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Merger and Acquisition

Flour Mills of Nigeria Acquires First Bank of Nigeria Limited’s 5.06 Percent Stake in Honeywell Flour Mills

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Honeywell Flour Mill Factory - Investors King

Flour Mills of Nigeria Plc, Nigeria’s leading flour mill company, has acquired First Bank of Nigeria Limited’s 5.06 percent stake in Honeywell Flour Mills Plc.

The company disclosed in a statement signed by Umolu, Joseph A.O., Company Secretary/Director, Legal Services.

The acquisition was in addition to the 71.6 percent stake of Honeywell Flour Mills Plc (HFMP) FMN acquired on the same day. Therefore, Flour Mills of Nigeria Plc will now hold 76.75 percent equity interest in HFMP.

According to the company, the move will help build a resilient flour mills company that will ensure job continuity, deepen productivity and support national growth.

Commenting on the transaction, Omoboyede Olusanya, Group Managing Director of FMN, said “The proposed transaction is part of our global growth strategy, which is aligned with our vision to not only be an industry leader, but also a national champion for Nigeria in the Food and Agro-allied industries.”

“Given FMN’s parallel negotiations for both stakes culminating in the agreements being signed on the same date, the basis for arriving at key commercial terms including final equity price per share, will be the same. The price payable to FirstBank will be the same with Honeywell Group Limited.”F

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Merger and Acquisition

PowerDFI Acquires Nigerian Startup Naijacrypto to Impove BlockChain Transparency And Security

PowerDFI, a US-based blockchain company that redefines payments and enables the usage of tokenized assets, has acquired Nigerian-owned cryptocurrency exchange company Naijacrypto.

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PowerDFI, a US-based blockchain company that redefines payments and enables the usage of tokenized assets, has acquired Nigerian-owned cryptocurrency exchange company Naijacrypto.

The Nigerian cryptocurrency exchange startup expanded its offering into six new markets this year and also improved its presence in existing markets.

It is one of the few Nigerian cryptocurrency exchange platforms with its presence in the Caribbean, and has on several occasions indicated an interest in expanding to other Latin American countries.

Speaking on the recent acquisition, PowerDFI CEO Tim Webb said “Adding the work done by Naijacrypto to what we are building in PowerDFI fills out our technology suite to handle trillions in assets over the next decade.”

“We are set to lead the transition of the $57 trillion shadow banking market to the blockchain to improve transparency and security,”

Our combined strengths of being first in the market to allow the staking of physical assets using smart contracts on the blockchain and the integration of various yield mechanisms to be a leading fintech globally.” 

We’re also building a derivative platform on the blockchain to help businesses hedge against native currency and asset exposure risk to global markets,” Webb explained.

Also speaking on the acquisition, Naijacrypto CEO Chiagozie Iwu in an email to its users said;

“Harnessing its innovative blockchain technologies, PowerDfi also expects to lead the way in “bringing physical asset economic utility to the Blockchain.

This acquisition allows us to bring the future of financing vast amounts of critical assets to the blockchain. No other DeFi platform is making it possible for tokenized assets to be leveraged for staking, loans, and derivative creation.

Large amounts of equity can now be unlocked and unfrozen because of the PowerDfi platform and its staking and lending protocols.

At a time of job-cutting and freezing client funds in this sector, we’re creating a robust new platform that will drive asset financing on the blockchain globally.

PowerDfi’s acquisition of Naijacrypto is a fit-like-a-glove, synergistic arrangement in which the capabilities of each company perfectly meet the needs of the other”.

PowerDfi is the next phase of the DeFi evolution, and I am glad Naijacrypto and its entire team will have a front seat on this journey”.

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Merger and Acquisition

Adobe To Acquire Web-Based Design Platform, Figma in a Deal Worth $20 Billion

Figma announced it has entered into an agreement to be acquired by Adobe, the Co-Founder and CEO of Figma, Dylan Field said in a blog statement sent to Figma users. 

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Today, September 15, 2022, Figma announced it has entered into an agreement to be acquired by Adobe, the Co-Founder and CEO of Figma, Dylan Field said in a blog statement sent to Figma users. 

Figma is an advanced web-based graphic design tool that offers next-generation collaborative work on UI/UX prototyping. It is a robust application that enables you to create unique UX designs that are user-friendly yet professional. It was founded 10 years ago by Dylan Field and Evan Wallace.

The collaborative design platform has become key for many businesses in recent years.

Investors King gathered that Adobe offered approximately $20 billion in cash and stock for the leading web-based collaborative design platform. 

While Adobe is used to create, view, and annotate text among others, the combination of Adobe and Figma will usher in a new era of collaborative creativity.

According to Adobe in a press statement, “Together, Adobe and Figma will reimagine the future of creativity and productivity, accelerate creativity on the web, advance product design and inspire global communities of creators, designers and developers. The combined company will have a massive, fast-growing market opportunity and capabilities to drive significant value for customers, shareholders and the industry”

“Adobe and Figma share a passion for helping individuals and teams to be more creative and productive. With Adobe’s and Figma’s extensive product portfolio, the combined company will have a rare opportunity to power the future of work by bringing together capabilities for brainstorming, sharing, creativity and collaboration and delivering these innovations to hundreds of millions of customers”, the statement added. 

After the acquisition, Adobe will allow Figma to work autonomously and retain Dylan as Figma’s Chief Executive Officer (CEO). Dylan will however be reporting to David Wadhwani. David Wadhwani is the Executive Vice President and Chief Business Officer, Digital Media at Adobe Incorporated. 

 

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Merger and Acquisition

Mandiant Acquisition: Google Finally Acquires Mandiant For $5.4 Billion

Google has completed the acquisition of Mandiant, a publicly-traded American cybersecurity firm, in a $5.4 billion deal.

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Google has completed the acquisition of Mandiant, a publicly-traded American cybersecurity firm, in a $5.4 billion deal.

The leading global tech giant announced in a press release published on its Google Cloud Press Corner on Monday, September 12, 2022.

The new acquisition will see Mandiant operate under the auspices of Google Cloud, though the brand will continue to exist.

“We will retain the Mandiant brand and continue Mandiant’s mission to make every organization secure from cyber threats and confident in their readiness,” Google Cloud CEO Thomas Kurian disclosed.

Google’s promise to would-be customers is that it will keep all its data and infrastructure secure.

This means continually introducing new products to address the ever-changing threat landscape, though it sometimes means acquiring long-established incumbents with the expertise to bolster Google’s security proposition.

And that’s effectively what Google’s getting with Mandiant, giving it a major boost in terms of security data gathering capabilities, not to mention access to hundreds of security personnel.

Google and Mandiant share a long commitment to industry-leading security. Over the past two decades, Google has innovated to build some of the most secure computing systems in the world.

Google Cloud customers and partners benefit from these pioneering security capabilities including world-class threat intelligence, zero trust architecture, and planet-scale analytics for security operations.

Mandiant, which is known for delivering unparalleled frontline expertise and industry-leading threat intelligence, is a proven first responder to the world’s largest cybersecurity incidents.

The cyber security company services, delivered by their team of security and intelligence individuals spread across 22 countries, are widely recognized for helping top enterprises and organizations prepare for and react to cybersecurity incidents.

With this acquisition, Google Cloud and Mandiant will deliver an end-to-end security operations suite with even greater capabilities to support customers across their cloud and on-premise environments.

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