Elon Musk has confirmed that SpaceX and Tesla have established independent special committees to evaluate a potential combination of the two companies, sending SpaceX shares up 8% and Tesla shares up 1.8% in extended trading. Read: ASUS ROG Zephyrus Duo Review: Two-screen titan The official confirmation follows months of market speculation regarding an operational merger…
Kenya’s High Court has declared the government’s sale of a 15% equity stake in Safaricom to South Africa’s Vodacom Group unconstitutional, ordering the shares restored to the state. The ruling nullifies the December transaction that would have increased Vodacom’s controlling interest in East Africa’s largest telecommunications provider to 55%, while reducing the Kenyan Treasury’s holding…
Nvidia has agreed to acquire the open-source AI model repository Hugging Face for $12.9 billion, according to a report from The Information. The buyout marks one of the largest acquisitions in Nvidia’s history, signalling CEO Jensen Huang’s confidence that market demand for artificial intelligence infrastructure continues to accelerate. Securing Hugging Face gives the chipmaker strategic…
Shaping the future of hospitality software globally. (Image: Adapt IT) Today, Micros South Africa (Micros), an Adapt IT company, announced the strategic acquisition of Travel Trackers to join its ResRequest business, expanding its hospitality software portfolio. Travel Trackers, founded in 2010, is a provider of business intelligence and analytics for the guided African safari industry….
Payment processing giant Stripe and private equity firm Advent International are in active negotiations to acquire PayPal Holdings, according to The Wall Street Journal. The investor group is seeking a revised agreement after PayPal’s board rejected an initial $60.50 per-share takeover proposal in July that valued the digital payments pioneer at approximately $53 billion. Read:…
This strategic move strengthens HostAfrica’s service offering and marks the company’s entry into the Tanzanian market. Since its founding in 2016, HostAfrica has established a strong presence in South Africa, Nigeria, Kenya and Ghana. Tanzania becomes the fifth country in HostAfrica’s regional network, representing a key milestone in its mission to support digital entrepreneurship across…
iOCO has made its second acquisition in four months. (Graphic: Nicola Mawson | Official images) Having pivoted into profitability and resolved legacy issues stemming from its time as EOH, iOCO has announced its second acquisition in four months, buying South African enterprise resource planning (ERP) solutions provider Astraia Technologies. The deal follows iOCO’s purchase of…
iOCO CEO Rhys Summerton iOCO has struck its second acquisition in four months, agreeing to buy enterprise resource planning specialist Astraia Technology as CEO Rhys Summerton makes good on his promise to return the group to “serial acquirer” status. The JSE-listed technology group said on Friday it has entered into a binding agreement – signed…
The French media giant says the deal will strengthen MultiChoice’s operations across Africa and expand its international reach. French media company Canal+ has completed its acquisition of MultiChoice Group, making the African pay television company a full subsidiary of the global entertainment business. The development marks the end of a transaction that began in 2023…
Just days after its historic initial public offering (IPO), SpaceX has officially agreed to acquire AI coding startup Cursor in a massive $60 billion all-stock transaction. The agreement solidifies a fast-moving corporate courtship that began less than two months ago, with the deal projected to close in the third quarter of this year. Read: Meta…
