News
Philips to Rake in $3.3Bn From 80.1% Interest in LED Lighting Sales

Royal Philips on Tuesday announced that it has signed an agreement with a consortium led by GO Scale Capital through which they will acquire an 80.1% interest in Philips’ combined LED components and Automotive lighting business, with Philips retaining the remaining 19.9%* interest.
The transaction values the business at an enterprise value of approximately USD 3.3 billion.
Philips expects to receive cash proceeds, before tax and transaction related costs, of approximately USD 2.8 billion and a deferred contingent payment of up to USD 100 million.
The transaction is expected to be completed in the third quarter of 2015, subject to closing conditions, including customary regulatory approvals.
Following the transaction, the new company will continue under the name Lumileds, led by CEO Pierre-Yves Lesaicherre. Philips’ Lighting Solutions business will remain an important customer of Lumileds and will continue the existing innovation and supply partnership.
“Philips is very positive about this transaction with GO Scale Capital as its principals are long-term, growth-oriented investors with a track record of building and expanding technology companies,“ said Frans van Houten, CEO of Royal Philips. “We have significantly improved the performance of the LED components business and optimized the industrial footprint in the Automotive lighting business over the last few years, and established a strong management team and innovation pipeline. We are therefore convinced that together with GO Scale Capital, Lumileds can grow further, attract more customers and increase scale as a stand-alone company.“
GO Scale Capital is a new investment fund sponsored by GSR Ventures and Oak Investment Partners.
The consortium partners are Asia Pacific Resource Development, Nanchang Industrial Group and GSR Capital.
The GO Scale Capital team has deep technology expertise and a track record in scaling up disruptive technologies.
Current investments include Boston Power, a U.S.-based manufacturer of electric vehicle batteries, and Xin Da Yang, a leading Eco-EV company in China.
The team brings deep knowledge of the LED components and automotive technology industries.
Through their past investments in the LED industry, they have access to complementary technologies and manufacturing capacity.
This uniquely complements Lumileds’ high-power LED manufacturing footprint and expertise, and the combination offers opportunities for the company to pursue further growth and scale.
Sonny Wu, co-founder and managing director of GSR Ventures and chairman of GO Scale Capital, who will serve as interim chairman of Lumileds following the completion of the transaction, stated that: “The Lumileds acquisition will be a perfect example of how GO Scale turns cutting edge technologies into world class companies. GO Scale Capital will focus on expanding Lumileds’ opportunities by investing in its global centers of operation and in the fast growing general lighting and automotive industries.
“Through Lumileds’ world-leading technology in key verticals such as LED chips, LED mobile flash and automotive lighting, together with a customer base including the likes of BMW, Volkswagen and Audi, we expect to see significant growth and unparalleled inroads into new opportunities such as electric vehicles.”
“I am convinced that together with the new investors led by GO Scale Capital, Lumileds will extend its leading product portfolio of lighting components and continue to achieve robust growth,” said Pierre-Yves Lesaicherre, CEO of Lumileds. “With our strong technology leadership, we are ready to address the future needs of our customers. We will work closely with our industry partners and customers to lead innovation and the transformation of our industry.”
Lumileds is a leading supplier of lighting components to the general illumination, automotive and consumer electronics markets with operations in more than 30 countries and has approximately 8,300 employees worldwide. In 2014, it generated sales of approximately USD 2 billion and a double-digit EBITA margin.
Following the separation of Lumileds, Philips Lighting will focus on the exciting and growing lighting solutions markets in which it has leading market positions.
As previously announced in September 2014, Philips has started the process of creating two market-leading companies focused on HealthTech and Lighting Solutions opportunities.
As part of that strategic repositioning, Philips will transition the Lighting Solutions business into a separate legal structure and it is the current intention to effectuate the separation through an initial public offering, although other options will continue to be reviewed.
News
Dr. Olusola Teniola, Honoured with Yoruba Study Group Golden Leadership Excellence Award

ipNX Director, Dr. Olusola Teniola, has been awarded the prestigious Golden Leadership Excellence Award by the Yoruba Study Group. Dr Teniola, who leads Strategic Business Initiatives (SBI) at ipNX, the leading Nigerian technology and telecommunications company, was conferred with this award at the ipNX Corporate Headquarters, Victoria Island, Lagos.

Dr. Teniola was recognised as an Icon of Excellence & Most Outstanding Administrator of the Year 2025/2026 for his remarkable contributions to the advancement of Nigeria’s telecommunications industry, as well as his unwavering commitment to making data more affordable and accessible to millions of Nigerians.
The award celebrates his embodiment of the revered Omoluabi ethos of Yorubaland, defined by integrity, diligence, excellence, and strong character. His leadership and impact have been particularly notable through his work with the Association of Telecommunications Companies of Nigeria (ATCON) and the Alliance for Affordable Internet, where he has played a pivotal role in shaping policies and initiatives that drive digital inclusion and connectivity across Nigeria.
In its citation, the Yoruba Study Group commended Dr. Teniola for his “exemplary contributions to the advancement and management of telecommunications in Nigeria, his unquantifiable efforts in ensuring affordable data for the teeming masses, and his outstanding record of quality service delivery.”
Reacting to the recognition, Dr. Teniola said “I am deeply honoured to receive this award from the Yoruba Study Group. This recognition is not just a personal milestone, but a reflection of the collective efforts of industry stakeholders committed to advancing Nigeria’s digital future. I remain dedicated to driving initiatives that promote affordable access to connectivity, foster innovation, and empower more Nigerians to participate meaningfully in the digital economy, while upholding the values of integrity, excellence, and service.”
The Yoruba Study Group, a socio-political organisation founded in 2019, is dedicated to promoting Yoruba traditions, values, and cultural heritage. ipNX described the award as a testament to Dr. Teniola’s enduring impact on both the technology sector and society at large.
“Dr. Teniola exemplifies the highest standards of leadership, innovation, and service. His contributions continue to strengthen Nigeria’s digital economy while reflecting the values of excellence and integrity that we uphold at ipNX,” said Mobolaji Caxton-Martins, Head Marketing and Corporate Communications, ipNX Nigeria.
This recognition not only highlights Dr. Teniola’s professional achievements but also underscores his commitment to fostering inclusive growth, strengthening industry collaboration, and advancing Nigeria’s position in the global digital landscape.
News
Joshua Ichor, Nigerian Innovator Bags Europe’s €60m Fellowship

Joshua Ichor, a Nigerian geoscientist and innovator, has secured a rare invitation into the prestigious EWOR Fellowship, one of Europe’s most selective founder programmes built for outlier entrepreneurs with the potential to create billion-euro companies.

Joshua Ichor
The invitation places Ichor inside EWOR’s elite founder ecosystem, a powerful European platform associated with a reported €60 million commitment to backing exceptional founders building the next generation of globally significant companies.
EWOR describes itself as a fellowship for founders who “think in decades and build in days.” The platform says it backs the top 0.1% of founders building potential €10 billion+ companies, with mentorship from unicorn-builders and a founder-first model designed for exceptional entrepreneurs.
For Ichor, the selection is more than another milestone. It is a signal that one of Europe’s most ambitious founder networks sees major global potential in the Nigerian innovator.
While the technology Ichor is currently building has not been disclosed to the public, sources close to the development describe it as a powerful and ambitious piece of technology with the potential to scale internationally.
The project remains under wraps as Ichor continues to refine the product, strategy, and long-term market direction.
According to the fellowship invitation, EWOR believes Ichor is among the few founders with what it takes to build a company that could be valued at €1 billion or more.
That belief places him in a rare class of founders being watched not only for what they have done, but for what they are quietly building next.
EWOR has earned attention for its radical selectivity and founder-first approach.
Its own platform highlights a 0.1% acceptance rate, describing the fellowship as a community of outlier founders who push and sharpen one another.
EWOR’s public materials also reference the fellowship as “Harder than Y Combinator,” built by unicorn founders for founders seeking a higher level of ambition.
The fellowship connects selected founders with a powerful network of unicorn builders, investors, and operators.
Ichor is expected to build alongside a high-calibre founder community that includes names such as Ricky Knox, known for two nine-figure exits; Andrew Nutter, associated with a €180 million revenue company and Sequoia Scout experience; Nick D’Aloisio, widely known for achieving a major technology exit as a teenager; and Jörgen Tveit, who raised one of Europe’s biggest-ever pre-seed rounds by a first-time founder.
The EWOR ecosystem also gives founders access to sessions with globally recognized operators and investors, including Fabrice Grinda, founder of OLX; Kevin Hartz, founder of Eventbrite and Xoom; Mark Ghermezian, founder of Braze; and Michael Baum, founder of Splunk.
For a Nigerian geoscientist to enter this circle is a major statement. It shows that African technical talent is increasingly stepping into the same rooms as some of the world’s most ambitious venture-backed founders.
Ichor’s current technology remains confidential, but the conviction from EWOR suggests that the opportunity is significant.
The details are not yet be public, but the direction is clear: Joshua Ichor is building something with global ambition.
EWOR’s wider network includes some of the world’s leading startup investors and venture names, including A16Z, Accel, Atomico, Balderton, Earlybird, EQT, FJ Labs, Lakestar, Sequoia, Speedinvest, World Fund, and others.
Its platform says fellows raise at 50–300% higher valuations than average, further underlining the strength of the ecosystem around selected founders.
News
More than 50 Percent of Leaked Passwords End with a Number – Research Reveals

To mark the occasion of World Password Day, Kaspersky experts analysed 231 million unique passwords in major password leaks from 2023 to 2026, and uncovered several key patterns.

First, 68% of modern passwords can be cracked within a day. Second, it turned out that the vast majority of compromised passwords either begin or end with a digit – a common pattern that makes them potentially vulnerable to brute force attacks.
And third, users also favour positive and trending words; for example, over the past couple of years, use of the word “Skibidi” in analysed passwords surged 36 times, mirroring the rise of that Internet trend.
In recent years, secure passwords’ rules have become a widely discussed topic. More and more services now demand passwords that are at least 10 characters long, include an uppercase letter, and contain a number or a symbol.
Yet a comparative analysis of leaked passwords from the past few years shows that even following some of those rules does not guarantee resistance to brute‑force or AI‑driven attacks.
Kaspersky experts share practical advice on how to make passwords more complex and secure, and how not to repeat common mistakes.
Be creative with using symbols and numbers
Among the leaked passwords that contain just one symbol, the “@” sign tops the list, appearing in 10% of cases. The next most common symbol is a dot (.), found in 3% of passwords. Among all analysed passwords “@” takes second place in terms of prevalence, and in third place is “!”.
Numbers also follow similarly predictable patterns:
53% of examined passwords end with digits;
17% begin with digits;
Nearly 12% include a numeric sequence that resembles a date (from 1950 to 2030);
3% of leaked passwords include keyboard sequencies like “qwerty” or “ytrewq”, but most of them are digital sequencies like “1234”.
Alexey Antonov, Data Science Team Lead at Kaspersky, notes that commonly used symbols, numbers, or dates – especially when placed in obvious positions (such as at the beginning or end of a password) – significantly simplify brute force attacks for cybercriminals. That’s why it’s highly recommended to give preference to less popular characters, and avoid numeric or keyboard sequences.
“Bruteforce works by systematically trying every possible character combination until the correct password is found. When attackers already know which characters users tend to favour, the time required to crack a password drops dramatically. To avoid the temptation of choosing predictable symbols, entrust password creation to dedicated generators that produce random letters, numbers, and symbols with equal probability”, says Alexey Antonov.
Between… Eden and hell: Try to avoid using words in a password
The research shows that emotional and trending words frequently become the basis for a password. For example, from 2023 to 2026 the use of the word “Skibidi” in passwords increased 36 times – mirroring the rapid rise of that Internet trend.
Kaspersky experts have also conducted analysis of the occurrence of positive and negative words in passwords, and it turned out that there are more positive ones. Among those regularly appearing are positive words like “love”, “magic”, “friend”, “team”, “angel” and “star”, “eden”. Interestingly, positive words are much more common than negative ones. However, words like “hell”, “devil”, “nightmare” and “scar” also occur.
“Using a single‑word password, even with a trailing number or a special character, is a weak choice. The pattern is too predictable, making it easy for attackers to guess. Instead, craft a passphrase that strings together several unrelated words, each supplemented with internal numbers and symbols, and sprinkle in a few intentional misspellings.
The longer and more random and unpredictable the password is, the harder it is to crack. As an additional way to protect yourself, enable two-factor authentication (2FA) wherever possible,” recommends Alexey Antonov.
Is password length important?
It’s well known that longer passwords are harder to crack, and the analysis of leaked passwords confirms this principle. However, with the rise of AI driven tools, length alone no longer guarantees security: even lengthy passwords can be compromised if they follow predictable patterns.
The research shows that short passwords of up to eight characters that appeared in the leak are typically cracked by brute force attacks in under a day. However, thanks to AI-powered smart algorithms, more than 20% of 15-character passwords can be broken in less than a minute.
What’s more 60.2% of all analysed passwords – regardless of length – can be cracked in about an hour; 68.2% – in a day.
In the examples provided, the calculations assume a single RTX 5090 GPU and the MD5 algorithm. In real‑world scenarios, attackers can rent multiple GPUs – ten, a hundred, or even more. Under such conditions, the cracking rate would increase potentially by several orders of magnitude.
In modern terms, truly secure passwords not only meet the gold standard of 16+ characters, but also consist of random, non-repeating letters, numbers, and symbols, and are unique for each account. To help users create such passwords, Kaspersky has added a password generation feature to the Kaspersky Password Generator website. Now users can not only check their passwords for leaks, but also generate secure passwords for free.
For easy and secure password management, auto-fill, and cross-device synchronisation consider using a password manager in which all credentials are stored in a secure vault and protected by a single master password. This eliminates the need to remember hundreds of passwords while keeping them safe from breaches.
What’s more, not only passwords, but also passkeys can be created and stored directly in Kaspersky Password Manager, which allows not only to sign in to supported services with a single tap, but also to access passkeys on all devices owing to secure synchronisation.
E-Financial1 day agoTranscorp Excites Shareholders with ₦20.3 Billion Dividend @20th AGM
E-Financial1 day agoAfrica Prudential Launches Sabivest to Boost Digital Investment Access
Telecom1 day agoPAFON 3.0: Agency Banking Key to Reaching Millions of Unbanked Nigerians – AMMBAN
General News1 day agoPIN Records 3.07Bn Media Reach, Expands Digital Rights Impact Across Africa in 2025
General News1 day agoInterswitch Inducts 3rd Interns into Its Developer Academy
General News1 day agoUK Reaffirms Commitment to Press Freedom, Science Journalism Training for Nigerian Media
Telecom11 hours agoMTN, Airtel, Glo Under Pressure as FG Demands Better Service Delivery
E-Business11 hours agoFirm Warns of Phishing Attacks via Compromised Amazon Simple Email Service Accounts













