Analog Devices Completes Acquisition of Alif Semiconductor

Analog Devices, Inc. (NASDAQ: ADI) today announced the completion of its acquisition of Alif Semiconductor. The combination of ADI’s leadership across sensing, signal processing, power, connectivity and application software, with Alif’s AI-native microcontrollers and fusion processors, expands ADI’s total addressable market and accelerates innovation across industrial, data center infrastructure, defense, energy, robotics, digital health and wearable applications.

We are excited to welcome the Alif team to ADI and begin realizing the potential of bringing our technologies together, said Vincent Roche, CEO and Chair of ADI. For decades, ADI has helped customers solve their most complex system-level challenges through deep domain expertise and a cutting-edge technology portfolio spanning the physical-digital boundary. Alif’s AI-native platform builds on that foundation, advancing systems that can understand real-world signals, reason and act locally within demanding power, latency, security and reliability constraints. This is physical intelligence in action.

About Analog Devices, Inc.

Analog Devices, Inc. (NASDAQ: ADI) is a global semiconductor leader that bridges the physical and digital worlds to enable breakthroughs at the Intelligent Edge. ADI combines analog, digital, AI, and software technologies into solutions that combat climate change, reliably connect humans and the world, and help drive advancements in automation and robotics, mobility, healthcare, energy and data centers. With revenue of more than $11 billion in FY25, ADI ensures today's innovators stay Ahead of What's Possible. Learn more at www.analog.com and on LinkedIn and X.

Forward-Looking Statements

This press release contains forward-looking statements, which address a variety of subjects including, for example, the expected benefits of the transaction; ADI’s expected product offerings and benefits of those offerings, product development, and technical advances resulting from the transaction; markets, market position, addressable markets, and growth opportunities; and other future events. Statements that are not historical facts, including statements about our beliefs, plans, and expectations, are forward-looking statements. Such statements are based on our current expectations and are subject to a number of factors and uncertainties, which could cause actual results to differ materially from those described in the forward-looking statements. The following important factors and uncertainties, among others, could cause actual results to differ materially from those described in these forward-looking statements: unforeseen or unknown liabilities; costs or expenses related to the transaction; the inability to retain key personnel; difficulties in integrating the acquired business; the risk that expected benefits of the transaction may not be realized or may take longer to realize than expected; and uncertainty as to the long-term value of our common stock. For additional information about factors that could cause actual results to differ materially from those described in the forward-looking statements, please refer to our filings with the Securities and Exchange Commission, including the risk factors contained in our most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q. Forward-looking statements represent management’s current expectations and are inherently uncertain. Except as required by law, we do not undertake any obligation to update forward-looking statements made by us to reflect subsequent events or circumstances.

Adani Group Eyes $1.5 Bn Loan to Accelerate Data Centre Expansion

The Adani Group is in discussions to raise about $1.5 billion through an offshore loan to support the expansion of its data centre business, according to reports citing people familiar with the matter.

Sources said AdaniConneX, Adani Group's data centre venture with EdgeConneX, is in talks with a consortium of lenders, including DBS Group, First Abu Dhabi Bank and Mitsubishi UFJ Financial Group, for a proposed offshore loan facility.

Key Highlights

• AdaniConneX, the group's data centre joint venture with EdgeConneX, is reportedly negotiating with lenders including DBS Group, First Abu Dhabi Bank (FAB), and Mitsubishi UFJ Financial Group (MUFG).
• Additional discussions are said to involve Natixis, ING Bank, and Société Générale.
• The proposed loan could have a five-to-seven-year tenor, although pricing and final terms have not yet been agreed.
• The financing aligns with Adani's broader plan to invest around $100 billion in data centres and other digital infrastructure by 2035.
• The move comes after AdaniConneX reportedly secured an $800 million data centre loan earlier.

Why It Matters

India's data centre industry is expanding rapidly as demand for artificial intelligence (AI) and cloud computing infrastructure grows.

Government projections cited in reports suggest that India's data centre capacity could rise to nearly 8 GW by 2030, up from roughly 1.57 GW previously.

The funding effort also underscores intensifying competition among major Indian conglomerates.

• Adani Group plans to invest about $100 billion in data centres and digital infrastructure by 2035.
• Reliance Industries is also investing heavily in AI-related infrastructure, highlighting the race among India's largest business groups to build capacity for next-generation digital services.
• The rapid expansion of AI applications and cloud computing is expected to drive substantial investments into India's data centre ecosystem over the coming years.

Allcargo Logistics Reports ₹33 Cr PAT in H1 FY27, Delivers ₹48 Cr Profit Turnaround

Allcargo Logistics Reports PAT of ₹33 Cr, a ₹48 Cr Turnaround, and 12% Gross Profit Growth in H1 FY27

H1FY27 revenue grows 7%, EBITDA rises 31% year-on-year amid continued Revenue Growth

Allcargo Logistics Limited, an integrated logistics provider through its Domestic Supply Chain, Express Distribution and Consultative Logistics businesses, announced its consolidated financial results for the period ended September 30, 2026, reporting an improvement in profitability supported by consistently improving customer service levels, pricing discipline and operational efficiencies.

The company's gross profit grew 13% year-on-year in Q2FY27 & 12% in H1FY27, while EBITDA increased 24% year-on-year in Q2FY27 & 31% in H1FY27. The company also reported a Pre-Exception PBT of ₹24 crore in Q2FY27, representing a healthy 167% year-on-year growth, compared with ₹9 crore in Q2FY26.

The improvement reflects the company's continued focus on strengthening operating margins across its domestic logistics businesses. In Express Distribution, sustained/consistent progress in service levels, enhanced customer engagement and improving network efficiencies have enabled revenue growth and yield improvement. In Consultative Logistics, higher throughput from existing customers on the back of efficient service, improved warehouse utilisation and cost optimisation contributed to a sequential improvement in gross margins.

Commenting on the performance, Mr. Ketan Kulkarni, Managing Director and Chief Executive Officer, Allcargo Logistics Limited, said, “Our overall H1FY27 performance demonstrates a continued progress in strengthening the fundamentals of our domestic logistics business. The improvement in profitability and margins underlies the benefits of pricing discipline, cost recovery and process optimisation.

In Express Distribution, while growth moderated during this quarter, we adopted measures to improve customer engagement, service quality and network efficiency. Our goal now is to leverage this customer centric service delivery to drive volume growth while maintaining the pricing gains achieved over the past few quarters.

As we have entered the festive season, we are witnessing a recovery in volumes and expect this momentum to continue. In Consultative Logistics, higher volume from existing customers, improved warehouse utilisation and tighter cost management are supporting margins.

In H2FY27, profitable growth along with revenue expansion remains our priority. To attain that, we will continue to our three-pronged strategy – further improving service levels, increasing capacity utilisation and reducing operating costs.”

Financial Performance:

Overall Performance: The company reported a PAT of ₹19 crore in Q2FY27, a healthy 487% year-on-year growth, compared with loss of ₹(5) crore in Q2FY26. Revenue grew 3.4% year-on-year in Q2FY27, while H1FY27 revenue increased 7.1% year-on-year. Gross profit grew 13% year-on-year in Q2FY27 and 12% year-on-year in H1FY27. The EBITDA margin for H1FY27 stood at 13.4%, with EBITDA increasing 31% year-on-year.

Express Distribution: Shipment volumes remained broadly stable sequentially at approximately 3.11 lakh tonnes in Q2FY27, compared with 3.12 lakh tonnes in Q1FY27. Customer-segmentation initiatives, loyalty programmes, service-quality improvements and network optimisation are supporting volume recovery.

Consultative Logistics: Revenue increased by ₹9 crore during the quarter year-on-year, supported by higher throughput from existing customers. Also improved the company margins aided by cost optimisation and recovery of additional costs from customers.

Outlook: The company expects festive-season demand to support growth in Q3FY27, with automotive, electronics, heavy engineering and e-commerce contributing to volume growth. Priorities for H2FY27 include restoring volume growth, protecting yields, improving capacity utilisation and strengthening cash generation.

About Allcargo Logistics Limited

Allcargo Logistics Limited, under the composite Scheme of Arrangement, has merged its Domestic Supply Chain business and demerged its International Supply Chain (ISC) business as Allcargo Global. The Domestic Supply Chain business houses Express Distribution and Consultative Logistics. Allcargo Logistics combines legacy, innovation, and customer-centricity with a robust distribution network, deep expertise, and a digital-first approach to provide reliable logistics services for MSMEs, retailers, and enterprises. With a nationwide network covering 100% of India’s districts and a growing presence across Asia, the company offers extensive reach and service capability. Its key business verticals include Express Distribution, Consultative Logistics, Air Freight, E-commerce Logistics, First and Last Mile Delivery, and more. The company also offers specialized B2C services such as Laabh, Bike Express, and Student Express, designed to meet the evolving needs of diverse customer segments.

The Allcargo Group remains committed to Environmental, Social, and Governance (ESG) standards and continues to invest in its people, technology, business processes, and operations. The Group has set a goal of achieving 100% carbon neutrality by 2040.

Allcargo Logistics Limited is listed on BSE Limited (Scrip Code: 532749) and National Stock Exchange of India Limited (Symbol: ALLCARGO).

Tata Motors and Iveco Group Unite to Create a Global Commercial Mobility Powerhouse

Tata Motors and Iveco Group Come Together to Build for the Future Creating a New Global Force in Commercial Mobility

• Global Enterprise: Complementary portfolios and geographic strengths create a truly global enterprise, with presence in over 130 countries across key developed and high-growth markets in Europe, India, South America, Asia, the Middle East and Africa, and combined revenues of ~€21 billion (INR 2,28,000 Cr.+)
• Worldwide Footprint: 27 manufacturing sites and 25 R&D centres, supported by a network of over 9,300 sales and service centres
• Customer First: Combining global capabilities with deep local understanding to deliver greater value and excellence for customers
• Talent Power: 73,000+ employees across six continents, creating a formidable global talent and technology base to define the future of commercial mobility
• Proudly Distinct: Preserving the strength of our brands, identities and industrial foundations, while exploring newer opportunities for growth
• Seamless Continuity: Customers, dealers, suppliers and partners experience seamless continuity from day one
• Possibilities Multiplied: New opportunities to unlock technology, market access and scale, with capabilities flowing both ways

Tata Motors Limited, India’s largest commercial vehicle manufacturer, and Iveco Group N.V., a leading international player in commercial vehicles, buses and powertrains, today marked a new beginning together as a global commercial mobility enterprise with the scale, reach and capabilities to compete and grow across markets and technology cycles. Ranked fourth^[1] in the world amongst commercial vehicle manufacturers, the new enterprise combines deep industrial heritage, strong brands and complementary product portfolios spanning the breadth of commercial mobility, with a strategically diversified and growing presence across Europe, India, South America, Asia, the Middle East and Africa.

Announcing this at a global press meet in Turin, Italy, Mr. N Chandrasekaran, Chairman, Tata Sons, Tata Motors and Iveco Group, said:
“Today marks the beginning of an exciting new chapter for Tata Motors and Iveco Group. Two strong and successful organisations, united by shared values, a common commitment to sustainable mobility and an ambition to shape the future of commercial transportation, have come together to create a truly global commercial mobility enterprise. We will invest for the long term, enable ideas and capabilities to flow in both directions, and harness our combined scale, reach and talent to shape a future of mobility that is safer, smarter, more connected and more sustainable. I take this opportunity to express my appreciation to the Italian Government, the regulatory authorities across jurisdictions, our employees, shareholders and all the stakeholders whose trust, cooperation and support have helped us reach this important milestone. I also warmly welcome our colleagues from Iveco Group into the Tata family and look forward to all that we can achieve together.”

The collective strength and expertise of Tata Motors and Iveco Group in advanced powertrains, alternative energy, software, connected technologies and manufacturing, will accelerate innovation, open new frontiers for growth, and bring cleaner, smarter mobility solutions to customers at greater speed and scale, helping shape the future of commercial mobility.

Speaking on the occasion, Mr. Girish Wagh, MD & CEO, Tata Motors, said: "We are pleased to turn our strategic vision into an operational reality alongside our colleagues at Iveco Group. Together we have a compelling opportunity to create greater value for our customers and stakeholders. Our complementary portfolios, capabilities and geographic strengths provide a strong foundation for growth, while ensuring continuity from day one for customers, dealers and partners. Our ambition is to build a stronger enterprise by combining our strengths in engineering, new age technologies, sourcing, distribution and customer networks. We will accelerate innovation, broaden our reach and bring advanced solutions to customers faster and more competitively.”

United by a shared ambition for growth and green mobility, Tata Motors and Iveco Group will harness their combined scale, the talent of over 73,000 people and a two-way flow of engineering, technology and expertise to unlock the full potential of the combination.

Commenting on this fundamental milestone, Mr. Olof Persson, Chief Executive Officer, Iveco Group, said: “This is a defining moment for Iveco Group, and one we approach with confidence and great energy. We begin this new chapter proudly, with the brands, people, capabilities and industrial heritage that have shaped our company, alongside Tata Motors, a partner of great strength, with a deep understanding of the commercial vehicle business and a shared long-term perspective and commitment to sustainable transport. I want to thank our employees, customers, dealers, suppliers and partners for their trust and support. We now have the opportunity to build on everything Iveco Group has achieved, unlock new possibilities with Tata Motors and create an even stronger future.”

Strong Identities. Shared Ambition. Built for the Future.

The combination is founded on a clear principle: build on what makes Tata Motors and Iveco Group individually strong, while unlocking the greater possibilities they can create together.

Iveco Group will remain headquartered in Turin, Italy, with its brands, teams and industrial footprint retaining their distinct identities. Tata Motors will support Iveco Group’s existing strategy and investment plans, while both organisations collaborate to leverage their complementary strengths, deepen capabilities and create greater value for customers and stakeholders.

Global Scale. Worldwide Reach.

Together, Tata Motors and Iveco Group form a commercial mobility enterprise of significant global scale, with a presence in over 130 countries, sales volumes of ~590,000 units and combined revenues of ~€21 billion (INR 2,28,000 Cr.+).

This worldwide presence is supported by a strong industrial, innovation and customer network: 27 manufacturing sites, 25 R&D centres and approximately 9,300 sales and service centres.

Powering Mobility. Today and Tomorrow.

Across the combined enterprise, powertrain capabilities span the full spectrum: from conventional and established combustion technologies to natural gas to battery-electric, hydrogen and other emerging zero- and low-emission solutions.

This breadth of technologies, fuel choices and applications creates a powerful foundation to pursue multiple pathways to decarbonisation, addressing different customer needs and market realities while accelerating the transition towards cleaner commercial mobility.

For Customers. For Growth. For the Future.

The power of the combination lies in complementarity.

Tata Motors’ commercial vehicle portfolio spans sub-1-tonne to 55-tonne cargo vehicles and 10-seater to 51-seater mass-mobility solutions, with deep capabilities in India and high-growth emerging markets of Asia, Middle East & North Africa.

Iveco Group brings extensive capabilities across light, medium and heavy commercial vehicles and city and intercity buses, with strong positions across Europe and Latin America. FPT adds significant powertrain capabilities across on-road, off-road, marine and power-generation applications.

Together, this means more choice for customers: a broader range of vehicles, technologies and powertrain solutions, backed by the capabilities and reach to address increasingly diverse mobility needs.

Together, these strengths also create new possibilities to develop and deploy the next generation of commercial mobility solutions. Greater scale will help bring innovation to market faster and more competitively, while building on the distinct operational strengths of both organisations giving customers access to stronger technologies, capabilities, solutions and market reach across the combined enterprise.

Importantly, the growth opportunity extends beyond Tata Motors and Iveco Group. It creates a larger canvas for ecosystem partners - suppliers, dealers and distributors - to grow with the combined enterprise, access new markets and opportunities, and collectively deliver greater value to customers around the world.

73,000+ people. A larger world of opportunity.

At the heart of this new global enterprise are more than 73,000 people across Tata Motors and Iveco Group, bringing together deep experience, diverse perspectives and world-class capabilities.

For employees, the combination opens new opportunities for collaboration, learning and professional growth. Technology, engineering expertise, market knowledge and best practices will flow in both directions, enabling both teams to learn from each other, innovate faster and take proven solutions and capabilities to more customers and markets around the world.

Seamless Transition

For customers, dealers, suppliers and business partners, the transition is seamless. Existing customer contracts, dealer and supplier relationships, warranties, aftermarket commitments and captive financing solutions continue unchanged and are supported by the same dedicated teams and networks.

The Road Ahead

With strong roots in India and Europe and a significant presence across Latin America and other international markets, Tata Motors and Iveco Group now move forward with a shared ambition: to create a stronger, more innovative and more resilient commercial mobility enterprise, capable of leading through the profound transformation underway in transportation.

The immediate priority is continuity. The longer-term opportunity is greater: to use the combined strength of the two organisations to accelerate innovation, expand customer choice, create new growth opportunities and advance the transition towards cleaner, safer and more intelligent mobility.

About Tata Motors (Formerly TML Commercial Vehicles Ltd)

Part of the USD 180 billion Tata Group, Tata Motors Ltd. (BSE: Scrip code 544569; NSE: Scrip code TMCV) is India’s largest manufacturer of utility vehicles, pick-ups, trucks and buses. Together with its subsidiary Iveco Group N.V., it is a global mobility enterprise with complementary brands, technologies and deep engineering expertise with a presence across 130+ countries and solutions spanning the entire spectrum of commercial mobility.

Backed by Tata Motors’ eight decades of leadership, the combined enterprise brings greater scale, technological depth and international reach to serve evolving customer needs and shape the future of mobility. Guided by its brand promise, Better Always, Tata Motors continues to engineer future-ready solutions that enhance customer experience and drive sustainable growth.

As per the Composite Scheme of Arrangement sanctioned by the Hon’ble National Company Law Tribunal, Mumbai Bench among Tata Motors Limited, TML Commercial Vehicles Limited (the Company) and Tata Motors Passenger Vehicles Limited, the Company’s name was changed to Tata Motors Limited from TML Commercial Vehicles Limited (effective 29 October 2025), and its equity shares are listed on the BSE Ltd and the NSE Ltd.

About Iveco Group

Iveco Group N.V. (EXM: IVG), a subsidiary of Tata Motors Ltd. and part of a leading global commercial mobility enterprise, is a major player in the automotive industry, built on a strong Italian heritage and with a consolidated international reach.

The Group channels decades of engineering excellence and innovation into sustainable mobility and customer driven technologies. Its five brands play a leading role in their respective domains: IVECO, a pioneering commercial vehicles brand offering heavy, medium and light duty trucks; FPT, a global leader in advanced powertrain technologies in the agriculture, construction, marine, power generation and commercial vehicles sectors; IVECO BUS and HEULIEZ, renowned for their mass transit, premium bus and coach solutions; and IVECO CAPITAL, the Group’s financing arm supporting them all.

Iveco Group employs 33,000 people and operates 16 industrial sites and 22 R&D centres. Further information is available at:
www.ivecogroup.com

^[1] By Truck Sales Volumes in >6 ton segment.

India-based Taisho Ventures receives SGD 1 million (~INR 7.4 crore) Under the DBS Foundation Impact Beyond Award To Scale

DBS Foundation announced SGD 3 million (approximately INR 22 crore) in funding for four purpose-driven businesses across Asia, including India’s Taisho Ventures (Khyaal), which will receive SGD 1 million (~INR 7.4 crore) under the DBS Foundation Impact Beyond Award.

These businesses tackle pressing social needs in ageing in Asia, from creating purposeful work and social connections for older adults to strengthening post-hospital care and enabling seniors to age in place.

Announced at the DBS Foundation Impact Beyond Dialogue – Regional Edition, the Impact Beyond Award, now in its second year, reflects a broader push to help societies adapt to longer lives by building resilience across generations and rethinking how people live, work and care.

India’s ageing population is growing rapidly, increasing the need for solutions that help older adults remain connected, engaged and independent. According to a 2025 UNFPA India and Observer Research Foundation report, India’s elderly population is projected to reach nearly 193 million by 2030.

Against this backdrop, Taisho Ventures is addressing the need for independence, greater engagement and social connection among older adults through Khyaal, India’s leading platform for senior citizens, with more than 5 million users.

About Khyaal

Built for people aged 50+, Khyaal is a technology-first, community-led, phygital platform offering services across physical, emotional, cognitive, social, financial and digital well-being.

Through its online and offline programmes, seniors can access yoga and fitness sessions, brain training, financial and digital literacy, cyber-safety programmes, competitions and hobby groups, as well as services such as e-commerce, health insurance and senior-friendly tours.

Its flagship national competition, 50Above50, provides seniors with a platform to showcase their talent, experience and passions.

“It is heartening to see the new cohort of DBS Foundation Impact Beyond Award winners applying design thinking and leveraging AI to address the growing needs of rapidly ageing societies. We hope the award will enable these innovative businesses to enhance their ability to deliver impact and catalyse systemic change; and in doing so, demonstrate how businesses can be a force for good.”

— Karen Ngui, Head of DBS Foundation

“Uplifting lives and livelihoods amid demographic change, technological disruption and evolving work and care needs takes sustained commitment. Immediate relief matters, but it must also open pathways to greater agency and lasting resilience. Together with our impact ecosystem, and with the expertise and commitment of our colleagues across DBS Bank, we fund multi-year programmes and holistically nurture Businesses for Impact that help communities face the future with confidence, regardless of life stage or circumstance.”

— Karen Ngui

“We are honoured to receive the DBS Foundation Impact Beyond Award. At Khyaal, we are focused on building an integrated ecosystem that enables seniors to lead healthier, more independent, and fulfilling lives. The recognition from DBS Foundation will help us build on our existing efforts, strengthen our platform, and extend the reach of our services to more seniors across Tier-2 and Tier-3 cities in India, while also expanding into geographies like Southeast Asia. We look forward to continuing to deepen our impact as we work towards making active ageing more accessible.”

— Hemanshu Jain, Founder & CEO, Khyaal

Reflecting its commitment to strengthening social and financial resilience across DBS Bank’s six key markets — Singapore, China, Hong Kong, India, Indonesia and Taiwan — the Foundation has, since its inception in 2014, impacted more than 13 million lives, supported 52 programmes and 180 Businesses for Impact, and mobilised 1.3 million DBS employee volunteer hours to date.

Beyond funding, DBS Foundation supports businesses through capability-building and ecosystem connections, while leveraging DBS Bank’s expertise, mentorship and networks to accelerate growth and impact.

Hyderabad-based Life Circle Health Services was among the winners of the inaugural DBS Foundation Impact Beyond Award in 2025, receiving SGD 500,000 (approximately INR 3 crore) to scale its eldercare services in India.

Other Winners from the Second Cohort

• Hon Yang Healthcare – Taiwan (SGD 1 million)
  Operates an integrated post-discharge care ecosystem connecting hospitals, physicians, pharmacies, nursing and long-term care providers, and assistive-device rental services. It supports more than 150,000 seniors, people with disabilities and rehabilitation patients.
• One Bite Design Studio – Hong Kong (SGD 500,000)
  Its Project House “Silver Power Hub” creates community spaces where seniors can connect, share their skills and access short, paid “mini-jobs”.
• Shanghai Fuyuan Elderly Care Service – China (SGD 500,000)
  Provides community-based eldercare that integrates health, rehabilitation and active ageing services, enabling seniors to age in place.

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About DBS Foundation

Established in 2014, DBS Foundation is committed to uplifting lives and livelihoods of those in need. It provides essential needs to the underprivileged and fosters inclusion by equipping the underserved with financial and digital literacy skills.

It also nurtures innovative social enterprises that create positive impact. It aims to bring hope to those with less today, so no one is left behind and we can all face the future with confidence.

In 2024, DBS committed up to SGD 1 billion over the next decade to support vulnerable communities and pledged to contribute 1.5 million employee volunteer hours over the same period.

Together with an ecosystem of like-minded partners, DBS Foundation seeks to create impact that goes beyond banking, beyond borders and beyond generations.

For more information, visit: www.dbs.com/foundation

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About Khyaal

Khyaal is India’s leading platform for senior citizens, with more than 5 million users.

Built for people aged 50+, the technology-first, community-led, phygital platform is centred around the different dimensions of senior well-being — physical, emotional, cognitive, social, financial and digital — along with a strong focus on purpose and meaningful engagement.

Through online and offline community activities, sessions and workshops, seniors can participate in yoga, fitness, brain training, financial literacy, cyber-safety and digital literacy programmes, alongside on-ground competitions and hobby groups.

They can also avail themselves of services like e-commerce, health insurance, digi-gold investments and senior-friendly tours.

Its flagship national competition, 50Above50, provides seniors with a national stage to showcase their talent, experience and passions.

The aim is to help seniors build connections, rediscover interests, develop confidence and find renewed purpose after retirement.

For more information, visit: www.khyaal.com