The teleconferencing software Zoom acquires cloud contact centre Five9 for $14.7 billion. This acquisition will help Zoom to enhance its presence with enterprise customers and will allow it to speed up its long term growth opportunity by adding $24 billion in contact centre market. As per the proposed transaction, the stakeholders of Five9 will receive […]
The tech giant Tencent agrees to buy video game maker Sumo Group for $1.27 billion. The Chinese firm is offering around 513 pence per share for Sumo, a 43% premium to the British company’s previous close. On a fully diluted basis, the offer values Sumo at about 919 million pounds ($1.26 billion). Tencent already owns […]
The start-up battery company Enovix began its trading after SPAC merger with special purpose acquisition company Rodgers Silicon Valley Acquisition Corp. After opening the shares in wall street the company announced its merger with the company. Enovix has plans to go essentially zero revenue tin 2021 to $11 million 2022, and then into the mid-$100 […]
India’s Food service platform Zomato has gone on sale in its $1.2bn (£870m) initial public offering (IPO). The food delivery app has subscribed 1.26 times on July 15 by far, the second day of bidding. The offer has received bids almost around 90.57 crore equity shares against IPO size of 71.92 crore equity shares, the […]
The oil giant Shell , Deutsche Telekom ‘s corporate customers arm and and T-Systems International GmbH (T-Systems), have signed a memorandum of understanding (MOU) to advance digital innovation as both companies are transitioning to net-zero emissions. Under the MOU both the companies will agree to Pursue the net-zero goals, Collaborate on innovations and services to […]
The Billionaire Elon Musk all set to invest $30 billion to keep Starlink in orbit. It is currently operating in about a dozen countries and has just over 69,000 active users. The Tesla Inc CEO and founder of SpaceX, a rocket ship venture that seeks to colonise Mars, said investment costs before Starlink achieves fully […]
The Medical technological company CMR Surgical has announced that it has raised £425 million in Series D financing at $3B valuation. The round was led by SoftBank Vision Fund 2ii and co-led by Ally Bridge Group and will support the Company’s mission to make keyhole surgery accessible to more people worldwide. The funds will be […]
The cloud computing platform Amazon Web Services acquire messaging service Wickr. Amazon Web Service had posted revenues of $13.5 billion last quarter, up 32% year-on-year, with net income of $8.1 billion. The Amazon subsidiary AWS made the decision official through a social media post. The post read, “We are excited to share that AWS has […]
The Investment bank HSBC is committing $5 billion of lending to support strong companies in the United Arab Emirates ( UAE ) that need new capital to drive well-developed plans to grow their businesses globally. The initiative is a meaningful way for HSBC to recognise both its 75th year in the UAE and its support […]
The oil giant Aramco closes $12.4 billion deal with global investor consortium which includes EIG and Mubadala. In the purchase agreement the consortium has acquired a 49% stake in Aramco Oil Pipelines Company, a subsidiary of Aramco, for around $12.4 billion. The consortium consists of investors from Asia, North America and the Middle East. Aramco […]
The multinational electronics company Panasonic has sold off its entire Tesla stake last fiscal year Which has helped Panasonic earn billions of dollars in proceeds to fund new investments. Panasonic initially bought 1.4 million shares at $21.15 each around the time of Tesla’s June 2010 IPO. The company reported its stake was worth about $730 […]
The financial services corporation Visa has announced that it has signed a agreement to acquire Swedish Banking Platform Tink. Tink is a European open banking platform that enables financial institutions, fintechs and merchants to build tailored financial management tools, products and services for European consumers and businesses based on their financial data. Visa will pay […]
The Teleco companies Telenor , Axiata and Digi sign merger agreements of Celcom and Digi brand which will serve 19 million customers. Axiata and Telenor will be equal partners with 33.1 percent ownership stake each in MergeCo, and MergeCo will continue to be listed on Bursa Malaysia Securities Berhad (“Bursa”). Targeted to be among the […]
The Irish government has plans to sell part of its $807 million (€676 million) stake in Bank of Ireland Group Plc. over the next six months. The sale will occur through a pre-arranged trading plan that will be managed by Citigroup Global Markets. Citi group will be appointed to the role from the Department of […]
The global specialist HIV company ViiV Healthcare has entered a global collaboration and license agreement with Halozyme for ENHANZE. Halozyme’s drug delivery technology provides the opportunity to administer large volume subcutaneous injections that may enable dosing intervals of every three months and up to six months or longer for ViiV’s pipeline of HIV medicines. The […]
