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Nexperia parent Wingtech to sell electronics arm
Economic Times
·
7m ago
Medial
Wingtech, owner of European chip maker Nexperia, plans to sell half its business to focus on chipmaking, affected by geopolitical changes and being added to the US entity list. The sale involves its electronics integration operations, including smartphone and appliance manufacturing. The buyer, Luxshare Ltd., is a Hong Kong-based company linked to an Apple supplier. Post-sale, Wingtech aims to become a leading global semiconductor company. No transaction price was disclosed.
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Related News
Chinese chipmaker Nexperia invests $200 million in European expansion
Economic Times
·
1y ago
Medial
Nexperia, a major semiconductor manufacturer, has announced a $200 million investment to expand its production capacity at its main site in Hamburg, Germany. The investment by Nexperia, owned by Chinese electronics company WingTech, comes without state subsidies and is a notable chip investment in Europe. This move coincides with the EU's investigation into unfair subsidies for legacy chips produced in China, potentially affecting Nexperia. The company is known for producing 100 billion chips annually, a quarter of the global supply, and specializes in wide bandgap chips that are used in electric cars and green energy systems.
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LG Electronics' India unit files for IPO
VCCircle
·
8m ago
Medial
LG Electronics' Indian unit has filed for an IPO, with its parent company planning to sell 101.8 million shares. The IPO is valued at $1.80 billion, making it one of the top five IPOs in India this year. The company, which sells washing machines and refrigerators, competes with Whirlpool of India and Samsung's India unit in the domestic market. Leading bookrunning managers for the IPO include Morgan Stanley, J.P. Morgan, BofA Securities, and Citi.
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Blinkit launches Sellers Hub for brands
YourStory
·
10m ago
Medial
Quick commerce platform Blinkit has launched Blinkit Sellers Hub, a platform that allows brands to sell their products directly on Blinkit without intermediaries. The move puts Blinkit in competition with established ecommerce platforms like Amazon and Flipkart. Blinkit's parent company, Zomato, has also recently increased the platform fee on its food delivery platform, signaling its focus on quick commerce growth. During the reporting quarter, Zomato's quick commerce arm doubled in size and added more dark stores and warehouses to support its expansion plans.
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Bigbasket eyes quick commerce for electronics with Croma tie-up
Livemint
·
1y ago
Medial
Bigbasket, a Tata-backed company, is in talks with sister company Croma to sell electronics and appliances through its quick commerce vertical. The aim is to offer customers fast delivery of various products, such as getting a washing machine delivered in 15 minutes. Bigbasket's quick-commerce arm, BB Now, leverages existing infrastructure to ensure orders are delivered in under 30 minutes. The quick-commerce sector in India has seen significant churn, but Bigbasket aims to achieve profitability by focusing on revenue per dark store and average order value.
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Exclusive: NEC spurned private equity offers before selling discounted stake in iPhone supplier, sources say
Reuters
·
1y ago
Medial
NEC, a Japanese IT services and software firm, received buyout offers from multiple global private equity funds for Japan Aviation Electronics Industry (JAE), an iPhone supplier, before agreeing to sell back a significant portion of its 51% stake at a discount. While the existence of these offers has not been previously reported, it could potentially create criticism for NEC and JAE regarding their failure to act in the best interest of shareholders. The Tokyo Stock Exchange and regulators are urging Japanese companies to improve governance and returns, including unwinding cross-shareholdings and "parent-child" listings.
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Chip-company boss says the idea of humans losing control of AI keeps him up at night
Business Insider
·
1y ago
Medial
Rene Haas, CEO of chip designer Arm, expressed concerns about humans losing control over AI. He emphasized that AI should have an override and a way to be shut down. Haas believes that AI will become integrated into every aspect of our lives in the next five to ten years. Arm designs chips for various devices, including smartphones and semiconductors. Softbank previously attempted to sell Arm to Nvidia, but the deal was canceled, and Arm went public with a valuation of $54.5 billion.
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CoinSwitch parent forays into equity trading with Lemonn
Livemint
·
1y ago
Medial
CoinSwitch parent PeepalCo has expanded beyond cryptocurrencies by launching its brokerage arm, Lemonn, to offer equity trading. The move is aimed at reviving the company's business following a downturn in the cryptocurrency industry. Lemonn plans to target underrepresented retail equity investors in India by providing a curated view of stocks based on sell-side analyst outtakes and industry-based curation of lesser-known stocks across sectors. Lemonn is expected to revive PeepalCo's fortunes after reporting an 82% decline in net revenue in FY23. The equity and crypto platforms will operate independently, with no cross-sharing of user data or operational overlap.
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Moroccan PE firm CDG Invest Growth to bet on electronics retailer
VCCircle
·
1y ago
Medial
CDG Invest Growth, the private equity investment arm of Moroccan financial institution Caisse de Dépot et de Gestion (CDG), is planning to acquire a significant minority stake in an electronics retail company. The Casablanca-based firm focuses on investing in small and mid-sized companies in Morocco. It intends to purchase a 30% stake in the electronics retailer.
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Zomato Block Deal: Antfin Singapore to sell $408M in shares
Inshorts
·
1y ago
Medial
Amid Zomato’s bull run on the bourses, Ant Group’s arm Antfin Singapore is reportedly looking to sell the foodtech giant’s shares worth $408 Mn (INR 3,422.84 Cr). As per a report by CNBC-TV18, Antfin Singapore intends to sell 13.6 Cr shares, or a 1.54% stake, via a block deal on Tuesday (August 19).
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Dream11 acqhires fantasy cricket stocks startup Sixer
Money Control
·
1y ago
Medial
Fantasy sports giant Dream11 has acquired Sixer, a Delhi-based fantasy cricket stocks startup. Dream11 backed the startup to help scale its offerings. Sixer allows users to buy and sell virtual stocks of prominent cricket players based on their performance. Dream Sports, the parent company of Dream11, declined to comment on the acquisition. This comes at a time when the Indian government has imposed a high GST (Goods and Services Tax) slab on player deposits, which may impact the growth of the sector. Dream Sports has previously invested in various sports, gaming, and fitness-tech startups through its corporate venture and M&A arm, Dream Capital.
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