Company briefs: Genting Hong Kong

Genting Hong Kong

Global cruise and resort company Genting Hong Kong has entered into an agreement to acquire Lloyd Werft, a shipyard in Bremerhaven, Germany.

The deal involves Genting investing €17.5 million (S$27.7 million) for 70 per cent of the new shipbuilding business and a 50 per cent ownership of the shipyard land.

Genting Hong Kong will complete the acquisition once certain final purchase conditions have been fulfilled.

"Lloyd Werft has already built and lengthened six ships owned by an affiliate of Genting Hong Kong and has the expertise to build a series of world-class cruise ships for the company, which will include the 'Exclusive Class' vessels for Crystal Cruises," company chairman and chief executive Lim Kok Thay said in a statement.

"Ownership in Lloyd Werft will enable Genting Hong Kong to leverage on the shipyard's technical expertise as well as its well-established and long track record in the shipbuilding industry."

Silverlake Axis

Software solutions provider Silverlake Axis is buying retail banking software and service solutions firm SunGard Ambit for US$12 million (S$16.8 million), it said yesterday.

The acquisition will help Silverlake Axis expand its software and services offerings and add more than 50 new customers to its base of around 150 customers, the company said.

It will also be able to extend its geographical reach to Eastern Europe, the Middle East and South Asia while building stronger market leadership in South-east Asia.

The acquisition is expected to contribute approximately 15 per cent to the revenue of the enlarged Silverlake Axis Group.

The investment will position Silverlake Axis to play a leading role in digital financial technology adoption and innovation across an expanded market space, said chief executive and group managing director Raymond Kwong.

A version of this article appeared in the print edition of The Straits Times on September 19, 2015, with the headline 'Company briefs: Genting Hong Kong'. Print Edition | Subscribe