Streetbeat News

Acquisitions Mergers

MIXT

PWFL

PowerFleet, Inc. (NASDAQ:PWFL) and MiX Telematics Limited (NYSE:MIXT) have announced a definitive agreement to merge, forming one of the largest mobile asset IoT SaaS providers globally. The combined business will have a total revenue of $279 million, including $210 million in recurring high-margin SaaS revenue. The transaction is expected to close in Q1 2024, and the combined business will be branded as Powerfleet, listed on Nasdaq.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2023 | 11:07 am

HUT

Hut 8 Mining Corp. (Nasdaq: HUT) mined 111 Bitcoin in September 2023, with no Bitcoin sold during the month. The total balance of Bitcoin in reserve was 9,366. The company also received approval for a business combination with U.S. Data Mining Group, Inc. dba US Bitcoin Corp.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2023 | 10:33 am

HAE

OPSSF

Haemonetics has agreed to acquire Opsens for C$2.90 per share in an all-cash transaction, representing a fully diluted equity value of approximately $253M at the current exchange rate.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2023 | 10:07 am

BEEM

Beam Global has signed a stock purchase agreement to acquire Europe-based Amiga DOO Kraljevo. The transaction, valued at approximately €10 million, is expected to close in early Q4 2023. Post-acquisition, Amiga will be rebranded as Beam Europe.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2023 | 10:06 am

SMX

Security Matters (SMX) has signed an agreement to acquire an additional 7.5% equity stake in True Gold Consortium, increasing its common share holdings to 51.9%. This acquisition is expected to benefit from SMX's traceability, verification, and certification technology.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2023 | 9:31 am

PFSW

XPO

Transcosmos has announced its decision to tender all its outstanding shares in PFSweb, Inc. (16.2% of all outstanding shares) to GXO Logistics, Inc. The decision was made at the company's management meeting held on October 10, 2023.

Portfolio Pulse from Charles Gross

October 10, 2023 | 9:02 am

BRO

Insurance broker Brown & Brown, Inc. (BRO) has completed its previously announced acquisition of Kentro Capital Limited.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2023 | 6:40 am

ACHR

CRSP

SQ

Ark Invest, led by Cathie Wood, made significant purchases of shares in Block Inc, Archer Aviation, and CRISPR Therapeutics on Monday. The fund also bolstered its positions in Pacific Biosciences of California, Ginkgo Bioworks Holdings, and Markforged Holding Corp. The purchases were made through various Ark ETFs, including ARK Innovation ETF, ARK Next Generation Internet ETF, ARK Autonomous Technology & Robotics ETF, and ARK Genomic Revolution ETF.

Portfolio Pulse from Benzinga Neuro

October 10, 2023 | 2:45 am

MSFT

NVDA

Microsoft Corporation is set to unveil its first-ever AI chip at its annual developers' conference, a move aimed at reducing dependence on Nvidia and enhancing its AI capabilities. The company is also on track to finalize its $69 billion acquisition of gaming giant Activision Blizzard by October 13th, pending approval from the UK antitrust regulator.

Portfolio Pulse from Mohit Manghnani

October 09, 2023 | 10:01 pm

EMR

H

NATI

Hyatt Hotels will replace National Instruments in the S&P MidCap 400, effective prior to the opening of trading on October 12. This follows the acquisition of National Instruments by S&P 500 constituent Emerson Electric Co., which is expected to be completed soon.

Portfolio Pulse from Benzinga Newsdesk

October 09, 2023 | 9:21 pm