NEW York: Private equity firms KKR and Onex announced Friday that Onex Partners will acquire Integrated Specialty Coverages (ISC), a tech-enabled insurance platform specializing in underwriting and distribution. The deal includes substantial cash payouts for all ISC employees based on their ownership stakes. KKR, which invested in ISC in 2021 through its Americas XII Fund,…
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Intel shares jump 23% as Nvidia to invest $5 billion co-develop chips for PCs and AI data centers
Nvidia Corp. (NVDA.O) said on Thursday it will invest $5 billion in Intel Corp. (INTC.O) and jointly develop chips for personal computers and data centers, a surprise move that sent Intel shares surging 22.8% to $30.57 — their best single-day gain since October 1987. The deal marks a strategic pivot for both companies, with Nvidia…
Alphabet’s $3 trillion triumph: A tech titan reinvents itself in the age of AI
Twenty years ago, Google’s IPO was a bold bet on the future of search. Today, its parent company Alphabet has crossed the $3 trillion threshold, joining the elite ranks of Apple, Microsoft, and Nvidia. But this isn’t just a story about market capitalization—it’s a story of reinvention, resilience, and the relentless pursuit of relevance in…
SpaceX to acquire EchoStar Spectrum for $17 billion, supercharging Starlink’s 5G ambitions
Elon Musk’s SpaceX announced Monday it will acquire wireless spectrum licenses from EchoStar for approximately $17 billion, marking a pivotal move to accelerate the rollout of its Starlink direct-to-cell satellite network and expand its footprint in the competitive 5G connectivity space. The deal includes a strategic partnership enabling Boost Mobile—EchoStar’s prepaid wireless brand—to tap into…
Cognition raises $400 million, joins $10 billion AI startup club after Windsurf acquisition
Artificial intelligence startup Cognition said on Monday it had raised $400 million in a funding round led by Peter Thiel’s funded Founders Fund, valuing the company at $10.2 billion, including the fresh capital. The San Francisco-based firm, known for its AI software engineer Devin, gained prominence in July after acquiring Windsurf, a rival startup whose…
StubHub targets $851 million in NYSE IPO, eyes $9.2 billion valuation
StubHub is seeking to raise up to $851 million in its initial public offering, aiming for a valuation of as much as $9.2 billion, according to a regulatory filing published Monday. The ticket resale platform plans to offer more than 34 million shares priced between $22 and $25 each. The company will list on the…
Freddy’s acquired by Rhône-backed funds in strategic growth move
KANSAS CITY: Freddy’s Frozen Custard & Steakburgers, the fast-casual chain known for its made-to-order steakburgers and frozen custard treats, has been acquired by investment funds affiliated with global private equity firm Rhône. The transaction marks a transition from previous ownership under Thompson Street Capital Partners, a St. Louis-based middle-market investor. The Freddy’s brand, which operates…
Brilliant NextGen secures $9.7 million in funding; Adds Tony Smalls to the Board
SAN FRANCISCO: Brilliant NextGen Inc., a leading innovator in smart home control technology, announced Friday it has closed a $9.7 million funding round backed by Almeida Strategic Investments and NFL quarterback Tyrod Taylor’s Strategic Investments Fund. The company also named Tony Smalls, CPA, CGMA, Partner at MGO and CEO of Smarthome Solutions LLC, to its…
Phreesia to acquire AccessOne for $160 million, expanding patient payment capabilities
NEW YORK: Phreesia Inc. (NYSE: PHR), a leading provider of patient activation solutions, said Thursday it has agreed to acquire AccessOne Parent Holdings Inc., a healthcare receivables financing firm, for $160 million in cash. The deal, expected to close in the third or early fourth quarter of Phreesia’s fiscal 2026, is subject to regulatory approvals…
Cadence to acquire Hexagon’s D&E Business for €2.7 billion
SAN JOSE: Cadence Design Systems Inc. (Nasdaq: CDNS) said Thursday it has agreed to acquire the Design & Engineering business of Hexagon AB, including its MSC Software unit, in a €2.7 billion deal aimed at accelerating Cadence’s Intelligent System Design™ strategy and expanding its footprint in the structural analysis market. Under the terms of the…
Zepp Health acquires Wild.AI to expand hormone-informed coaching for female athletes
MILPITAS: Zepp Health Corp. (NYSE: ZEPP), the parent company of Amazfit, has acquired the core assets and intellectual property of Wild.AI, a women’s wellness platform known for its hormone-informed coaching and performance optimization tools. The deal, finalized in late August, includes proprietary technology and select leadership from Wild.AI. Wild.AI uses physiological and hormonal data to…
Econolite opens fourth U.S. manufacturing facility in San Diego to support BABA compliance
SAN DIEGO: Econolite, a leading provider of intelligent traffic management solutions and a subsidiary of Umovity, announced Thursday the opening of a new 50,000-square-foot manufacturing facility in San Diego, California. The expansion marks the company’s fourth U.S.-based production site and reinforces its commitment to the Build America, Buy America Act (BABA). The state-of-the-art facility will…