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14 minutes ago
- Yahoo
Switzerland's M&A Deal Surge Leaves Rest of Europe Behind
(Bloomberg) -- Switzerland is seeing a more than fivefold surge in mergers and acquisitions that's outpaced most of its European peers, giving bankers hopes for a lucrative payout this year. A Photographer's Pipe Dream: Capturing New York's Vast Water System Festivals and Parades Are Canceled Amid US Immigration Anxiety A London Apartment Tower With Echoes of Victorian Rail and Ancient Rome Princeton Plans New Budget Cuts as Pressure From Trump Builds The volume of takeovers targeting Swiss companies has jumped 465% to $16.7 billion so far this year, according to data compiled by Bloomberg. Private equity firms are particularly active, with Advent announcing late Sunday it has agreed to acquire Zurich-listed chipmaker U-blox Holding AG in a deal valued at 1.05 billion Swiss francs ($1.3 billion). Switzerland's wave of dealmaking comes against a backdrop of macroeconomic challenges. Swiss companies are now facing a potential hit to revenues after the US unexpectedly imposed a 39% tariff on imports from the country. The levy is the highest in the developed world and prompted various Swiss companies from small to large to look at ways to lower the impact. The country's openness to foreign investment has helped drive inbound deal volume, as it doesn't have the restrictions that some other European nations have, according to Tino Gaberthüel, who heads the corporate and M&A practice at Zurich-based law firm Lenz & Staehelin. 'There is a high interest in Switzerland's mid-cap players that run cost efficiently, but may not have a globally critical size,' said Vincent Thiebaud, head of Swiss investment banking at Jefferies Financial Group Inc. Swiss firms themselves are also on the lookout for new technologies and for entering new markets or cementing their footprint in existing ones, said Reinout Boettcher, JPMorgan Chase & Co.'s head of Switzerland investment banking. 'The Swiss M&A market has historically been strongly influenced by outbound activities, also because Switzerland has a large number of leading global companies that want to strengthen their positions,' Boettcher said. Domestic Champion Mergers of domestic companies, on the back of a strong Swiss franc and the needs to boost returns, are also driving Swiss dealmaking. In April, Helvetia Holding AG agreed to combine with Baloise Holding AG to form the country's second-largest insurance group, marking the biggest announced deal in Switzerland this year. OC Oerlikon Corp. in May signed a deal to sell its Barmag textile machinery business to domestic rival Rieter Holding AG. Firms like Basel-based Novartis AG have been seeking growth abroad, with the drugmaker agreeing this year to deals for US biotech companies Regulus Therapeutics Inc. and Anthos Therapeutics. Meanwhile, Swiss tech reseller SoftwareOne Holding AG recently completed a takeover of Norwegian rival Crayon Group Holding ASA. 'As decision-makers adapt to the 'new normal,' we observe a renewed focus on harnessing the M&A toolkit to achieve strategic objectives,' said Julian Herriger, head of investment banking for Switzerland at Citigroup Inc. 'Swiss companies, equipped with solid balance sheets, a strong acquisition currency and a track record of effectively navigating cross-border complexity, are well positioned to build on this momentum.' Some Swiss companies are under pressure to simplify their operations to revive growth and boost profit margins. ABB Ltd., which has a $123 billion market value, is looking to spin off or sell its robotics unit, while Nestle SA has announced plans to separate a water business that's home to brands like Perrier, and Acqua Panna. 'We see positive activity in Switzerland including in the large-cap segment,' said Jens Haas, head of investment bank Switzerland at UBS Group AG. 'It is largely focused on transactions with a perceived high certainty of success, like breaking up conglomerate structures via spinoffs or divestitures.' Deutsche Bank AG expects the industrial, health care and financial services sector to remain hotspots for further deal activity in the second half of the year. 'We have naturally become an increasingly important address for many European topics for our clients,' said Urs Raeber, head of investment banking coverage and advisory at Deutsche Bank in Switzerland. (Updates with details of outbound deals from ninth paragraph.) Foreigners Are Buying US Homes Again While Americans Get Sidelined What Declining Cardboard Box Sales Tell Us About the US Economy Americans Are Getting Priced Out of Homeownership at Record Rates Living With 12 Strangers to Ease a Housing Crunch Bessent on Tariffs, Deficits and Embracing Trump's Economic Plan ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
14 minutes ago
- Yahoo
Infineon finalises $2.5bn acquisition of Marvell's Automotive Ethernet unit
Germany-based chipmaker Infineon Technologies has completed the purchase of Marvell Technology's Automotive Ethernet business for a total of $2.5bn in cash. The deal, initially announced in April this year, has now cleared all regulatory hurdles. This strategic move bolsters Infineon's capabilities in the burgeoning market for software-defined vehicles (SDVs) and enhances its standing in the automotive microcontroller sphere. According to Infineon, ethernet technology is instrumental in facilitating swift and efficient data transfer among various vehicle components. It is particularly critical for the functionality of SDVs. By integrating Marvell's Automotive Ethernet offerings, which include PHY transceivers, bridges, and switches, Infineon aims to deliver a robust suite of solutions to its clientele. These products are essential for the underlying communication systems in SDVs, offering networking capabilities that range from 100Mbps to 10Gbps, along with the requisite security and safety features. The acquired business boasts a design-win pipeline projected to be worth approximately $4bn by 2030, and it is anticipated to generate revenues between $225m and $250m this calendar year, with a gross margin near 60%. Infineon has financed this acquisition through a mix of readily available funds and new debt, with financial backing secured from banking institutions. The company is poised to further develop its Ethernet business, fostering innovation and swiftly translating it into customer benefits. Infineon noted that a dedicated "Ethernet Solutions" business line has been established within its automotive division to centralise expertise in this area. Moreover, the acquisition is expected to reinforce Infineon's footprint in the US market, particularly in the realms of research and development activities. Marvell Technology CEO and chairman Matt Murphy said: 'Through relentless innovation and deep partnerships across the automotive industry, they've established a leadership position in this critical technology area. Infineon is the right company to take this business to the next level – with the scale, portfolio breadth, and customer reach to unlock its full potential. 'We're confident this move will create exciting opportunities for continued growth, and we look forward to seeing the team thrive as part of Infineon.' "Infineon finalises $2.5bn acquisition of Marvell's Automotive Ethernet unit" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
44 minutes ago
- Yahoo
Cardano and XRP Whale Activity Hits Multi-Month High Despite Recent Pullback
Bitcoin's drop to $114,600 during the early Asian session on Monday triggered a liquidation spree, but Cardano and XRP whales continued to accumulate despite the crypto market downturn. As the market corrected, XRP and Cardano are down 3.7% and 6.2% in the past 24 hours, CoinGecko data shows. "The recent correction from the last two weeks of exuberance is healthy for the markets,' Max Shannon, senior associate at Bitwise Europe, told Decrypt. On-chain data provides strong evidence for this contrarian trend. A look at Santiment's on-chain whale activity shows strong demand for both XRP and Cardano from large holders. The 50-day average of transactions worth $100,000 or more hit a five-month high for both cryptocurrencies in August. Corroborating this bullish outlook is the increase in high-net-worth investors' Cardano and XRP holdings over the past month, according to the platform. XRP wallets holding 1 million to 10 million tokens added 300 million to their portfolio, bringing their total holdings to 6.72 billion as of August 18. In the same period, ADA cohorts also accumulated 30 million tokens, bringing their total holdings to 5.55 billion. HYPE, SUI Lead Altcoin Losses as Ethereum Dips Under $4,300 At current prices, these outsized XRP and Cardano additions are worth $900 million and $27.3 million, respectively. XRP's year-to-date return hovers around 15%, showcasing the token's dominance. This strength is a result of the successful conclusion of the SEC vs. Ripple lawsuit and favorable regulatory developments. 'In recent months, XRP's performance has been shaped by two opposing forces: regulatory clarity and renewed supply concerns due to the release of 1 billion XRP tokens from escrow,' John Murillo, Chief Business Officer of B2BROKER, told Decrypt. The decline in the net taker volume, the difference between the taker buy and sell volumes, over the past four days, shows seller aggression is reducing. Still, XRP's price has produced a lower low. XRP Army Celebrates Being on 'Right Side of History' as SEC's Ripple Lawsuit Ends 'It signals that selling aggression is fading even as price trades lower - a classic bullish divergence,' Maarten Regterschot, Contributing CryptoQuant analyst, told Decrypt. A similar signal spotted in late July and early August catalyzed a double-digit rally for the token, explained Regterschot. Though Cardano's year-to-date performance is -24%, it has started to pick up steam over the past week after Grayscale's August 12 filing for a Cardano Trust ETF. Its relative performance against Bitcoin hit a four-month high last week, indicating a potential altcoin season scenario, where profits from Bitcoin and Ethereum move into altcoins such as Cardano and XRP, giving rise to explosive trends. Crypto Market Conditions 'Exceptionally Strong' as Bitcoin, Ethereum, XRP Advance Looking ahead, the market's trajectory will be determined by major macroeconomic events this week, which could cause altcoins to have muted performance, explained Shannon. Expectations of a rate cut had driven Bitcoin to an all-time high last week, but the odds of a 25-basis-point rate cut have since dropped from 90% to 85%, the FedWatch tool shows. According to experts who previously spoke to Decrypt, a successful peace talk that leads to the end of the Russia-Ukraine conflict and U.S. Federal Reserve Chair Jerome Powell's speech during the Jackson Hole symposium on Friday, confirming the September rate cut could provide the tailwind required for reigniting the bull run. 'A Fed rate cut is arguably priced in,' Shannon said, but cautioned that there is 'more downside risk' for the current market conditions if there are 'any surprises… it could be negative for crypto assets.'
