CHINA REPLACES US

In the first seven months of 2020, China surpassed the United States to become the biggest trading partner of the European Union (EU), said Eurostat, the EU’s statistics organisation. While European companies have placed much confidence in the market of China, a country that has been continuously opening up and has become the only major economy projected by the World Bank to achieve positive growth this year, Chinese businesses have voiced their concerns over the overall business environment in the EU affected by the COVID-19 pandemic. SOURCE: Xinhua

JAPANESE FIRM BUYS SWISS CO.

Japan’s NEC has agreed to buy Switzerland’s largest software provider to banks for SFr2.05bn ($2.2bn) in its biggest foray into the global fintech space. The sale of Avaloq to the Japanese technology group ends a three-year investment by Warburg Pincus, which paid close to SFr300m for a 35 per cent stake in 2017. The private equity group now owns 45 per cent of the privately held group, with the rest in the hands of Avaloq’s founder Francisco Fernández and its employees. SOURCE: Financial Times

TESLA IS BUYER OF ATW

On September 25, Tesla agreed to acquire ATW Automation for an undisclosed sum. ATW Automation has about 120 employees… The original announcement by ATS did not name the buyer and said only certain assets would be sold and certain employees  transferred to a third party. But a person familiar with the transaction tells Automotive News that Tesla is the undisclosed third party. Reports of the sale were initially carried by trade news sources in Germany. SOURCE: Automotive News Europe

CANAL+ UPS STAKE IN SA

French pay TV operator Canal+ Group has taken a 6.5% stake in South Africa-based pay TV operator MultiChoice. The Vivendi-owned operator said its stake in MultiChoice Group had passed the 5% threshold requiring it to make its acquisition of a stake in the Johannesburg stock exchange-listed company public. Canal+ said that the move was a long-term financial investment and was a testament to the confidence it and its parent company Vivendi had in MultiChoice and the African continent. SOURCE: digitaltveurope.com

CZECH ACQUISITION FOR INFOSYS

Infosys said on Monday it has completed the acquisition of Czech Republic-based GuideVision, an enterprise service management consultancy specialised in offering strategic advisory, consulting, implementations, training and support on the ServiceNow platform. SOURCE: Business Standard