There have been series of reports and allegations that Alpha Beta was secretly owned by a former Governor of Lagos State, Asiwaju Bola Ahmed Tinubu, he has neither commented on the allegations officially.
GLOBAL
Etihad, Emirates deny merger rumours
The duo of Etihad and Emirates Airlines have denied that the latter plans to take over the operations of the former. A deal which would have become the largest airline by passenger traffic was denied by the two airlines as untrue. Bloomberg had reported yesterday evening (Nigerian time) that Emirates […]
Hacked Japanese crypto exchange to sell majority stake
After loosing Bitcoin worth $60 million, ZAIF said it is looking at selling off controlling stake to a new investor to cover its losses. It would be recalled that Japan’s ZAIF said hackers made away with Bitcoins to the tune of 5,966 bitcoins. Zaif is onwed by Tech Bureau. The […]
AkzoNobel acquires Xylazel
Akzo Nobel N.V. said it has acquired Xylazel S.A. (Xylazel), a 100% subsidiary of Pharma Mar S.A. (PHM). With this acquisition AkzoNobel strengthens its business and becomes a leader in the decorative paints market in Spain. It also means the company is now the leader in the country’s woodcare segment […]
TECH
Adobe to acquire B2B platform, Marketo
Adobe said it has entered into a definitive agreement to acquire Marketo for $4.75 billion, subject to customary purchase price adjustments. Marketo is a cloud platform for B2B marketing engagement, which according to its disclosure has nearly 5,000 customers. The company said in a statement that will enable it to […]
Amazon enters India’s retail sector with investment in More
Amazon alongside an Indian private equity firm Samara Capital have invested in Indian supermarket chain More. The investment is Witzig Advisory Services, which is owned by Samara Alternative Investment Fund, Amazon said without divulging financial details or the size of its stake. Witzig is in the process of acquiring Aditya Birla […]
Vonage acquires NewVoiceMedia for $350 million
Cloud-based VoIP provider, Vonage said it has acquired NewVoiceMedia for $350 million. Vonage said in a statement that has entered into an agreement to acquire privately-held NewVoiceMedia, an industry-leading cloud Contact Center-as-a-Service (CCaaS) provider, for an equity price of $350 million paid in cash. The acquisition combines Vonage’s robust UCaaS […]
STARTUPS
Airtame has now shipped 100,000 devices
Airtame, a Danish startup that produces a wireless HDMI solution for both business and education sectors, announced that they hit a big milestone: 100,000 devices shipped. Airtame recently released Homescreen Apps, simple app integrations for smarter team collaboration and everyday inspiration. This product update signals a step into the world […]
No lessons learnt? Konga goes back to pay on delivery
Nigeria’s Konga, an eCommerce company that was acquired by Zinox said it is restarting its pay on the delivery policy. By its literal meaning, customers can order goods on the website and pay when the products are delivered. Konga made it known recently while adding that it will also activate […]
Japan-based Nigerian developer, Simple Azenabor, to launch SoftTalk Messenger
A Nigerian citizen based in Japan, Simple Azenabor, said he will be launching SoftTalk Messenger, a messaging app that will compete with the likes of WhatsApp. According to a report from Pulse.ng, SoftTalk Messenger will enable users to chat, make audio and video calls, unrestricted numbers of group chats as […]
Rocket Internet buys back EUR289 million debt
The management board of Rocket Internet SE the approval of the supervisory board, to invite holders of the convertible bonds due 22 July 2022. The bonds were issued issued by Rocket Internet SE on 22 July 2015, ISIN DE000A161KH4 with an outstanding aggregate nominal amount of approximately EUR 289 million […]
Other News
PonkiHosting brings affordable hosting for startups
Hosting and setting up your website should not cost you an arm and a leg, what PonkiHosting guarantees you is affordable rates, quality service and everything you want from you web administrator. 99.9% Uptime Guarantee: You get 99.9% Server uptime assured on all our hosting plans and VPS. You have no […]
CBN renames Skye Bank to Polaris Bank
The Central Bank said it has renamed Skye Bank to Polaris Bank which signals its take over by the apex bank. The Central Bank has as a result of this revoked the license of Skye Bank. The apex bank said it has injected about N786 billion into the bank to recapitalise […]
Nigeria’s central bank revokes license of Skye Bank
Nigeria’s Central Bank said it has revoked the banking license of Skye Bank, a tier 2 lender in Nigeria. The decision was announced by Umar Ibrahim, chairman of the Nigeria Deposit Insurance Corporation (NDIC), the government agency that insures funds in deposit money banks, made this known to journalists in […]
Actis acquires Standard Chartered Bank Asian real estate business
Actis said it has acquired Standard Chartered Bank’s Principal Finance Real Estate business in Asia. Actis is an emerging market private equity firm with over 54 portfolio companies. The private equity firm said in a statement that the portfolio is seeded with seven investments in China, India, and South Korea. […]
AkzoNobel acquires Brazil’s Polinox
AkzoNobel Specialty Chemicals said it has completed its acquisition of Brazil’s Polinox. Polinox is a producer of ketone peroxides, an essential ingredient in the manufacture of polymers. The purchase expands the company’s footprint in South America, establishing it as one of the region’s leading producers of curing systems for polyester […]
Abraaj’s investors prefers Actis’ $1 bid to acquire the ailing PE
Investors of Abraaj Group, the embattled Middle East’s largest private equity firm seems not to be unmoved by financial gains in selling off the company. According to its official disclosures, Abraaj said it has 10 Middle East funds with approximately 200 investors from around the world. There are reports that […]
Etihad, Emirates deny merger rumours
The duo of Etihad and Emirates Airlines have denied that the latter plans to take over the operations of the former. A deal which would have become the largest airline by passenger traffic was denied by the two airlines as untrue. Bloomberg had reported yesterday evening (Nigerian time) that Emirates […]
Adobe to acquire B2B platform, Marketo
Adobe said it has entered into a definitive agreement to acquire Marketo for $4.75 billion, subject to customary purchase price adjustments. Marketo is a cloud platform for B2B marketing engagement, which according to its disclosure has nearly 5,000 customers. The company said in a statement that will enable it to […]
Hacked Japanese crypto exchange to sell majority stake
After loosing Bitcoin worth $60 million, ZAIF said it is looking at selling off controlling stake to a new investor to cover its losses. It would be recalled that Japan’s ZAIF said hackers made away with Bitcoins to the tune of 5,966 bitcoins. Zaif is onwed by Tech Bureau. The […]
Amazon enters India’s retail sector with investment in More
Amazon alongside an Indian private equity firm Samara Capital have invested in Indian supermarket chain More. The investment is Witzig Advisory Services, which is owned by Samara Alternative Investment Fund, Amazon said without divulging financial details or the size of its stake. Witzig is in the process of acquiring Aditya Birla […]
Vonage acquires NewVoiceMedia for $350 million
Cloud-based VoIP provider, Vonage said it has acquired NewVoiceMedia for $350 million. Vonage said in a statement that has entered into an agreement to acquire privately-held NewVoiceMedia, an industry-leading cloud Contact Center-as-a-Service (CCaaS) provider, for an equity price of $350 million paid in cash. The acquisition combines Vonage’s robust UCaaS […]