Kenya’s Twiga Foods has raised a total of $30 million from lenders and investors led by Goldman Sachs. Top American investment bank Goldman Sachs is the latest to acquire a stake in Kenyan start-up Twiga Foods following a Sh2.44 billion ( $23.75 million) deal that will help the agro-based firm spread across the country and Africa. The B2B food distribution company financed $6.25 million of the funding in convertible debt and $23.75 million in equity, classified as a Series B round. IFC, TLcom Capital, and Creadev joined Goldman on the…
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IBM reveals new plans to acquire Red Hat.
IBM is acquiring Red Hat, a major distributor of open-source software and technology, in a deal valued around $34 billion, the companies announced on Sunday. According to a joint statement, IBM will pay cash to buy all shares in Red Hat at $190 each. Shares in Red Hat closed at $116.68 on Friday before the deal was announced. The open source, enterprise software maker will become a unit of IBM’s Hybrid Cloud division, with Red Hat CEO Jim Whitehurst joining IBM’s senior management team and reporting to CEO Ginni Rometty.…
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