Announcement Expected Soon; Board Meeting and Investor Call Scheduled for March 26
India’s second-largest commercial vehicle manufacturer, Ashok Leyland, is reportedly in advanced talks to acquire a majority stake in SML Isuzu Limited. Sources indicate that negotiations are progressing with Japan’s Sumitomo Corporation and Isuzu, and a formal announcement could be made soon.
Sumitomo currently holds about 44% of SML Isuzu, while Isuzu owns 15%. Together, their stakes are valued at approximately ₹1,350 crore. Reports suggest that Ashok Leyland may offer a 10-15% premium over SML Isuzu’s three-month average stock price.
The company has scheduled a board meeting on March 26, followed by a conference call with investors at 5:15 PM to discuss key corporate updates.
On March 25, SML Isuzu’s stock closed at ₹1,606 per share, with a market capitalization of over ₹2,300 crore.
While emails sent to Ashok Leyland and SML Isuzu remained unanswered, updates will follow if the companies respond.
This could mark one of Ashok Leyland’s biggest acquisitions in recent years, potentially reshaping India’s commercial vehicle market.
Young boys displaced by conflict in Syria stand in front of a shelter. Photo Courtesy: WFP
Rebel forces have taken control of the ‘majority’ of Syria’s Aleppo city, as per UK-based monitoring group Syrian Observatory for Human Rights (SOHR).
The governor of Aleppo and the leadership of police and security branches withdrew from the centre of the city, and regime forces and reinforcement escaped from the city to Al-Safirah area, read the SOHR website.
Triggering conflict, a rebel alliance launched a surprise attack this week.
It is the first time Syrian rebels have entered Aleppo city since the government forces regained control over the region during the 2016 Civil War.
By Saturday morning, rebel fighters had taken control of large swathes of the city, according to footage geolocated by American news channel CNN.
The rebels reportedly faced limited resistance from Syrian forces.
Several residents inside Aleppo told CNN that there has been minimal fighting in the city’s urban areas.
Kurdish forces have also expanded their control of some neighbourhoods of Aleppo, residents told the news channel.
As per Syrian Observatory for Human Rights website, a Russian fighter jet launched an airstrike with three missiles on military headquarters that included a group of members of the “Joint Forces” of the Turkish-backed “National Army”, on the outskirts of Marae’ City in northern Aleppo countryside.
The website claimed over 300 people died since the offensive started on Wednesday.
Armed conflicts have been going on in Syria since 2011.
Separate terror groups have been operating in various parts of the nation ever since the army liberated most parts of the country.
Ahmedabad 12th September 2024: Yudiz Solutions Limited, a leading IT services and product-based company, has acquired a 51.01% stake in ABCM App Pvt. Ltd., a fintech firm specialising in digital payment solutions. This acquisition marks Yudiz’s entry into the rapidly growing fintech sector and positions it as a key player at the intersection of fintech, gaming, blockchain and AI.
With this strategic move, Yudiz aims to enhance its service offerings by leveraging its expertise in blockchain and artificial intelligence to revolutionize financial services. By combining the technological strengths of both companies, Yudiz is set to drive growth in India’s dynamic fintech ecosystem and play a vital role in shaping the future of the digital economy.
Commenting on the acquisition, Bharat Patel, Chairman and Director of Yudiz Solutions Limited, said, “I have closely observed the fitness landscape in India evolve over the years. The pace at which financial services are becoming more accessible is truly unprecedented. At the Global Fintech Festival 2024, Prime Minister Narendra Modi highlighted how fintech has democratised financial services. At Yudiz, we are not just witnessing this revolution, but are actively contributing to it. Our collaboration with ABCM App reflects our commitment to creating secure, innovative solutions that meet global financial needs. Together, we are simplifying financial transactions while ensuring that these services are inclusive, empowering individuals across all socioeconomic backgrounds.”
The acquisition represents a huge step in Yudiz’s efforts to diversify and strengthen its offerings. ABCM App brings immense value through its proven fintech solutions, which, when integrated with Yudiz’s AI and blockchain expertise, will enable the development of cutting-edge financial products and services and capitalise on the burgeoning fintech sector.
ABCM App’s expertise in payment systems and financial technologies will complement Yudiz’s existing technological capabilities. Integrating fintech with Yudiz’s blockchain and AI solutions will provide a competitive edge, offering more secure, efficient and scalable digital financial services.
Santosh Purabia, Director of ABCM App Pvt. Ltd. said, “The collaboration with Yudiz Solutions opens up exciting possibilities for us. We are confident that this partnership will push the boundaries of fintech innovation, merging our digital payment solutions with Yudiz’s advanced technological capabilities. Together, we aim to set new standards in digital financial services, delivering greater value and convenience to users.”
The acquisition expands Yudiz’s service offerings within the fintech space and also reinforces its leadership position in the IT sector by expanding into areas critical for the future of digital finance. With a focus on fostering digital inclusion and supporting India’s growing fintech landscape, Yudiz is set to accelerate the adoption of secure digital transactions, particularly in underserved markets.
With the acquisition, Yudiz gains access to ABCM’s established fintech clientele, presenting cross-selling opportunities for its gaming, blockchain and AI solutions, and broadening its reach in both the financial and technology sectors. The collaboration will expedite the development of innovative solutions such as AI-driven financial analytics, blockchain-based payment systems and secure digital wallets. Yudiz is also positioned to introduce new concepts like gamified payment platforms and tokenised financial products.
The integration of ABCM’s resources, talent and technology with Yudiz’s infrastructure will drive operational efficiencies, streamline costs, enhance productivity, and enable rapid scaling across business verticals.
Moreover, the coming together of ABCM’s payment expertise with Yudiz’s blockchain and AI capabilities will contribute to India’s transition to a cashless economy. While AI will play a crucial role in personalising user experiences and improving security, blockchain technology will enhance transparency and trust in financial transactions. Together, they will address the growing demands of users for efficient, secure and user-friendly financial solutions.
The collaboration will also facilitate the creation of accessible fintech solutions, including micro-lending, digital wallets, and low-cost remittance services, particularly targeting underserved rural markets.
An assistant presents a smart home refridgerator by LG at the IFA Electronics show in Berlin, Germany September 2, 2016.REUTERS/Stefanie Loos
LG Electronics has acquired an 80% stake in Netherlands-based Athom, an industry-leading smart home platform company, a press statement said.
In the release, LG Electronics said that the company will acquire the remaining 20 percent stake in Athom over the next three years.
LG set to revolutionize smart home ecosystems
The South Korean firm also noted that this move aims to enhance LG’s connectivity within open smart home ecosystems, aligned with the company’s goal to lead the AI-driven home innovation era.
“The acquisition of Athom is a cornerstone for our AI home business. By leveraging the synergy between the two companies, we will expand our open ecosystem and external integration services, aiming to provide customers with more diverse and multidimensional space experiences,” said Jung Ki-hyun, executive vice president and head of LG’s Platform Business Center.
The press release further noted that LG is poised to significantly enhance the scalability required for implementing AI homes and aims to achieve the highest industry standards. This will be accomplished by integrating its LG ThinQ platform’s smart home technology with Athom’s open ecosystem and IoT device connectivity.
Athom to operate independently
The press statement further noted that Athom will continue to operate independently, maintaining its business operations and branding even after the acquisition. This strategy is designed to maximize Athom’s growth potential and unique strengths while fostering synergies in business, research and development capabilities, and platform utilization.
“LG is evolving into an intelligent space solutions company that connects and expands experiences in various living spaces. We will continue to make strategic investments to shift our business paradigm, as evidenced by our successive entries into platform-based appliance services and solutions such as the webOS advertising platform and AI home,” said William Cho, CEO of LG Electronics.
The smart home innovation sector is one of the most promising industries, which is expected to mark significant growth in the coming years.
According to market research firm TechNavio, the global smart home market is projected to grow from $81.2 billion in 2023 to $260.24 billion by 2028, with an average annual growth rate of 26.23 percent.
India dealing with 213 weekly ransomware assaults per organisation
About 50 per cent organisations fell victim to ransomware assaults in 2022, despite majority firms claimed that they have been ready to mitigate any assault, stated a brand new report.
The newest Global Ransomware Report by cybersecurity agency Fortinet has revealed that, despite 78% of firms believing they have been “very” or “extraordinarily” ready to counter ransomware assaults, about half of all organizations globally fell prey to such assaults in 2022.
This survey of 569 cybersecurity leaders from 31 areas worldwide demonstrated that the menace of ransomware stays at peak ranges, affecting companies of all sizes and sectors. Although most organizations detected assaults early, 4 out of the 5 prime challenges to stopping ransomware have been folks or course of associated.
Cyber assaultIANS
The report additionally highlighted that just about three-quarters of the organizations paid some type of ransom despite detecting the incident inside hours and even minutes. The report requires an pressing want to transfer past detection and deal with real-time response whereas implementing sturdy cybersecurity measures, together with Secure Email Gateway and Network Segmentation.
Additionally, built-in options or a platform have been considered as important by 99% of the respondents for stopping ransomware assaults.
According to the 2023 Global Ransomware Report by cybersecurity agency Fortinet, the worldwide menace of ransomware stays at peak ranges, with half of the organisations throughout all sizes, areas and industries falling victim in the final yr. The survey was carried out amongst others in the US, UK, France, India, and Japan, amongst others.
pixabay
“According to the Fortinet analysis launched at this time, although three out of 4 organisations detected ransomware assaults early, half nonetheless fell victim to them. These outcomes exhibit the urgency to transfer past easy detection to real-time response. However, that is solely half of the answer as organisations cited the highest challenges in stopping assaults have been associated to their folks and processes,” stated Vishak Raman, Vice President of Sales, India, SAARC and Southeast Asia at Fortinet.
Moreover, the report stated that 4 out of the 5 prime challenges to stopping ransomware have been folks or course of associated.
Despite most (72 per cent) detecting an incident inside hours, and generally minutes, the proportion of organisations paying ransom stays excessive, with nearly three-quarters of the respondents making some type of ransom cost.
Scarab ransomware distribution.Forcepoint
Specifically, one-quarter of assaults amongst manufacturing organisations acquired a ransom of $1m or larger, whereas nearly all organisations (88 per cent) reported having cyber insurance coverage, nearly 40 per cent did not obtain as a lot protection as anticipated and, in some instances, did not obtain any as a result of of an exception from the insurer.
While ransomware issues are excessive, practically all organisations (91 per cent) count on to increase their safety budgets in the next yr, despite difficult financial situations, the report stated.
Email Phishing
Since e-mail phishing remained the most typical methodology whereas it was encouraging to see respondents give larger significance to Secure Email Gateway (51 per cent) however, Sandboxing (23 per cent), Network Segmentation (20 per cent), and different vital protections remained low on the listing.
In addition, the report discovered that organisations utilizing level merchandise have been the most probably to fall victim and nearly all respondents (99 per cent) considered built-in options or a platform as important to stopping ransomware assaults.
Medi Assist Healthcare Services Ltd (Medi Assist), has announced its acquisition of a majority stake in Mayfair We Care (Mayfair), a UK based healthcare focused administration service provider with presence across the world. The partnership will allow Medi Assist to expandMedi Assist Healthcare Services Ltd (Medi Assist), has announced its acquisition of a majority stake in Mayfair We Care (Mayfair), a UK based healthcare focused administration service provider with presence across the world. The partnership will allow Medi Assist to expand
American private equity giant Blackstone on Thursday said it will pick up majority stake in digital services firm R Systems International for USD 359 million or Rs 2,904 crore. Blackstone has signed definitive agreements with Satinder Singh Rekhi and other promotersAmerican private equity giant Blackstone on Thursday said it will pick up majority stake in digital services firm R Systems International for USD 359 million or Rs 2,904 crore. Blackstone has signed definitive agreements with Satinder Singh Rekhi and other promoters
Twitter has fired the majority of its over 200 employees in India as part of mass layoffs across the globe ordered by its new owner Elon Musk who is looking to make his USD 44 billion acquisition work. Sources said theTwitter has fired the majority of its over 200 employees in India as part of mass layoffs across the globe ordered by its new owner Elon Musk who is looking to make his USD 44 billion acquisition work. Sources said the
Twitter has fired the majority of its over 200 employees in India as part of mass layoffs across the globe ordered by its new owner Elon Musk who is looking to make his USD 44 billion acquisition work. Sources said theTwitter has fired the majority of its over 200 employees in India as part of mass layoffs across the globe ordered by its new owner Elon Musk who is looking to make his USD 44 billion acquisition work. Sources said the
Ahmedabad 12th September 2024: Yudiz Solutions Limited, a leading IT services and product-based company, has acquired a 51.01% stake in ABCM App Pvt. Ltd., a fintech firm specialising in digital payment solutions. This acquisition marks Yudiz’s entry into the rapidly growing fintech sector and positions it as a key player at the intersection of fintech, gaming, blockchain and AI.
