Streetbeat News

Acquisitions Mergers

CRWD

CrowdStrike (NASDAQ:CRWD) has announced its intention to acquire Bionic, a pioneer in Application Security Posture Management (ASPM). The acquisition will extend CrowdStrike's Cloud Native Application Protection Platform with ASPM, providing comprehensive risk visibility and protection across the entire cloud estate. The deal was announced following CrowdStrike's Q2 FY24 financial results, which showed a record quarter for its fast-growing cloud security business. The acquisition is expected to close during CrowdStrike's fiscal third quarter.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 1:02 pm

REZI

Resideo Technologies (NYSE:REZI) has announced a definitive agreement to sell its Genesis Cable business to Southwire Company for approximately $87.5 million. The transaction is expected to close within the next 30 days. The sale is part of Resideo's strategy to optimize its product portfolio and focus on long-term strategy and margin goals. The transaction is expected to have minimal impact on Resideo's Q4 2023 operating income and be immediately accretive to Products & Solutions gross and operating margin. Resideo plans to use the proceeds for ongoing investment and to support capital return to shareholders through a share repurchase program.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 12:37 pm

DM

SSYS

Stratasys Ltd. (NASDAQ:SSYS) has sent a letter to its shareholders urging them to vote in favor of all the company's proposals related to its previously announced merger agreement with Desktop Metal, Inc. (NYSE:DM). The vote will take place at the Stratasys Extraordinary General Meeting of Shareholders on September 28, 2023.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 12:13 pm

BIAF

Bioaffinity has acquired the laboratory assets of Village Oaks Pathology Services, also known as Precision Pathology Services, a clinical laboratory for $3.5M. The deal includes $2.5M in cash and $1M in Bioaffinity stock.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 12:08 pm

ARHH

Assure Holdings Corp. is exploring strategic alternatives, which may include an acquisition, merger, business combination, sale of assets, or other strategic or financial transaction. However, there is no guarantee that this review process will result in a transaction or that any transaction, if pursued, will be completed.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 12:06 pm

CLAR

Clarus Corporation (NASDAQ:CLAR) has received a non-binding offer of $160 million from its Executive Chairman, Warren B. Kanders, to acquire its Precision Sport segment, which includes Sierra Bullets and Barnes Bullets subsidiaries. The offer is on a cash-free, debt-free basis.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 12:05 pm

BSX

Boston Scientific has agreed to acquire Relievant Medsystems for an upfront cash payment of $850M and undisclosed additional contingent payments based on sales performance over the next three years.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 11:02 am

HUT

Hut 8 Mining Corp. (HUT) is progressing on its proposed all-stock merger with U.S. Data Mining Group, Inc. dba US Bitcoin Corp (USBTC). The combined company will be named Hut 8 Corp., a U.S.-domiciled entity, and is expected to be a large scale, publicly traded Bitcoin miner with diversified revenue streams and industry leading ESG practices.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 10:32 am

HYW

Hywin Holdings Ltd. (NASDAQ:HYW), a wealth management service provider in China, has won a bid to acquire land use rights and above-ground construction in Boao Lecheng, Hainan Province, China. The property will be used to build Hywin's first integrated health management center pilot project.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 10:02 am

BGNE

NVS

BeiGene has entered an agreement with Novartis to regain worldwide rights to develop, manufacture, and commercialize TEVIMBRA (Tislelizumab). The previous collaboration and license agreement from January 2021 has been terminated, and BeiGene now has full global rights to TEVIMBRA without any royalty payments due to Novartis.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 10:01 am