Dutch semiconductor giant NXP Semiconductors has announced that it will acquire Austrian automotive software development company TTTech Auto for $625 million in cash, in a move designed to enhance its product capabilities in the software-defined vehicle (SDV) space.TTTech Auto specializes in safety-critical systems and its technology will be integrated into NXP's CoreRide platform, enhancing automakers' capabilities in complex system management, performance and safety. The acquisition is expected to give NXP access to approximately 1,100 engineers and TTTech Auto's management team, further strengthening its position in the rapidly growing automotive market.
Getty Images and Shutterstock Agree to Merge to Create $37 Billion Visual Content Giant
Getty Images and Shutterstock announced a merger agreement on January 7, 2025 that will make the combined company a leader in the visual content industry at a valuation of $37 billion. Under the agreement, Craig Peters, CEO of Getty Images, will continue to serve as CEO of the new company. The merger will result in Getty Images shareholders owning about 54.7 percent of the shares, compared to Shutterstock shareholders' 45.3 percent. The parties said the merger will provide customers with richer visual content and enhance competitiveness against the backdrop of rapid advances in artificial intelligence.
Fubo's imminent merger with Disney is expected to be rapidly cash flow positive
FuboTV recently announced that it has entered into a merger agreement with Disney, which is expected to be cash flow positive immediately following the closing of the transaction within the next 12 to 18 months. Under the agreement, Disney will gain a 70% controlling interest in Fubo, while Fubo's existing management team will continue to operate the new company. The merger will bring Fubo and Hulu+ Live TV to a combined total of 6.2 million subscribers, forming the second largest pay TV service in the US. As part of the deal, Disney, Fox and Warner Bros. Discovery will pay Fubo $220 million in cash and provide a $145 million loan.Fubo's stock surged 253.85% on Jan. 6, reflecting the market's positive expectations for the merger.
Serve Robotics raises another $80 million to help expand sidewalk delivery robotics business
Serve Robotics recently announced a successful $80 million financing round with plans to further expand its sidewalk delivery robotics business. The funding was secured through a public offering of 4,210,525 shares of common stock, which is expected to close on January 7, 2025. The financing comes on top of the $86 million already raised in December 2024, bringing Serve Robotics' total 2024 financing to $167 million. The company said the funds will be used for general corporate purposes, including enhancing working capital to support its future expansion plans. Since becoming independent from Uber in 2021, Serve Robotics has completed tens of thousands of deliveries, partnered with companies such as Uber Eats and 7-Eleven, and signed agreements to deploy up to 2,000 delivery robots in multiple U.S. markets.
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