Streetbeat News

Acquisitions Mergers

AMD

AMZN

MSFT

NVDA

ORCL

Oracle Corp is investing billions of dollars in Nvidia Corp chips to expand its cloud computing service targeting the AI boom. The company is also investing heavily in central processor units from Ampere Computing and Advanced Micro Device Inc. Oracle's cloud division is working to compete with larger rivals like Amazon Web Services and Microsoft Corp. In June, Oracle reported a 17% YoY increase in Q4 revenue to $13.8 billion, beating analyst estimates.

Portfolio Pulse from Anusuya Lahiri

June 29, 2023 | 11:37 am

Visa Inc has agreed to acquire Pismo, a cloud-native issuer processing and core banking platform, for $1 billion in cash. The acquisition will enable Visa to provide core banking and issuer processing capabilities across various card types and support for emerging payment rails. The deal is expected to close by the end of 2023. Mastercard Inc was also in the race to acquire Pismo.

Portfolio Pulse from Anusuya Lahiri

June 29, 2023 | 11:31 am

CSV

The board of Carriage Services has initiated a process to explore potential strategic alternatives, including a possible sale of the company.

Portfolio Pulse from Benzinga Newsdesk

June 29, 2023 | 11:01 am

LLY

SGTX

Eli Lilly has agreed to acquire Sigilon Therapeutics. The deal involves a tender offer to acquire all outstanding shares of Sigilon for $14.92 per share in cash, plus one non-tradeable contingent value right per share that could add up to an additional $111.64 per share in cash. The total potential consideration could reach up to $126.56 per share in cash, amounting to approximately $309.6 million excluding shares held by Lilly.

Portfolio Pulse from Benzinga Newsdesk

June 29, 2023 | 10:50 am

CIR

KKR

Arcline has proposed to acquire CIRCOR for $57.00 per share and expects to receive the necessary regulatory approvals. The overlap with Arcline's portfolio companies is negligible as CIRCOR operates in a highly competitive and fragmented sector.

Portfolio Pulse from Benzinga Newsdesk

June 29, 2023 | 10:03 am

ATVI

MSFT

Microsoft CEO Satya Nadella expressed his desire to eliminate console-exclusive games, blaming Sony's dominance and its strategy of using exclusives to drive sales. This statement was made during Microsoft's legal battle against the US Federal Trade Commission (FTC) over its proposed acquisition of Activision Blizzard. The FTC has sued to block the deal, citing potential adverse impacts on consumer choice and competition.

Portfolio Pulse from Rounak Jain

June 29, 2023 | 9:36 am

KEYS

Keysight Technologies, Inc. (NYSE:KEYS) has announced plans to acquire ESI Group SA for 913 million euros. ESI Group is a leading innovator of virtual prototyping solutions in automotive and aerospace end markets.

Portfolio Pulse from Charles Gross

June 29, 2023 | 8:52 am

BRKA

BRKB

OXY

Warren Buffett's Berkshire Hathaway has increased its stake in Occidental Petroleum Corp to 25% with a $122M share purchase. This follows a $201M purchase in mid-May. Occidental is an upstream oil and gas company with reserves in the U.S., the Middle East, and North Africa. Despite a year-to-date decrease of 8.2%, analysts expect oil prices to recover with global economic growth.

Portfolio Pulse from Shanthi Rexaline

June 29, 2023 | 8:26 am

RIDE

Lordstown Motors Corp. (NASDAQ:RIDE) CEO Ed Hightower's trip to Taiwan to meet with Foxtron, an affiliate of Foxconn Technology Group, ended unsuccessfully. Despite spending three days in isolation due to Covid-19 protocols, Hightower was unable to secure the necessary engineering drawings, data, and licensing agreements from Foxtron. Lordstown Motors filed for bankruptcy after failing to establish a partnership with Foxconn and also sued Foxconn for breach of contract and fraud. Lordstown is currently seeking another automaker to partner with.

Portfolio Pulse from Benzinga Newsbot

June 29, 2023 | 5:14 am

ATVI

MSFT

Microsoft CEO Satya Nadella expressed his dislike for exclusive deals between game companies and consoles at a federal court hearing. This comes as U.S. regulators attempt to prevent Microsoft's acquisition of Activision Blizzard. Microsoft plans to make certain Activision games more widely available if the acquisition goes through. However, Sony has not accepted Microsoft's offer and opposes the acquisition. The FTC is concerned that the acquisition could allow Microsoft to withhold popular games from other consoles or degrade service for those games elsewhere.

Portfolio Pulse from Happy Mohamed

June 28, 2023 | 11:41 pm