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Intel has announced its decision to sell a 51% stake in Altera to Silver Lake. This strategic move marks a significant shift in Intel's investment approach, aiming to enhance its focus on core business areas while partnering with a leading technology investment firm.
Intel is set to sell a majority stake in Altera for $4.46 billion. This move is part of the company's strategy to fund its revival efforts, signaling a significant shift in its investment focus.
Weskill has successfully raised an undisclosed amount in a pre-seed funding round, achieving a valuation of INR 40 Cr, with backing from high-net-worth individuals and strategic investors. The funds will be utilized to enhance its AI-driven product offerings and to pursue a strategic acquisition to bolster its market position.
AI cybersecurity firm Armis, co-founded by Yevgeny Dibrov and Nadir Izrael, aims to achieve over $1 billion in annual recurring revenue (ARR) within three years and plans an IPO in the next 12 to 24 months, contingent on market conditions. Under President Alex Mosher, who previously served as Chief Revenue Officer, Armis has grown from less than $20 million in ARR in 2021 to over $250 million today, employing around 850 people globally. The company’s recent acquisition strategy, totaling approximately $290 million for three firms in 12 months, reflects a broader trend of consolidation in the cybersecurity sector as firms prepare for public offerings.
Australian fintech firm Findi has acquired Bankit Services for AU$30 million, enhancing its merchant network to over 180,000 across 12,000 pin codes in India. This strategic move aims to improve financial inclusion by transforming merchants into local financial hubs, addressing gaps in service usage, particularly in underserved areas. The acquisition reflects a broader trend of consolidation in India's competitive fintech landscape, where scale is becoming essential for survival.
Saudi Arabia's space economy is projected to grow from $8.7 billion in 2024 to $31.6 billion by 2035, driven by a 12% compound annual growth rate. The space market, focusing on commercial services and infrastructure, is expected to rise from $1.9 billion to $5.6 billion in the same period, bolstered by increased investments and technological advancements. This growth aligns with the goals of Saudi Vision 2030, aiming to enhance the Kingdom's global standing in technology and innovation.
GXS Bank has acquired Validus Investment's Singapore unit to enhance its business banking services, with the deal expected to finalize by April 15. This acquisition includes Validus' customer base, technology, and loan portfolio, which has provided over US$1 billion in financing to SMEs since 2015. GXS aims to grow its SME loan book significantly and plans a full launch of its business banking services by the third quarter of 2025, focusing on partnerships with fintechs in Singapore and Malaysia.
ShopUp and Sary have merged to create SILQ Group, a B2B commerce platform connecting Gulf markets with emerging Asia, supported by a $110 million investment led by Sanabil Investments and Valar Ventures. The merger aims to enhance operational efficiency for over 600,000 businesses and facilitate integrated financial tools and logistics services. Afeef Zaman will serve as CEO of SILQ Group, while Mohammed Aldossary will lead SILQ Financial, focusing on expanding financing infrastructure and embedded financing capabilities.
Lenders have rejected the Reliance deal, while shareholders have voted in favor of it. This divergence highlights the ongoing tensions between financial institutions and investors regarding the future direction of the company. The outcome may significantly impact Reliance's strategic plans moving forward.
Industry Mergers & Acquisitions
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intel sells majority stake in altera to silver lake
20:26 14.04.2025
Intel sells majority stake in Altera for 4.46 billion dollars
17:31 14.04.2025
weskill secures funding to enhance ai-driven product offerings and market position
15:07 14.04.2025
Armis targets one billion in annual revenue ahead of planned IPO
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09:30 14.04.2025
Australian fintech firm expands in India with 19 million dollar Bankit acquisition
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09:25 14.04.2025
Olam to reduce debt with two billion dollar stake sale in agri unit
Saudi Arabia's space economy projected to reach 31.6 billion by 2035
07:37 14.04.2025
GXS Bank acquires Validus Singapore unit to enhance business banking services
07:18 14.04.2025
shopup and sary merge to create silq group with 110 million investment
07:10 14.04.2025
lenders oppose reliance deal while shareholders show strong support
06:02 14.04.2025
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