Streetbeat News

Acquisitions Mergers

ATVI

MSFT

TSLA

Tesla CEO Elon Musk praised Diablo IV, a video game title from Activision Blizzard Inc (NASDAQ:ATVI), which saw huge sales figures. Diablo IV sold more than 10 million copies and broke several company records during its second-quarter financial results. Activision Blizzard reported net bookings growth of 50% year-over-year in the second quarter. The company is in the process of being acquired by Microsoft Corp (NASDAQ:MSFT). Musk's love of video games could play into the inclusion of Tesla Arcade, a platform that allows the playing of video games inside Tesla Inc (NASDAQ:TSLA) vehicles.

Portfolio Pulse from Chris Katje

August 07, 2023 | 9:34 pm

MXL

SIMO

Maxlinear has commented on a letter from Silicon Motion regarding a previously terminated transaction. Maxlinear remains entirely confident in its decision to terminate the agreement with Silicon Motion.

Portfolio Pulse from Charles Gross

August 07, 2023 | 9:12 pm

RACY

Relativity Acquisition Corp. (NASDAQ:RACY) has extended the deadline to complete its business combination with SVES LLC and related entities to November 15, 2023. The extension is the first of two three-month extensions permitted under Relativity's governing documents. An aggregate amount of $1,000.00 from Relativity's working capital was deposited into its trust account for its public stockholders.

Portfolio Pulse from Happy Mohamed

August 07, 2023 | 9:11 pm

FCPT

Four Corners Property Trust (FCPT), a real estate investment trust, has announced the acquisition of a Jiffy Lube property for $1.6 million. This acquisition is part of FCPT's strategy to own and acquire high-quality, net-leased restaurant and retail properties.

Portfolio Pulse from Charles Gross

August 07, 2023 | 9:07 pm

KKR

PARA

PARAA

Paramount Global reported Q2 earnings with revenue of $7.62 billion, down 2% YoY but beating the consensus estimate of $7.43 billion. EPS was 10 cents, beating the estimate of a loss of 1 cent per share. Paramount+ hit 61 million subscribers and was the top premium streaming service in the U.S. for signups in Q2. The company also announced the sale of Simon & Schuster to KKR & Co for $1.62 billion in an all-cash deal.

Portfolio Pulse from Chris Katje

August 07, 2023 | 8:42 pm

SEAT

Vivid Seats has announced the acquisition of Wavedash for approximately $61 million in cash.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2023 | 8:34 pm

BUD

TLRY

Tilray Brands has announced an agreement to acquire eight beer and beverage brands from Anheuser-Busch. The pro forma revenue from this acquisition is expected to be around $300 million.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2023 | 8:30 pm

FIVN

Five9 has entered into a definitive agreement to acquire Aceyus. The terms of the deal have not been disclosed. The acquisition will allow Five9 to access contextual data to optimize, predict, and deliver personalized customer journeys. The transaction is expected to close by the end of Q3 2023.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2023 | 8:14 pm

KKR

PARA

Private equity firm KKR is set to acquire Simon & Schuster from Paramount Global for $1.62 billion in an all-cash transaction. Post-acquisition, Simon & Schuster will operate as a standalone private company under the leadership of its current CEO and CFO.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2023 | 8:04 pm

ACMR

ACM Research Inc (NASDAQ:ACMR) has been reiterated with a Buy rating by Benchmark and Needham analysts, with price targets of $32 and $18 respectively. The company posted strong 2Q23 results and maintained its sales guidance range of $515 million - $585 million for the year. The firm is expanding its customer base in the U.S. and Europe and is gaining market traction. It is also on track with international expansion and is acquiring land for a new R&D and production center to serve the Korean market better.

Portfolio Pulse from Anusuya Lahiri

August 07, 2023 | 6:43 pm