Streetbeat News

Acquisitions Mergers

ACN

SAP

Accenture Plc (NYSE:ACN) is set to acquire Ammagamma, an Italian AI firm, to enhance its European AI capabilities. The acquisition aligns with Accenture's $3 billion investment plan to aid client transformation through AI. Ammagamma brings a team of 90 AI professionals to Accenture's Advanced Center for AI in Europe. Additionally, Accenture announced a collaboration with SAP SE (NYSE:SAP) to reinvent supply chains, aiming to reduce risk and support sustainability. Accenture's cash position was $9.04 billion as of August 31, 2023. ACN shares closed slightly lower at $332.43.

Portfolio Pulse from Shivani Kumaresan

November 28, 2023 | 1:15 pm

AMPS

Brightcore Energy has partnered with Altus Power, Inc. (NYSE:AMPS) and Brennan Investment Group on a new community solar project. The project involves installing solar panels across 19 properties, expected to produce 8,993MWh of electricity annually. The 7.5-megawatt rooftop system is set to be completed next month, contributing to significant CO2 emissions reductions. Altus Power's role as a leading clean electric power provider is highlighted, along with the project's alignment with New Jersey's growing community solar program.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 1:10 pm

DMK

DMK Pharmaceuticals has regained full rights to SYMJEPI from U.S. WorldMeds and is now looking for out-license opportunities for the product both in the US and internationally. The company's focus is on maximizing shareholder value through these efforts.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 1:06 pm

GOOS

Canada Goose has acquired the operating assets of Paola Confectii Manufacturing, a Romanian knitwear supplier, marking its first European manufacturing facility. This move aligns with the company's Strategic Growth Plan to expand categories and increase year-round relevance. The acquisition is expected to enhance product margins, supply control, and in-house expertise. Knitwear is a key segment in Canada Goose's growing Apparel category, which surpassed $70 million in annual sales in fiscal 2023. The company will continue to produce core down-filled products in Canada, while expanding apparel production in Europe.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 1:04 pm

GLOB

Globant (NYSE:GLOB) has acquired a majority stake in GUT, the Cannes Lions 2023's Independent Network of the Year. This move aims to enhance Globant's creative capabilities and support GUT's expansion into new markets. The partnership is expected to elevate Globant's technology and creative offerings by integrating technology into advertising.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 12:53 pm

BTTX

Better Therapeutics, Inc. (NASDAQ:BTTX) has amended its debt facility with Hercules Capital, Inc. to extend the Interest Only period, redeem debt without penalties, and potentially remove the minimum cash covenant. The amendment also allows for debt-to-equity conversion under certain conditions. Additionally, Better Therapeutics is implementing cost-saving measures, including salary reductions, to improve its financial position by $5M through Q1 2024. These steps are taken to support the commercial launch of its FDA-authorized lead product, AspyreRx, for type 2 diabetes treatment.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 12:50 pm

PXS

Pyxis Tankers has agreed to purchase an eco-efficient Kamsarmax dry bulk vessel, equipped with a ballast water treatment system and scrubber, for $26.625 million. The acquisition will be financed through bank debt and cash.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 12:49 pm

BX

JPM

Blackstone Inc. (NYSE:BX) is looking to capitalize on real estate opportunities in Europe, focusing on data centers, warehouses, and student housing, as central banks ease up on rate hikes. Blackstone CEO Steve Schwarzman expressed optimism about the deal market and highlighted the U.K. as an attractive investment destination. The company recently participated in a major buyout of Adevinta ASA, valued at around €14 billion. The news comes as Blackstone's shares saw a slight premarket increase.

Portfolio Pulse from Nabaparna Bhattacharya

November 28, 2023 | 12:16 pm

AAL

Graphyte, a company specializing in carbon removal, has signed its first purchase agreement with American Airlines for the removal of 10,000 tons of carbon dioxide. This deal marks a significant step for Graphyte in the carbon offset market and demonstrates American Airlines' commitment to reducing its carbon footprint.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 12:11 pm

ADBE

EWU

The UK Competition and Markets Authority (CMA) has provisionally found that Adobe's planned acquisition of Figma could lead to a substantial lessening of competition. This preliminary finding may impact the final approval of the deal.

Portfolio Pulse from Charles Gross

November 28, 2023 | 12:09 pm