SINGAPORE, Jan. 21, 2025 /PRNewswire/ -- Ascentium, a leading global business services platform headquartered in Singapore and backed by Hillhouse Investment, has announced the acquisition of Virtuzone, the UAE's leading and award-winning provider of company formation solutions, corporate services, and tax consultancy. This strategic move signifies Ascentium's entry into the dynamic Middle East markets, leveraging Virtuzone's expertise and local presence to tap into emerging opportunities in the region. From left to right: Lennard Yong, Founding Management and Group CEO; Chloe Chan, Chief Strategy and Corporate Development Officer; Wendy Wang, Founding Management and Group President from Ascentium, joined by Neil Petch, Chairman and Co-founder; Geoff Rapp, Executive Director and Co-founder; George Hojeige, Group CEO from Virtuzone. The acquisition of Virtuzone—which includes Virtuzone's sister companies, Taxready.ae, Next Generation Equity and MAKTABI—positions Ascentium to establish a robust foothold in the United Arab Emirates (UAE) and extend the potential reach across the Gulf Cooperation Council (GCC) region. With foreign direct investment (FDI) inflows in the UAE soaring to USD 30.6 billion in 2023 and the Middle East's GDP growth projected to reach 3.9% in 2025, this acquisition aligns with Ascentium's growth strategy in strategic markets. Lennard Yong, Founding Management and Group CEO of Ascentium, remarked, "We are pleased to expand in the GCC through the acquisition of Virtuzone, and we welcome them to the Ascentium group. Their expertise and commitment to excellence will bolster our organisation and drive us towards our strategic goals. Virtuzone's strong presence in the Middle East complements our existing capabilities, and together, we look forward to achieving new milestones and delivering exceptional value to our global clientele." Neil Petch, Chairman and Co-founder of Virtuzone, commented, "As global leaders in the corporate services industry, Ascentium embodies the core values that Virtuzone has upheld over the years, empowering businesses and delivering customer-centric solutions, transformative innovation, and unrivalled service excellence. By combining their business acumen with our local market leadership and expertise, I believe this new era will bring significantly greater value to our clients, partners and the communities that we serve." George Hojeige, Group CEO of Virtuzone, shared, "We are excited to join the Ascentium family, where our shared values and vision will drive us towards even greater success. The opportunities ahead for Virtuzone within Ascentium are truly promising, especially in expanding our reach in the Asia-Pacific region. Ascentium's global network and expertise will enrich our service offerings and allow us to deliver tailored solutions to our clients, further solidifying our position as a leader in the corporate solutions sector." Founded by Zhang Lei in 2005 with initial investor capital from the Yale University Endowment, Hillhouse is a leading diversified asset manager with strategies across equities, credit, and real assets. The firm manages capital for global institutions, including non-profit foundations, endowments, and pensions and has a proven track record of completing large complex transactions across more than 30 countries. In line with the acquisition, Ascentium will provide additional resources to Virtuzone, enabling the Dubai-based company to expand its suite of corporate services, strengthen its local presence, and serve as a catalyst for Ascentium's expansion into the Middle East. About Ascentium Ascentium is a leading global business services platform dedicated to helping businesses scale greater heights. Headquartered in Singapore and backed by Hillhouse Investment, we empower extraordinary growth through specialised expertise across secretarial, finance, payroll, HR administration, family office, fund administration, GRC, and cross-border & FDI specialist services. Our team of 1,500 professionals spans 9 markets in the Asia-Pacific region, serving over 20,000 active clients across diverse industries. Through innovative, technology-enabled solutions and collaborative approach, Ascentium drives transformative growth, helping clients navigate complex global environments. For more information, visit: ascentium.com About Virtuzone Virtuzone is the UAE's first and largest company formation specialist and an award-winning corporate service provider. Established in 2009, we have set up the companies of more than 80,000 entrepreneurs from 180 countries. With over 250 staff members speaking 40 languages, we provide end-to-end company formation and corporate services, ranging from trade licensing and visa processing to bank account opening, tax consultancy, compliance, accounting, legal services, and more. We are part of Virtugroup, a Dubai-based holding company that comprises Taxready.ae, an FTA-certified tax and accounting firm; Next Generation Equity, which offers citizenship and residency-by-investment programmes; and MAKTABI, a world-class business centre located in the heart of Dubai. About Hillhouse Hillhouse Investment is a long-term investor focused on partnering with quality business leaders to help them grow their organizations globally. For almost 20 years, Hillhouse has worked alongside traditional businesses that have redefined their industries. Our goal is to establish alignment and build sustainable, forward-thinking companies that create lasting value for all stakeholders. Hillhouse is a full life-cycle private equity firm, investing for the long term across opportunities in the business services, healthcare, consumer, and industrials sectors. Operating an integrated platform spanning private equity, credit, real assets and public equity, the firm manages capital on behalf of global institutions such as non-profit foundations, endowments, sovereign wealth funds, and pensions. Media Contact Nancy So – Associate Director, Group Marketing, Ascentium nancy.so@ascentium.com
CHARLOTTESVILLE, Va., Jan. 21, 2025 /PRNewswire/ -- MicroAire Surgical Instruments, the global leader in power-assisted liposuction, is pleased to announce the acquisition of NEOSYAD, an innovative medical device company that developed a breakthrough technology for adipose tissue engineering. This strategic move reinforces MicroAire's commitment to advancing medical innovation and strengthening its leadership in the adipose tissue market. NEOSYAD recently received EU MDR approval for their AdiMate® device and Adipure® single-use kit. Thanks to its patented "all-in-one" concept and integrated proprietary software, AdiMate optimizes operating times by combining the infiltration, liposuction, and adipose tissue preparation (lipofilling) functions. The protocol integrated in the machine allows tissue purification in less than 10 minutes in a completely automatic way, while guaranteeing unmatched adipose tissue quality and viability. Strengthening MicroAire's Adipose Tissue Leadership MicroAire's PAL® handpiece is the #1 power-assisted liposuction device in the United States and a global leader among plastic surgeons. The acquisition of NEOSYAD marks a significant step forward in MicroAire's vision to strengthen its leadership in the global adipose tissue market. Jerome Barrillon, President of MicroAire, shared his enthusiasm for the partnership: "We are thrilled to welcome the NEOSYAD team into the MicroAire family. Their expertise, innovative products, and dedication to advancing adipose tissue technologies perfectly align with our mission to enable better patient outcomes and support plastic surgeons worldwide." Barrillon further emphasized the strategic fit: "NEOSYAD's advanced adipose tissue technology complements MicroAire's existing portfolio and will help us accelerate our vision of expanding our leadership in the adipose tissue market. Together, we are poised to deliver unparalleled value to our customers and drive innovation in this growing field." Regis Roche, NEOSYAD's co-founder and President, commented: "We are delighted to join forces with MicroAire, a company that shares our commitment to innovation and excellence in adipose tissue processing. This partnership represents a unique opportunity to scale our groundbreaking solutions and bring the benefits of AdiMate and Adipure to a broader global audience." Roche continued: "Our technology has already demonstrated excellent results in enhancing outcomes for patients, particularly in breast reconstruction procedures. By ensuring a higher quality of purified fat and significantly reducing operating times, we enable surgeons to perform procedures with greater precision and efficiency. Together with MicroAire, we aim to make these advanced solutions more accessible to patients worldwide, offering them a safer, more effective option for restoring their confidence and well-being." Media Contact:David KrausSenior Director, Strategy & Customer ExcellenceMicroAire Surgical Instrumentsdavid.kraus@microaire.com
GORINCHEM, Netherlands, Jan. 20, 2025 /PRNewswire/ -- In a groundbreaking step for the horticultural industry, ISO Horti—a specialist in horticultural robotics and automation—and TTA—experts in transplanting and sorting solutions—are merging. Operating under the name TTA-ISO, this partnership directly addresses the booming demand for automation in global horticulture and food production. Jan Bakker, CEO of TTA (left), and Martin Maasland, CEO of ISO (right) Meeting growing worldwide demand The international horticulture market is expanding rapidly. While this growth presents ample opportunities, the sector also faces urgent challenges such as labor shortages, stringent sustainability regulations, and rising quality standards. By combining their complementary expertise, TTA-ISO is better equipped to deliver cutting-edge automation solutions, including AI and robotics, helping growers worldwide adapt and thrive. New markets, strong growth outlook TTA-ISO envisions a promising future for horticulture, with annual sector growth projected at 8–10%. Leveraging their innovative tech and AI-driven vision solutions, they focus on expanding in the Americas, Middle East, and Oceania, while exploring opportunities in global food markets and the carbon and fiber industries. Unified R&D and innovation capacity This merger centers on bringing together R&D resources, accelerating automations to market, and offering clients a broader range of products and services. Greater innovation capacity will pave the way for customized solutions tailored to the customer's unique needs. Martin Maasland, CEO of ISO:"This merger empowers us to help our customers push boundaries, transform their operations, and achieve the extraordinary. By optimizing their processes and enabling more efficient use of resources, we're reducing waste and environmental impact—vital for the sector's future and a powerful opportunity to shape horticulture worldwide." Jan Bakker, CEO of TTA:"Bringing TTA and ISO together allows us to meet the surge in demand for innovative automation. Automation is the future of horticulture, and TTA-ISO is at the forefront of this movement. Our combined expertise helps growers worldwide increase productivity, improve yields, and grow more sustainably." Backed by Rabobank and Shareholders This merger is backed by Rabobank and existing shareholders, highlighting their trust in the vision and alignment of both organizations. Their support underscores confidence in TTA-ISO's potential for growth and success. Rooted in Dutch innovation and backed by a global team, TTA-ISO is primed to redefine the global horticulture and food production landscape, delivering high-impact automation solutions and setting new standards for a more efficient, sustainable future. More information: tta-iso.com.
DOHA, Qatar, Jan. 20, 2025 /PRNewswire/ -- Power International Holding (PIH), a globally recognized Qatari-based conglomerate, has officially completed the acquisition of a 100% participatory interest in Mobile Telecom-Service LLP (MTS) from Kazakhtelecom JSC. This acquisition follows the initial agreement signed on February 14, 2024, in Doha between PIH, Kazakhtelecom, and the sovereign wealth fund Samruk- Kazyna as well as the signing of the definitive sale and purchase agreement on June 4, 2024. MTS, known for its prominent brands Altel and Tele2, is the country's leading provider of ultrafast 5G connectivity. Established in 2004, MTS employs around 2,000 staff and operates over 140 retail stores. The company offers a comprehensive range of telecommunications and digital services, making it a cornerstone of Kazakhstan's telecommunications landscape. This financing was led by Citi and QNB as Coordinators, Bookrunners, and Mandated Lead Arrangers, with Halyk Bank JSCas a Mandated Lead Arranger, and ICBC Standard Bank Plc, Bank of Bahrain and Kuwait B.S.C, and Commercial Bank International PJSC as Arrangers." Mr. Ramez AlKhayyat President of Power International Holding, commented: "Power International Holding's telecommunications group is a key component of the Company's strategic growth. Through this acquisition, we aim to significantly contribute to the development of the telecommunications and technology sectors, offering innovative solutions that will enhance the digital experience in Kazakhstan and empower the digital transformation of the country. He added : "The closing of this transaction is an important step for us and marks the strong trust and confidence that renowned financial institutions have placed in us. With this acquisition, we are poised to further strengthen our expansion strategy, in the telecomunication and digital sector, in several countries of the world." QNB Group, the largest financial institution in the Middle East and Africa, the leader on the landmark transaction, has played a vital role in leading the conglomerate towards closing the deal. Mr. Abdulla Mubarak Al-Khalifa, QNB Group Chief Executive Officer commented: "We are proud to have played a pivotal role in facilitating the acquisition of Mobile Telecom-Service LLP by Power International Holding. This strategic financing not only underscores QNB's commitment to supporting key investments in the telecommunications sector but also demonstrates our dedication to fostering growth and innovation. We believe that this acquisition will enhance connectivity and drive economic development, aligning with our vision of empowering businesses." "We are delighted to have led this landmark acquisition financing for PIH in partnership with QNB. The transaction demonstrates Citi's unparalleled capabilities in emerging markets with on ground presence in Qatar and Kazakhstan, our industry expertise with telecom clients globally and Loans & Acquisition Finance structuring expertise to deliver a successful outcome." Ebru Pakcan, Citi Middle East and Africa Cluster and Banking Head stated. The acquisition inaugurates Power International Holding's expansion in Kazakhstan, achieving the company's active plan to diversify its investment streams. On this occasion Mr. Eyad Abdulrahim PIH Group Chief Finance and Investment Officer commented: "This acquisition marks a significant milestone for Power International Holding as we expand into Kazakhstan's rapidly growing telecommunications sector. The deal involved navigating complex regulatory and financial landscapes, requiring extensive collaboration and coordination with global partners. Securing funding through an international syndicate of leading financial institutions was a key part of the process, reflecting strong confidence in the our acquisition's long-term potential. We are committed to using this investment to enhance infrastructure, including the deployment of 5G technology, to improve service quality and delivering advanced communication solutions to meet the evolving needs of Kazakhstan's population" Mr. George Barakat, PIH Group Chief Treasury Officer, commented: "We are pleased to announce the successful completion of our leveraged buyout acquisition, marking a significant advancement in our strategic growth initiatives. The strong demand and support from both regional and international banks, resulting in an oversubscription of the financing, underscores the market's confidence in our strategic vision. The positive response from the banking sector further reinforces our financial strength and the trust placed in the Group's ability to execute complex transactions. About Power International Holding: Power International Holding (PIH) is a premier global enterprise headquartered in Qatar, recognized for its diversified portfolio and strategic contributions across 14 key sectors. With operations spanning Energy and Natural resources , Concessions power and infrastructure, Construction; Healthcare and Professional Services; Real Estate Development; Telecommunications, Media, and Technology; Agriculture and Food Industries; and Lifestyle. PIH is committed to driving innovation and delivering sustainable value worldwide. Supported by over 65,000 professionals representing 91 nationalities, PIH has successfully delivered more than 1,250 projects in 19 countries, shaping industries and advancing global development. Guided by its vision to create a brighter future from Qatar to the world, PIH upholds the highest standards of quality, resilience, and leadership in every endeavor. The group remains dedicated to fostering innovation, developing future leaders, and preserving its legacy of excellence. For more information, visit www.powerholding-intl.com About QNB Group: QNB Group is one of the leading financial institutions in the Middle East and Africa region and among the most valuable banking brands in the regional market. Present in over 28 countries across Asia, Europe, and Africa, it offers tailored products and services supported by innovation and backed by a team of over 31,000 professionals dedicated to driving banking excellence worldwide. About Citi: Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in more than 180 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services. Additional information may be found at www.citigroup.com | X: @Citi | LinkedIn: www.linkedin.com/company/citi | YouTube: www.youtube.com/citi | Facebook: www.facebook.com/citi
LONDON, Jan. 18, 2025 /PRNewswire/ -- Kantar Group, a leading, global market research company based in London and portfolio company of Bain Capital, has announced today the proposed sale of Kantar Media to H.I.G. Capital, a leading global alternative investment firm with $67 billion of capital under management. The contemplated deal will mark a new chapter for Kantar Media as it embarks on an exciting phase of growth and innovation, with a renewed focus on delivering cutting-edge insights to clients across the content and advertising landscapes. The proposed acquisition by H.I.G. Capital, a firm known for its hands-on approach and successful track record of accelerating business growth, comes at a pivotal moment for Kantar Media. The company, which operates in over 60 markets, is uniquely positioned to shape the measurement ecosystem with a broad portfolio of solutions that spans audience measurement and data analytics as well as media planning and validation. Kantar Media CEO, Patrick Béhar will continue to lead the business. "Over a year ago, I joined Kantar Media from Sky to accelerate the transformation of Kantar Media into an agile, technology-centric company, shaping the measurement industry through advanced cross-media solutions. This transaction would give us the resources and support to further accelerate our growth trajectory and strengthen our position as the global leader in media measurement and analytics. With H.I.G.'s expertise in scaling businesses and driving performance, we are more confident than ever in our ability to deliver innovative, data-driven solutions that meet the evolving needs of our growing client base all over the globe. Today is a fantastic moment for Kantar Media, its teams, its partners and its customers as we embark with H.I.G onto the next stage of our transformation". "We are excited to partner with Patrick and his talented team," said Nishant Nayyar, Managing Director at H.I.G Capital. "Kantar Media has a long-standing reputation for delivering essential data and trusted insights to the global media industry. We are confident that as an independent business under the leadership of Patrick, the company will continue to thrive and lead the way in media measurement and analytics innovation". Chris Jansen, Kantar's Chief Executive, added, "We set up Kantar Media to be operationally independent in 2023, to allow it to consolidate its global leadership position in audience measurement. Today's proposed partnership announcement with H.I.G. Capital positions Kantar Media to continue its investments in technological and geographical leadership and we wish Patrick and his team the very best for the future. Following the proposed sale, Kantar will be even more focused on helping both global and local brands to grow through a unique combination of IP, data assets, and increasing the rapid deployment of AI. Kantar remains the world's leading data and marketing analytics company." The transaction's purchase price of approximately $1 billion is anticipated to be primarily paid in cash, along with certain non-cash consideration, including separation-related investments by H.I.G. Capital, and an earn-out. Subject to customary legal and regulatory requirements and completion of information and consultation processes with employee representatives where necessary, the proposed transaction is expected to close later this year. J.P. Morgan and Jefferies acted as financial advisors to Kantar Group on the contemplated transaction. Morgan Stanley & Co International acted as lead financial advisor and ING acted as financial advisor to H.I.G. Capital on the contemplated transaction. About Kantar MediaKantar Media is a global leader in media measurement and analytics, providing clients with comprehensive insights into audience behaviour, advertising effectiveness, and media consumption patterns. With a deep understanding of the global media landscape, Kantar Media offers data-driven solutions that help brands, agencies and media owners optimize their marketing strategies and drive measurable results. About H.I.G. CapitalH.I.G. is a leading global alternative investment firm with $67 billion of capital under management.* Based in Miami, and with offices in Atlanta, Boston, Chicago, Los Angeles, New York, and San Francisco in the United States, as well as international affiliate offices in Hamburg, London, Luxembourg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro, São Paulo, Dubai, and Hong Kong, H.I.G. specializes in providing both debt and equity capital to middle market companies, utilizing a flexible and operationally focused/value-added approach. Since its founding in 1993, H.I.G. has invested in and managed more than 400 companies worldwide. The Firm's current portfolio includes more than 100 companies with combined sales in excess of $53 billion. For more information, please refer to the H.I.G. website at hig.com.*Based on total capital raised by H.I.G. Capital and affiliates. About Kantar Kantar is the world's leading marketing data and analytics business and an indispensable brand partner to the world's top companies. We combine the most meaningful attitudinal and behavioural data with deep expertise and advanced analytics to uncover how people think and act. We help clients understand what has happened and why and how to shape the marketing strategies that shape their future.
Applications Software Technology's deep US and UK public sector skills support clients' Oracle Cloud Application transformations ARMONK, N.Y., Jan. 16, 2025 /PRNewswire/ -- IBM (NYSE: IBM) today announced its intent to acquire Applications Software Technology LLC1, a global Oracle consultancy. Applications Software Technology brings deep expertise driving business transformations with Oracle Cloud Applications, including for clients in the public sector such as local government and K-12 education. - Public sector cloud transformations frequently face issues that include difficulty transitioning legacy systems, scarce skills or high security and compliance requirements. This acquisition will further enhance IBM's Oracle solutions to help clients across North America, the UK and Ireland address those complexities and drive lasting results in their digital transformations with Oracle Cloud Applications. It will build on IBM's 2024 acquisition of Accelalpha, expanding IBM's ability to help clients deploy, manage and drive value from their Oracle cloud solutions. "Public sector clients' cloud transformations often require a consulting partner with industry, domain and technology expertise," said Kelly Chambliss, Senior Vice President, IBM Consulting, Americas. "The acquisition of Applications Software Technology will boost IBM's public sector and Oracle Cloud Application skills to help clients confidently navigate their business transformations." Applications Software Technology's large team of consultants brings expertise across the Oracle Cloud Applications Suite, particularly around Oracle Fusion Cloud Enterprise Resource Management (ERP) including Enterprise Performance Management (EPM), Oracle Cloud Human Capital Management (HCM), and Oracle Fusion Configure, Price, Quote (CPQ), as well as Oracle Cloud Infrastructure (OCI), JD Edwards, and NetSuite. Applications Software Technology also brings expertise and partnerships with Salesforce and MuleSoft, specializing in public sector solutions and more. This acquisition supports IBM's open ecosystem approach which allows us to meet clients where they are, bringing together whatever technology and expertise are needed across our expanding partner ecosystem to solve the client challenge. Applications Software Technology has been an Oracle partner since 1996 and a leading provider of Oracle solutions covering areas like business process redesign and Oracle Cloud deployment. In addition to its strong public sector presence, Applications Software Technology also serves commercial clients in the manufacturing, energy and consumer packaged goods industries. "We are excited to join IBM and open up new opportunities for our people and expand transformative solutions to deliver business outcomes for our customers," said Justin Winter, CEO, Applications Software Technology. "Applications Software Technology and IBM have complementary capabilities, client relationships, service offerings and values around our people, innovation and commitment to client success. Together, we will continue to grow in the market for cloud transformation solutions." Headquartered in Lisle, Illinois, Applications Software Technology has teams across the US, UK, Canada and India. Notable past acquisitions contributing to its growth include Symatrix Limited, 9EDGE Inc. and Computer Technology Resources Inc. Applications Software Technology is currently a portfolio company of funds managed by Recognize Partners LP. Upon close, Applications Software Technology will join IBM Consulting. IBM and Oracle's partnership spans almost 40 years. IBM was named a Leader in the 2023 IDC MarketScape for Oracle Implementation Services Ecosystem Worldwide2. The acquisition is expected to close in the first quarter of 2025, subject to customary closing conditions and regulatory approvals. Financial details of the transaction were not disclosed. For more information on Applications Software Technology, visit https://astcorporation.com/ About IBMIBM is a leading provider of global hybrid cloud and AI, and consulting expertise. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Thousands of governments and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM's hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM's breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and consulting deliver open and flexible options to our clients. All of this is backed by IBM's long-standing commitment to trust, transparency, responsibility, inclusivity and service. Visit www.ibm.com for more information. Media ContactMichelle MattelsonIBM External Relationsmorrison@us.ibm.com 1 Applications Software Technology LLC refers to the four companies included in this acquisition: Applications Software Technology LLC, its subsidiaries 9Edge and Computer Technology Resources, and Symatrix Limited 2 IDC MarketScape: Worldwide Oracle Implementation Services 2023 Vendor Assessment (doc# US49837623, August 2023)
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