A.P. Moller – Maersk, an integrated logistics company, has acquired Martin Bencher Group, a Danish project logistics firm, for an enterprise value of around $61 million. The transaction is expected to strengthen A. P. Moller – Maersk’s project logistics services business. Founded in 1997, Martin Bencher is an asset-light logistics provider that specializes within non-containerised […]
Rheinmetall, a Düsseldorf-based technology group, has received a contract worth over €250 million from an unnamed German automaker. Under the contract, Rheinmetall will equip the automaker’s new 900-volt generation of electrically powered vehicles with new switchgear contactors beginning in 2025. Contactors are said to make switching electric vehicles on and off safe and assure riskless […]
Persistent Systems, an Indian multinational technology services company, has partnered with Microsoft in a move to enhance its capabilities and growth. Under the agreement, Persistent Systems will use Microsoft technologies for employee engagement, decision-making, and advanced industry solutions. The collaboration is expected to help Persistent Systems promote a data-driven mindset, modify business operations, and meet […]
Hero MotoCorp has delivered its first VIDA V1 e- scooter from VIDA’s Experience Center in Bengaluru, India, commencing customer deliveries of the electric vehicle. The Vida V1 is available in two variants – Plus and Pro, and comes with removable batteries and three-way charging options. The electric vehicle with a top-speed of 80km/h can accelerate […]
Baidu, an AI company, has received first-ever license to test drive fully driverless vehicles on public roads, with no driver or safety operator in the car, in Beijing, China. The approval is expected to help the Chinese multinational technology company launch paid fully driverless robotaxi service in China’s capital city after its success in Wuhan […]
Eve Energy, a battery technology company, has opened its CNY 2 billion ($290 million) research and development (R&D) center in Huizhou, Guangdong province, China. The 145,000-square-meter facility will test and analyze cylindrical and prismatic cells, apart from battery management and energy storage systems. Along with R&D labs as well as electrical performance and safety testing […]
Realty Income, The Monthly Dividend Company, will acquire up to 185 single-tenant retail and industrial properties from subsidiaries of CIM Real Estate Finance Trust (CMFT) in an all-cash transaction valued at around $894 million. Leased to 55 retail clients, the collective 185 property portfolio is estimated to include up to 4.6 million square feet of […]
Pony.ai, an autonomous vehicle (AV) technology company, will deploy driverless robotaxis in Beijing, China, following the approval from the capital city’s Intelligent Connected Vehicle Policy Pilot Zone. This permit marks the third stage of fully driverless autonomous testing for Pony.ai in Beijing. Under the new permission, the company will test 10 fully driverless L4 autonomous […]
Twig has acquired Vybe Technologies, a teen banking services provider in the UK, in a move to increase its market reach. The financial terms of the deal were not revealed by the London-based, new-generation fintech company. The latest transaction comes close on the heels of the acquisitions of UK businesses Loopster and Mobi.market. The acquisition […]
Sempra Infrastructure has signed a sale and purchase agreement with RWE Supply & Trading for the supply of liquefied natural gas (LNG) from the Port Arthur LNG project phase 1, which is under development in Jefferson County, Texas. RWE Supply & Trading is a subsidiary of RWE, while Sempra Infrastructure is an arm of US-based […]