Industry News

Blancco Technology Group today announced it has hired Steve Holton, longtime SaaS industry veteran and top BlackBerry sales executive, as the company's first President and Chief Revenue Officer. In this role, he will have direct responsibility for developing sustainable and scalable revenue growth for the business. With over 20 years of experience selling B2B software solutions, Holton has created highly motivated, inspired and..."/>
Blancco Technology Group Hires Steve Holton as Company's First President and Chief Revenue Officer
Mahanagar Gas Ltd.. The unit of Larsen and Toubro Ltd saw its IPO subscribed 3.58 times at 5 pm on Tuesday, data from NSE showed. L&T Infotech has fixed a price band of Rs.705-710 per share for the offering, its filing stated."/>
L&T Infotech IPO subscribed 3.68 times on Day 2 [Mint, New Delhi]
Synnex Corp. for $420 million, Synnex said on Monday. Synnex, a Fortune 500 corporation, will integrate Minacs into its wholly owned subsidiary Concentrix."/>
BPO firm Minacs sold to US-based Synnex for $420 million [Mint, New Delhi]
Triumph Group will lay off 99 employees at its Structures-Everett facility effective Sept. 30, according to information filed with the state Employment Security Department. Triumph, based in Berwyn, Penn., has been a major supplier of fuselage panels for Boeing 747 s and announced last week plans to close its Everett facility around March 31.. In September, Boeing announced it would take over the work of building 747-8 fuselage panels from Triumph..."/>
Aerospace supplier Triumph cutting 99 jobs in Everett [The Seattle Times]
United Parcel Service fired an employee at its Maumee distribution center after investigating an image posted on Facebook purporting to show a noose hanging inside the facility. "UPS will not tolerate this demeaning workplace misconduct. The company has discharged the person responsible for this incident, "Susan Rosenberg, a company spokesman, said in a prepared statement Tuesday evening."/>
UPS fires Maumee employee after noose photo appears [The Blade, Toledo, Ohio]
Barnes Group Inc., a Bristol-based aerospace manufacturer, announced Tuesday it's paying $136 million to purchase a molds business that develops and manufactures plastic injection molds for packaging, medical, consumer and automotive applications. Shares of Barnes jumped more than 3 percent Tuesday, closing at $36.09. Barnes Group will buy Adval Tech's molds business, known as FOBOHA, headquartered in Haslach, Germany."/>
Barnes Group To Buy German Molds Business [The Hartford Courant]
Globe Telecom Inc. and San Miguel Corp.. PLDT'S petition for certiorari and prohibition and application for a temporary restraining order was to stop PCC's review of the buyout of SMC's telecommunications assets,..."/>
Telcos seek TRO against review of P69.1-B deal [The Manila Times, Philippines]
Elbit Systems Ltd. has launched, at a press gathering at the Farnborough Airshow 2016 in the UK, its SPECTRO XR. This is the latest and most advanced electro-optic payload developed by Elbit Systems for Intelligence, Surveillance, Target Acquisition and Reconnaissance missions. SPECTRO XR is an ultra-long-range, day/night, multi-spectral electro-optical ISTAR system that provides 20 "payload performance in a 15" payload."/>
Elbit Systems launches long-range optic payload [Globes, Tel Aviv, Israel]
BARNES GROUP TO ACQUIRE ADVAL TECH'S MOULDS BUSINESS FOR CHF 133 M US-based aerospace and industrial manufacturing and service provider Barnes Group Inc. has entered into a definitive agreement to acquire Swiss mold-making specialist Adval Tech's molds business, the company said. FOBOHA focused on the development and manufacture of complex plastic injection molds for packaging, medical,..."/>
M and A Navigator: Deal pipeline –13 July
Volex plc has agreed to form a joint venture with a Taiwan-based manufacturer Joinsoon Electronics Mfg. Co. Ltd to engage in the development, manufacture and marketing of Volex-branded AC raw cables, the company said. According to the agreement, Joinsoon and Volex will form a joint venture holding company in Taiwan with a manufacturing facility located in Guangdong, China."/>
Volex Forms Cable-Making JV with Taiwan’s Joinsoon Electronics
Rentokil Initial plc has acquired US-based pest control and turf products distribution business Residex LLC for USD30m, the company said. The acquisition increases the scale of the company's existing pest and turf products business, which more than doubles in size. Rentokil Initial operates in more than 60 countries."/>
Rentokil Acquires US Pest Control, Turf Products Distributor Residex for USD 30m

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