Streetbeat News

Acquisitions Mergers

SPSC

SPS Commerce has acquired SupplyPike for approximately $119M in cash and $87M in SPS Commerce stock. The acquisition is expected to add $3M in revenue for Q3 2024, with a negative impact of $750,000 on Adjusted EBITDA. For fiscal year 2024, the acquisition will add $8M in revenue and negatively impact Adjusted EBITDA by $1.5M. By fiscal year 2025, the acquisition is expected to add $25M in revenue and break even in Adjusted EBITDA.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2024 | 11:52 am

RCM

R1 RCM has agreed to be acquired by investment funds affiliated with TowerBrook and CD&R in an all-cash transaction valued at $8.9 billion. The per-share consideration is set at $14.30, representing a 29% premium to the company's unaffected closing price on February 23, 2024.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2024 | 11:40 am

CIGI

Colliers International Group has raised its FY24 adjusted EPS growth guidance from 10%-20% to 11%-21% and revenue growth guidance from 5%-10% to 8%-13%, reflecting the partial year impact of the acquisition of Englobe. The outlook remains subject to macroeconomic and geopolitical factors.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2024 | 11:28 am

GS

BrightNight has secured a $440 million strategic investment from the Infrastructure Business at Goldman Sachs Alternatives.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2024 | 11:18 am

NVT

nVent Electric has agreed to sell its Thermal Management business to Brookfield Asset Management for $1.7 billion in cash.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2024 | 11:09 am

GVA

Granite Construction announced an agreement to acquire Dickerson & Bowen, Inc. for an undisclosed amount, with the transaction expected to close in Q3.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2024 | 10:52 am

ITT

ITT Inc. has agreed to acquire kSARIA Parent, Inc., a producer of mission-critical connectivity solutions for the defense and aerospace markets, for approximately $475 million. The acquisition is expected to close in the third quarter of 2024, pending customary closing conditions.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2024 | 10:32 am

ECX

VOLVF

Ecarx has sold a minority stake in HaleyTek to Volvo Cars. The terms of the deal were not disclosed. Ecarx will continue to collaborate with Volvo and HaleyTek on developing automotive software.

Portfolio Pulse from charles@benzinga.com

August 01, 2024 | 10:09 am

EXLS

EXL (NASDAQ:EXLS) has acquired ITI Data to enhance its data management capabilities for banks and healthcare companies. Financial terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2024 | 9:31 am

CVX

HES

XOM

Chevron's $53 billion acquisition of Hess faces delays due to arbitration claims by Exxon and CNOOC over a Guyana oil joint venture. The arbitration decision is expected in the second half of 2025, adding uncertainty for Chevron and Hess investors.

Portfolio Pulse from Benzinga Neuro

August 01, 2024 | 7:46 am