Streetbeat News

Acquisitions Mergers

GLLI

Globalink Investment Inc., a special purpose acquisition company, has extended the deadline to complete its initial business combination from November 9, 2023 to December 9, 2023. This extension is the fifth of five extensions permitted under the company's governing documents. To facilitate this, Globalink deposited $130,000 into its trust account with Continental Stock Transfer and Trust Company.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 12:53 pm

CARS

Cars.com has reiterated its FY23 revenue growth of 4% - 6% YoY, with Q4 revenue expected to be between $177 million and $179 million. This growth is driven by continued dealer and OEM adoption of the Cars Commerce Platform, as well as the acquisition of D2C Media Inc. Adjusted EBITDA margin for Q4 is expected to be between 29.5% and 30.5%.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 11:56 am

ALTG

Alta Equipment Group (ALTG) has announced the acquisition of Ault Industries Inc. for $36.0M. This move could potentially expand ALTG's market reach and improve its financial performance.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 11:33 am

NEWR

TPG

New Relic's stockholders have voted in favor of the company's acquisition by Francisco Partners and TPG. The decision was made during a special meeting held recently.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 11:32 am

CARS

Cars.com Inc. (NYSE:CARS) has acquired D2C Media Inc., a leading automotive technology and digital solutions provider in Canada, for $76M in cash. The payment was funded by a combination of cash on hand and borrowings under the company's existing revolving credit facility. There is also a potential for additional performance-based consideration of up to $25M based on the achievement of certain financial thresholds.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 11:29 am

ALGM

Allegro Microsystems has provided its Q3 guidance, expecting net sales to be between $250M-$260M, lower than the estimated $268.9M. The adjusted EPS is expected to be $0.27-$0.31, lower than the estimated $0.36. The guidance includes two months of activity from the recently acquired Crocus Technologies, which is expected to add $5M to net sales but be $0.03 dilutive to EPS.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 11:15 am

IRM

Iron Mountain is set to acquire Regency Technologies for an initial purchase price of $200M, with $125M to be paid at close and the remainder due in 2025.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 10:51 am

OLIT

OmniLit Acquisition Corp. (OLIT) shares surged 200% in premarket trading after the company announced that its merger with Syntec was approved by shareholders.

Portfolio Pulse from Charles Gross

November 02, 2023 | 10:27 am

ACN

Accenture has announced the acquisition of Innotec Security, a move aimed at expanding its capabilities and footprint in Spain. The financial terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 10:26 am

BWV

Blue Water Biotech has signed a non-binding term sheet to acquire a commercial stage oncology company. The details of the deal and the name of the oncology company have not been disclosed.

Portfolio Pulse from Charles Gross

November 02, 2023 | 10:21 am