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Acquisition

AI chip startup Groq forms new business unit, acquires Definitive Intelligence

Groq, a startup developing chips to run generative AI models faster than conventional hardware, has an eye toward the enterprise — and public sector. Today, Groq announced that it’s forming a new division — Groq Systems — focused on greatly expanding its customer and developer ecosystem. Within Groq Systems’ purview is serving organizations, including government agencies, that wish to add Groq’s chips to existing data centers or build new data centers using Groq processors. In forming the new…

Google makes Photomath acquisition official on Play Store

Google has officially brought the AI-based math-solving app Photomath under its banner on the Play Store. This comes more than a year after the company announced its acquisition of the popular app. Photomath allows users to take pictures of math problems and get step-by-step solutions. It launched in 2014 and has been downloaded more than 100 million times on iOS and Android. The deal last year signaled Google’s intent to bolster its AI capabilities for math. Photomath’s AI is adept at recognizing handwritten text,…

Saber Interactive may escape Embracer’s death hug and become a private company

Saber Interactive has reportedly found an exit strategy from the death grip of its parent company, Embracer Group AB. Bloomberg reported Thursday that “a group of private investors” will buy the studio in a deal worth roughly $500 million. Saber would then become a private company with about 3,500 employees.Engadget emailed a spokesperson from Saber for confirmation about the alleged buyout. The studio declined to comment.The alleged agreement would be one of Embracer’s most significant cost-cutting moves since the…

koo acquisition: Koo says in talks for strategic partnership as Dailyhunt eyes acquisition

Homegrown microblogging platform Koo's cofounder Mayank Bidawatka said in a post on LinkedIn that the company is in discussion with "multiple partners" for a "strategic partnership". His post came soon after media reported that VerSe Innovation, parent of media startup Dailyhunt, is in advanced talks to acquire the Bengaluru-headquartered social network Koo, which is touted as an alternative to X, formerly Twitter.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIndian School of…

Altice USA shares rise on Charter acquisition report

Igor Golovniov | Lightrocket | Getty ImagesAltice USA shares spiked 36% on Monday following a report that Charter Communications is considering buying the broadband company.Charter is working with financial advisors as it considers whether it would make sense to buy Altice USA, Bloomberg reported Monday, citing people with knowledge of the matter.Altice hasn't been approached by Charter to begin talks on a possible transaction, a person familiar with the matter told CNBC.The larger company's shares dropped about 2% on…

Samsung is piling up billions in cash to likely make a big acquisition

There has long been speculation about how Samsung would use its more than $60 billion cash reserves. The general perception is that the company would become active in the mergers and acquisitions space to buy some big company. However, Samsung hasn't made any major acquisitions since it bought Harman for $8 billion back in 2017. It appears that Samsung is making some moves that may suggest it's preparing to make an acquisition. The company is reportedly bringing in cash from subsidiaries across the globe to South Korea,…

Capital One Discover acquisition has $1.4 billion breakup fee for another buyer

Capital One headquarters in McLean, Virginia on February 20, 2024. Brendan Smialowski | AFP | Getty ImagesCapital One's blockbuster takeover proposal for Discover Financial includes a $1.38 billion breakup fee if Discover decides to go with another buyer, but no such fee if U.S. regulators kill the deal, people with knowledge of the matter told CNBC.Capital One said late Monday it had an agreement to purchase rival credit card player Discover in an all-stock transaction valued at $35.3 billion.While Discover can't…

Walmart is buying smart TV maker Vizio for $2.3 billion

Walmart is buying Smart TV manufacturer Vizio for $2.3 billion, the US retail giant announced as part of its latest earnings report. While Walmart has long been one of the major sellers of Vizio TVs, the company says the acquisition "enables a profitable advertising business that is rapidly scaling" via the company's SmartCast OS. The deal is still subject to regulatory approval.Vizio sells solid mid-range TVs, most equipped with its SmartCast operating system that supports free ad-supported content. The company recently…

African product, global market: Expensya employees cashed out $10M from 2023 acquisition

What’s more rewarding for an angel investor than paper returns in a startup? An acquisition that turns those paper returns into a cash payout while still maintaining shares in the company. “The return after dilution was eight times my investment,” said Selma Ribica in an interview with TechCrunch recently. “I kept some stock of the new entity, but a big majority was cash.” Ribica currently serves as the general partner at First Circle Capital, a venture capital firm specializing in fintech SaaS, or fintech 2.0 as she…

Microsoft’s gaming layoffs include 86 jobs at Skylanders studio Toys for Bob

Microsoft’s post-acquisition layoffs at Activision Blizzard have already caught the FTC’s eye. Now we know more about which subsidiary studios will take the hit. First reported by the San Francisco Chronicle (via Eurogamer), California WARN notices list 86 upcoming scheduled layoffs at Skylanders maker Toys for Bob and 76 cuts at Call of Duty: Vanguard developer Sledgehammer Games.California requires companies to notify the state of upcoming layoffs, thanks to a 1988 law mandating 60 days’ notice about staffing cuts (if…