed in November 2023. The…
Dolby Laboratories agrees to acquire GE Licensing for $429 million
SAN FRANCISCO: Dolby Laboratories Inc. (NYSE: DLB) has entered into a definitive agreement to acquire GE Licensing, which owns, maintains, and licenses an extensive portfolio of IP primarily targeting the consumer digital media and electronics sectors. Dolby Laboratories has agreed to acquire GE Licensing, an intellectual property licensing business primarily targeting the consumer digital media…
Elevate raises $5 million to offer US based $ accounts in Pakistan
KARACHI: Elevate, a fintech, based in London and Dubai, has secured financing of $5 million to expand further into South Asia. They’ve raised a total of $10 million in equity and debt from investors including Y Combinator, Goodwater, Global Founders Capital and VSQ and Since launching earlier this year, over 50,000 Freelancers and remote workers…
Invinity Energy Systems expands UK manufacturing to 500 MWh per year
LONDON: Invinity Energy Systems plc (AIM: IES), a leading global manufacturer of utility-grade energy storage, has leased an additional manufacturing facility in order to meet the growing demand for long-duration energy storage in the UK. The 26,000 sq. ft (2,415 m2) facility located in Motherwell, North Lanarkshire is c.6 times the size of the Company’s…
OPEC+ Extends Oil Output Cuts Amid Market Challenges
On Sunday, OPEC+ made the decision to extend most of its deep oil output cuts well into 2025, surpassing market expectations. The group aims to stabilize the market amidst sluggish demand growth, elevated interest rates, and increasing US production. Oil prices currently hover around $80 per barrel, falling short of what many OPEC+ members require…
Adcendo ApS raises €98M in Series A extension financing
COPENHAGEN, DENMARK: Biotech company Adcendo ApS has successfully completed a second Series A extension financing, securing a total of 98 million EUR. The additional 16 million EUR funding was led by Dawn Biopharma, a platform controlled by KKR, with participation from existing investors including Novo Holdings, Ysios Capital, RA Capital Management, HealthCap, Gilde Healthcare, and…
AXON Aviation Group transfers business aircraft division to Jetcraft
LONDON: AXON Aviation Group (AXON) has selected Jetcraft to take on its business jet activity as it seeks to streamline its service offering. The company will transfer all business aircraft sales and acquisitions to Jetcraft ensuring a smooth handover period for clients. Niki Rokni, Partner and Head of Aircraft Sales at AXON, says: “Jetcraft is…
Caitlyn Carr becomes President and CEO of Coca-Cola Bottlers’ Sales & Services
ATLANTA: Coca-Cola Bottlers’ Sales & Services Company (CCBSS) announced the election of Caitlyn Carr as its new President and CEO, effective June 3, 2024. The decision was made by the Board of Directors, representing nearly 70 independent North American Coca-Cola bottlers. Carr, a seasoned executive with over two decades of experience within the Coca-Cola System,…
Tinicum L.P. buys controlling stake in Tulsa-based KGM
TULSA: Tinicum L.P., along with funds managed by Tinicum Incorporated, has taken a controlling interest in KGM, a Tulsa-based distributor of natural gas products. The acquisition, which sees management shareholders retaining substantial stakes, was facilitated without disclosing the financial specifics. KGM, known for its comprehensive range of gas meters, instruments, regulators, and valves, serves a…
The9 Limited secures $3.5 million investment from Fine Vision Fund
The9 Limited (Nasdaq: NCTY), a prominent Internet company, has announced a substantial investment from Fine Vision Fund, a venture of the globally recognized Finewill Capital. This strategic partnership underscores Fine Vision Fund’s commitment to fostering growth and innovation in global gaming projects. Under the terms of the private placement agreement, Fine Vision Fund will channel…