Warburg Nears €800 Million Deal for Ski Helmet Maker Uvex
The private equity firm and the family owners of Uvex are hammering out the final details on a transaction, which could value the business at around €800 million ($942 million) including debt, according to the people. Warburg became the likeliest buyer of Uvex after beating out other private equity firm suitors, they said.
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Business Wire
41 minutes ago
- Business Wire
Amos Food Wins Award at ESG Conference Held in Stuttgart
STUTTGART, Germany--(BUSINESS WIRE)--The 2nd Sino-European Corporate ESG Best Practice Conference, hosted by the Chinese Consulate General in Frankfurt, took place on June 26, 2025, in Stuttgart, Germany. Several companies were honored with Best Practice awards across six categories, with Amos Food Group receiving the Best Practice Award for Social Responsibility. With the theme 'Together We Are Strong – For a More Innovative, Healthy, Intelligent, and Sustainable Future,' the conference was hosted by the Chinese Consulate General in Frankfurt. With the theme 'Together We Are Strong – For a More Innovative, Healthy, Intelligent, and Sustainable Future,' the conference was hosted by the Chinese Consulate General in Frankfurt in collaboration with German institutions including GIZ (German Society for International Cooperation), the Baden-Württemberg IHK (Chamber of Commerce and Industry), KPMG Germany, as well as Chinese partners including the China-Europe Business Council. According to the jury composed of experts from organizations including TÜV Rheinland, KPMG Germany and the Beijing ESG Research Institute, several companies including Sinopec, Global New Material International, Bayer China, Airbus China and Air China, were honored with Best Practice awards across six categories, including environmental protection, social responsibility, corporate management, scientific and technological innovation, education and training, and other ESG-related innovative practices. At this year's conference, Amos Food Group from China won the Best Practice Award in the Social Responsibility category. Chairman Amos Ma expressed great honor and a strong sense of responsibility in receiving the award. As a representative awardee, he delivered a speech highlighting the group's comprehensive implementation of ESG principles in corporate governance, social responsibility, and environmental protection. He stated that as the only mainland Chinese company ranked among the world's top 100 confectionery enterprises, the group remains committed to its mission of 'being a messenger of sweetness to the world,' using confectionery to connect global consumers and foster international friendship. According to the organizers, the 3 rd Sino-European Corporate ESG Best Practice Conference will be held next year.
Yahoo
an hour ago
- Yahoo
ERGO Successfully Finalizes the Full Acquisition of NEXT Insurance
DÜSSELDORF, Germany, July 01, 2025--(BUSINESS WIRE)--ERGO Group AG ("ERGO") today announced the successful completion of the full acquisition of NEXT Insurance by Munich Re Group. Consequently, NEXT Insurance is now embedded within the management structure of ERGO, the major primary insurance business of Munich Re. All conditions required for the closing of the transaction have been satisfied by the companies according to schedule, including the required regulatory approvals. Through this transaction, ERGO enters the world's largest insurance market, tapping the appealing U.S. small and medium-sized businesses (SMB) segment. NEXT Insurance will complement ERGO's business capabilities through its proprietary technology stack and its fully digital, automated underwriting/pricing platform. In turn, ERGO will support NEXT Insurance's business growth by leveraging its technical excellence and insurance know-how. "Today's transaction closing represents an important milestone in establishing ourselves as a relevant insurance provider in the USA. Together with NEXT Insurance, we will seize the considerable growth potential offered by this attractive market as we expand our existing business portfolio. Through the combination of NEXT Insurance's technologically driven, successful market approach and ERGO's insurance expertise, we will deliver profitable growth and added value for all our stakeholders," comments Markus Rieß, Chief Executive Officer of ERGO Group AG. Founded in 2016 and headquartered in Palo Alto, California, NEXT Insurance is a leading technology-first Property & Casualty insurer focusing on the specific needs of U.S. small business owners. The company offers simple, digital insurance coverage, including General Liability and Workers' Compensation. Since its creation, NEXT Insurance has witnessed significant growth and generated a top line of $548 million in 2024. Today, the company serves more than 600,000 customers and counts around 700 employees. The signing of the definitive agreement by Munich Re and NEXT Insurance was announced on March 20, 2025. The definitive agreement had been concluded at a valuation of $2.6 billion for 100 percent of NEXT Insurance's shares. Prior to the transaction, ERGO Group AG was already a major shareholder of NEXT Insurance, holding around 29 percent of the company's outstanding share capital. The initial announcement can be found here. About ERGO Group AG ERGO is one of the major insurance groups in Germany and Europe. The Group is represented in over 20 countries worldwide, with a focus on Europe and Asia. ERGO offers its retail and corporate customers a broad product portfolio in all the main classes of insurance as well as comprehensive assistance and other services. Three units operate under the umbrella of ERGO Group AG: ERGO Deutschland AG, ERGO International AG and ERGO Technology & Services Management AG. The German and international businesses as well as the global management of IT and technology services are organized in these units. About 37,000 people work either as salaried employees or self-employed sales representatives for the Group. In the 2024 financial year, ERGO generated insurance revenue of 20.8 billion euros and a net result of 791 million euros. ERGO is part of Munich Re, one of the world's leading reinsurers and risk carriers. More at About NEXT Insurance NEXT Insurance is a leading digital insurer transforming small business insurance with simple, digital coverage tailored to the self-employed. Trusted by over 600,000 business owners, NEXT offers policies that are easy to buy and provides 24/7 access to purchasing and servicing, including Certificates of Insurance, additional insured, and more, with no extra fees. Revolutionizing a historically complicated insurance industry, NEXT utilizes AI and machine learning to simplify the purchasing process. Founded in 2016, the company is headquartered in Palo Alto and has received over $1 billion in venture capital funding. The company has also been recognized by CNBC Disruptor 50, Forbes Fintech 50, Inc.'s Best-Led Companies, and Forbes Best StartUp Employers. For more information, visit Stay up to date on the latest with NEXT on X, LinkedIn, Facebook and our blog. Disclaimer This media information contains forward-looking statements that are based on current assumptions and forecasts of the management of ERGO Group. Known and unknown risks, uncertainties and other factors could lead to material differences between the forward-looking statements given here and the actual development, in particular the results, financial situation and performance of our Company. The Company assumes no liability to update these forward-looking statements or to conform them to future events or developments. View source version on Contacts Media Contacts: Mirko-Alexander KahreERGO Group AGHead of Global Corporate CommunicationsERGO-Platz 140477 DüsseldorfPhone: +49 211 477-3025Mobile: +49 173 3869 media-relations@ Anat HarelNEXT Insurance, Digital Marketing975 California AvePalo Alto, CA 94304650-512-7303pr@
Time Business News
an hour ago
- Time Business News
GDPR Compliance Is Not Optional — Especially for Remote Teams
The General Data Protection Regulation (GDPR) has reshaped how companies handle personal data across the European Union and beyond. GDPR has issued penalties for over €5.88 billion by January 2025 for privacy violations. While many organizations think they are compliant, GDPR breaches often occur due to overlooked processes and outdated systems. This risk escalates with remote work. The shift to distributed teams creates new privacy blind spots, from unsecured Wi-Fi networks to unmanaged personal devices. A security oversight that might have been caught in a traditional office often goes unnoticed in a remote setup; until it becomes a data breach. In this article, we will explore five real-world lessons from GDPR enforcement actions and unpack how remote teams can avoid similar mistakes. We'll also highlight how employee monitoring software, AI-powered compliance, real-time threat detection, and free audit trials are helping companies stay prepared for regulatory scrutiny and reduce compliance risk in remote teams. One of the most cited GDPR violations is due to failure to monitor internal data access. In 2023, a German electronics retailer, Notebooksbilliger, was fined over €10.4 million for allowing employees to access sensitive customer data without legitimate reasons. The internal audit revealed improper logging, and the company was unable to demonstrate who accessed what data. Remote teams face a similar challenge. Without clear visibility into remote user activity, companies cannot track whether employees are accessing regulated data from unsecured locations or outside approved hours. Organizations must implement employee monitoring software that offers continuous, ethical visibility to prevent this. Tools like wAnywhere help companies monitor app usage, file access, and login behavior in real-time. It allows compliance teams to spot policy violations and maintain a centralized log for audit review. Many breaches occur when companies create static policies but fail to update or enforce them in response to changing work conditions. Vodafone Spain was fined €8 million for failing to update access policies for remote contractors. It also leads to unauthorized handling of customer records. This type of oversight is common in hybrid or fully remote setups, where devices and access points constantly shift. Organizations require a rule-based compliance system that adapts in real time. That is where AI-powered compliance tools add value. AI can map user activity to current policies and automatically flag deviations. For instance, if a remote finance team member attempts to download confidential reports from an untrusted device, the system can block access and trigger alerts instantly. This type of automation ensures that security rules stay active regardless of location or schedule. GDPR investigations often begin with data subject to access requests or breach disclosures. Companies that are unable to produce records within regulatory timelines risk additional penalties. In 2022, Dutch Hospital, OLVG, was fined €444,000 due to slow response in providing access logs during a 72-hour reporting window. Manual audit preparation slows down this process. When data lives in spreadsheets, inboxes, or isolated team drives, retrieval becomes chaotic. For remote teams, this delay increases as file access becomes even more fragmented across home networks and cloud systems. Companies should focus on generating free audit trails automatically to avoid this risk, Platforms like wAnywhere continuously log employee interactions with sensitive files, systems, and applications. These logs are organized, timestamped, and exportable, allowing compliance teams to respond to audit requests within hours, not weeks. This proactive approach not only meets regulatory expectations but also builds internal resilience during legal or operational investigations. GDPR mandates that data controllers report personal data breaches to authorities within 72 hours. Delays in detection or failure to recognize incidents as breaches are major causes of non-compliance. Austrian National Postal Service faced a €18 million fine after a system breach went undetected for five days, attackers prolonged access to personal data. With remote teams, incident detection becomes more complex. When devices operate outside secured networks and IT teams lose real-time control, threat visibility drops. An infected file or unauthorized access point can go unnoticed until damage is done. That is why real-time threat detection is essential in remote work environments. Tools with behavior analytics can identify unusual access patterns, including unauthorized access or a download spike at odd hours. When integrated with compliance systems, this capability also kicks off automated documentation that supports regulatory response timelines. Real-time threat detection safeguards in breach mitigation, keeping GDPR violations at bay by reducing both incident severity and response delays. The final, and often most overlooked, contributor to GDPR breaches is human error. Several enforcement actions cite cases, where employees clicked on phishing emails, or mishandled sensitive files. In many of these cases, the companies had the right tools but failed to educate staff on how to use them properly. Remote work compounds this challenge. Employees often work without direct supervision and juggle both personal and professional tasks on the same device. It's easy for remote workers to fall into risky behavior without regular compliance education. Companies should pair their tech stack with continuous compliance training to close this gap. Microlearning modules delivered through remote-friendly tools can cover topics like data classification, safe password practices, and secure communication. wAnywhere, for example, provides compliance engagement scores that help identify which employees may require refresher sessions. Training must be ongoing, scenario-based, and customized for the realities of remote workflows. When paired with the right tools, a well-informed workforce becomes a powerful compliance. As remote work becomes standard, GDPR compliance challenges have become more complex and widespread. Many organizations struggle with maintaining oversight across distributed teams. This is where responsible, privacy-conscious employee monitoring plays a crucial role in closing compliance gaps. Modern employee monitoring tools are designed to provide visibility without compromising trust. They help organizations understand how data is accessed, which applications are used, and whether policy violations are occurring, all in real time. One of the key benefits of monitoring is the generation of free audit trails. These automated logs, often powered by a system audit tool, offer a timestamped record of user activity. It helps compliance teams demonstrate accountability during GDPR audits. Whether it is access to sensitive files or usage of cloud platforms that store personal data, having structured records available on demand is a core requirement under Article 30 of the GDPR. Employee monitoring also supports real-time threat detection. If a team member downloads large volumes of sensitive data at an unusual time or logs in from an unrecognized location, behavior analytics can raise immediate alerts. This rapid detection significantly reduces the risk of delayed breach reporting; one of the most common causes of GDPR penalties. To further strengthen compliance, monitoring platforms increasingly offer AI-powered compliance features that can map employee behavior against internal data protection policies. These systems proactively flag policy violations and automate reporting, helping companies to ensure preventive compliance practices. When implemented transparently, with clear policies and employee consent, monitoring tools not only reduce legal risk but also create a culture of accountability and trust. GDPR compliance is an ongoing responsibility, one that becomes significantly more challenging in a remote or hybrid environment. From delayed breach detection to inconsistent access control, the risks are real and increasingly visible in enforcement actions across industries. The good news is that remote teams can stay ahead by focusing on visibility, automation, and accountability. Ethical employee monitoring, proactive AI-powered compliance, and reliable real-time threat detection create the structure to meet GDPR expectations without disrupting workflows. For distributed organizations, the lesson is clear: compliance must be built into daily operations, not treated as an afterthought. Remote teams can reduce risk, enhance trust, and operate with confidence by learning from past GDPR breaches and adjusting internal systems accordingly. TIME BUSINESS NEWS
