Sears Holdings Corp, which had been selling and closing stores to turn around its business, will be spinning off its Lands' End clothing business. The spinoff will be through a pro rata distribution of the apparel retailer's shares to Sears shareholders.
Deals
Mobile app developer software Kidozen nabs USD5 million from Third Point Ventures
Kidozen, a maker of software designed to create custom-made mobile apps, received USD5 million to scale its business after emerging from private beta in February this year.
SunFarmer to build solar power project in Nepal with SunEdison grant
SunFarmer, a non-profit developer of solar power in impoverished areas, will construct its first solar power project in Nepal using a USD2 million grant from SunEdison Inc. SunFarmer is seeking donations to build 100 solar projects in the country.
Verizon to vote on USD130 billion Vodafone wireless deal early next year
Verizon Communications Inc. in September said that it will acquire Vodafone Group's 45% stake in their wireless joint venture. The American telco has set a shareholder meeting on January 28 to get investor approval for the deal.
Disney gains rights for future Indiana Jones films after Lucasfilm takeover
Following its USD4.6 billion purchase of Lucasfilm in 2012, Walt Disney Co. has secured marketing and distribution rights over future Indiana Jones installments under an agreement with Paramount Pictures.
Latest News
Oxford Instruments on Friday upsized its bid for Northern Ireland's Andor Technology to GBP525 per share. Andor Technology turned down Oxford's previous offer of 500 pence per share in cash.
Private equity firm Carlyle Group is mulling over an initial public offering or an outright sale of inorganic specialty chemicals producer PQ Corp. Sources said that the proposed deal could bring in USD3 billion.
Britain's Barclays PLC, Japan's Nomura and the Royal Bank of Canada are leading the loan financing for Hellman & Friedman LLC's buyout of Scout24. The classified advertising business will be bought for EUR700 million in debt funding.
American private equity firm Jordan Company has put up for sale its chemical management business Haas Group International. Sources estimated that the deal could be valued in between USD500 million to USD700 million.
Former Square Wallet technical lead David Byttow and former Google product manager Chrys Bader-Wechseler are raising USD1.2 million in seed funding for their new startup called Secret.
US-based mobile analytics and advertising company Flurry has secured USD12.5 million in new funding from undisclosed investors, bringing in a total funding of USD62.5 million to date.
Iceland-based global biosimilar company Alvotech announced plans to invest USD250 million to develop and manufacture biopharmaceutical products in partnership with its independent sister company Alvogen.
Sketchfab, the online platform that can publish interactive 3D models, was able to raise USD 2 million in a round led by venture capital firm Balderton Capital.
According to the UK-based "Global State of Enterprise Mobility for the Past, Present and Future" report, mobile apps could be the most invested-in startups in 2014.
