maker

Google To Buy Smartwatch Maker Fitbit For $2.1bn In Cash

November 3, 2019 3:16 pm

Alphabet Inc.’s Google agreed to buy smartwatch maker Fitbit Inc. for $2.1 billion in cash, a move that could shore up the internet giant’s hardware business while also potentially increasing antitrust scrutiny. Fitbit shares jumped 16%.

Google will pay $7.35 a share for San Francisco-based Fitbit, according to a statement Friday. That represents a 71% premium to Fitbit’s stock price before Reuters reported Google had made a bid on the company on Oct. 28. The acquisition is Google’s second major purchase this year, after it agreed to pay $2.6 billion for cloud software provider Looker in June.

The deal is

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Indomie Maker, Tolaram, To Build Regional Port In Lagos

October 22, 2019 1:55 pm

The Tolaram Group, maker of Indomie Noodles, is building the biggest port in West Africa on the east side of Lagos with $1bn facility from China, according to the Financial Times.

A report in Financial Times on Tuesday said the Singapore-based company was set to close financing this week for what could be the busiest port in West Africa sub-region, which would help transform Africa’s largest economy.

The port, the biggest development ever undertaken by Tolaram, the report said, “is being built on the back of a $450m annual business that has turned Indomie noodles into one of Nigeria’s national …