Streetbeat News

Acquisitions Mergers

ROK

Rockwell Automation, Inc. (NYSE:ROK) has announced a definitive agreement to acquire Verve Industrial Protection, a cybersecurity software and services company. The acquisition is expected to expand Rockwell's cybersecurity offerings, addressing the increasing threat of operational technology and industrial control systems attacks. The deal is subject to customary approvals and is expected to close in the first quarter of Rockwell's fiscal year 2024.

Portfolio Pulse from Benzinga Newsdesk

October 23, 2023 | 12:52 pm

SHOO

Steven Madden Ltd (NASDAQ:SHOO) has completed the acquisition of privately held apparel designer Almost Famous for $52 million in cash, plus an earn-out provision based on future financial performance. Almost Famous had revenue of approximately $163 million in the 12 months ended September 30, 2023. SHOO shares closed lower by 0.48% at $33.23 on Friday.

Portfolio Pulse from Shivani Kumaresan

October 23, 2023 | 12:47 pm

DDD

Icon Technologies Limited, a thermoforming and rotational molding company, has purchased an EXT 1270 Titan Pellet 3D printer from 3D Systems (NYSE:DDD). The printer is expected to significantly reduce lead time and cost associated with mold production. Icon is the first manufacturer in Canada to integrate this 3D printer into its production workflow. The EXT 1270 Titan Pellet system is designed to leverage low-cost thermoplastic pellet feedstocks and can print large thermoforming tools, such as those required by Icon.

Portfolio Pulse from Benzinga Newsdesk

October 23, 2023 | 12:44 pm

INPX

Inpixon (NASDAQ:INPX) has announced a definitive agreement for its UK-based subsidiary, Inpixon Ltd., to be acquired by private Canadian company, Damon Motors Inc. The deal includes a spin-off of Inpixon UK and a merger with Damon Motors, with plans for a Nasdaq listing of the combined company. Damon Motors, known for its HyperSport electric motorcycle, has reported approximately $85 million in pre-production consumer reservations. The enterprise value of Damon was estimated to be between $224 million and $284 million. This transaction is separate from the pending merger between Inpixon and XTI Aircraft, Inc.

Portfolio Pulse from Benzinga Newsdesk

October 23, 2023 | 12:35 pm

INDV

Indivior has obtained the rights to develop Alar Pharmaceuticals' portfolio of long-acting injectable formulations, leading to a rise in Indivior's share prices.

Portfolio Pulse from Luke J Jacobi

October 23, 2023 | 12:22 pm

ROIV

Roivant has sold its 75% stake in Telavant to Roche for $7.1B, causing Roivant's shares to trade higher.

Portfolio Pulse from Luke J Jacobi

October 23, 2023 | 12:19 pm

ESMT

EngageSmart announced that it will be acquired by Vista Equity Partners for $23 per share. This has led to a rise in the company's stock price.

Portfolio Pulse from Luke J Jacobi

October 23, 2023 | 12:15 pm

ICAD

iCAD, Inc. has announced the sale of its Xoft Brachytherapy business line to Elekta for approximately $5.5 million.

Portfolio Pulse from Benzinga Newsdesk

October 23, 2023 | 12:09 pm

AMN

AMN Healthcare (NYSE:AMN) has announced a definitive agreement to acquire MSDR, which includes healthcare staffing companies Medical Search International (MSI) and DRW Healthcare Staffing, for $300 million. The acquisition is expected to close in Q4 2023 and will be funded with a combination of cash on hand and borrowings on AMN's revolving credit facility. The deal is expected to be modestly accretive to AMN's adjusted EPS in the first twelve months.

Portfolio Pulse from Happy Mohamed

October 23, 2023 | 12:08 pm

TPET

Trio Petroleum Corp. (NYSE:TPET) has secured a four-month option to acquire a natural gas prospect in the Sacramento Basin, California. The prospect has the potential to produce an estimated 40 billion cubic feet of gas and is fully leased with permitting for an exploration well in an advanced stage. The company believes this acquisition could provide significant natural gas production and cash flow, diversifying its assets and ensuring its growth.

Portfolio Pulse from Happy Mohamed

October 23, 2023 | 12:07 pm