Posts filtered by tags: Buyouts[x]


 

Americans Are Already Moving Away From the Rising Water's Edge

The U.S. is slowly being gripped by a flooding crisis as seas rise and waterways overflow with ever more alarming frequency. An idea at the forefront for how to help Americans cope is so-called managed retreat, a process of moving away from affected areas and letting former neighborhoods return to nature. It’s an idea …Read more...
Tags: Science, Fema, Sea Level Rise, Floods, Rivers, Buyouts, Managed Retreat


Early-Stage VC Firm Sorenson Ventures Closes Inaugural Fund at $110M

Sorenson Ventures, an offshoot of Utah private equity firm Sorenson Capital, announced today it has closed its first fund with more than $110 million to invest in early-stage security and enterprise software companies.The young venture capital firm was formed in 2017 by Sorenson Capital, which recruited former Intel Capital executive Ken Elefant as managing director. Elefant shares leadership of the VC spinout with Sorenson Capital’s managing director Rob Rueckert. The pairing was a reunion for...
Tags: Startups, Utah, Entrepreneurship, Funding, San Francisco, Trends, Tech, Cybersecurity, Vc, Venture Capital, Machine Learning, Silicon Valley, Financing, Lightspeed Venture Partners, Investor, Intel Capital


GM Offers Buyout to 18,000 Salaried Employees

Wednesday morning, General Motors announced third-quarter 2018 earnings “reflecting profitability in all core operating segments.” Operating profits were at $2.5 billion, with North American profit margins hovering around 10.2 percent thanks to healthy truck sales. All in all, things were looking pretty good. Then GM announced a plan to extend buyouts to salaried employees in the […] The post GM Offers Buyout to 18,000 Salaried Employees appeared first on The Truth About Cars.
Tags: Layoffs, Jobs, General Motors, Gm, Autos, Chevrolet, News Blog, Buyouts, Auto Workers, Severance Packages, Voluntary Severance


BMW Buying Out Brilliance Automotive in China, Adding Capacity for U.S.

Now that China has relaxed its joint-ownership mandates, BMW has announced that it will procure a majority stake in its venture with Brilliance Automotive. The German firm will be the first foreign automaker to have majority control of its business in the region. Being first will not come cheaply, however. It will cost BMW $4.2 billion to […] The post BMW Buying Out Brilliance Automotive in China, Adding Capacity for U.S. appeared first on The Truth About Cars.
Tags: Investments, China, Industry, Tariffs, Autos, Bmw, Daimler, Industry News, Dieter Zetsche, Harald Krueger, BAIC Motor, News Blog, Buyouts, Trade War, Brilliance Automotive


Best Buy Acquires GTCR’s GreatCall for $800M, Eyeing Aging Boomers

Best Buy is paying $800 million in cash for GreatCall, a San Diego-based healthtech company which private equity firm GTCR bought early last year.GreatCall operates a virtual mobile telecommunications network for a customers base of more than 900,000 elderly consumers. The company also sells gadgets, such as mobile devices with large screens and big buttons, wearables that can work with those devices, and emergency alert products. The company operates call centers that help elderly customers us...
Tags: Deals, Minnesota, Internet, Aging, Trends, Web, It, Phone, Smartphone, People, Best Buy, Devices, Software, San Diego, Wireless, Machine Learning


Amid Lawsuit, SEC Investigation, Musk Says Tesla’s Private Funding Will Come From Saudi Arabia

Last week, Tesla CEO Elon Musk announced his intention to take the automaker private. But speculation quickly arose that the claim was just a clever ploy to drive up the company’s share price and burn short sellers, a group Musk seems to have a particular disdain for. This resulted in a shareholder complaint, filed Friday as a […] The post Amid Lawsuit, SEC Investigation, Musk Says Tesla’s Private Funding Will Come From Saudi Arabia appeared first on The Truth About Cars.
Tags: Elon Musk, Saudi Arabia, Tesla, Autos, Shareholders, SEC, Stocks, Automotive Industry, Tesla Motors, Securities And Exchange Commission, Musk, Short Sellers, News Blog, Buyouts


Qualcomm’s Ends Two-Year, $44B Bid for NXP After No Word from China

Qualcomm finally ended its almost two-year bid to acquire Dutch semiconductor maker NXP for as much as $44 billion last night, after it didn’t receive word from Chinese regulators about whether the deal, which was subject to global regulations, would gain approval. Instead, San Diego-based Qualcomm said it plans to repurchase $30 billion of shareholder stock.The lack of approval from the Chinese government was not taken well in the U.S., with speculation that it was related to the escalating tr...
Tags: Deals, Mobile, Internet Of Things, Internet, White House, China, Connected Devices, Trends, Web, It, Smartphone, Car, Innovation, San Diego, Wireless, Mergers & Acquisitions


A Need for Speed: Illumina Acquires San Diego’s Edico Genome

With the Bio-IT World Conference opening today in Boston, San Diego-based Illumina (NASDAQ: [[ticker:ILMN) said it has acquired Edico Genome, a five-year-old startup with  technology to accelerate the readout of next-generation sequencing data. Illumina withheld terms of the deal in a statement released this morning. But an Illumina spokeswoman later confirmed that Illumina got Edico for $100 million, close to three times the estimated $32 million that Edico raised in venture funding from...
Tags: Deals, Startups, Hardware, Entrepreneurship, Trends, People, Devices, Vc, Software, Healthcare, Innovation, Venture Capital, San Diego, Genomics, Mergers & Acquisitions, Illumina


Seismic Acquires Savo Group, Rival in Sales Enablement Software

In the eight years since it was founded, Seismic has become a leader in the market for Web-based software used by corporations and other big customers to manage the online marketing materials created to support sales reps in the field. Today, the San Diego software-as-a-service company says it has agreed to acquire the Chicago-based Savo Group, a Seismic competitor in a still-emerging field known as “sales enablement” software, and one of the first companies in the field. Financial terms ...
Tags: Deals, Startups, Internet, Trends, Web, It, People, Software, Chicago, Innovation, San Diego, M&a, Mergers & Acquisitions, Showpad, Acquisitions, David Keane


President Trump Prohibits Broadcom from Acquiring Qualcomm

In a surprising statement late today from the White House, President Donald Trump unilaterally prohibited Broadcom’s proposed takeover of Qualcomm (NASDAQ: QCOM), the world’s biggest maker of chips for smartphones. Citing a recommendation from a national security panel and other factors set forth under federal law, the statement also proclaims that all candidates that Broadcom (NASDAQ: AVGO) nominated for Qualcomm’s board “are hereby disqualified from standing for election.” The two compa...
Tags: Deals, Mobile, Internet, White House, Singapore, Trends, Web, It, Innovation, San Diego, Wireless, Mergers & Acquisitions, Executive Order, Donald Trump, Qualcomm, Broadcom


Proper Media Acquires Spoutable, Last Piece of Venture Studio

After learning that Proper Media, a San Diego specialist in programmatic digital advertising had acquired Spoutable, it took a couple weeks to catch up with Spoutable CEO Jon Belmonte and ask: What happened to Cursive Labs? Spoutable began more than three years ago as part of Cursive Labs, a kind of holding company for startups that was founded with $2.2 million on a “venture studio” model that allows experienced entrepreneurs to run with their own ideas. As Belmonte explained in 2015, “I...
Tags: Deals, Startups, Trends, People, Software, San Diego, M&a, Mergers & Acquisitions, Adtech, Belmonte, National blog main, National top stories, San Diego blog main, San Diego top stories, Buyouts, Proper Media


Take the Cash, Hit the Bricks: Nearly 2,500 Korean Workers Opt for GM’s Voluntary Redundancy Package

Union officials have stated that roughly 2,500 workers from General Motors’ South Korean unit have applied for a redundancy package offered as part of the automaker’s comprehensive restructuring of the region. The number represents around 15 percent of total GM staff in the area and should make negotiations with one of the most inflexible workers’ unions on […] The post Take the Cash, Hit the Bricks: Nearly 2,500 Korean Workers Opt for GM’s Voluntary Redundancy Package appeared first on The Trut...
Tags: South Korea, Layoffs, Jobs, General Motors, Production, Korea, Gm, Autos, GM Korea, News Blog, Buyouts, Union News, Corporate Restructuring, Plant Closures


San Diego Faces Its Future as a Tech Hub Without Qualcomm as Anchor

As Qualcomm (NASDAQ: QCOM) prepares for its annual shareholders meeting Tuesday, March 6, its takeover battle with Broadcom (NASDAQ: BRCM), has much of San Diego pondering a question reminiscent of a Joni Mitchell song: “Oh, don’t it always seem to go, that you don’t know what you’ve got ’til it’s gone?” If Qualcomm accept Broadcom’s proposal, estimated at somewhere around $120 billion, San Diego community leaders say the effects would be far-reaching—even if Broadcom elects to keep some ...
Tags: Deals, Startups, Mobile, Hardware, Internet, Entrepreneurship, Trends, Tech, It, People, Devices, Software, Innovation, San Diego, M&a, Wireless


LendingPoint Adds Point-of-Sale Financing with LoanHero Buyout

LendingPoint, an online provider of direct loans to consumers, has acquired LoanHero, the San Diego fintech with technology that enables merchants to extend instant financing to consumers at the point of sale. Financial terms of the buyout were not disclosed in an announcement Thursday. The acquisition enables LendingPoint, which focuses on near-prime consumers (with FICO credit scores from 580 to 700), to extend its financial software and services to consumers making a major purchase, wh...
Tags: Deals, Startups, Internet, Entrepreneurship, Trends, Web, It, People, San Diego, Mergers & Acquisitions, Financing, Fintech, Fico, Acquisitions, Mucker Capital, National blog main


Bose Develops Prototype “Sleepbuds” After Buying San Diego Startup

Bose, the privately held maker of headphones, loudspeakers, and other electronics for audiophiles, has acquired Hush, a San Diego startup founded by three undergraduate engineering students to develop “smart” noise-masking earbuds designed to help users sleep. The Framingham, MA, audio giant has incorporated the Hush technology in a prototype product that Bose is testing in a new product category that might best be described as “health and wellness audio.” In a recent e-mail newsletter, H...
Tags: Startups, Hardware, Entrepreneurship, Trends, It, Devices, Software, Innovation, San Diego, Wireless, Bose, Digital Health, Healthtech, Acquisitions, Hush, Lee


Xconomy Q&A: An Update with Arcturus Therapeutics CEO Joseph Payne

Things have been moving quickly in recent weeks for the San Diego RNA drug developer Arcturus Therapeutics. After initiating a reverse merger last month, Arcturus signed a research collaboration and worldwide licensing agreement with Janssen Pharmaceuticals, part of the Johnson & Johnson (NYSE: JNJ) family of companies. In a statement last week, Arcturus said it would work with Janssen to develop and commercialize its proprietary technologies for developing nucleic acid-based drug product...
Tags: Deals, Startups, Drugs, Trends, People, Innovation, San Diego, M&a, Mergers & Acquisitions, Biotech, Financing, Life Sciences, Johnson & Johnson, Janssen, Ionis Pharmaceuticals, Moderna Therapeutics


Under New Ownership, San Diego’s Ad-Juster Names Dennis Clerke CEO

Ad-Juster, a San Diego adtech startup acquired earlier this year by the investment arm of China’s Innotech International Group, Wednesday named local software entrepreneur Dennis Clerke as CEO. He succeeds Ad-Juster founder and president Mike Lewis, who has left the company. Clerke (a San Diego Xconomist) was previously the CEO of Sunnyvale, CA-based NetSeer, an adtech acquired in February by Inuvo (NYSE: INUV, an advertising technology and digital publishing company based in Little Rock,...
Tags: Deals, Startups, Internet, Entrepreneurship, China, Trends, It, People, Software, San Diego, Mergers & Acquisitions, Adtech, SUNNYVALE, InnoTech, Mike Lewis, National blog main


ServiceNow Buys San Diego Specialist in Customer Experience, Design

ServiceNow (NYSE: NOW), the Santa Clara, CA-based giant that provides cloud-based IT services, is boosting its emphasis on human-centered design with its acquisition of Telepathy, a San Diego specialist in customer experience and design. Financial terms of the deal were not disclosed. “ServiceNow chose us because of the design culture and process we have created over the last 17 years,” Telepathy co-founder and CEO Chuck Longanecker wrote Monday in a blog post announcing the deal. The des...
Tags: Deals, Mobile, Design, Web Design, Internet, Entrepreneurship, Trends, Web, It, People, Software, San Diego, Mergers & Acquisitions, User Interface, Servicenow, Santa Clara CA


Teradata Acquires San Diego’s StackIQ to Strengthen Cloud Business

Dayton, OH-based Teradata (NYSE: TDC), which has roughly 1,000 employees at its Teradata Labs engineering unit in San Diego, says today it has acquired StackIQ, a six-year-old startup near San Diego that specializes in software used to automate datacenters in the cloud. Financial terms of the deal were not disclosed. But reading between the lines, the acquisition has Oliver Ratzesberger’s fingerprints all over it. When I talked with Ratzesberger early last year, he said Teradata was “head...
Tags: Deals, Startups, Internet, Entrepreneurship, Ebay, Trends, Web, It, People, Software, Innovation, Web Services, San Diego, M&a, Mergers & Acquisitions, Data Centers


With GreatCall Deal, GTCR Looks to Expand Healthtech for Boomers

With this week’s buyout of GreatCall, the Chicago-based private equity firm GTCR just placed a big bet that healthtech for the aging wave of baby boomers will be a big business. GreatCall operates a virtual telecommunications network that provides healthtech products and services for more than 800,000 older consumers throughout the United States. The company, founded in 2006, began by selling easy-to-use “Jitterbug” mobile phones, and expanded its offerings to include a variety of welfare...
Tags: Deals, Internet, Trends, Web, It, People, Devices, Software, Chicago, United States, San Diego, Wireless, Private Equity, Mergers & Acquisitions, Mobile Health, Investor


TakeLessons CEO Discusses Chromatik Buyout, Why it’s a Good Fit

San Diego-based TakeLessons set out nine years ago to create a Web-based platform that helped match music students with qualified instructors. Since then, TakeLessons has raised a total of $20 million in venture capital, and expanded into new markets and services. The company’s last VC round in early 2014 raised $7 million.  TakeLessons also acquired Chicago-based Betterfly, which offered online vocational classes, DIY projects, and self-improvement courses like public speaking and person...
Tags: Deals, Startups, Internet, Entrepreneurship, Funding, Trends, Web, It, People, Vc, Software, Chicago, Venture Capital, San Diego, M&a, Mergers & Acquisitions


Lymber, Founded in Early 2016, Surprised by Mindbody’s Buyout Offer

Lymber was barely a year old when Mindbody (NASDAQ: MB) announced recently that it acquired the San Diego mobile app developer. Lymber, named as a 2017 Xconomy San Diego startup to watch, has developed a technology platform that enables mobile users to book openings in fitness and wellness classes. “We’re basically an Expedia for fitness and wellness studios,” Lymber co-founder and CEO Doug Hecht told me by telephone after the Mindbody deal closed. Lymber aggregates data about the real-ti...
Tags: Deals, Startups, Internet, Entrepreneurship, Trends, Web, It, People, Mobile Apps, Software, Innovation, San Diego, M&a, Mergers and Acquisitions, National, Expedia


Murata Pays $68M for Arctic Sand, to Combine with Peregrine Semi

Japan’s Murata Manufacturing has acquired Arctic Sand Technologies of Burlington, MA, and plans to combine Arctic Sand’s low-power semiconductor technology with its San Diego-based subsidiary, Peregrine Semiconductor. The purchase price was $68 million, according to a Peregrine spokeswoman. Arctic Sand, an MIT spinout founded in 2010, has developed semiconductor technology that consolidates a number of board-level power components onto a single chip for use in mobile devices, data centers...
Tags: Deals, Startups, Mobile, Japan, Hardware, Funding, Trends, It, Mit, Devices, Vc, Telecommunications, Venture Capital, San Diego, Mergers & Acquisitions, Financing


Doing “Defense the Silicon Valley Way” Pays for Daylight Solutions

Startups that develop advanced military technologies often never come to light. But San Diego’s Daylight Solutions has managed to openly thrive in two very different markets. The company has advanced its specialized solid-state laser technology for customers in both the defense industry and commercial sector. Paul Larson, who co-founded Daylight Solutions with CEO Tim Day in 2005, said they followed a path that was very different from a classic defense contractor, but not too different fr...
Tags: Deals, Startups, Hardware, Entrepreneurship, Trends, Tech, People, Devices, Innovation, San Diego, Silicon Valley, Mergers & Acquisitions, Semiconductors, Leonardo, Larson, National blog main


StockTwits Buys Mobile App SparkFin to Extend Fintech Services

StockTwits, the Twitter-like social media platform for sharing stock market tips and ideas, has acquired San Diego’s SparkFin, a fintech mobile app for discovering and sharing stocks and other investment ideas. Financial terms of the deal were not disclosed. The common denominator in both companies is Howard Lindzon, the Wall Street trader and hedge fund manager who founded StockTwits in San Diego in 2008. Lindzon led StockTwits as CEO until last year, and continues as chairman. Wall Stre...
Tags: Deals, Startups, Internet, Entrepreneurship, Wall Street, Trends, Web, It, People, Software, Innovation, Venture Capital, San Diego, Wireless, Fintech, Marketwatch


Morning Docket: 06.08.16

* Presumptive Republican presidential nominee Donald Trump promises that he won't speak ill of Judge Gonzalo Curiel anymore, but it took a lot of heavy criticism from GOP leaders for him to come around to the idea of being civil. He now says his comments about Judge Curiel's ability to remain impartial due to his Mexican heritage were "misconstrued." [Washington Post] * You know you've screwed up when a judge accuses you of "egregious misconduct," but you know you may have made the biggest mist...
Tags: New York Post, Politics, Law, Washington Post, Alabama, Merck, Racism, Gop, Patents, Dell, Donald Trump, Delaware, Legal Ethics, Roy Moore, Sheldon Silver, Dean Skelos


J.D. Power Bought by XIO Group; Deal Appears to Have High Initial Quality

J.D. Power and Associates is planning to put more of your possessions under the microscope, now that they’ve taken on new ownership in a deal worth $1.1 billion. Best known for its vehicle quality ratings, J.D. Power, a unit of McGraw Hill Financial Inc., was snapped up yesterday by London-based XIO Group, according to Reuters […] The post J.D. Power Bought by XIO Group; Deal Appears to Have High Initial Quality appeared first on The Truth About Cars.
Tags: London, China, Awards, Rankings, Quality, Industry, Financial, J D Power, Reuters, J D Power and Associates, McGraw Hill Financial Inc, Alliances, News Blog, JD Power, Buyouts, High Finance


Chicago PE Firm GTCR Buying Telematics Specialist Lytx for $500M+

The Chicago private equity firm GTCR has agreed to pay more than $500 million in cash to acquire Lytx, the San Diego-based provider of dashboard video telematics and driver risk management services, according to a statement this morning from Lytx. The transaction is expected to close in the first quarter. Lytx says its executive team will continue in their roles, and the company plans to expand its San Diego headquarters. Brandon Nixon, who became Lytx CEO in 2008, will continue as board ch...
Tags: Deals, New York, Hardware, It, People, Devices, Software, Chicago, Innovation, San Diego, M&a, Wireless, Wisconsin, Private Equity, Mergers and Acquisitions, Fleet Management