Streetbeat News

Acquisitions Mergers

NVRI

Harsco Environmental, a division of Enviri Corporation (NYSE:NVRI), has renewed a multi-year services contract with Bahrain's SULB Company. This marks the third consecutive renewal since 2012, emphasizing the trust and partnership between the two companies. The 5-year contract includes slag and scrap management, product handling, yard management, briquetting services, and slag processing. The renewal, effective from Jan. 1, 2024, showcases Harsco's commitment to quality, safety, and sustainability.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 1:14 pm

GEHC

GE HealthCare is set to acquire MIM Software, a provider of AI-enabled image analysis and workflow tools for various care areas. The terms of the acquisition were not disclosed, but it is aimed at enhancing GE HealthCare's precision care strategy and digital solutions.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 1:02 pm

ACN

Accenture has made a strategic investment in QuantHealth through Accenture Ventures. The financial terms of the investment were not disclosed. This move could potentially enhance Accenture's capabilities in the health technology sector by leveraging QuantHealth's expertise.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 1:02 pm

ACN

Accenture (NYSE:ACN) has invested in QuantHealth, an AI-powered clinical trial design company, through Accenture Ventures. QuantHealth's platform uses AI to simulate clinical trials, aiming to reduce costs and increase efficiency in drug development. The technology is based on a dataset of 350 million patients and can predict trial outcomes, optimize trial designs, and potentially lower the risk of trial failures. While financial terms were not disclosed, the investment is part of Accenture Ventures' Project Spotlight, which supports disruptive enterprise technologies.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 1:01 pm

GOOG

GOOGL

LLY

NVS

Isomorphic Labs, an Alphabet Inc spin-off, has partnered with Eli Lilly and Novartis AG for AI-driven drug discovery. The deals are valued at around $3 billion, with Isomorphic receiving $45 million upfront from Eli Lilly and potentially $1.7 billion in milestones, and $37.5 million upfront from Novartis with up to $1.2 billion in incentives. Isomorphic uses DeepMind's AlphaFold 2 AI for predicting protein structures, aiding in drug design. Despite a £2.4 million loss in 2021, Isomorphic is expanding, including a new Swiss office. Google Cloud also launched AI tools for healthcare data consolidation.

Portfolio Pulse from Anusuya Lahiri

January 08, 2024 | 12:58 pm

DOOR

PGTI

PGT Innovations' board has evaluated Miter's acquisition proposal and determined it is not superior to the existing agreement with Masonite. However, the board believes that Miter's proposal could potentially become superior if certain aspects of the transaction are improved.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 12:41 pm

BABA

BIDU

NVDA

TCEHY

Nvidia Corp (NVDA) faces challenges in the Chinese market due to U.S. regulations barring high-performance AI chip sales. Major Chinese cloud companies like Alibaba (BABA) and Tencent (TCEHY) plan to reduce Nvidia chip orders, turning to local alternatives and in-house developments. Baidu (BIDU) and ByteDance are also shifting towards domestic producers like Huawei. Despite this, Nvidia sold over $1 billion of modified chips in China in 2023 and is developing new AI chips like the H20 for the Chinese market, set for production in Q2 2024. Nvidia's stock saw a slight increase on Monday.

Portfolio Pulse from Anusuya Lahiri

January 08, 2024 | 12:40 pm

HARP

MRK

Merck has agreed to acquire Harpoon Therapeutics for $23 per share in an all-cash transaction. This acquisition will enhance Merck's portfolio in the biopharmaceutical sector, specifically in the area of immuno-oncology, where Harpoon Therapeutics has been focusing its efforts.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 12:33 pm

AMAM

JNJ

Johnson & Johnson has announced an all-cash merger to acquire Ambrx for an approximate total equity value of $2 billion. This acquisition is expected to enhance J&J's pharmaceutical portfolio.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 12:33 pm

LMT

United Launch Alliance (ULA), a joint venture between Lockheed Martin (NYSE:LMT) and Boeing (NYSE:BA), launched the Vulcan rocket carrying human remains for 'space burials,' despite objections from the Navajo Nation. The Navajo Nation President, Buu Nygren, had previously urged NASA to consult with them, citing the Moon's sacred status in indigenous cultures. The White House held a meeting to address these concerns. The launch is a milestone in U.S. space exploration, with the Vulcan rocket set to compete with SpaceX's Falcon 9 and carry various payloads, including NASA instruments for lunar research.

Portfolio Pulse from Pooja Rajkumari

January 08, 2024 | 12:22 pm