Streetbeat News

Acquisitions Mergers

PRDO

Perdoceo Education has signed a definitive agreement to acquire the University of St. Augustine for Health Sciences (USAHS) for approximately $142M-$144M in cash. The acquisition is expected to close in December 2024 and is anticipated to be accretive to Perdoceo's adjusted operating income starting in 2025. The company remains on track to achieve its FY 2024 adjusted operating income outlook of $175M-$190M.

Portfolio Pulse from Benzinga Newsdesk

July 16, 2024 | 2:06 pm

AMZN

GOOG

GOOGL

MSFT

VOX

XLC

Alphabet Inc. (GOOG, GOOGL) is in advanced talks to acquire cloud security firm Wiz for up to $23 billion, enhancing its cloud security capabilities to compete with Amazon (AMZN) and Microsoft (MSFT). This would be Google's most expensive acquisition to date, following its $5.4 billion acquisition of Mandiant. Wiz, valued at $12 billion, is expected to generate $1 billion in annual revenue by 2025. Alphabet's stock has gained over 43% in the last 12 months.

Portfolio Pulse from Shivani Kumaresan

July 16, 2024 | 1:39 pm

OP

OceanPal Inc. has announced its plan to acquire an MR2 tanker vessel for $27 million. This acquisition is expected to expand the company's fleet and enhance its operational capabilities.

Portfolio Pulse from Benzinga Newsdesk

July 16, 2024 | 1:06 pm

AAPL

Anysphere, an AI startup backed by OpenAI, is raising a new funding round with a valuation of at least $400 million. The company, known for its AI code editor Cursor, has previously raised $11 million. This funding round is supported by A16z.

Portfolio Pulse from Benzinga Neuro

July 16, 2024 | 1:04 pm

AA

Alcoa has announced that its stockholders have approved the proposed acquisition of Alumina Limited. This approval is a significant step forward in the acquisition process.

Portfolio Pulse from Benzinga Newsdesk

July 16, 2024 | 1:01 pm

BX

Blackstone Private Equity Funds are set to acquire Trystar, a leading provider of electrical equipment for backup power solutions. Trystar designs and manufactures critical power solutions for various sectors including data centers, industrial, commercial, healthcare, and utility markets. The acquisition aims to enhance power reliability amidst the ongoing energy transition.

Portfolio Pulse from Benzinga Newsdesk

July 16, 2024 | 1:01 pm

APO

Apollo Funds will acquire The Travel Corporation, which includes 18 leading travel brands. Financial terms were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

July 16, 2024 | 12:38 pm

REBN

Reborn Coffee has signed a Memorandum of Understanding (MOU) to acquire the iconic Korean brand Bbang Ssaem Bakery. This strategic move aims to expand Reborn Coffee's footprint into the coffee and bakery sector, enhancing its offerings and solidifying its position as a premier coffee and bakery franchise in both the U.S. and South Korea.

Portfolio Pulse from Benzinga Newsdesk

July 16, 2024 | 12:32 pm

BLK

BlackRock, Inc. (NYSE:BLK) reported better-than-expected second-quarter earnings, with adjusted EPS beating consensus estimates. Despite missing revenue expectations, the company saw significant organic growth driven by private markets and ETFs. Analysts have raised their price targets for BLK following the earnings report.

Portfolio Pulse from Avi Kapoor

July 16, 2024 | 12:31 pm

ACN

Accenture is set to acquire retail technology services firm Logic to enhance its capabilities in merchandising, stores, digital, analytics, and cloud. This acquisition is expected to boost Accenture's ability to drive technology transformations for retail clients globally. The terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

July 16, 2024 | 12:11 pm