Streetbeat News

Acquisitions Mergers

GOOG

SKM

AI startup Anthropic has secured a $100 million investment from South Korean telecommunications company, SK Telecom Co Ltd (NYSE:SKM). The investment comes three months after Anthropic’s Series C funding round which raised $450 million. SK Telecom plans to partner with Anthropic to develop a multilingual large language model for international telecommunications corporations. Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) also invested $300 million in Anthropic to secure a 10% stake.

Portfolio Pulse from AJ Fabino

August 14, 2023 | 4:17 pm

AMZN

GOOGL

MSFT

TSLA

Tesla Inc. is considering expanding its operations into data centers, which could put it in direct competition with Amazon.com Inc, Microsoft Corporation, and Alphabet Inc. A job posting from Tesla for a 'Sr. Engineering Program Manager, Data Center' suggests this move. The data center business is worth over $250 billion, making it attractive to newcomers like Tesla. However, it's unclear whether Tesla's growth in data centers would be strictly an internal move or if it would offer data storage solutions for other companies.

Portfolio Pulse from Chris Katje

August 14, 2023 | 4:08 pm

GE

GE Vernova is set to acquire Greenbird Integration Technology AS, a company specializing in data platforms for utilities. The acquisition will enhance GE Vernova's GridOS, a comprehensive suite of grid orchestration software, by enabling it to aggregate more information from multiple systems. This will allow grid operators to assemble a real-time snapshot of conditions throughout the grid. The move is expected to facilitate the transition to more renewable energy and help manage the increasing complexity of grid operation.

Portfolio Pulse from Happy Mohamed

August 14, 2023 | 3:53 pm

AURC

Aurora Acquisition's shares are trading lower following the announcement that shareholders have approved the proposed business combination with Better. This news has led to a decrease in the stock price of Aurora Acquisition.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2023 | 3:45 pm

CLF

X

Cleveland-Cliffs CEO Lourenco Goncalves has stated that the company's offer for U.S. Steel is more than reasonable, according to CNBC.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2023 | 3:19 pm

CLF

Cleveland-Cliffs CEO, C. Lourenco Goncalves, announced on CNBC that the company has rejected a $7.3 billion buyout offer. The CEO discussed the future of the company, but no specific details were provided.

Portfolio Pulse from Happy Mohamed

August 14, 2023 | 3:14 pm

CLF

Cleveland-Cliffs CEO, C. Lourenco Goncalves, announced on CNBC that the company has rejected a $7.3 billion buyout offer. The CEO discussed the future of the company, but no specific details were provided.

Portfolio Pulse from Happy Mohamed

August 14, 2023 | 3:14 pm

HRMY

ZYNE

Harmony Biosciences (NASDAQ:HRMY) has announced the acquisition of Zynerba Pharmaceuticals (NASDAQ:ZYNE) for $200 million in cash, expected to be completed in Q4 of 2023. Harmony Biosciences is a commercial-stage pharmaceutical company focused on developing therapies for rare neurological diseases. Zynerba Pharmaceuticals is focused on developing synthetic cannabinoid therapeutics.

Portfolio Pulse from Benzinga Insights

August 14, 2023 | 3:10 pm

MOND

Mondee Holdings Inc (NASDAQ:MOND) has acquired Skypass Travel Inc for approximately $15 million in cash and stock. The acquisition is expected to support Mondee's expansion and diversification efforts, particularly in serving international corporations and small and midsize businesses. Mondee plans to use its AI-Powered Travel Marketplace and technology to enhance services and generate additional revenue. Skypass had a gross revenue of $45 million and adjusted EBITDA of $4 million in 2022.

Portfolio Pulse from Shivani Kumaresan

August 14, 2023 | 3:04 pm

X

United Steel Workers Union International President has stated that no other bidders have reached out to court support for acquiring U.S. Steel.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2023 | 3:02 pm