In a major strategic move, Shriram Finance Limited (SFL), a leader among India’s non-banking financial companies (NBFCs), has agreed to sell its subsidiary, Shriram Housing Finance Limited (SHFL), to global growth investor Warburg Pincus. The transaction, valued at Rs 4,630 crores, includes equity and convertible instruments of SHFL. Warburg Pincus will execute the purchase through […]
FCTI, Inc., a prominent nationwide provider of ATM solutions, has declared an extension and broadening of their longstanding partnership with 7-Eleven, Inc., the largest convenience store chain in the United States. This enhanced agreement aims to significantly increase FCTI’s presence and service offerings across 7-Eleven and Speedway-branded locations, boosting the number of ATMs from approximately […]
The Ministry of Investment of Saudi Arabia (MISA) has signed a strategic Memorandum of Understanding (MoU) with Ant International, a major move to facilitate and accelerate the business expansion of Ant International into the Kingdom. This collaboration was marked by a formal signing ceremony in Riyadh, attended by Mr. Eng Saleh Khabti, Deputy Minister of […]
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a foremost player in technology services and consulting, has announced a collaboration with Microsoft Corporation. Together, they are set to launch a suite of cognitive assistants for the financial services sector, namely Wipro GenAI Investor Intelligence, Wipro GenAI Investor Onboarding, and Wipro GenAI Loan Origination. Technology and […]
Heartland Group Holdings Limited (NZX/ASX: HGH), known for its significant presence in the financial services sector, has confirmed the completion of Heartland Bank Limited’s acquisition of Challenger Bank Limited from Challenger Limited (ASX: CGF). This acquisition marks a historic move as Heartland Bank becomes the first New Zealand registered bank to acquire an Australian authorised […]
Fulton Financial Corporation (NASDAQ: FULT), through its subsidiary Fulton Bank, N.A., has completed a significant transaction involving the acquisition of substantially all assets and the assumption of nearly all deposits of Republic First Bank, known as Republic Bank, from the Federal Deposit Insurance Corporation (FDIC). This major deal, which has received all necessary regulatory approvals […]
Pomelo, a pioneering consumer fintech company, has successfully closed a Series A funding round, raising $35 million. This investment is led by prominent venture capital firms Vy Capital, Founders Fund, and A* Capital. Additionally, the company announced a significant expansion of its warehouse facility by $75 million. These developments have increased Pomelo’s total equity capital […]
Burke & Herbert Financial Services Corp. (Nasdaq: BHRB) and Summit Financial Group, Inc. (Nasdaq: SMMF) announced they have secured all necessary regulatory approvals to finalize their merger of equals, previously announced on August 24, 2023. The deal, valued at approximately $371.5 million or $25.20 per share of Summit common stock, is based on the closing […]
SK Telecom (NYSE:SKM, “SKT”) has announced a significant partnership with Aptos Labs, Brevan Howard, and Microsoft to introduce Aptos Ascend, a comprehensive suite of institutional solutions for the global financial market. This collaboration marks a pivotal development in the financial sector, blending advanced technologies and extensive industry expertise to offer end-to-end solutions that promise to […]
MSCI Inc. (NYSE: MSCI), a prominent provider of critical decision support tools and services for the global investment community, has announced the completion of its acquisition of Foxberry, a London-based innovator in front-office index technology for investors. This acquisition, first announced on February 7, 2024, marks a significant step in MSCI’s strategy to deepen its […]