Connect with us

News

CJ Logistics Builds Saudi Arabia's First Dedicated eCommerce Global Distribution Center to Target Middle East Market

Published

on

CJ Logistics Builds Saudi Arabia's First Dedicated eCommerce Global Distribution Center to Target Middle East Market

– The country’s first eCommerce customized global distribution center will be completed in 2024.

CJ Logistics, a leading provider of logistics solutions worldwide, announced plans to build a Global Distribution Center (GDC) in Saudi Arabia by 2024.

The GDC will be the first dedicated e-commerce logistics facility in Saudi Arabia. It will be located in Riyadh’s Special Integrated Logistics Zone, which was established by the Saudi Government at King Khalid International Airport to become a global logistics hub.

On May 10, the company had the business launch ceremony with the Saudi Arabian General Authority Civil Aviation (GACA) in Riyadh, Saudi Arabia.

The proposed facility is a state-of-the-art logistics center with a gross floor area of 18,000 square meters and a daily throughput capacity of 15,000 boxes. It will serve as a forwarding base and hub for logistics in the region, connecting the Middle East, Africa and Europe.

CJ Logistics signed an eight-year long-term contract with iHub before establishing the GDC. The new center will offer international delivery of iHerb products to the Middle East, one of the largest online retailers for health and wellness products.

“The Saudi e-commerce market has the richest growth potential in the Middle East and the geographical advantage of connecting Africa and Europe,” said Kang Sin-ho, CEO of CJ Logistics. “We will spare no support for state-of-the-art logistics technology and infrastructure so that the GDC can become a logistics hub that leads the Middle East e-commerce market.”

About CJ Logistics

CJ Logistics provides integrated global supply chain services, maximizing customer value through continuous improvement and innovation. Currently, CJ Logistics operates technology-driven logistics businesses at 249 bases in 36 countries around the world. With a focus on social responsibility and sustainability through growth with customers and communities, CJ Logistics prioritizes the well-being of the end consumer. CJ Logistics offers an integrated, one-stop SCM service platform with air and sea international freight forwarding, warehousing and transportation contract logistics, asset-based transportation, parcel and express delivery, and supply chain consulting. As a lead logistics partner (LLP), third-party logistics provider (3PL) and supply chain consultant, CJ Logistics helps customers leverage supply chain management as a competitive advantage, reducing total system costs, transforming business processes, improving service and facilitating growth and change.

News

Qashio and Landmark Group’s Shukran Loyalty Program Announce Strategic Partnership Enabling Seamless Points Exchange

Published

on

shukran qashio

Qashio, the leading Spend Management software and corporate card provider in the UAE, is excited to announce a strategic partnership with Landmark Group’s Shukran Loyalty Program, one of the region’s largest and most beloved retail loyalty programs. This collaboration will allow Qashio users to seamlessly exchange their Qashio Points for Shukrans, enhancing the value and flexibility of both loyalty programs for companies across the UAE.

Through this innovative partnership, members of Qashio Points will enjoy an integrated rewards experience, gaining access to a broader range of benefits and opportunities to redeem points through Shukran. The exchange process is designed to ensure that customers can effortlessly convert their Qashio Points into Shukrans and enjoy rewards with popular brands like Centrepoint, Babyshop, Splash, Shoemart, Lifestyle, Max Fashion, Home Centre, Home Box, Emax and Dine at Citymax.

Key Benefits of the Partnership:

  • Enhanced Reward Flexibility: Users can now convert Qashio Points to Shukrans, providing more options to redeem rewards across a wide range of products and services.
  • Increased Value: By merging the strengths of both loyalty programs, customers gain greater value from their accumulated Qashio points, maximizing their spending power and rewards potential.
  • Seamless Integration: The points exchange process is integrated within the Qashio interface, making it easy for users to manage and convert their points.

Armin Moradi, CEO and Co-founder of Qashio, said, “Keeping our promise to deliver the best value for our clients means that we want to offer rewards where our clients see the most value. This collaboration underscores our commitment to enhancing the customer experience and providing innovative solutions that cater to the evolving needs of our clients.

James Dickson, Chief Product Officer, Landmark Digital, said, “We are delighted to announce the launch of our partnership with Qashio, the leading Corporate Card and Expense Management solution in the market. This collaboration enriches our customers’ experiences, allowing them to convert Qashio Points to Shukrans and enjoy an array of redemption options at Landmark Group Brands. Together, we redefine the essence of loyalty, offering our members the opportunity to have a rewarding shopping experience.”

To celebrate the launch of this partnership, Qashio is offering one lucky customer the chance to win 1,000,000 Qashio Points when they sign up to Qashio until 31st August 2024.

About Qashio: Qashio has established itself as a leading Corporate Card and Expense Management solution in the UAE. Their comprehensive platform combines seamless issuance of virtual and physical Corporate cards with robust software capabilities. By streamlining expense management, automating reconciliation processes, and offering additional benefits such as business financing and affordable employee medical insurance, Qashio enables businesses to optimise their financial operations. Qashio Points, Qashio’s loyalty program, is the only corporate loyalty program in the region offering exclusive rewards from Shukran, Emirates Skywards as well as Cashback.

Continue Reading

Acquisition

Arieli EL to Acquires a 59.1% Stake in Elron Ventures, a Leading Cybersecurity and B2B Software Holding Company, for $53.2M

Published

on

The acquisition underscores the continued strength of the Israeli cyber and B2B software, where cyber exits accounted for 51% of total tech transactions in 2023. Lisya Bahar-Manoah is leading the acquisition and has joined Arieli EL as Managing Partner.

NEW YORK and TEL AVIV, Israel, July 22, 2024 — Arieli EL, part of the Arieli group of companies, has today announced the acquisition of a 59.1% stake in veteran cyber and B2B software holding company Elron Ventures (TASE: ELRN) for $53.2 million from Discount Investment Corporation Ltd. This acquisition highlights the significant market opportunities within the Israeli ecosystem, especially in cybersecurity and defense. Lisya Bahar-Manoah, Managing Partner at Arieli EL, is leading the acquisition of Elron Ventures (Elron).

Gartner forecasts that security and risk management spending will reach over $200 billion globally in 2024, representing a 14.3% year-over-year growth. This trend demonstrates the growing importance of cybersecurity, a sector where Israel, home to over 500 cybersecurity companies, is regarded as a global leader.

“The gap between real-time cyber solutions and evolving cyber threats is a critical challenge,” said Lisya Bahar-Manoah, Managing Partner at Arieli EL. “In 2023, there were more than 300 million victims of cybercrime globally, with data breaches rising by 78% in the US alone. Israeli cybersecurity exits in 2023 grew by 65% totalling $7.1 billion, and we see this trajectory only gathering pace in 2024 as demonstrated by reports of Google’s acquisition of Wiz for $23 billion. We are excited to be partnering with Elron’s team as well as Elron’s joint venture with Rafael Advanced Defense Systems (Rafael) to further contribute to this sector and continue building innovative solutions for sustained growth.”

Elron Ventures has over $250 million in assets under management (AUM) and its portfolio includes over 19 companies across the cybersecurity, B2B Software, and health-tech spaces. Since 2010, Elron’s portfolio has had 15 exits, totaling $2.2B. Notable portfolio companies include: Cynerio, a healthcare cybersecurity company, ensures patient safety and data protection by securing the connected medical device ecosystem; Cybersixgill, developing automated threat intelligence solutions across the clear, deep, and dark web; Cyvers, offering a real-time platform for detecting and mitigating cyber attacks on cryptocurrency and digital assets; IRONSCALES, an automated phishing prevention, detection & response platform; Sayata, automating insurance company processes; Red Access, providing the first agentless platform to secure all browsing activities of corporate employees on any browser, web app or cloud service and Scribe Security, providing a comprehensive solution to secure software supply chains.

“We are excited to have the opportunity to combine our joint experience and know-how in nurturing Israeli tech ventures throughout all stages of growth with Arieli’s vast global network to provide the platform for our portfolio’s success,” said Dan Hoz, Chairman of the Elron Venture’s board.

About Arieli EL

Arieli EL, part of the Arieli group of companies, addresses global challenges with a forward-thinking investment strategy. Arieli EL has deep roots in the global family office space, specializing in High-tech and Healthcare investments. Arieli EL strives to provide family offices and institutional investors with access to unique opportunities while providing portfolio companies access to our global network.

About Arieli Capital

Arieli Capital (Arieli) is a multifaceted global investment firm that is an active investor and partner in the next generation of technology companies. Arieli Capital continuously strives to identify and support companies creating real impact while keeping financial returns as the primary objective. Arieli is a recognized global leader in innovation, creating  and operating  programs across governmental, academic and corporate partnerships.

About Elron Ventures

Elron Ventures is a leading early-stage investor committed to turning promising ideas into global industry leaders, with a proven track record of investments and successful M&As worldwide. Elron invests in cyber security and B2B software.

Continue Reading

News

Internet Service Provider Omni Fiber announces $150 Million in financing from Stonepeak Credit to continue rapid expansion in the Midwest

Published

on

Omni Fiber, a regional Fiber Internet Service Provider with operations in over 25 markets in Ohio and Pennsylvania backed by Oak Hill Capital, today announced the closing of $150 million in debt financing from Stonepeak Credit.

Founded in 2022 by management and Oak Hill, Omni Fiber has invested over $250 million in building an XGS-PON fiber network and is on track to reach approximately 200,000 locations by the end of the year. The financing from Stonepeak Credit will fund rapid expansion into more communities in Ohio, Pennsylvania, and Michigan.

Omni Fiber launched its service in late 2022 and now serves residential and business customers in over 25 small and mid-size communities. Construction is in progress in over 15 additional communities, and network design and engineering activities are ongoing in many others.

Omni Fiber’s founding CEO, Darrick Zucco said, “We are excited about the additional opportunities this financing enables. The company’s network expansion not only brings choice to communities with limited options for reliable, ultra-high-speed Internet service but also creates hundreds of new jobs at Omni Fiber and local contractors. The halo effect on economic development for the impacted towns is significant.”

Scott Baker, Managing Partner at Oak Hill Capital, added “It has been a uniquely rewarding experience to partner with Darrick and his talented leadership team. We are thrilled by the rapid growth of Omni Fiber and are committed to continuing investing behind the team as they expand their fiber services to underserved markets in Ohio, Pennsylvania, and Michigan.”

Ryan Roberge, Senior Managing Director at Stonepeak, added “We are proud to partner with Omni Fiber and Oak Hill Capital to support Omni’s next phase of growth. Our team was thoroughly impressed with Darrick and the rest of Omni’s management team and their plans to expand Omni’s next generation fiber network to additional communities in the Midwest. We look forward to continuing our partnership with Omni and Oak Hill Capital over the long-term.”

With the additional funding, Omni Fiber expects to accelerate the pace of expansion and announce more communities in the next few months.

About Omni Fiber
Omni Fiber was founded in 2022 and is backed by Oak Hill Capital, one of the largest investment firms in the telecommunications industry. Based in Ohio, Omni Fiber is led by a leadership team with 100+ years of combined industry experience and provides 100% fiber-optic broadband Internet, TV, and Phone services to residential and business customers in the Midwestern United States. Omni Fiber offers symmetrical speeds of up to 10 Gbps, no hidden fees, no data caps, Premium Wi-Fi included, local customer service, and competitive pricing.

About Oak Hill Capital
Oak Hill is a longstanding private equity firm focused on the North America middle-market. Oak Hill applies a specialized, theme-based approach to investing in the following dedicated industry sectors: Media & Communications, Industrials, Services, and Consumer. The Firm implements a highly systematic approach to theme development, proactive origination, and value creation in partnership with management to build franchises of lasting value. Over the past 35+ years, Oak Hill and its predecessors have raised approximately $20 billion of initial capital commitments and co-investments, invested in approximately 100 companies, and completed more than 300 add-on acquisitions representing an aggregate enterprise value at acquisition of over $60 billion.

About Stonepeak
Stonepeak is a leading alternative investment firm specializing in infrastructure and real assets with approximately $71.2 billion of assets under management. Through its investment in defensive, hard-asset businesses globally, Stonepeak aims to create value for its investors and portfolio companies, with a focus on downside protection and strong risk-adjusted returns. Stonepeak provides capital, operational support, and committed partnership to grow investments in its target sectors, which include communications, energy and energy transition, transport and logistics, and real estate.

Stonepeak is a sponsor of private equity and credit investment vehicles. Stonepeak Credit provides credit solutions to infrastructure sponsors and companies.

Stonepeak is headquartered in New York with offices in Hong Kong, Houston, London, Singapore, and Sydney.

Continue Reading

Trending

Subscribe to our Free Newsletter

Get Business and Marketing Insights from Experts, only onTimes of Startups!

Your Information will never be shared with any third party