ABB sees a yearly potential for cost synergies of $200 million arising as a result of this acquisition. On Monday, Swiss engineering giant ABB stated it will be acquiring General Electric’s Industrial Solutions for $2.6 billion. The deal is help expand its footprint in the North American market. As a result of the deal, Zurich-based…
The Chinese state had a hidden role in the acquisition of Lattice Semiconductor Corp whose chips have military applications. In a clear signal from Washington to Beijing, U.S. President Donald Trump has blocked a Chinese-backed private equity firm’s acquisition bid for a U.S. chipmaker, thus telling Beijing in very lucid terms that the United States…
The two previous attempts at a mergers were unsuccessful due to its sheer complexity. This time with Schneider Electric separating its software business ahead of the merger proved instrumental in signing the deal. On Tuesday, Britain-based Aveva Group disclosed that it has agreed to be acquired by France-based Schneider Electric’s software business and in the…
With the growing global trend of a cashless economy, the payments processing business has seen a a flurry of M&A. The Financial Times has reported citing sources close to the discussion that Hellman & Friedman, a U.S. private equity firm, is the front runner in the race to acquire Nets, Scandinavia’s largest payments processor. The…
The U.S. groceries market is likely to heat up further. In what is likely to be a milestone for Amazon.com, the world’s largest online retailer has managed to get an approval from the U.S. Federal Trade Commission for its planned $13.7 billion acquisition of Whole Foods Market Inc. In its statement, the FTC said it…
The development comes midst Time Warner, HBO’s parent, awaiting regulatory approval in its bid to sell itself to AT&T. Upping their ante against HBO, hackers have released more unaired episodes of its popular shows. The leak however did not include anything on HBO’s hit fantasy series “Game of Thrones”. Recently, hackers have managed to break…
The purchase will bolster its cancer fighting pipeline. Drug manufacturer Bristol-Myers Squibb disclosed it would be acquiring privately held IFM Therapeutics for $300 million. The acquisition, backed by Novartis, will boost its cancer portfolio, since it will be able to access IFM’s preclinical cancer programs. Incidentally, IFM investors are also eligible to additional contingent payments…
This merger assumes significance midst the growing global clamour for going cashless. In a significant development, French payments processing company Worldline has agreed to acquire Digital River World Payments (DRWP), its Swedish peer. The move marks a pickup in the merger activity in the payments sector. Although Worldline did not disclose the quantum it had…
Fireglass specializes in the domain of browser isolation technology. On Thursday Symantec Corp disclosed it is acquiring Israeli cyber security startup Fireglass in a deal designed to boost its cyber security defenses for its products. Symantec has yet to disclose the terms of the deal as well as the price for the acquisition of the…
As per the WSJ with April 11 set as a deadline for the preliminary bids, Yahoo is likely to finalise the deal by June or July this year. Citing sources, the Wall Street Journal has reported that Yahoo Inc has set April 11 as a deadline for submitting preliminary bids for its web business and…
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