An article published on tech news site VentureBeat raises the question on the staying power of social media giants and Silicon Valley darlings like Facebook and Twitter.
Deals
Belgian biotechnology company sells drug discovery unit for EUR25 million
Brussels-based biotechnology company IBA concluded the sale of its drug discovery business unit to private equity firm Argos Soditic. IBA raised EUR25 million from the sale of Cisbio Bioassays.
CareFusion Corp enters agreement to purchase Vital Signs from General Electric unit for USD500 million
CareFusion Corp's acquisition of Vital Signs from GE Healthcare was considered strategic as the former aimed to expand its anesthesiology and respiratory care business while saving up to USD15 million in annual costs.
Investment in activist funds can be a high-stakes gamble - report
A Reuters report cautioned the risks involved in investing in activist funds like Pershing Square Capital Management because just as it can earn high returns, it could also result to massive losses.
RBS negotiates sale of equity derivatives business
British government-owned The Royal Bank of Scotland said it was looking to sell its retail investor and equity derivatives business. French bank BNP Paribas was identified as a front-runner to acquire the business unit.
Latest News
Bitcoing exchange BTC China received USD5 million in Series A investment from Lightspeed China Partners and Lightspeed Venture Partners to fund its general operations, but indicated plans to expand its business.
Oracle Corp made an announcement on its website via a redirect from Bitzer Mobile's site link that it had acquired the startup at an undisclosed amount to expand its business in the bring your own device (BYOD) market.
Ontario Teachers' Pension Plan, Canada's largest single-profession pension plan, said it would be buying British Burton's Biscuit Co. for an unspecified amount from the Canadian Imperial Bank of Commerce and affiliates of Apollo Global Management.
German investment firm DEG bought a stake in Kenyan Chase Bank worth USD10 million. Chase said DEG's investment will be used to finance their expansion, including the creation of new outlets.
Galaxy Entertainment Group Ltd, the second-largest casino operator in Macau, announced its intention to invest USD5 billion in Japan and China if the gambling markets open in those countries.
Terms of Frutarom Industries' definitive agreement to acquire Protein Technologies Ingredients (PTI) included an option to acquire the remaining 25% interest from minority shareholders in the next three years.
Russian business tycoon and politician Mikhail Prokhorov set to buy a 21.75% stake in the world's top potash producer, Uralkali, from the company's main owner Suleiman Kerimov.
Private equity firm Advent International made a cash offer of USD1.58 billion for Dutch business software maker UNIT4 NV in a deal that was recommended by UNIT4 to its shareholders.
CDC Group said they would be backing New Delhi-based renewable energy developer Green Infra Ltd with a USD 25 million investment to enhance the latter's production capacity.
