Streetbeat News

Acquisitions Mergers

META

SSTK

Shutterstock has agreed to acquire GIPHY, a growing library of conversational content, for $53 million of net cash from Meta Platforms. The transaction is expected to close in June 2023 and will help Shutterstock enter the advertising market. Analysts have mixed opinions on the acquisition's impact on Shutterstock's stock.

Portfolio Pulse from Anusuya Lahiri

May 24, 2023 | 6:39 pm

APGN

PFE

PYXS

Pyxis Oncology (NASDAQ:PYXS) has agreed to acquire Apexigen (NASDAQ:APGN) in an all-stock transaction valued at $0.64 per share, with a total enterprise value of $16 million. The deal is expected to close by mid-2023, and the combined company will trade under the ticker symbol PYXS.

Portfolio Pulse from Vandana Singh

May 24, 2023 | 6:28 pm

RPD

Rapid7 shares are trading higher due to a Betaville rumor suggesting a large U.S.-listed technology company is participating in the auction process to buy Rapid7.

Portfolio Pulse from Benzinga Newsdesk

May 24, 2023 | 5:56 pm

PTC

BMO Capital Markets analyst Daniel Jester initiated coverage on PTC Inc (NASDAQ:PTC) with an Outperform rating and a price target of $166. Jester is bullish on PTC's acquisition of ServiceMax, expecting it to be accretive to PTC's SaaS ARR and cash flow in 2023. He estimates revenues of $2.12 billion and adjusted EPS of $4.44 in FY23, and revenues of $2.38 billion and adjusted EPS of $5.30 in FY24.

Portfolio Pulse from Lekha Gupta

May 24, 2023 | 5:54 pm

AVID

Avid Technology is reportedly working with Goldman Sachs to explore a potential sale, causing its shares to trade higher.

Portfolio Pulse from Benzinga Newsdesk

May 24, 2023 | 5:51 pm

RPD

Rapid7 shares are moving higher as traders circulate a Betaville rumor suggesting a large U.S.-listed technology company is participating in the auction process to buy Rapid7.

Portfolio Pulse from Happy Mohamed

May 24, 2023 | 5:30 pm

AVID

GS

Avid Technology Inc is reportedly working with Goldman Sachs Group Inc to explore a potential sale of the company.

Portfolio Pulse from Happy Mohamed

May 24, 2023 | 5:20 pm

APGN

PYXS

Pyxis Oncology (NASDAQ:PYXS) has announced a $16 million acquisition of Apexigen (NASDAQ:APGN), expected to be completed in the second half of 2023. Pyxis Oncology will give Apexigen $16 million in stock in exchange for APGN stock.

Portfolio Pulse from Benzinga Insights

May 24, 2023 | 4:21 pm

ATVI

EWU

MSFT

Microsoft plans to file a formal appeal against the UK Competition and Markets Authority's (CMA) decision to block its $75bn takeover of Activision Blizzard. The deal has been approved in other jurisdictions, including the EU and China.

Portfolio Pulse from Happy Mohamed

May 24, 2023 | 4:16 pm

AQUA

XYL

Xylem Inc has completed its acquisition of Evoqua Water Technologies Corp in an all-stock transaction worth $7.5 billion. The deal strengthens Xylem's position in water treatment solutions and creates a global platform for addressing water challenges.

Portfolio Pulse from Lekha Gupta

May 24, 2023 | 4:07 pm