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BlackRock Makes Strategic Move with $3.23 Billion Preqin Acquisition

The largest asset management company in the world, BlackRock BLK.N, has agreed to pay 2.55 billion pounds $3.23 billion in cash to purchase Preqin, a

The largest asset management company in the world, BlackRock BLK.N, has agreed to pay 2.55 billion pounds $3.23 billion in cash to purchase Preqin, a data provider in the UK. With this acquisition, BlackRock is strengthening its Aladdin technology platform and taking a calculated step into the private markets data space. Preqins vast data, research skills, and investing methods will benefit Aladdin, BlackRocks flagship portfolio management software, improving services for international fund managers. Preqin was established in 2003 and provides alternative investing data to customers in over 90 countries. Preqin has exhibited a robust yearly growth rate of roughly 20% in recent years, and BlackRock projects that it will generate approximately $240 million in recurring revenue by 2024. Read More..

B2B Tech News | 3 months ago        

Atos Finalizes Agreement for Debt Restructuring, Plans Capital Increase and Debt Conversion

The French technology giant Atos ATOS.PA has made significant progress in its financial recovery efforts by finalising an agreement with a group of ba

The French technology giant Atos ATOS.PA has made significant progress in its financial recovery efforts by finalising an agreement with a group of banks and bondholders about its debt restructuring plan. The restructuring strategy includes a capital increase of 233 million euros $250 million through preferential subscription rights. Atos net indebtedness will be drastically reduced by approximately 3.1 billion euros once approximately 2.8 billion euros of its debt is converted into equity, totalling 2.9 billion euros. After ending talks with investor David Layanis Onepoint consortium last Wednesday, Atos hopes to finalise the restructuring deal by July. Read More..

B2B Tech News | 3 months ago        

Google Makes Strategic Investment in Taiwans New Green Power for Renewable Energy Push

As part of its efforts to lower carbon emissions throughout its supply chain and operations, Google has invested in Taiwans New Green Power NGP and ai

As part of its efforts to lower carbon emissions throughout its supply chain and operations, Google has invested in Taiwans New Green Power NGP and aims to buy up to 300 megawatts of renewable energy from the company. The investment is intended to promote NGPs construction of a sizable solar pipeline in Taiwan, which was made possible by a stake acquisition whose value still needs to be revealed. This action is essential as Taiwans decarbonisation initiatives will face difficulties because it still primarily generates its electricity from fossil fuels. Google plans to address Scope 3 emissions related to its value chain by using the solar energy it has acquired to power its activities and provide excess to suppliers. Read More..

B2B Tech News | 3 months ago        

SK Hynix to Invest $74.6 Billion in Chip Business, AI by 2028

Parent firm SK Group has announced that South Koreas SK Hynix will invest 103 trillion won $74.6 billion by 2028 to improve its semiconductor business

Parent firm SK Group has announced that South Koreas SK Hynix will invest 103 trillion won $74.6 billion by 2028 to improve its semiconductor business, emphasising artificial intelligence. SK Group intends to streamline its 175+ companies and raise 80 trillion won by 2026 for semiconductors and artificial intelligence AI investments. The move is in response to significant losses at SK Hynix and its EV battery business. AI data centres, highbandwidth memory chips, and AI services are essential areas of attention. With a target profit before taxes of 40 trillion won by 2026, SK Group anticipates making 22 trillion won this year. This programme supports South Koreas endeavours to maintain its competitiveness in the worldwide semiconductor industry. Read More..

B2B Tech News | 3 months ago        

Japans Unemployment Rate Holds Steady at 2.6% in May, Matching Expectations

As expected by experts, Japans unemployment rate remained stable at 2.6% in May, indicating no change from the previous month. However, the ratio of p

As expected by experts, Japans unemployment rate remained stable at 2.6% in May, indicating no change from the previous month. However, the ratio of positions to applicants fell to 1.24 from 1.26 in April, suggesting a little reduction in available employment. According to this ratio, there were 124 job vacancies for every 100 job searchers. The Labour Ministry of Japans statistics highlight a competitive but steady employment market, requiring ongoing efforts to link job searchers with available opportunities amid economic recovery initiatives. When it comes to understanding Japans labour market dynamics in the face of persistent difficulties and periods of recovery, economists still keep a careful eye on these metrics. Read More..

B2B Tech News | 3 months ago        

Nike Shares Tumble 12% on Forecast of Revenue Decline Amid Sneaker Demand Shifts

Following hours, Nikes shares fell more than 12% as the company revealed an unexpected prediction of a midsingledigit percentage decline in revenue fo

Following hours, Nikes shares fell more than 12% as the company revealed an unexpected prediction of a midsingledigit percentage decline in revenue for fiscal 2025 NKE.N. This decline is ascribed to customers growing preference for more recent companies like On and Hoka, which have eaten into Nikes market share with trendier merchandise. Nike needs help recovering momentum despite efforts to increase sales through directtoconsumer channels and product advancements, such as improved running shoes and impending launches like the Air Max range. Its projection is further complicated by weak overseas sales, especially in China, and worse North American traffic a 10% revenue decrease is predicted for the first quarter of fiscal 2025. Read More..

B2B Tech News | 3 months ago        

ANZ Group Cleared for $3.26 Billion Acquisition of Suncorps Banking Business

Following nearly two years of examination by treasury and financial authorities, Australia has authorised ANZ Groups acquisition of Suncorps banking d

Following nearly two years of examination by treasury and financial authorities, Australia has authorised ANZ Groups acquisition of Suncorps banking division for A$4.9 billion $3.26 billion. Under legally binding terms designed to preserve employment opportunities and financial services accessibility, Treasurer Jim Chalmers affirmed the ruling. One of the threeyear restrictions on shutting Suncorps rural bank branches and reducing employment across Australia is one of these requirements. The Australian Competition Tribunal eventually approved the transaction after being first rejected by the countrys competition authority due to worries about diminished competition. ANZ and Suncorp filed appeals in support of the acquisition. Speaking confidently, ANZ CEO Shayne Elliott emphasised the advantages of the integration for the companys retail and commercial businesses, increasing ANZs competitiveness in the Australian market. Read More..

B2B Tech News | 3 months ago        

Nokia to Acquire Infinera for $2.3 Billion, Expanding Optical Network Business

With a $2.3 billion transaction, Nokia will buy Infinera Corp to grow its optical network business, especially in North America. Infineras stock incre

With a $2.3 billion transaction, Nokia will buy Infinera Corp to grow its optical network business, especially in North America. Infineras stock increased by about twenty per cent after the news. At $6.65 per share, the offer is valued at 26.4% more than Infineras most recent closing price. Nokia has agreed to pay Infineras stockholders at least 70% in cash, possibly receiving up to 30% in Nokias American Depositary Shares. According to projections, this purchase will enhance Nokias profits by more than 10% by 2027 and its comparable earnings per share in the first year. Infinera is a San Jose, Californiabased company that specialises in networking equipment for telecom networks and optical semiconductors. Read More..

B2B Tech News | 3 months ago        



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1.  Global online sales are predicted to reach 22% of all retail sales in 2023.
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