Tag Archives: merger

San Francisco, United States | AFP | Target said Wednesday it was acquiring same-day grocery delivery service Shipt for $550 million, helping the US retail titan step up its challenge to Amazon and its recently acquired Whole Foods supermarket chain. The retailer said it planned to combine its network of stores …

New York, United States | AFP | Apple said Monday that it would buy leading song recognition app Shazam in a fresh bid to secure an edge in the intensifying battle of streaming services. Apple, whose streaming service has rapidly grown but still has only half the paid subscribers of Spotify, …

Paris, France | AFP | French oil giant Total said Monday it has agreed to sell its remaining stake in a Norwegian oil field to Kuwait so that it can focus on its recent acquisition of Denmark’s Maersk Oil. “Total has signed an agreement to divest its remaining 15-percent interest in …

Beijing, China | AFP | Chinese authorities have approved a mega-merger between the country’s largest coal producer and a top electricity firm, the government said Monday, reportedly creating the world’s biggest power company in terms of capacity. The tie-up between the two state-owned companies — coal producer Shenhua Group Corp. and …

Jerusalem, Undefined | AFP | US giant Intel announced Monday it would buy Israeli car tech firm Mobileye for more than $15 billion (14 billion euros), the largest cross-border tech deal in the Jewish state’s history. Mobileye makes advanced driver assistance for car manufacturers, and has already collaborated with Intel and …

Johannesburg, South Africa | AFP |  South African retail firms Steinhoff International and Shoprite Holdings announced Monday they had scrapped plans to merge their local assets to form the continent’s biggest retailer. The plan announced in December 2016 was geared to create a discount retailer worth over $14 billion to …

Beijing, China | AFP |  Beijing is tightening screening on Chinese companies’ overseas investments, according to the government and reports, after a record-setting shopping spree raised concerns of capital flight and reckless spending. Authorities will “combine facilitating foreign investment with guarding against investment risks” by scrutinising proposed deals, said a …

San Francisco, United States | AFP |  Facebook on Wednesday said that it has bought facial recognition startup FacioMetrics, potentially using the technology for photo or video effects to better challenge rival Snapchat. “How people share and communicate is changing and things like masks and other effects allow people to …

Berlin, Germany | AFP |  German industrial giant Siemens on Monday said it would buy US software firm Mentor Graphics for $4.5 billion, building out its offer to high-tech manufacturing industries. Oregon-based Mentor employs more than 5,700 people and produces software used to design electronics products, especially integrated circuits. The …

Washington, United States | AFP |  US software giant Oracle said Saturday that it has sealed its $9.3 billion acquisition of cloud computing company NetSuite. Oracle said that a majority of shares — 53 percent — owned by eligible stockholders in the vote had been tendered. The acquisition is to …