Tag: firm

  • NXP to buy Freescale, creates $40b firm

    NXP to buy Freescale, creates $40b firm

    Chip maker NXP Semiconductors NV has agreed to buy smaller peer Freescale Semiconductor Ltd and merge operations in a deal valuing the combined company at over $40 billion.

    The deal, announced by the pair late and first reported by Reuters, will make the business the industry leader within the auto and industrial semiconductor markets.

    The transaction is the clearest sign yet that semiconductor companies are regaining the confidence required to pursue big mergers and acquisitions at a time when their major clients, such as mobile phone manufacturers, seek to consolidate suppliers. Freescale also has its chips in consumer products such as Amazon’s Kindle e-reader.

    The deal is the fourth semiconductor sector M&A deal this year, and the biggest of these by far. Last month, Avago Technologies said it would buy wireless networking company Emulex Corp for more than $600 million, while MaxLinear said it would buy Entropic Communications Inc for $287 million. In January, Lattice Semiconductor said it would buy Silicon Image for $600 million.

    “Financially this deal make sense. By being bigger you limit the impact of the product cycles and volatile end markets,” said RBC analyst Doug Freedman.

    Freescale shareholders will receive $6.25 in cash and 0.3521 of an NXP share for each Freescale share. The purchase price puts Freescale’s value at $11.8 billion, with a total enterprise value of $16.7 billion including debt.

    The companies expect the deal to close in the second half this year. NXP will fund the transaction with $1.0 billion of cash from its balance sheet, $1.0 billion of new debt and about 115 million of its shares. Freescale shareholders will own about 32 percent of the combined company.

  • Firm to adopt coal gasification for 500Mw

    AN indigenous firm- One Nation Energy Platform Limited, in conjunction with a South African Technical partner -Stefani Saluti, is to adopt coal gasification in its generation of 500Mega Watts (MW) from coal in Enugu State.

    The Chairman of One Nation Energy Platform Limited, Chief Uzoma Obiyo, who known this in Abuja, explained that coal is available and accessible and could also be turned into clean fuel as there is now available technology for gasification of coal. He assured that there is a plan to apply such technology during this development.

    Obiyo submitted that the company has put measures in place to ensure that the project overcomes environmental challenges, noting that the firm has the required technology for clean energy.

    “I can assure you that we have the required clean energy technology to embark on this project,” he said, adding that his firm would ensure that there are no environmental hazards as soon as the projects  takes- off.

    He said that full assessments must be carried out to the letter, even as he insisted that his firm will ensure that all that is required to ensure the appropriate implementation of the project is done.

    It would be recalled that the firm had last week signed a Memorandum of Understanding (MoU) with the Federal Ministry of Power on the project.

    Although the project is planned for three years, it has already spent one of the years on feasibility study, he said.

    The chairman however told journalists at the weekend that with coal to power, the company will succeed in eliminating the challenges of vandalism that the sector is currently grappling with.

    Obiyo noted that “Coal should be a critical source of our power generation because unlike gas which has been our main source of power generation, the Federal Government and private sector, will not have to expand scarce resources on pipelines protection and repairs nor will we be at the mercy of the National Oil Companies for gas supply.”

    The company, he said, is partnering with the Federal Government in developing the coal sector to power generation and it has already commenced the implementation of its plan .

    According to him, the plant, what is planned to sell power to the entire South East, will boost the economic activities of places as Aba, Nnewi and other industrial parts of the zones.

    Obiyo said that the firm will market power to its customers in accordance with the electricity tariff that the Nigerian Electricity Regulatory Commission (NERC) has already put in place.

    He said that the company will use haulage, trains and other means of transportation to convey coal from their deposits to power plants.

     

  • Firm condemns PDP’s ‘smear campaign’ against PTF

    Firm condemns PDP’s ‘smear campaign’ against PTF

    A firm of management consultants, the Afri-Projects Consortium, has condemned what it described as a smear campaign by the Peoples Democratic Party (PDP) to discredit the achievements of the Petroleum (Special) Trust Fund (PTF).

    The firm, a PTF consultant for four years, said a statement credited to the Director of Media and Publicity of the PDP Presidential Campaign Organisation, Chief Femi Fani-Kayode, contained “irresponsible slander” against the firm and its director, the late Salihijo Ahmad.

    Fani-Kayode was quoted as saying that the late Ahmad was “the witness that could have nailed Buhari about the graft that took place at PTF…but died under mysterious circumstances.”

    The firm, in a statement by its partners, Alhaji Nuruddeen Rafindadi, Alhaji Murtala Aliyu, Mr. A. Dahiru and Amina Mohammed, said after painstaking investigations, Afri-Projects and its workers were never found to have behaved in an unprofessional manner in its dealings with the defunct PTF.

    It said contrary to Fani-Kayode’s claim, Ahmad died in Abuja on July 5, 1999 of complications from a long-standing heart ailment.

    The firm said members of PTF’s Board of Trustees were “persons of towering character and esteem”, including the All Progressives Congress (APC) presidential candidate Gen. Muhammadu Buhari, the late Mallam Yahaya Gusau, the late Alhaji Ahmed Talib, the late Chief Rufus Giwa, Prof. J. P. Clark, the late Prof. Chimere Ikoku, the late Chief D. B. Zang and the late Chief Tayo Akpata.

    It noted that after President Olusegun Obasanjo scrapped PTF in June 1999, he set up an Interim Management Committee (IMC), headed by Dr. Haroun Adamu, to wind it up.

    “The IMC went into a frenzy of investigation of the PTF operations and submitted a report in early 2000. That Haroun Adamu’s report, which is now being referred to, was a report lacking in credibility and undertaken with the pre-conceived notion of uncovering imaginary ‘sleaze’ by any means.

    “For instance, the committee report accused our firm of over-invoicing our professional fees, and recommended a refund, whereas we had charged an amount less than 1.5 per cent of the total value of PTF projects and programmes under our management, which is a very low charge by any professional fee standard.

    “In March 2000, President Obasanjo in disgust disbanded the Haroun Adamu-led committee for incompetence among other reasons.

    “Several hundreds of millions of Naira of public funds stolen from the PTF were actually recovered from some members of that committee. Indeed, there were indictments, court trials and convictions of the affected Haroun Adamu’s committee members,” the firm said.

    According to Afri-Projects, two other committees were set up to continue the investigation of the defunct PTF, and a final report was submitted by a former Police Affairs Minister Malam Adamu Waziri.

    “Not only were all our responses affirmed, but the government team also accepted the validity of our outstanding fees. Part of these fees was approved and subsequently paid.

    “The PTF certainly underwent some of the most rigorous investigations carried out on any agency, particularly with a fixed mindset to uncover ‘sleaze’ that was not there,” the firm said.

    It added that none of its workers was ever indicted for wrongdoing.

    “We wish to state that our firm, Afri-Projects Consortium, related with the defunct PTF in a professional and principled manner. We provided consultancy services spanning four years, involving over 350 highly skilled professional and support staff, at offices and sites located all over the country.

    “We discharged our services to PTF conscientiously giving our best and after its scrapping stayed around and engaged to give account of our services and we did so creditably and satisfactorily.

    “That was what our sense of duty dictated to us; it is what the late Salihijo Ahmad would have wished us to do,” the firm added.

  • Firm launches Innjoo brand of phones

    Firm launches Innjoo brand of phones

    InnJoo has unveiled its flagship Smartphone called “the ONE” at the Lagos Sheraton hotel, Ikeja, Lagos. And for the firm, the phone remains the biggest advancement in its product lineup, featuring a stunning 5.0-inch HD IPS display, and packed with an all-new dramatically thin and light design. The ONE has a glass surface, a 5.0’’ 720p HD IPS display, an Octa-core and InnUI.

    The managing director of the firm, Robert Liang, said: “We believe that emphasis on openness and participation is a big, big part of our journey, therefore, we listen to every word from our end users; we do the localisation and improve on every detail from hardware to software, working with the consumers ‘feedback.”

    He added: “Creating a flagship killer product is driven by the inner motivation and at Innjoo; we insist that users deserve the best device without a high price tag. And here we are today, just like our brand new slogan ‘Be You’, follow your heart and intuition and be you, you can go anywhere you want with the new Innjoo ONE smartphone,” he said, adding that  the phone finds network everywhere.

    He further state that “Until now, we have launched a series of software. Our InnCloud active users reached 2.2 million, InnBrowser active users reached up to 250,000 per week and two million InnStore apps were downloaded. It’s a superb progress in a short period. The growth of InnBrowser is about 20,000 per week. In addition, InnJoo launched the InnForum three months ago, which is the exclusive community for sharing latest news and collect feedbacks and voices from all InnJoo fans and it is committed to create an open and happy platform.”

    The Nation Shopping observed at the launch that the phone comes in brand new designs; entirely new in every way, with beautifully crafted metal frame and glass shield matching the 5.0-inch HD display perfectly. The compact internal component design ensures it dramatically thin, light yet powerful feature.It is sold for N27,999 only.

  • Firm launches new  curry sauce

    Firm launches new curry sauce

    A new sauce, Samurai Curry, has been launched in Lagos

    The distributor, Tokyo Boeki, said it will soon be in major shops across the country. The sauce can be eaten with rice, yam, porridge, noodles, spaghetti, and bread, among others.

    Chief Executive Officer of Tokyo Boeki, Mr Abel Akhigbe said Samurai Curry contains over 30 spices that are necessary for good health. They include black pepper (which stimulates appetite, digestion and circulation), cardamom (which relieves flatulence and induces sweating), cinnamon (which acts as a stimulant and detoxifier) and cumin (which also improves appetite).

    Others are fenugreek (which reduces fever, helps with acid indigestion and diarrhea), nutmeg (which has analgesic effects and acts as a sleep aid) and turmeric (which increases liver function, heals fatigue and acts as an anti-cancer agent.

    Akhigbe recalled a recent research finding that curcumin, used in curry, could help erase bad memories.

    The bright-yellow compound found in the root of the Indian spice turmeric, the study found, prevented new fear memories being stored in the brain, and also removed pre-existing fear memories.

    “Curry is widely considered a precious and nutritious health food because of the above spices. These spices are used in a traditional system of Indian medicine called Ayurveda, or Life Sciences, which incorporates them into a daily routine to assure a long and healthy life,” Akhigbe said.

    On how to prepare Samurai Curry, he said: “For 10 servings, for instance, cut lean beef, chicken, fish, etc into cubes. Chop onions finely and cut all the vegetables into bite-size pieces.

    “Heat oil and stir-fry meat and onions in a large frying pan until onions are lightly browned, approximately three minutes.

    “Add carrots, potatoes or other vegetables. Put the cooked meat and vegetables into a large pot. Add water and bring to the boil. Reduce heat, cover and simmer until meat is tender.

    “Break Samurai Curry cube into pieces and add them to the pot. Stir until completely melted. Simmer for five minutes stirring constantly. Serve hot over rice, yam, pasta, or noodles.”

    According to Akhigbe, cooking with curry originated in India under the administration of the British. The British obtained the recipes and took them back to England, from where it spread throughout the world.

    He added: “The spicy aroma of Japanese curry stimulates your appetite. It’s a dish that the Japanese just can’t get enough of. Statistics show that the average Japanese eats it more than once a week – 84 times a year.

    “The instant curry sauce has made it easier than ever for families at home to cook delicious curry by using Samurai instant Curry Sauce.

    “Samurai Curry manufacturer has created original curries rich in flavor by blending together over 30 spices carefully selected from about 80 spices around the world.”

    Akhigbe said each pack of Samurai Curry (for minimum of 10 servings) is sold at N800.

  • Firm gets leadership award

    TEASY Mobile Money International has received the 2014 Nigerian Mobile Money Customer Value Leadership Award initiated by Frost& Sullivan. It led the other 3,000 mobile money agents operating in the country.

    Licensed by the Central Bank of Nigeria (CBN), the firm provides a wide range of financial services, including, funds transfers, bill payments, airtime purchases and deposits and withdrawals, through the use of a mobile phone.

    Its product, Teasy Mobile Money, is an end-to-end mobile phone-based platform that allows users to have an electronic wallet (e-wallet).

    “Teasy International has built its position as a leader in the Nigerian mobile money industry, by introducing the first commercial NFC-based contactless payment solution in Nigeria. Teasy Tap and Pay has been considered as an electronic payment solution bridge between the world of microfinance and that of the traditional banking system.”

    John Weber, who spoke on behalf of the organiser, Frost & Sullivan, explained that the choice of Teasy International was based on the outcome of the report of the Frost & Sullivan analysts and industry experts which embarked on a global hunt for companies achieving dual excellence in two critical areas: Customer Value and Growth Success.

    According to the report, “Teasy International partnered with Verifone (a global provider of technology for electronic payment transactions and value-added services at the point of sale) to develop its own mobile money platform. To remain ahead of competitors, Teasy International added a new feature to its Teasy Tap and Pay solution, making it possible for it to be used as a mobile Point of Sale (mPoS) device.

    “It is a merchant payment service that allows customers to use their mobile phone to pay for goods and services at any PoS terminal, which accepts a NFC-enabled phone. It has converted Android and BlackBerry phones into mPoS devices through the Teasy Mobile Money App.

    “The Teasy Mobile Money solution also allows for the use of biometric data for secure user identification and authentication. This Biometric payment technology eliminates the need to carry cash, cheques or credit cards and removes any risk associated with theft, or a forgotten pin.

    “As an innovator, Teasy International is developing a new service as part of its platform called Cashless Campus. It has partnered with four universities in Nigeria to allow students to pay for their school fees and bus fares using the Teasy Tap and Pay App. Teasy International is in the process of partnering with every Nigerian university to extend this new service country wide.”

    At the beginning of last year, Teasy Tap and Pay accounted for an increase in customer’ satisfaction and has enabled the company to record a growth rate of 100 per cent as well as an increase in its customer base, through partnership with relevant stakeholders, including NURTW, which owns motor parks and bus stations in every state and village across Nigeria.

    These are used to place approximately 744 Teasy International Points of Sale (PoS).

    The Teasy Tap and Pay service also allows for fast payments from mobile wallets at the PoS, when an NFC-compatible mobile device is brought within a few centimetres of another NFC PoS-enabled device.

    In his remarks, Mr. Musa Ali Baba Managing Director of Teasy Money ascribed the feat to the cooperation between investors, board staff and alumni as well as business partners and boosters.

    He noted that decision of “Frost and Sullivan who found this obscure company and is bringing us to global attention,” will further help the company to grow its business.

     

  • Firm launches new website for affordable goods

    Firm launches new website for affordable goods

    AN international procure-ment and logistics company, Mannastores, has launched a new website www.mannastores.ng to sell original and quality goods at affordable prices for wholesale and retail traders across Nigeria.

    The Chief Executive Officer, MannaStores, Ayo Benson, made this known in a release made available to The Nation.

    According to him, Nigeria has never had it so good in terms of competitiveness of the market, especially in the retails arena which explains the company’s determination to give Nigerians world class products at affordable prices.

    He said the firm has been helping Nigerian businesses and individuals purchase original goods from the United Kingdom and United States for the past four years. “We are launching the new website to scale up our activities in the sale of original and quality goods at affordable prices- ladies bags, perfumes, shoes household items, and accessories.”

    He noted that his partnership with international reputable companies gives his company an edge, in terms of sourcing quality products at much reduced cost. He opined that the key factors for their low prices are their expertise in logistics, partnership with international companies and economy of scale.

    Benson advises that companies should put service before profit as this is the philosophy that has worked very well for his company. “We have a company policy of free delivery within Lagos as well as payment on delivery for customers’ peace of mind,” he said.

  • Firm inaugurates N1b headquarters

    Firm inaugurates N1b headquarters

    Courteville Business Solutions, yesterday inaugurated its new headquarters valued at over N1 billion in Lagos.

    Its Group Managing Director, Bola Akindele,  said the firm, quoted on the Nigeria Stock Exchange (NSE), is focused on process re-engineering in both the private and public sectors.

    The new headquarters, he said, would boost its operations, adding that the companyprovides cutting edge solutions to complex operational challenges.

    This, it does through the development and delivery of unique business solution models, revenue stream improvement and cost management processes.

    The launching of the building, from where it now operates, Akindele said, coincides with the firm’s 10th anniversary.

    “The new head office is a befitting architectural masterpiece with all the trappings of top corporate offices worldwide. The four storey building has so many features which include panoramic elevators, private lounge, water fountain in the lobby, existing facilities for branch banking and ATM galleries, a 60 person training facilities with modern training equipment, 36 CCTV cameras all wired, teleconferencing system at three different locations within the building and Biometric access control. The building and its content values in excess of N1 billion,” he said.

    Akindele said the new headquarters is ‘a thing joy for all the Courteville family’.

    “This is an indication that our business has grown tremendously in the last 10 years when we started the company. It is a thing of joy for all of us at Courteville to move into this new befitting new head office. Most importantly, it coincides with the 10th year anniversary of the company,” he said.

  • Firm trains 100 SURE-P interns on entrepreneurship

    s part of efforts to enhance the employability of at least 50,000 unemployed graduates in the 36 states of the federation and the FCT, the Federal Ministry of Finance in collaboration with SURE-P has sponsored a three-day capacity building training for graduate interns facilitated by Sinbol Consult Limited.

    Speaking at the commencement of the training, the Project Director, Mr. Peter Papka, represented by Mr. Kenayo Elikwu, said the aim is to address the problem of unemployment in Nigeria, adding that “the graduate internship opportunities is the first to hold in Nigeria and provides a platform for the reduction of vulnerability among unemployed Nigerian graduates.”

    According to him, the training was also expected to improve skills through work placement, prepare the interns for mobile money agents and ultimately equip them for self-employment opportunities in the cashless economy.

    Speaking further, he noted that the graduate internship scheme (GIS) is one of the interventions of SURE-P and it is a platform that provides young graduates with one-year temporary work experience to make them stronger candidates for job openings in the labour market as well as boost their chances of being self-employed.

    In his remarks at the training programme, Mr. Kemi Ajisebutu of Sinbol Consult Limited stated that other efforts that the GIS is using to drastically reduce unemployment include strategic partnerships in the area of export training, creative industries, environment, financial inclusion, agriculture, education and ICT.

  • Firm launches e-book

    A digital marketer of educational materials, Interworld Management and Services Limited, has introduced a device -World Book Digital product for private schools in Lagos State.

    The World Book encompasses e-books, select websites and other research documents that are updated regularly to avail students the latest information.

    The online product also contains 21 applications designed to make reference and research tools accessible to learning at all levels.

    Presenting the digital device at Corona School, Gbagada Lagos, Interworld’s Managing Director Mrs Omotayo Morgan, said the new innovation would enhance teaching and learning in schools.

    In the event themed: ‘New cost-effective digital tool for enhancing teaching and learning’ Omotayo,  said schools can access the facility as many times as possible, whether at home or in school through its school portal provided such school has subscribed to the portal.

    She advised principals to take advantage of the digital facility to boost academic performances amongst pupils.

    Chairperson, Forum for African Women Educationists (FAWE) Mrs Marie-Therese Sojinrin, who commended the initiative, admonished stakeholders to uphold research as a path to sound development in the country. She lamented that pupils are sometimes prevented from expanding their knowledge beyond what they are taught in classrooms. She urged parents to avail their wards computers to facilitate access to the portal.

    “When a pupil asks what the teacher doesn’t know, the pupil is turned down; when he answers beyond what the teacher knows, he is also marked down. Some teachers just copy what they have in their text book on the board for pupils to write down in their note book. This means that the teacher cannot even explain what is in the textbook.

    “Recently, the school certificate result has been below standard and majority of the comments made are that students do not internalise the topic that they were taught, they just regurgitate what they had been taught without having the ability to expatiate on it.

    She, however, suggested that lecturers should be encouraged to write books, which would be evaluated under strict supervision of the Nigeria Educational Research and Development Council before the public can access it.digital marketer of educational materials, Interworld Management and Services Limited, has introduced a device -World Book Digital product for private schools in Lagos State.

    The World Book encompasses e-books, select websites and other research documents that are updated regularly to avail students the latest information.

    The online product also contains 21 applications designed to make reference and research tools accessible to learning at all levels.

    Presenting the digital device at Corona School, Gbagada Lagos, Interworld’s Managing Director Mrs Omotayo Morgan, said the new innovation would enhance teaching and learning in schools.

    In the event themed: ‘New cost-effective digital tool for enhancing teaching and learning’ Omotayo,  said schools can access the facility as many times as possible, whether at home or in school through its school portal provided such school has subscribed to the portal.

    She advised principals to take advantage of the digital facility to boost academic performances amongst pupils.

    Chairperson, Forum for African Women Educationists (FAWE) Mrs Marie-Therese Sojinrin, who commended the initiative, admonished stakeholders to uphold research as a path to sound development in the country. She lamented that pupils are sometimes prevented from expanding their knowledge beyond what they are taught in classrooms. She urged parents to avail their wards computers to facilitate access to the portal.

    “When a pupil asks what the teacher doesn’t know, the pupil is turned down; when he answers beyond what the teacher knows, he is also marked down. Some teachers just copy what they have in their text book on the board for pupils to write down in their note book. This means that the teacher cannot even explain what is in the textbook.

    “Recently, the school certificate result has been below standard and majority of the comments made are that students do not internalise the topic that they were taught, they just regurgitate what they had been taught without having the ability to expatiate on it.

    She, however, suggested that lecturers should be encouraged to write books, which would be evaluated under strict supervision of the Nigeria Educational Research and Development Council before the public can access it.