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Thoma BravoBacked Sophos Expands Cybersecurity Portfolio with Secureworks Acquisition

Thoma Bravobacked cybersecurity company Sophos announced that it acquired SecureWorks from Dell Technologies for $859 million in cash to improve its p

Thoma Bravobacked cybersecurity company Sophos announced that it acquired SecureWorks from Dell Technologies for $859 million in cash to improve its products for business clients. Despite Secureworks shares dropping 1.5% to $8.35 in early trade, stockholders, including Dell, will receive $8.50 per share. Secureworks was founded in 1998 and is wellknown for its potent threat detectionfocused Taegis cloud platform. But in the face of intense competition, the firm has struggled to set itself apart from the competitors, as seen by its 17 centspershare quarterly loss. After purchasing UKbased Darktrace for almost $5.3 billion, Thoma Bravo aims to develop a robust cybersecurity portfolio, another step in that direction. Early 2025 is when the agreement is anticipated to close. Read More..

B2B Tech News | 9 months ago        

Santander Launches Openbank in the U.S., Targeting $30 Billion in Auto Loans

To facilitate up to $30 billion in vehicle loans and grow its retail operations nationwide, Santander launched its digital bank, Openbank, in the US.

To facilitate up to $30 billion in vehicle loans and grow its retail operations nationwide, Santander launched its digital bank, Openbank, in the US. Santander has about $45 billion in retail deposits and over $60 billion in vehicle loans, with a network of 409 locations, mainly in the Northeast. The bank intends to outperform competitors like Goldman Sachs by providing competitive interest rates, beginning with a 5.25% return on savings accounts. Even though Santander stopped making mortgage loans in 2022, it still plans to assess Openbanks development prospects to help small companies. This digital project must be successful to boost the banks lately declining U.S. profitability. Read More..

B2B Tech News | 9 months ago        

WTO Projects 3% Growth in Global Trade by 2025, Contingent on Stability in the Middle East

The World Trade Organisation WTO raised its estimate for global commerce from 2.6% to 2.7% in 2023. If Middle Eastern tensions continue to be managed,

The World Trade Organisation WTO raised its estimate for global commerce from 2.6% to 2.7% in 2023. If Middle Eastern tensions continue to be managed, the organisation expects this growth to accelerate to 3% in 2025. After a fall caused by high inflation and rising interest rates last year, there has been a rebound leading up to this adjustment. Concerns about possible setbacks brought on by intensifying regional conflicts—particularly in the Middle East—that may affect shipping routes and energy prices were brought up by WTO DirectorGeneral Ngozi OkonjoIweala. Read More..

B2B Tech News | 9 months ago        

Japanese Payments Firm Infcurion Set to Go Public in 2025, Backed by ¥8 Billion Investment

Infcurion, a Japanese payments business, intends to go public in Tokyo in 2025 to accelerate expansion through acquisitions and mergers. With more tha

Infcurion, a Japanese payments business, intends to go public in Tokyo in 2025 to accelerate expansion through acquisitions and mergers. With more than ¥30 billion in valuation, Infcurion is supported by an investment of ¥8 billion from Sumitomo Mitsui Financial Group. The firm, established in 2006, provides credit cards, digital wallets, and other payment options. Because of the substantial expansion of the credit card issuing platform, it expects to turn a profit this fiscal year. Additionally, Infcurion is looking at growing in Asia since it believes there are a lot of prospects in the businesstobusiness payments market, which still mainly uses bank transfers. Read More..

B2B Tech News | 9 months ago        

S&P 500 Companies Face Slowing Earnings Growth Amid High Hopes for AI Impact

When earnings season rolls around, investors are watching closely to see how the artificial intelligence investments made by S&P 500 businesses are pl

When earnings season rolls around, investors are watching closely to see how the artificial intelligence investments made by S&P 500 businesses are playing out. The quarters 13.2% earnings growth is predicted to drop to 5.3%, with the technology and communication services industries likely to lead the rise. There is still a lot of hope surrounding AIs influence on profitability as significant companies like JPMorgan Chase and Wells Fargo prepare to report. According to UBS, AI chip sales are expected to hit $168 billion this year, which projects the industry will climb significantly. Read More..

B2B Tech News | 9 months ago        

Sanofi Poised to Sell Consumer Health Unit to CD&R for €15 Billion

Sanofi is getting close to selling its consumer health division to American private equity firm Clayton Dubilier & Rice CD&R for about €15 billion $

Sanofi is getting close to selling its consumer health division to American private equity firm Clayton Dubilier & Rice CD&R for about €15 billion $16.4 billion. This action aligns with Sanofis plan to increase financing for the creation of novel pharmaceuticals. The French pharmaceutical business had received proposals from CD&R and PAI Partners, with the latter being the more competitive. There may be an announcement shortly on the deal. By the end of 2023, Sanofi stated that it may separate its consumer healthcare division. Read More..

B2B Tech News | 9 months ago        

Russia Plans Major Hike in Exit Tax for Foreign Companies, Raising Rate to 35%

The Russian government will raise the onetime departure tax for foreign enterprises departing Russia from 15% to up to 35%. According to the new regul

The Russian government will raise the onetime departure tax for foreign enterprises departing Russia from 15% to up to 35%. According to the new regulations RBC published, 25% of the selling price must be paid to the Treasury within one month, with additional payments of 5% due within a year and the remaining 5% due within two years. Furthermore, corporations selling assets must accept a minimum discount of 60% instead of 50%. It should be noted that President Vladimir Putin must approve any transaction for more than 50 billion roubles $517.6 million. Read More..

B2B Tech News | 9 months ago        

IndiaUAE BIT Amended Local Remedies Exhaustion Period Cut from Five to Three Years

The Bilateral Investment Treaty BIT between India and the United Arab Emirates has been modified, encompassing portfolio investments and shortening th

The Bilateral Investment Treaty BIT between India and the United Arab Emirates has been modified, encompassing portfolio investments and shortening the local remedies exhaustion term from five years to three years for disputes. In an attempt to draw in more investment from the UAE, this move may lead to a rise in arbitration proceedings against India, which might lead to challenges to regulatory rulings. With effect from August 31, 2024, the treaty expands financial assets safeguards, which is a change from Indias prior Model BIT, which was limited to direct investments. Read More..

B2B Tech News | 9 months ago        



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Refresh Your Facts

1.  Global online sales are predicted to reach 22% of all retail sales in 2023.
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2.  Global tablet shipments are expected to hit 142 million by 2025, reports Statista.
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3.  Artificial Intelligence is expected to contribute $15.7 trillion to the economy by the year 2030.
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4.  Since the launch of the popular mobile game, Candy Crush, in 2012, players have spent a total of 73 billion hours (equivalent to 8.3 million years) playing this game.
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5.  Approximately 8 billion gadgets connect on the internet every day.
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