Maria Deutscher
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SUSE acquires Rancher Labs for reported $600M+ as it chases $1B revenue goal
Open-source enterprise software giant SUSE Group today announced that it’s buying Kubernetes startup Rancher Labs Inc. in a move that could advance the company’s goal of doubling its revenue by 2023. Sources told CNBC that the deal is worth between $600 million and $700 million. Germany-based SUSE, which is owned by private equity firm EQT Partners, ...
IBM to acquire RPA provider WDG as automation market heats up
Amid a surge in enterprise spending on automation tools, IBM Corp. today said that it has signed a deal to acquire WDG Automation Inc. Ltd., a Brazilian developer of robotic process automation software. WDG was founded in 2014 and isn’t known to have raised outside funding, according to Crunchbase. IBM is not disclosing the financial terms ...
Zoom launches a hardware-as-a-service subscription for enterprises
Zoom Video Communications Inc. today launched a hardware-as-a-service solution in a bid to capture a bigger slice of enterprise spending on communications equipment for employees. Zoom offers several premium features to organizations that use its video conferencing platform. They include Zoom Phone, for connecting the platform to business phone systems, and Zoom Rooms, which provides integration ...
After halting layoffs, Magic Leap hires key Microsoft exec as CEO to lead enterprise pivot
Magic Leap Inc., the mixed reality startup backed by more than $2 billion in funding, today appointed former Microsoft Corp. business development head Peggy Johnson as chief executive officer. The leadership change will advance Magic Leap’s pivot to the enterprise, as well as potentially improve its chances of raising additional capital. The hire comes two ...
Researchers develop algorithm for forecasting coronavirus outbreaks
A team of researchers has developed an algorithm that analyzes data such as tweets and Google searches to forecast coronavirus outbreaks. The team, led by Harvard scientists Mauricio Santillana and Nicole Kogan, presented the algorithm in a paper submitted last Thursday to the arXiv scientific paper repository. The New York Times, which interviewed Santillana about ...
Uber to acquire Postmates in a $2.65B all-stock deal
Uber Technologies Inc. today announced plans to acquire competing food delivery provider Postmates Inc. in a $2.65 billion all-stock deal. The transaction is a win for Postmates’ investors. The $2.65 billion Uber will pay is a premium to the $2.4 billion valuation the food delivery provider received after its most recent funding round. The deal ...
Grocery delivery startup Instacart picks up $100M at $13.8B valuation
After seeing customer orders on its grocery delivery platform surge more than sixfold in May, Instacart Inc. today said that it has raised $100 million at a $13.8 billion valuation. The investment was first reported by Axios. The $13.8 billion valuation is an increase over the $13.7 billion Instacart received last month, when the startup ...
Intel makes $250M bet on Indian mobile carrier Jio
Intel Corp.’s venture arm is making an investment worth about $250 million in India’s largest mobile carrier, Jio Platforms Limited. Intel said on Thursday that the deal will buy it a 0.39% stake, which is believed to value Jio at $65 billion. Jio entered India’s telecommunications market in 2016 with a competitively priced mobile broadband offering ...
After IPOs, shares of Lemonade more than double and Accolade soars
Shares of Lemonade Inc. and Accolade Inc. spiked today after their initial public offerings, with the former company seeing its market capitalization more than double and the latter rising in excess of 40% at one point. The successful listings are a positive sign for other tech companies hoping to hit the stock market this year. Moreover, the fact ...
Informatica buys Compact Solutions in first acquisition under new CEO
Data management firm Informatica LLC today said that it has acquired partner Compact Solutions LLC, whose software helps enterprises track what happens to business records they keep in internal systems such as mainframes. The terms of the deal were not disclosed. The acquisition is the first Informatica has announced since Chief Executive Amit Walia (pictured) ...