Plus   Neg

HHLA Buys 80% Stake In Automation Specialist ISAM AG; Terms Not Disclosed

Hamburger Hafen und Logistik AG or HHLA (HHULF.PK,HHULY.PK) Thursday said it is acquiring 80 percent stake in iSAM AG, a specialist in automation technology. The financial terms of the deal were not disclosed.

The remaining 20 percent of the company are controlled by its three previous managers. of the company. Both sides have agreed not to disclose the purchase

HHLA Chairwoman of the Executive Board, Angela Titzrath said the deal takes its growth- and innovation-focused strategy further.

iSAM AG currently employs 50 people. The company has subsidiaries in core markets in the USA, Australia (Asia) and Canada. iSAM was able
to grow its revenue and profit by 30 percent in 2020 despite Covid-19 restrictions.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. Food and Drug Administration is hastening its efforts to make available more at-home testing options in response to the ongoing COVID-19 pandemic. All At-Home Covid-19 Tests being used now are authorized only for emergency use, and not cleared or fully approved by the FDA. The recent granting of EUA for the Quidel Corp.'s QuickVue At-Home COVID-19 Test is one example. Dollar Tree Inc. (DLTR) Wednesday reported a profit for the fourth-quarter that climbed 309 percent from last year, while Wendy's Co. (WEN) posted a profit that grew about 46.0 percent from the prior year. Dollar Tree has increased its share repurchase authorization by $2.0 billion. Wendy's expects profit for fiscal year 2021 to be below analysts' expectations. Medical devices company Boston Scientific Corp. (BSX) agreed Wednesday to acquire the global surgical business of Israel-based Lumenis LTD from an affiliate of Baring Private Equity Asia (BPEA) for an upfront cash payment of $1.07 billion, subject to closing adjustments. Lumenis is a privately-held...
Follow RTT