Streetbeat News

Acquisitions Mergers

FIS

Fidelity National Information Services (FIS) has agreed to sell a 55% stake in its Worldpay Merchant Solutions business to private equity funds managed by GTCR, valuing the business at $18.5 billion. FIS will retain a 45% stake and receive net proceeds of approximately $11.7 billion. The deal is expected to close by Q1 2024. FIS also previewed its Q2 2023 results, expecting to be above the mid-point of its revenue guidance.

Portfolio Pulse from Nabaparna Bhattacharya

July 06, 2023 | 12:55 pm

HNHPF

MSFT

NVDA

SFTBF

SoftBank Group Corp has joined a $170 million funding round for Tokyo-based robot maker Telexistence Inc. The funds will be used to expand to the U.S. and increase headcount. Telexistence will enter a strategic partnership with SoftBank Robotics Group Corp to commercialize its robots in North America. The company already collaborates with Microsoft Corp and Nvidia Corp. Foxconn is investing via a joint fund set up with CTBC.

Portfolio Pulse from Anusuya Lahiri

July 06, 2023 | 12:55 pm

ALAR

Alarum Technologies Ltd has entered into a definitive agreement with TerraZone for the sale of its enterprise cybersecurity business. Alarum's consideration for this transaction is 7% of the fully diluted share capital of TerraZone. The company expects this move to enhance revenue and profitability of its comprehensive suite of solutions to its enterprise internet access customers.

Portfolio Pulse from Happy Mohamed

July 06, 2023 | 12:37 pm

UP

Portside has acquired the licensing rights for Avianis from Wheels Up. The financial terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

July 06, 2023 | 12:33 pm

SHIP

Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) has repurchased 362,161 common shares at an average price of $4.35 per share, representing a 11.2% discount from the closing price of July 5, 2023. The company also entered into a 12-month bareboat charter agreement with a third party in Japan for a Newcastlemax dry bulk vessel. Seanergy has advanced a down payment of $3.5 million and will pay an additional $3.5 million on delivery of the vessel, as well as a daily bareboat rate of $9,000 over the charter period. Seanergy has an option to purchase the vessel for $20.2 million after 12 months.

Portfolio Pulse from Happy Mohamed

July 06, 2023 | 12:32 pm

AAPL

C

ERIC

HSBC

JPM

NOK

Reliance Jio Infocomm is set to sign a $1.7 billion contract with Nokia Corp to purchase 5G network equipment. The deal, backed by HSBC Holdings, JP Morgan Chase & Co, and Citigroup, Inc, is expected to be finalized this week. This follows Nokia's recent patent cross-license deal with Apple Inc and Ericsson's partnership with Jio to build a 5G standalone network in India.

Portfolio Pulse from Anusuya Lahiri

July 06, 2023 | 12:22 pm

SPY

VGK

Bulgaria is nearing a deal to sell Russian-made nuclear reactors and other equipment to Ukraine for at least $650M. The U.S. could potentially be involved in financing the deal.

Portfolio Pulse from Happy Mohamed

July 06, 2023 | 12:19 pm

TMO

Thermo Fisher Scientific Inc. (NYSE:TMO) has announced its plans to acquire CorEvitas, LLC, a provider of regulatory-grade, real-world evidence for approved medical treatments and therapies, for $912.5 million in cash. The acquisition is expected to be immediately accretive to Thermo Fisher's adjusted earnings per share. The transaction is expected to be completed by the end of 2023.

Portfolio Pulse from Happy Mohamed

July 06, 2023 | 12:10 pm

DOCN

DigitalOcean has acquired Paperspace for $111 million in cash. The deal is expected to enhance DigitalOcean's capabilities in the cloud computing space.

Portfolio Pulse from Benzinga Newsdesk

July 06, 2023 | 12:02 pm

HRT

HireRight has acquired a majority stake in DTIS. The terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

July 06, 2023 | 12:01 pm