Standard Bank acquires Nomanini for $4m to expand financial services with other regional giants
Businessam Staff
August 27, 2019
Kenneth Afor with agency report Africa’s biggest bank, Standard Bank has acquired Nomanini, a fintech firm that offers digital financial services to micro-business owners in the Southern region of Africa. Standard Bank with this acquisition will look to further penetrate the region in offering credit facilities to petty shop owners after it has invested $4 […]
Cisco to acquire business intelligence startup Accompany for $270m
Businessam StaffMay 2, 2018
Cisco, worldwide leader in IT and networking, announced Monday its intent to acquire Accompany, a privately held business intelligence start based in Los Altos, Calif. The company provides an AI-driven relationship intelligence platform for finding new prospects, navigating the selling process, and strengthening relationships. Amy Chang, Accompany Founder and CEO will join Cisco as senior vice president in […]
South Africa’s Foschini Group snaps up UK’s fashion brand Hobbs
Businessam StaffNovember 7, 2017
Hobbs, the British high street fashion retailer known for being a favourite of the Duchess of Cambridge, has found a new owner in the form of South African retailer The Foschini Group (TFG). Hobbs chief executive Meg Lustman said this would help the brand to become “truly successful”. “With TFG’s existing experience managing desirable brands, […]
Blackstone in talks to sell stake in camera maker Leica
Businessam StaffAugust 2, 2017
Buyout group Blackstone is in talks with potential buyers for its 45 percent stake in iconic high-end camera and sport optics maker Leica, people close to the matter said. The investor has teamed up with an investment bank to work out strategic options for the company and has already held talks with several potential acquirers, […]
More bags, shoes as Kors, Jimmy Choo get into $1.2bn tie-up deal
Businessam StaffJuly 28, 2017
U.S. retailer Michael Kors (KORS.N) is betting that its acquisition of storied shoemaker Jimmy Choo will give sales a much-needed boost, but lingering problems at Kors’ core bag business could delay potential benefits. Kors said earlier this week it would buy Jimmy Choo for $1.2 billion and plans to expand the line by opening more […]
Asda believed to be considering £4.4bn takeover bid for discount retailer B&M
Businessam StaffJuly 24, 2017
Asda is believed to be considering a £4.4bn takeover bid for discount retailer B&M, a move which would make it the latest grocer to look beyond the traditional food and drink space. Britain’s third biggest supermarket is reportedly in the early stages of assessing a bid for B&M, the bargain houseware chain run by billionaire […]
Deeper probe ordered by UK regulator in Tesco, Booker proposed deal
Businessam StaffJuly 12, 2017
The United Kingdom’s competition regulator has ordered a deeper probe on the proposed 3.7 billion pounds ($4.75 billion) takeover by supermarket Tesco’s of wholesaler Booker. It involves a detailed investigation and been at the behest of the companies who had requested that it “fast track” the process. Tesco, Britain’s biggest retailer, and Booker announced the […]
Toshiba revives stalled $18bn chip business sale with Wetern Digital, Foxconn
Businessam StaffJuly 11, 2017
Toshiba Corp is in talks with Western Digital Corp and Taiwan’s Foxconn, as well as with an already preferred bidder, as it seeks to revive a stalled $18 billion sale of its chip business, banking sources told Reuters on Tuesday. The Japanese conglomerate confirmed it was in talks with suitors, but did not name them, […]
Barclays Kenya `open minded’ on takeovers as industry wilts
Businessam StaffJuly 7, 2017
Barclays Bank of Kenya Ltd. is ready to make acquisitions in East Africa’s largest economy as the industry struggles to cope with interest-rate caps that have cut profit and curbed lending and regulators urge the industry to consolidate. “Are we open to acquiring? Absolutely,” Chief Executive Officer Jeremy Awori said in an interview on Wednesday […]
Foreign buyers drive Russian M&A volumes, Deutsche top adviser
Businessam StaffJuly 6, 2017
Russian acquisitions by overseas buyers have hit their highest level since before sanctions were imposed in 2014, Thomson Reuters data shows, with a renewed willingness to do business with Moscow. Inbound merger and acquisition (M&A) volumes total $4.6 billion in 2017, almost triple the $1.6 billion seen for the same period in 2016 and the […]