In market-related news across Asian region, Hong Kong Exchange CEO said he was watching the LSE deal closely while IBM reported that it will sell shares worth $150 million in China’s Lenovo Group. HKEx CEO Li watching LSE-Deutsche Boerse deal closely Hong Kong Exchanges and Clearing Ltd (HKEx) is keeping a… Read more »
VC Roundup: Japan’s Mercari joins unicorn club; Israeli startup Deep Optics gets $4m; Kuaifawu closes $10m round
In significant venture capital fundraising in the Asian region, Japan’s buying and selling app for second-hand goods has become the country’s first pre-IPO startup unicorn after it raised $74 million at the valuation of over $1 billion. Meanwhile Israeli focal glasses startup Deep Optics has raised $4 million in its Series… Read more »
DreamWorks, which is in the middle of a turnaround, has been reducing its dependence on the volatile feature films business.
The industry has been trying to consolidate for years amid weaker trading volumes and shrinking margins.
The move comes after United Tech rejected Honeywell’s offer last week, saying any synergies from combining the companies would be outweighed by regulatory delays, required divestitures and customer concerns.
Blockchain investments are projected to reach $10 billion for 2016, as more banks and insurance firms explore the space.
Souq.com, which sells consumer electronics, fashion and household goods among others, said investors participating in the funding round included Tiger Global Management, Naspers, Standard Chartered Private Equity, International Finance Corporation and Baillie Gifford.
A late hitch to Foxconn’s takeover of Japan’s struggling Sharp Corp brought simmering distrust between the two close to boiling point, people with direct knowledge of the matter said.
Terex had reached a deal to be purchased by Finland’s Konecranes but has been considering an approach by Zoomlion. Last week, Terex urged the Chinese company to sweeten its $3.3 billion offer.
The sale comes amid a consolidation in the cyber sector and a decline in valuations of public and private cyber firms.