Amazon buys robot-maker March 19, 2012 Amazon said yesterday it has agreed to buy Kiva Systems for $775m (£488m) in cash, a deal that will bring more robotic technology to the e-commerce company’s giant network of warehouses. The acquisition, which has been approved by Kiva’s stockholders, is expected to close in the second quarter of 2012, Amazon added in a statement. [...]
Revenue growth slows at Adobe March 19, 2012 Adobe, maker of Photoshop and Acrobat software, said yesterday that revenue growth has slowed as sales of its widely used Creative Suite software fell, missing its forecasts, ahead of widely anticipated product launches this quarter. Revenue rose 1.7 per cent to $1.045bn (£657m) in its quarter ended 2 March. Sales at the digital media unit [...]
ANALYST VIEWS: CAN BERKELEY’S BOOM CONTINUE DURING 2012? March 19, 2012 ROBIN HARDY | PEEL HUNT I’m quite surprised that the share price has been as weak as it has been. They’ve bought a lot of land while keeping their debt under control. People would have expected their debt to be north of £100m and it’s only at £84m. SIMON BROWN | NORTHLAND UK A doubling [...]
JUSTIN KING GOES THE EXTRA MILE FOR SPORT RELIEF March 19, 2012 SAINSBURY’S chief Justin King has been busy pounding the pavement in order to raise money for Sport Relief ahead of the Sport Relief Mile this Sunday. King, whose stores stock much of the Sport Relief charity merchandise, has run 32 miles across the UK in March in the hope of beating last year’s efforts for [...]
Ziggo IPO set to be biggest of year so far March 19, 2012 CABLE company Ziggo provided another boost to the slow recovery in Europe’s equity markets yesterday when it increased the value of its listing to as much as €925m (£768.6m). Holland’s largest cable firm said strong demand had prompted it to increase the number of shares available in its initial public offering in Amsterdam, which had [...]
Rexnord moves closer towards New York listing March 19, 2012 REXNORD Corporation, which manufactures power transmission and water management products, announced terms for an IPO on the New York Stock Exchange yesterday. The Milwaukee-based company plans to raise $450m (£283m) by offering 23.7m shares at a price range of $18 to $20. At the midpoint of the proposed range, Rexnord would command a market value [...]
Julius Baer chair severs 120 year old family ties March 19, 2012 WHEN Julius Baer set up a private bank in Switzerland in the 1890s, modern skiing had just emerged and Sir Arthur Conan Doyle would speed down the Alps in a tweed suit. Now, 120 years on, the Baer family has severed its link with the management of the bank. Raymond Baer has quit as chairman [...]
Bahrain buys GL Education March 19, 2012 Investcorp, a Bahraini alternative investment manager, yesterday said it acquired UK-based education firm GL Education Group for an undisclosed amount. Investcorp, which once floated luxury brands Gucci and Tiffany, said it bought the company from Veronis Suhler Stevenson, a private equity and debt capital firm focused mainly on education, media and information sectors.
Tesco Thai property float soars March 19, 2012 The property fund of Tesco’s Thai unit jumped nearly 10 per cent in its trading debut yesterday as investors who were shut out of Thailand’s largest IPO in six years scrambled to get a piece of the high-yielding security. The IPO raised about £378.8m, the biggest in Thailand since 2006, but the supply of units [...]
Zayo agrees $2.2bn deal for AboveNet March 19, 2012 ZAYO Group, a privately-owned fibre-based provider of bandwidth, yesterday agreed to acquire AboveNet for $2.2bn (£1.38bn), after making an offer at $84 a share, 13 per cent above AboveNet’s previous closing price. But shares in AboveNet rose 14 per cent to $84.45 after the announcement, indicating investors expected a better offer. “AboveNet and Zayo’s business [...]