Middle East

TMF Group acquires Indonesian payroll firm Tass Axia

Amsterdam, Netherlands-based business services provider TMF Group acquired Jakarta, Indonesia-based payroll and HR administration services provider PT Tass Axia Solusi for an undisclosed amount to expand its client base.

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US venture capital firm Rise Capital to raise $146M to back startups in emerging markets

San Francisco, US-based venture capital firm Rise Capital is set to raise $146 million to back startups in Africa, South America, and other emerging markets.

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Indian speech-based software solutions provider Uniphore grabs funding from angel investors

Chennai, India-based local language speech-based software solutions provider Uniphore Software Systems grabbed an undisclosed amount of funding from angel investors Indian Angel Network, Ray Stata, and YourNest Angel Fund for its international expansion.

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German startup Changers closes $1.5M in Series A round to reward people who generate solar power

Berlin, Germany-based solar energy startup Changers closed $1.5 million in a Series A funding round led by state-backed fund BFB Frühphasenfonds Brandenburg to turn solar power creation into a rewarding game.

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Singaporean data analytics firm Crayon Data secures INR7.3 crore for expansion

Singapore-based data analytics firm Crayon Data secured INR7.3 crore in a venture round from Jungle Ventures and Spring Seeds Capital for its expansion into the US, UK, Middle East, and China.

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Still meager private equity investments in Middle East markets- report

The Middle East private equity market looked promising in the past decade but investments have trickled in the past year according to Dealogic data, Financial News reported.

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US trucking and shipping firm Momentum Transportation acquires JIX International Freight Services

Jacksonville, US-based domestic trucking and international shipping firm Momentum Transportation USA Inc acquired JIX International Freight Services for an undisclosed amount to expand its worldwide operations.

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Babcock International Group adds Oman-based training institute

London, UK-based engineering and support services firm Babcock International Group added Oman-based oil and gas training organization National Training Institute (NTI) for an undisclosed sum to extend the latter's training services to the UK.

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US clothing firm Cherokee acquires Tony Hawk brand for $19M

Van Nuys, California-based apparel brand licensing firm Cherokee Inc acquired the Huntington Beach-based clothing brand of legendary skateboarder Tony Hawk in a deal valued at $19 million in cash.

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Dubai's Arabtec denies Depa stake hike plans

Dubai-based construction company Arabtec Holding had no plans to up its stake in interior contracting firm Depa, according to a statement made by Arabtec to Dubai's bourse.

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German private equity firm Nordic Capital secures $4.8B for eight buyout fund

Frankfurt, Germany-based private equity firm Nordic Capital said on Friday it has raised €3.5 billion ($4.8 billion) for its eight buyout fund amid decreased volatility in Europe.

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US law firms Patton Boggs and Locke Lord call off merger talks

Washington-based international law and lobby powerhouse Patton Boggs LLP has ended merger discussions with Texas-based law company Locke Lord LLP, according to a joint statement on December 19.

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US-based firm Knewton lands $51M funding for global expansion of personalized education

New York-based innovative learning company EdTech has landed $51 million in a funding round led by London venture firm Atomico to take personalized learning on a global scale.

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Billionaires in the Middle East has $354bn - census data

A 2013 Billionaire census report by Wealth-X and UBS showed an increase in the number of millionaires in the Middle East, and that amount of wealth hold by Middle Eastern billionaires topped any other region in the world.

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UK investor Vitruvian raises USD1.6 billion in fundraising for second fund

UK-based independent private equity firm Vitruvian Partners closed USD1.6 billion (EUR1.2 billion) in a fundraising round for its second fund, the Vitruvian Investment Partnership II (VIP II).

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