From who will lead Kyndryl to what types of engagement the company will focus on to how the solution provider community will be impacted by its split from IBM, here are five things we know about the company so far.
Beijing tightens the screws
Over the weekend, Chinese officials fined Alibaba a record $2.8 billion over antitrust violations. It was the biggest penalty yet as the Chinese government scrutinizes Jack Ma’s business empire and it served as a warning for the country’s other internet giants.
The fine was linked to Alibaba’s locking of merchants into its sales platform, according to the Chinese market authority, and vastly exceeds the agency’s previous largest fine, a $975 million antitrust penalty imposed on Qualcomm in 2015. A commentary published in the state-run People’s Daily minutes after the Alibaba announcement called such regulation “a kind of love and care.”
Read more about Microsoft in talks to buy Nuance Communications for about $16 bn: Report on Business Standard. Talks between Burlington, Massachusetts-based Nuance and Microsoft are ongoing and the discussions could still fall apart, the report added
Press release content from News Direct Corporation. The AP news staff was not involved in its creation.
Velocity Global acquires iWorkGlobal to accelerate remote work and global expansion platform; receives $100M growth investment from FFL Partners
April 6, 2021 GMT News Direct
Velocity Global, the leading provider of global expansion solutions, today announced its acquisition of iWorkGlobal, a wholly owned subsidiary of Gary D. Nelson and Associates, and a $100 million growth investment from private equity firm FFL Partners. The combined company, under the Velocity Global name, creates the largest U.S. domestic and global Employer of Record (EoR) and accelerates the future of remote work for companies around the world.
Press release content from Business Wire. The AP news staff was not involved in its creation.
SK Capital Partners Closes Acquisition of IPACKCHEM
April 6, 2021 GMT
NEW YORK (BUSINESS WIRE) Apr 6, 2021
SK Capital Partners, LP, a private investment firm focused on the specialty materials, chemicals and pharmaceuticals sectors, has completed its previously announced acquisition of IPACKCHEM Group SAS (“IPACKCHEM” or the “Company”), a leader in sustainability-oriented barrier packaging.
Founded in 1987 by Jean-Philippe Morvan as a division of Air Products Group, IPACKCHEM is a leading global supplier of innovative and specialized barrier packaging solutions. IPACKCHEM’s leading market positions in the Crop Protection and Specialty Chemical markets are further underscored by its commitment to providing 100% recyclable plastic barrier packaging. IPACKCHEM is headquartered in Paris, with global operations spanning seven countries and four continents.