mergers and acquistions (M&A)

Winking Studios makes its largest acquisition yet.

Lesser deals made in the travel and tourism space this year amid a mixed-bag of trends in the industry.

Originally focused on back-end semiconductor manufacturing, including wire bonding and chip testing, GVT now also offers front-end services, a market said to be ten times larger than the back-end.

The acquisition is accretive and is expected to “yield significant opportunities”.

The addition is expected to grow the group’s taxi and private hire network to more than 34,000 vehicles globally.

The deal could be valued at US$1 billion to US$1.5 billion.

Rio Tinto Group has won board approval to buy Arcadium Lithium Plc in an all-cash deal.

The company’s board of directors add that “there is no assurance that a transaction will take place”.

Total deal value 102% higher than 2Q2023, as strong corporate governance and predictable politics boost appeal of city-state.

In the same period, M&A activity in Apac fell by 26% y-o-y to US$179 billion, marking an 11-year low.