Germany’s Munich Re has signed a definitive agreement to acquire digital insurance company Next Insurance for $2.6 billion, the firms announced on Thursday. Founded in 2016, Palo Alto-based Next Insurance is focused on providing insurance to small-to-medium-sized businesses. It was last valued at $2.5 billion in late 2023 when it raised $265 million. Next Insurance’s…
Category: acquisition
acquisition, Enterprise, Global IT News, Global Security News, hamr, hard drive disk, Hardware, HDD, Intevac, Merger, Seagate
Seagate acquires Intevac, which makes equipment for hard disk drives, for $119M
Seagate, the data storage company, has announced its intent to acquire Intevac, a hard drive equipment producer, in an all-cash deal worth $119 million. Seagate said on Thursday that it’ll pay $4 per share in a tender offer for Intevac, which is publicly traded. Seagate will initially purchase a minimum of “at least one share…
acquisition, AI, ai accelerator chip, AI chip, Funding, FuriosaAI, Global IT News, Global Security News, Hardware, In Brief, Meta, report, rumor
Report: Meta in talks to acquire AI chip firm FuriosaAI
Meta is reportedly in talks to acquire a South Korean chip firm as the social media giant looks to bolster its AI hardware infrastructure. Meta may announce its intent to purchase FuriosaAI, a chip startup founded by former Samsung and AMD employees, as soon as this month, per Forbes. FuriosaAI develops chips that speed up…
acquisition, AI, Drata, Enterprise, Funding, Fundraising, Global IT News, Global Security News, Merger, SafeBase, Security, startup, Startups
Security compliance firm Drata acquires SafeBase for $250M
Drata, a security compliance automation platform that helps companies adhere to frameworks such as SOC 2 and GDPR, has acquired software security review startup SafeBase for $250 million. SafeBase co-founders Al Yang (CEO) and Adar Arnon (CTO) will retain their roles, and SafeBase will continue to offer a standalone product while bringing its core solutions to…
acquisition, AI, Apps, Enterprise, Fundraising, generative ai, Global IT News, Global Security News, Perplexity, read.cv, Social, social network, Startups
Perplexity acquires Read.cv, a social media platform for professionals
Read.cv, a social media platform for professionals that competed with LinkedIn, has been acquired by AI-powered search engine Perplexity. As part of the deal, Read.cv will begin to wind down operations Friday. Users will be able to export their data, including their profiles, posts, and messages, until May 16. “We’ve long admired Perplexity and believe…
acquisition, clearwater, clearwater analytics, enfusion, Enterprise, finance, Fintech, Fundraising, Global IT News, Global Security News, investment management, portfolio management
Clearwater agrees to buy investment management platform Enfusion for $1.5B
Clearwater Analytics, a company developing accounting, compliance, and risk reporting tools for asset managers, said on Monday it has entered into a definitive agreement to acquire investment management platform Enfusion for $1.5 billion. Clearwater, which says it has obtained an $800 million loan to fund the transaction, along with a $200 million revolving line of…
acquisition, AI, cape analytics, Fintech, Fundraising, geospatial, Global IT News, Global Security News, insurance, Moody’s, Startups
Moody’s agrees to acquire Cape Analytics, which develops geospatial AI for insurance providers
Financial services firm Moody’s announced on Monday that it has agreed to acquire Cape Analytics, a geospatial AI startup, for an undisclosed sum. The deal, which is expected to close in Q1, subject to customary closing conditions, will give Moody’s access to Cape’s geospatial AI analytics technology for insurance underwriting. With the tech, Moody’s plans…
acquisition, canadian, Enterprise, Global IT News, Global Security News, it provider, M&A, Merger, purchase, softchoice, startup, tech provider, world wide technology, wwt
IT tech services firm WWT acquires Canadian IT provider Softchoice in all-cash deal
One last mega-deal closed out an eventful 2024. On Tuesday, World Wide Technology (WWT), a tech services company based in St. Louis, announced it has agreed to acquire Canadian IT provider Softchoice in a deal that values the latter at C$1.8 billion (~$1.25 billion). The deal, which is all-cash, was unanimously approved by Softchoice’s board,…
acquisition, AI, ai infrastructure, Global IT News, Global Security News, Hardware, In Brief, Merger, nvidia, Run:AI, Startups
Nvidia completes acquisition of AI infrastructure startup Run:ai
Nvidia has completed its acquisition of Run:ai, an Israeli startup that helps manage and optimize AI hardware infrastructure. As part of the merger, Run:ai said its software, which currently only works with Nvidia products, will be open sourced, meaning Nvidia rivals like AMD and Intel will be able to adapt it for their hardware. “We…
acquisition, antitrust, Cloud, CMA, Competition and Markets Authority, Enterprise, FTC, Global IT News, Global Security News, HashiCorp, IBM, In Brief, investigation, Merger, Software, takeover, uk
UK antitrust watchdog launches review of IBM’s HashiCorp takeover
The Competition and Markets Authority, the U.K.’s antitrust watchdog, has opened an investigation into whether IBM’s planned acquisition of cloud software vendor HashiCorp would affect competition. The CMA said Monday it was inviting comment on the merger from interested parties by January 16. The regulator set a provisional February 25 deadline to decide whether to…
acquisition, Arctic Wolf, BlackBerry, cyber, Cybersecurity, cylance, Enterprise, Funding, Global IT News, Global Security News, Security
BlackBerry sells Cylance for $160M, a fraction of the $1.4B it paid in 2018
Arctic Wolf has acquired Cylance, BlackBerry’s beleaguered cybersecurity business, for $160 million — a significant write-down from the $1.4 billion BlackBerry paid to acquire the company in 2018. Under the terms of the deal, which is expected to close in BlackBerry’s fiscal Q4, BlackBerry will sell its Cylance assets to Arctic Wolf for $160 million…