Exclusive-EQT to acquire software provider Neogov for more than $3 billion, sources say
Warburg Pincus, the majority owner of Neogov, and Carlyle, which owns about a third of the company, will fully exit their investment as part of the sale to EQT, said the sources.
The sources spoke on condition of anonymity to discuss the matter before a formal announcement, which is expected as early as this week.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Independent Singapore
10 hours ago
- Independent Singapore
Tourism sector welcomes heritage-focused investment zones in Johor Bahru under 13MP
JOHOR BAHRU: The tourism industry has lauded the federal government's move to introduce Special Tourism Investment Zones (STIZ) under the 13th Malaysia Plan (13MP), describing it as a timely initiative to elevate heritage-based tourism while safeguarding Malaysia's diverse cultural legacy. Malaysian Tourist Guides Council president Jimmy Leong praised the decision as both 'timely and wise', stressing that heritage-centred destinations could become educational tourism assets with lasting value, the New Straits Times reported. Heritage must be more than a trend Leong urged that the STIZ should not only serve as a vehicle to attract tourism investment but also become a platform for artistic expression and the preservation of Malaysia's cultural and natural history. According to New Straits Times , Leong said that heritage in tourism goes beyond just buildings or artefacts and includes natural landscapes, local customs, historical stories, places of worship, and traditional practices passed down through generations. He warned against treating heritage tourism as a temporary trend, instead advocating for it to be firmly embedded as a cornerstone of Malaysia's tourism identity and long-term economic strategy. See also Johor sees 13MP as strategic roadmap to 2030 development goals 'Our variegated past gives our country a unique edge,' Leong noted. 'These heritage attractions—namely museums, battlefield sites, historic towns, gardens, and wilderness areas—should be developed as protected educational tourism products.' Grassroots inclusion seen as key to success 'It's crucial that tourism players on the ground are included in the process. We need to create experiences that are not only marketable but also meaningful and authentic,' Leong said, as quoted by the New Straits Times . Heritage tourism should reflect the experiences, plights, and cultural values of the communities it seeks to portray. This will ensure that economic benefits are shared equally while traditions are kept alive. Implications for Singapore tourism and cross-border collaboration Johor has been named as one of the host states for the new STIZ; thus, the move is likely to influence cross-border tourism trends between Malaysia and Singapore. As Johor seeks to improve its heritage-based offerings, Singaporean visitors may be drawn to new cultural attractions and educational experiences just across the Causeway. The STIZ could also create joint tourism packages, festival collaborations, and heritage trail linkages that enrich the overall visitor experience on both sides. For Singapore, Johor's commitment to heritage tourism may improve regional tourism flows. Through this initiative, opportunities for partnerships and heritage-themed travels that can benefit both Johor and Singapore may further flourish. Read also: Johor sees 13MP as strategic roadmap to 2030 development goals
CNA
a day ago
- CNA
Trump fires BLS commissioner, raising concerns about economic data quality
WASHINGTON: United States President Donald Trump fired the Labor Department's Bureau of Labor Statistics (BLS) Commissioner Erika McEntarfer on Friday (Aug 1) after data showed weaker-than-expected employment growth in July and massive downward revisions to the prior two months' job counts. Trump accused McEntarfer, who was appointed by former president Joe Biden, of faking the jobs numbers. There is no evidence to back Trump's claims of data manipulation by the BLS, the statistical agency that compiles the closely watched employment report, as well as consumer and producer price data. The US economy created only 73,000 jobs in July. Data for May and June were revised sharply down to show 258,000 fewer jobs created than had been previously reported. "We need accurate Jobs Numbers. I have directed my Team to fire this Biden Political Appointee, IMMEDIATELY. She will be replaced with someone much more competent and qualified," Trump said in a post on Truth Social. The BLS did not immediately respond to a request for comment. William Wiatrowski, the deputy commissioner, will serve as acting commissioner. The Trump administration's recent mass layoffs of federal government workers have raised concerns about the quality of US economic data, long seen as the gold standard. Economists, labour unions and Democratic Party leaders criticised the firing as an attempt by the Trump administration to manipulate data and warned of lasting damage to the economy. "The civil servants at BLS are not political actors. They are professionals committed to producing accurate, independent data, regardless of who is in power," said American Federation of Government Employees national president Everett Kelley. McEntarfer had worked in the federal government for more than two decades under multiple administrations, Kelley said. Trump-aligned Republicans were supportive of the BLS firing, calling McEntarfer a "Biden holdover". DATA CREDIBILITY NOW IN QUESTION "Politicising economic statistics is a self-defeating act," said Michael Madowitz, principal economist at the Roosevelt Institute's Roosevelt Forward. "Credibility is far easier to lose than rebuild, and the credibility of America's economic data is the foundation on which we've built the strongest economy in the world. Blinding the public about the state of the economy has a long track record, and it never ends well." Earlier this year, Commerce Secretary Howard Lutnick disbanded two expert committees that worked with the government to produce economic statistics. Lutnick has also floated the idea of stripping out government spending from the gross domestic product report, claiming "governments historically have messed with GDP". The BLS has already reduced the sample collection for consumer price data as well as the producer price report, citing resource constraints. The government surveys about 121,000 businesses and government agencies, representing approximately 631,000 individual worksites for the employment report. The response rate has declined from 80.3 per cent in October 2020 to about 67.1 per cent in July. "In my opinion, today's Jobs Numbers were RIGGED in order to make the Republicans, and ME, look bad," Trump wrote in another Truth Social post, without offering any evidence. Economists attributed the near-stall in job growth to Trump's trade and immigration policies. They said uncertainty about where Trump's tariff level would settle had made it difficult for businesses to plan long-term. More clarity has emerged as the White House has announced trade deals, but economists said the effective tariff rate was still the highest since the 1930s. Trump slapped dozens of trading partners with steep tariffs on Thursday, including a 35 per cent duty on many goods from Canada.
CNA
2 days ago
- CNA
Meta to share AI infrastructure costs via $2 billion asset sale
Meta Platforms is pressing ahead with efforts to bring in outside partners to help fund the massive infrastructure needed to power artificial intelligence, disclosing plans in a filing on Thursday to offload $2 billion in data center assets as part of that strategy. The strategy reflects a broader shift among tech giants — long known for self-funding growth — as they grapple with the soaring cost of building and powering data centers to support generative AI. The social media giant said earlier this week that it was exploring ways to work with financial partners to co-develop data centers to help finance its massive capital outlay for next year. 'We're exploring ways to work with financial partners to co-develop data centers,' Meta Chief Finance Officer Susan Li said on a post-earnings conference call on Wednesday. While the company still expects to fund much of its capital spending internally, some projects could attract 'significant external financing' and offer more flexibility if infrastructure needs shift over time, Li said. The company did not have any finalized transactions to announce, she said. The disclosure in Meta's quarterly filing, however, signals that plans are firming up. In its quarterly filing on Thursday, Meta said it had approved a plan in June to dispose of certain data center assets and reclassified $2.04 billion worth of land and construction-in-progress as "held-for-sale". These assets were expected to be contributed to a third party within the next twelve months for co-developing data centers. Meta did not record a loss on the reclassification, which values the assets at the lower of their carrying amounts or fair value less costs to sell. As of June 30, total held-for-sale assets stood at $3.26 billion, according to the filing. Meta declined to comment for this story. CEO Mark Zuckerberg has laid out plans to invest hundreds of billions of dollars into constructing AI data center 'superclusters' for superintelligence. 'Just one of these covers a significant part of the footprint of Manhattan,' he said. The Instagram and WhatsApp owner on Wednesday raised the bottom end of its annual capital expenditures forecast by $2 billion, to $66 billion to $72 billion.
