A USD12 million fund infusion was received by Channel 1Q for it use to accelerate its development. The central marketplace for retailers and manufacturers, Channel IQ announced the raising of USD12 milion from Drive Capital.
Firm Management
CORRECTED: First Gulf Bank completes deal for Dubai First
The credit card business unit of Dubai Group was acquired by First Gulf Bank. CORRECTION: Corrections made on acquisition parties. First Gulf Bank, which is based in Abu Dhabi, announced the finalization of its acquisition of Dubai First.
Telecom Italia is selling off assets to raise funds
The assets it owns in Argentina as well as towers in Italy and Brazil are but some of the assets seeking Telecom Italia seeks to unload.
Jut secured Series B funding round worth USD20 million
Jut's big data software applications was the basis for the highly successful Series B financing round at USD20 million.
Coresystems completes Series A funding round
Coresytems raises USD15.5 million in its Series A funding round. Mobile cloud field service firm Coresystems recently announced the receipt of pledges amounting to CHF14 million or USD15.
Latest News
Due to high costs of operations and low returns, Woolworths opts to close down stores in Nigeria. Woolworths Holdings Ltd. , the food and clothing retailer from South Africa, announced plans for the closure of three of its stores located in Nigeria.
Due to net income decline, the world's biggest reinsurer Munich Re would do a share buyback program to be completed by April 30, 2014.
USD9 million was raised in Series A funding round for ImmunGene Inc. Biotechnology company ImmunGene Inc. is focused on the development of anti-body cytokine fusion technology therapy for oncological applications.
A Permira Funds portfolio company had purchased BestInvest for an undisclosed amount. UK wealth management and online investment service firm BestInvest announced it had agreed to be acquired by a portfolio company of Permira funds.
Former Netflix executive Ariel Tseitlin joins Scale Venture Partners as its newest venture partner. Former Netflix Director of Cloud Solutions Ariel Tseitlin would become one of the newest partners at Scale Venture Partners.
Renowned names in the wine industry join forces to create sales and marketing firm BCM Wineworks for the known brands of Bacchus Capital.
In a bid to trim its portfolio, Nestle had sold to North Castle Partners its interest in weight loss brand Jenny Craig.
All retail locations of video rental chain Blockbuster would be closed by January 2014, owner Dish Network said.
Some investors expressed discontent at the investment plans of giant phone maker Samsung Electronics.
