AOL, one of the internet’s early behemoths, has been snapped up by Italian app developer Bending Spoons in a reported $1.4bn deal.

The Milan-based firm said it is raising $2.8 billion in debt to fund both the acquisition and future takeovers.

AOL – which stands for American On Line – still has eight million daily users and stands to generate $400 million in annual revenue this year.

It was acquired by private equity giant Apollo in 2021 as part of a $5 billion deal which saw it acquire Yahoo and its assets from telecoms giant Verizon.

Bending Spoons has acquired other US firms in Evernote, Meetup and Brightcove.

VIOOH, a global digital out of home (DOOH) supply-side advertising platform, announced a strategic partnership with BIG OUTDOOR.

The deal struck by the MarTech 50 leader encompasses over 130 strategically positioned digital screens in the United States across three distinct environment types, delivering more than 677 million monthly impressions throughout major metropolitan areas.

The BIG OUTDOOR network spans high-impact locations including spectacular digital displays, street furniture and premium mall environments across New York, Los Angeles, Dallas, San Francisco, Atlanta, Austin and San Diego.

Skyrora, the British rocket and space technology company, has developed a novel, high-temperature metal in collaboration with Metalysis and Thermo-Calc Solutions.

By 3D printing the material in-house, the production of Tanbium will reduce reliance on US imports of alloys, helping to localise a key material for the UK and European industrial sector.

Existing aerospace alloys often limit performance or face supply chain risks. Tanbium offers significant advantages in terms of performance, cost, weight and material waste, including a higher burn time and temperature capability; the potential for a 40% reduction in total component cost; up to an estimated 30% in weight savings in engine components; and up to 95% less material waste through 3D printing.

Skyrora is now leading an ESA-backed project that aims to validate Tanbium’s production and performance for use in rocket engine components and other extreme-environment applications.

AI-powered fleet safety and telematics firm Exeros Technologies has secured investment from Pembroke VCT to accelerate its next stage of growth.

Founded in 2009 by Jay Biring and Joe Williams, the London-based company develops advanced camera and data systems that analyse vehicle footage in real time to detect driver fatigue, distraction and other risks.

Its core platform, VideMatics, is already used by more than 200 commercial fleets, including the AA, RAC and National Highways, and helps customers cut collisions by up to 62% and reduce claims costs by more than half.

The new funding will support itss plans to expand its team, enhance its AI capabilities and solidify its position in a UK video telematics market projected to exceed $12 billion by 2030.

PolyBox, the Newcastle-based AI marketing startup founded by Rojin Yarahmadi and Nikolaos Benopoulos, has secured a grant from the DCMS Create Growth Programme, delivered by Innovate UK.

The funding will fuel the company’s next stage of innovation, expanding its AI-driven data analysis platform to handle more complex datasets and deliver deeper marketing insights.

The firm’s technology aims to unify data from over 700 sources, from Google to CRM systems, to automate reporting and unlock strategic growth for agencies.

The grant forms part of the government’s £8 million Create Growth Programme supporting creative tech innovators across the UK.

Risers:

NEXT – +7.50%

Fresnillo – +6.80%

Glencore – +6.30%

Hochschild Mining – +4.03%

Aston Martin Lagonda – +3.61%

Fallers:

Goodwin – -8.22%

Elementis – -2.46%

Rotork – -1.83%

Biopharma Credit – -1.76%

Taylor Wimpey – -1.71%

The UK’s first digital pre-market property platform has officially launched under the leadership of Quintessentially co-founder Paul Drummond.

The Swoople platform is designed to revolutionise how estate agents are appointed by digitising one of the property sector’s most traditional and time-consuming processes.

Instead of waiting for listings to go live, Swoople aims to connect instruction-ready sellers with agents earlier in the journey to help streamline the path from first interest to signed instruction.

Through the platform, sellers create private previews – Swoops – while agents compete for appointments on a transparent, pay-as-you-win model.

London-based 4most has expanded its presence in continental Europe with the acquisition of VB Risk Advisory – a Netherlands-based consultancy specialising in quantitative risk and financial modelling.

The deal adds a 24-strong team of econometricians, along with a respected training programme and established client relationships, to the firm’s growing Netherlands business.

The business says that the move enhances its ability to deliver advanced risk modelling and regulatory expertise to financial institutions across Europe.

Backed by Phoenix Equity Partners, 4most provides advisory and transformation services to clients across banking, insurance and financial services.

Glasgow-based AutoRek has strengthened its push into the insurance market with two senior appointments aimed at accelerating digital transformation across the sector.

The global reconciliation and financial controls specialist has hired Tony Shek and Meghana Nile to support its growing client base and expand its AI-driven solutions for insurers.

Shek, who joins from CyberSmart, brings more than a decade of experience in insurance and digital strategy from roles at Aviva, AIG, Generali, MetLife and HSBC.

Nile, previously a Business Architect at Allianz Insurance, brings over 15 years’ experience in designing technology-led solutions for complex financial systems.

The business, which already serves more than 30 insurers globally, recently launched AutoRek ARIA – an AI-powered module designed to boost efficiency, control and automation across financial operations.

Newcastle-based Sage has launched Sage Expenses for Sage 50 Accounts in the UK.

The product is a new AI-powered expense management tool designed to simplify how small businesses handle claims, receipts and approvals. 

Built in partnership with Swedish FinTech Findity, the platform aims to replace manual expense processes with automated workflows, mobile-first receipt capture and real-time cost visibility.

The new tool is part of the company’s broader strategy to modernise financial workflows for SMEs, integrating automation and AI into everyday accounting tasks

Author: Patrick Killeen

MedTech giant GSK has upgraded its 2025 guidance after solid growth across all divisions helped lift sales, profit and earnings.

For the three months to the 30th September, the pharmaceutical firm reported sales of £8.5 billion, up 7% at actual exchange rates (AER) and 8% at constant exchange rates (CER).

Total operating profit for the FTSE 100 constituent climbed to £2.59bn – more than doubling from last year.

UK Export Finance (UKEF), the UK’s export credit agency, and PIF have signed a Memorandum of Understanding (MoU) to strengthen financial cooperation and expand trade and investment opportunities between the United Kingdom and Saudi Arabia.

UKEF has a total market risk appetite of £4-5 billion in Saudi Arabia. The agency will partner with PIF – Saudi Arabia’s sovereign wealth fund – and its portfolio companies to access a pipeline of existing and prospective projects in the country that, if backed with UKEF financing, will offer numerous supply contracts for UK-based suppliers.

 

Infotec, a subsidiary of Journeo plc, has received purchase orders for $5m from Outfront Media Group to supply platform display systems for the Metropolitan Transportation Authority in New York City.

Journeo is a provider of intelligent systems for transport networks and critical national infrastructure. Its share price has risen more than 6% today following news of the deal.

Using the latest Journeo Design Centre TFT displays technology, Infotec will supply four new display variants, consisting of 49-inch and 65-inch units certified for indoor and outdoor applications in the US. These will be the first displays the group has supplied for Digital Out Of Home advertising on subway platforms.

The solutions include powerful embedded technology to manage display performance, provide vital diagnostic feedback for predictive maintenance and maximise system uptime.

OpenAI, the parent company of ChatGPT, has completed its transition into a for-profit firm.

The company, which began life as a non-profit in 2015, will change to a public benefit corporation – an entity that expresses commitment to bettering society.

It has also reorganised its ownership structure and signed a new agreement with long-time backer Microsoft giving it a 27% stake.

OpenAI has been valued at $500bn under the terms of the deal.

A new agreement between the BBC, the West Midlands Combined Authority (WMCA) and Create Central is being hailed as a “game-changing” moment for Birmingham’s growing creative hub, with leaders saying Digbeth could soon rival MediaCity in Salford.

The memorandum of understanding will see the BBC’s network television production spend in the West Midlands rise from £24 million to £40m by the end of 2027, alongside a £5m per year investment from the WMCA to support the region’s creative industries.

As part of the deal, the broadcaster will establish a new production base in Digbeth, following its move to the Tea Factory and the relocation of major shows such as Silent Witness and MasterChef to the area.

Santander has delayed publication of its quarterly results after the Financial Conduct Authority published a consultation paper on a proposed redress scheme relating to historical motor finance commission arrangements.

The publication followed a Supreme Court judgment on cases connected to Discretionary Commission Arrangements.

“Santander UK is reviewing the consultation in detail to understand its potential implications noting that the FCA’s proposed approach differs in important respects from the Supreme Court’s ruling, the legal basis for the redress scheme’s relevant period is not clear and it remains at the consultation stage,” it stated.

“There is therefore uncertainty regarding the final scope, methodology and timing of any redress scheme that may ultimately be implemented.”

Author: Patrick Killeen

Allergy Therapeutics has strengthened its finances after raising £55 million from the exercise of 1.38 billion lender warrants, using the proceeds to fully repay its shareholder loan and clear all outstanding debt.

The West Sussex-based MedTech, which develops allergy vaccines and immunotherapy treatments, said the move leaves it with a stronger balance sheet and more room to grow as it prepares for key product milestones.

The company has also agreed a new £50m unsecured loan facility with long-term backers SkyGem Acquisition Limited and Southern Fox Investments Limited, providing financial flexibility until 2030.

Clear Junction has named Teresa Cameron, who has served as CFO for over four years, as group CEO.

She succeeds founder Dima Kats at the helm of the global payments solutions provider, which enables cross-border payments and banking infrastructure for regulated financial institutions.

Kats will move into the role of group executive chair as Clear Junction formalises its first full board.

Under this new leadership model, Clear Junction says it is strengthening its senior team to deliver the next phase of growth across the UK, Europe, and North America, having recently been named one of the FT 1000 fastest growing companies in Europe for the second year running.

Author: Jonathan Symcox

Aberdeen Investments is to take full control of Tritax, which oversees the listed Big Box Real Estate Investment Trust.

Tritax is an asset manager investing in critical supply chain real assets aligned with structural trends including digitisation, automation, urbanisation and green energy. 

It runs the publicly listed FTSE 250 fund Tritax Big Box REIT plc – which has a current market value of more than £4 billion – as well as a growing suite of private market products. Together they own and manage assets across the UK to deliver logistics solutions for clients.

Since Scottish firm Aberdeen made its original investment under previous chief executive Stephen Bird, Tritax has grown assets under management from £5.1bn to around £9bn, while revenue has increased approximately 13%. 

Aberdeen’s phased acquisition of Tritax will see it move from its current 60% interest to 80% in April 2026 and a 100% interest in 2029.