Streetbeat News

Acquisitions Mergers

NIXX

Nixxy, Inc. (NASDAQ:NIXX) shares surged by 120% following updates on its acquisition strategy and a goal to reach a $1 billion valuation. The company is focusing on acquiring profitable businesses in traditional markets and enhancing operations with technology. Nixxy has signed a licensing agreement with GoLogiq for the Radix AI platform and is in advanced negotiations with seven acquisition targets.

Portfolio Pulse from Lekha Gupta

October 17, 2024 | 2:58 pm

NVACF

SNDL

Nova Cannabis shareholders have approved the acquisition by SNDL Inc., where SNDL will acquire all Nova shares for either cash or SNDL shares. The deal, valued at approximately $29.1 million, aims to enhance SNDL's cannabis retail portfolio and generate cost savings. The acquisition is expected to close by October 18, 2024, pending court approval.

Portfolio Pulse from Jelena Martinovic

October 17, 2024 | 2:01 pm

PIXY

ShiftPixy, Inc. (NASDAQ:PIXY) has announced the acquisition of TurboScale, an AI technology company, for $150 million. This acquisition aims to enhance ShiftPixy's workforce management capabilities with AI-powered features. The deal is structured with $75 million in stock and $75 million in debt. Following the announcement, PIXY shares surged by 149.8% in premarket trading.

Portfolio Pulse from Nabaparna Bhattacharya

October 17, 2024 | 1:24 pm

FLEX

Flex (NASDAQ:FLEX) is acquiring Crown Technical Systems for $325 million in an all-cash deal. This acquisition will enhance Flex's capabilities in power distribution and protection systems, and is expected to be accretive in the first year.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2024 | 1:12 pm

XRX

Xerox Holdings Corporation has announced its acquisition of ITsavvy for $400 million, aiming to expand its IT services. The deal includes a $180 million cash payment and $220 million in promissory notes, subject to adjustments. The acquisition is expected to close in Q4 2024, pending merger clearance.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2024 | 1:11 pm

CSL

Carlisle Companies is set to acquire Plasti-Fab for $259.5 million, aiming to strengthen its position in the $1.5 billion North American expanded polystyrene insulation market. The acquisition is expected to generate $14 million in annual synergies and contribute $0.30 to EPS by 2025.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2024 | 1:08 pm

BABA

JTEK

NVDA

PGJ

Alibaba is increasing its AI investments in Lazada to compete with Shopee and TikTok Shop in Southeast Asia's e-commerce market. The company aims to enhance personalized shopping and logistics, targeting $100 billion in e-commerce volume by 2030. Alibaba's stock has risen 21% recently due to China's economic measures.

Portfolio Pulse from Anusuya Lahiri

October 17, 2024 | 1:02 pm

PPG

American Industrial Partners is set to acquire PPG's U.S. and Canadian architectural coatings business, which generated $2 billion in revenue in 2023. The deal is expected to close by early 2025, pending customary conditions.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2024 | 12:47 pm

KZR

Kezar Life Sciences' Board has rejected Concentra Biosciences' acquisition proposal, citing undervaluation. The Board also adopted a stockholder rights plan to protect against Concentra's rapid stock accumulation.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2024 | 12:45 pm

NIXX

Nixxy shares are trading higher following updates on its business strategy, including acquisitions in traditional markets and improvements in operations through technology and data analytics.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2024 | 12:38 pm