All posts by Tyler Barrott

GlobeNewswire: Intertrust acquires Viteos for USD 330 million

Amsterdam, the Netherlands – 18 June 2019 – Intertrust N.V. (“Intertrust”), a leading global provider of expert administrative services to corporate, fund, capital markets and private wealth clients, today announces the acquisition of Viteos1, a provider of leading-edge technology solutions for U.S. funds, from PPC Enterprises LLC, FiveW Capital LLC (an affiliate of 22C Capital) and Viteos management.

Viteos is a tech-enabled alternative funds industry leader providing end-to-end middle and back office administration for top tier hedge funds, private equity, real estate, private debt and other alternative asset managers. Viteos has approximately 715 employees and operates a global delivery model with its headquarters and sales team in the U.S. supported by Centres of Excellence in India. Viteos delivered revenues of USD 52 million2, 94% in the U.S., having grown at an organic CAGR of 22% over the last two years, and an EBITDA margin of 36.6%.

Read entire article HERE.

Kahoot! joins the Microsoft Partner Network and adds integration with Microsoft Teams

In addition to our existing Microsoft single sign-on and two Windows apps, we’re launching an integration with Microsoft Teams. The new “Share with Teams” feature will make it possible to assign Kahoot! challenges as homework directly to groups within Microsoft Teams. Students will receive a notification and teachers can provide feedback – all within Microsoft Teams.

Read entire announcement HERE.

Dagbladet: Her kan det komme et Hilton-hotell

Den amerikanske hotellkjeden Hilton vil tilbake til Norge, sju år etter at de la ned sitt eneste hotell i Oslo.

Ansatte i selskapets utviklingsavdeling har vært på besøk her i landet ved minst tre anledninger, og da har de fått tid til både befaringer på ulike lokasjoner og har hatt møter med en rekke interessenter og lokalpolitikere.

– Vi har ikke signert noen franchiseavtaler i Norge, men vi er veldig opptatt av å videreutvikle hoteller i Norden og spesielt i Oslo, hvor vi ikke er til stede med noen av våre merker i dag. Oslo har derfor et sentralt fokus for oss i de kommende månedene, sier utviklingsdirektør Esteban Lozada i Hilton til Finansavisen.

Les hele saken HER.

 

First Travel Summit for NACC Los Angeles

The Norwegian American Chamber of Commerce Los Angeles hosted its first Travel Summit earlier this week, which was a big success. The program consisted of an opening performance from NACC LA member and classical guitarist Christina Sandsengen followed by a panel discussion representing sea, land and air travel: Eric Bacon from Hurtigruten, Audun Poulsen from Marriott (NACC LA board member), and Rachel Beausang from Norwegian. The discussion was well received and the audience followed up with engaging questions. New NACC LA member Hästens LA brought one of their luxury beds to the event, which was an extremely comfortable conversation starter. The silent auction could still use some help and is open until Tuesday night, June 25 – please click here to support the efforts of NACC’s youngest chapter, either with a bid or a donation. NACC LA is a 501(c)3 non-profit organization, and donations, membership dues and sponsorship payments are tax deductible. www.NACCLosAngeles.org

Forbes: Electric Cars: Why Little Norway Leads The World In EV Usage

Almost 60% of new cars sold in Norway during March 2019 were entirely electric-powered. It’s the latest record-breaking statistic involving Norway and electric vehicle (EV) records as the Scandinavian nation looks to stop sales of fossil fueled cars by 2025.

The numbers could be even higher, but thousands of Norwegians find themselves on long waiting lists as dealerships struggle to import enough vehicles. According to industry figures, a total of 11,518 EVs were registered in Norway during the first quarter of 2019, twice as many as the previous year. The new Tesla Model 3, Nissan Leaf and Volkswagen Golf account for the majority of registrations.

Although unit sales in China and the U.S. are far higher, it’s Norway that remains the poster child of the EV revolution. That’s because there are far more EVs on Norwegian roads as a proportion of total vehicles than anywhere else in the world. Constant headlines over the past few years have left many people scratching their heads as to why a little Scandinavian nation with a population just over 5 million leads the EV revolution. The answer is simple: favorable environmental math, and financial incentives.

Read entire article HERE.

Reuters: Exxon Mobil seeks bids for Norwegian offshore assets

OSLO (Reuters) – Exxon Mobil is considering selling all of the stakes it holds in oil and gas fields off the Norwegian coast, a spokeswoman said.

Two years ago the U.S. major – the world’s largest oil company – sold its operated assets in the area. But it has retained stakes in more than 20 other fields, including Equinor-operated Snorre and Shell-operated Ormen Lange.

“Following interest expressed by several parties, Exxon Mobil has decided to open a data room to test the market interest for the upstream portfolio in Norway,” Anne Fougner said, adding that no decision to sell had yet been made.

Read entire article HERE.

Wired: How Oslo’s best startups are building the future of the Norwegian economy

Norway is one of the world’s richest nations – mostly thanks to the discovery of oil deposits in the North Sea half a century ago. Easy access to capital, coupled with a desire to move the economy beyond fossil fuels, has created fertile ground for startups.

The capital, Oslo, is Norway’s main startup hub, attracting not only local talent but also entrepreneurs from Berlin, London and Stockholm. A report by the Oslo city council claims that, between March 2017 and February 2018, the number of startups in the city grew by nearly 20 per cent, which is faster than in its European rivals.

Many of Oslo’s startups have a hardware focus, developing digitally powered devices that meet specific needs. Here are six startups that caught our eye.

Read entire article HERE.

Reuters: Alone among peers, Norway raises rates, eyes two more hikes

OSLO (Reuters) – Norway’s central bank raised its main interest rate on Thursday, as expected, and said it may hike again in September and in the first half of 2020 as domestic strength trumps a global economic slowdown, strengthening the crown currency.

The bank raised its key policy rate to 1.25% from 1.0%, in line with the forecast of 27 of 29 economists in a Reuters poll.

Following the unanimous decision, the crown rose 1% to trade at 9.6713 to the euro at 0915 GMT, and was up by 1.6% for the day against the dollar to 8.5634.

“Our current assessment of the outlook and balance of risks suggests that the policy rate will most likely be increased further in the course of 2019,” Governor Oeystein Olsen said in a statement.

Read entire article HERE.

World Oil: NPD releases production figures for May 2019

STAVANGER — Preliminary production figures for May 2019 show an average daily production of 1,599,000 bbl of oil, NGL and condensate, which is a decrease of 120,000 bpd compared to April.

Total gas sales were 9.9 Bscm (Gsm3), which is a decrease of 0.1 Gsm3 from the previous month. Average daily liquids production in May was: 1,250,000 bbl of oil, 319,000 bbl of NGL and 29,000 bbl of condensate.

Oil production in May is 5.4% lower than the NPD’s forecast, and 2.5% below the forecast so far this year.

Read entire article HERE.

Press Release: OSM CEO Espen Høiby Named “Entrepreneur of the Decade” by Seed Forum Global.

CEO Espen Høiby has been awarded the prestigious prize as “Entrepreneur of the Decade” by Seed Forum Global. Espen Høiby was recognized for his long experience, active involvement and effective entrepreneurship over several years in multiple start-ups, and most prominently for having succeeded in building up OSM Aviation as a fast-growing international entrepreneurial success.

Read the entire press release HERE.