Qualcomm to acquire UK's Alphawave for $2.4 billion
U.S. chipmaker Qualcomm on Monday agreed to acquire British semiconductor company Alphawave for about $2.4 billion.
Alphawave shareholders will receive 183 pence per share under the deal, a nearly 96% premium to its closing price before Qualcomm disclosed its interest in the company.
Qualcomm has also tabled an alternative share offers for Alphawave's shareholders.
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Time of India
an hour ago
- Time of India
Chinese beauty brands explore foreign M&A to spur growth
HighlightsProya Cosmetics aims to join the ranks of the top ten global beauty brands within the next decade, targeting annual revenue of at least 50 billion yuan ($7 billion) through acquisitions of established European brands. Chinese beauty companies such as S'Young and Ushopal are actively pursuing international acquisitions, having already expanded their portfolios with well-known foreign skincare and fragrance brands. Experts warn that while global acquisitions can diversify revenue streams for Chinese beauty firms, challenges remain in successfully managing and localizing foreign brands after acquisition. Some of China's top beauty brands such as Proya and S'Young are exploring acquisitions of smaller foreign rivals to expand their portfolios and replicate the success of global leaders like L'Oreal or Estee Lauder amid slowing growth at home. While still relatively unknown internationally, these Chinese brands have found significant domestic success, even capturing market share from global players. But a prolonged property crisis and concerns about wage growth and employment security have dampened consumer spending in China - posing new challenges to their continued growth. Proya Cosmetics ' founder, Hou Juncheng, said last month that the company's 10-year plan aims to position the firm among the top ten globally, a goal that would require an annual revenue of at least 50 billion yuan ($7 billion). To do so, the Hangzhou-based Proya plans "to acquire some European brands with history and technology", local media reports cited Hou as telling shareholders at a meeting. Proya, which specialises in science-backed skincare at mass market price points, became the first Chinese beauty player to surpass 10 billion yuan in annual revenue in 2024. In comparison, Japan's Shiseido, currently ranked tenth globally, raked in $6.9 billion and market leader L'Oreal generated over $45 billion in revenue last year. S'Young and Ushopal , two prominent Chinese beauty groups, have already made strides in international acquisitions. S'Young owns French skincare brand Evidens de Beaute and U.S.-brand ReVive, while Ushopal added French brand Payot to a portfolio that includes British skincare label ARgENTUM and French fragrance Juliette has a gun. William Lau, a partner at Ushopal, said the company plans to acquire one to two new brands annually. Analysts say buying foreign brands can help Chinese beauty firms diversify revenue streams and reduce reliance on the domestic market, but they also note that some similar efforts by Chinese fashion groups had missed expectations in the past. The beauty and personal care market is projected to generate a revenue of $677.19 billion globally in 2025, versus $41.78 billion in China, German data provider Statista estimates. Chinese brands are likely to target premium-positioned European skincare, fragrance or haircare brands with valuations under $500 million, said Gregoire Grandchamp, co-founder of Next Beauty China, who has advised Chinese groups on global deals. "In coming years, there will be a big Chinese company that will be the Chinese L'Oreal, Estee Lauder, Shiseido, or Amorepacific," Grandchamp predicted. GLOBAL M&A 'VERY DIFFICULT' Acquisitions have long been a growth strategy for beauty giants. L'Oreal's $2.5 billion purchase of Australian brand Aesop in 2023 added a premium, natural cosmetics brand to its portfolio, while Estee Lauder's $2.8 billion acquisition of Tom Ford in 2022 helped boost its array of high-end perfumes. Chinese beauty brands aim to borrow from this M&A playbook, but there are concerns about their ability to operate brands outside their home turf. In the fashion space, state-owned textile giant Ruyi once made headlines for snapping up foreign brands and touting its ambition to become "China's LVMH" only to see those international deals unwound by creditors in a few short years. But Ushopal's Lau says these challenges are not unique to Chinese groups, citing examples like Shiseido's buyout of Drunk Elephant to L'Oreal's purchase of some Chinese brands that struggled to meet expectations. "Global acquisitions are very difficult" in general and part of the problem is that companies often try to localise brands too quickly after a deal, he said. "One of the reasons you buy a brand is because it's an amazing brand, so if you then redo the entire DNA of the brand, what's the point of buying it?" he added. Mark Tanner, founder and managing director of Shanghai-based marketing and research agency China Skinny, said: "Opening doors to the Chinese market and capital injections, rather than a wholesale management takeover" are more likely to succeed.
New Indian Express
2 hours ago
- New Indian Express
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News18
2 hours ago
- News18
RCB Owners' Statement On Reports Of IPL Franchise's Sale: 'Like To Clarify...'
Last Updated: RCB's owners denied selling the IPL franchise. Royal Challengers Bengaluru's (RCB) owners, British distillery Diageo Plc through its Indian subsidiary, United Spirits Ltd., issued a statement after social media was abuzz with reports of sale of part or all of the Indian Premier League (IPL) franchise 'This has reference to your email communication dated 10th June 2025 seeking clarification from the Company on media reports in relation to potential stake sale of RCB. The Company would like to clarify that aforesaid media reports are speculative in nature and it is not pursuing any such discussions," United Spirits told the Bombay Stock Exchange and BSE Surveillance Department. Tragedy struck last Wednesday when approximately 2.5 lakh fans gathered in and around the Chinnaswamy Stadium in Bengaluru to catch a glimpse of their favourite stars, leading to a stampede that resulted in 11 fatalities and 56 injuries. Following the incident, A. Shankar and E.S. Jairam resigned from their positions as secretary and treasurer of the Karnataka State Cricket Association (KSCA), respectively, taking 'moral responsibility" for the tragedy. Meanwhile, Nikhil Sosale, marketing head of Royal Challengers Bangalore, was arrested on June 6. Former Indian Premier League (IPL) chairman Lalit Modi has strongly criticised the RCB franchise and the Karnataka state government for the tragic stampede. 'First and foremost, my condolences to the families of those who lost their lives in the stampede. This should never have happened. The entire event was poorly planned and executed," Modi told IANS. 'There is so much mudslinging and finger-pointing going on, but the issue is simple — the event should never have been allowed without proper arrangements in place. The authorities failed, and the team management should also have ensured fan safety before participating in the so-called celebrations." Modi criticised the event further, saying, 'The poor fans who died or were injured were simply passionate about the game and their team. They deserved better. This tragedy will haunt the RCB franchise and the players involved in the celebrations forever. Mark my words — even one death or injury is unacceptable. Heads must roll." He emphasised the need for accountability and prioritising fan safety, adding, 'The value of life and well-being of fans must be paramount. But sadly, it seems no one really cares. The government should have done far more to ensure the event was organised safely. We've seen major events across India handled successfully — why not this one?" (With inputs from Agencies)
