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November 02, 2020

Cyndx Insights is your daily window to the business world, focusing primarily 
on M&A activities, capital markets, and important technology trends.

Daily Insights provides global business coverage and categorizes
financial news from U.S.Europe and Asia.

U.S. & Canada

KKR Invests Record $6.2 Billion With Turmoil Spurring Deals

KKR & Co. deployed a record  $6.2 billion in markets across private equity, infrastructure and real estate, aking advantage of turmoil spurred by the Covid-19 pandemic. This surpassed its previous peak of $5.5 billion in the second quarter.  Read more on Yahoo!Finance

Image: grapestock / Shutterstock.com

Juul Slashes Valuation to $10B

Juul Labs has cut its valuation to about $10 billion from $12 billion at the end of last year, according to a company memo seen by Reuters. Juul was valued at $38 billion in December 2018, when Altria Group took a 35 percent stake in the company. Read more on  Nypost.com

Image: Steve Heap / Shutterstock.com

Dunkin' Brands to go Private in $8.76 Billion Deal

Inspire Brands Inc will buy Dunkin’ Brands Group Inc for $8.76 billion, the two companies said late on Friday, bringing chains like Arby’s and Dunkin’ Donuts under the same umbrella in one of the largest restaurant deals. Read more on  Reuters.com
Image: Nixx Photography / Shutterstock.com

Steve Cohen's $2.4B Acquisition of the Mets is Approved by MLB Owners

Steve Cohen's $2.4 billion bid to buy the New York Mets has been approved by MLBs owners as well as Mayor Bill de Blasio, who reportedly could have vetoed the deal because of a clause contained inside the team's lease at CitiField in Queens. Read more on Dailymail.co.uk

Image : Frank Romeo / Shutterstock.com

Nestlé Acquires Freshly for up to $1.5B

Nestlé  USA just announced that it has acquired Freshly for $1.5 billion — $950 million plus potential earnouts of up to $550 million based on future growth.  Read more on Techcrunch.com

Image: chrisdorney / Shutterstock.com

Under Armor To Sell MyFitnessPal for $345M

Under Armour announced that it will be selling MyFitnessPal to investment firm Francisco Partners for $345 million, five and a half years after acquiring it for $475 million. It will also be winding down the Endomondo platform which it also acquired at the same time for $85 million.
Read more on Techcrunch

Image: Igor Moskalenko / Shutterstock.com

U.S. Capital Raising and M&A Highlights

Autohome is to make an investment in TTP Car Inc., an auction platform for used cars in China, for an aggregate purchase price of US$168m. Finsmes
B8ta, a San Francisco startup betting on the future of physical retailers, acquired Re:store a 1-year old direct to consumer businesses. Techcrunch
Bull Horn Holdings, a blank check company targeting leading sports, entertainment, and brand companies, raised $75 million. Renaissancecapital
Capacity, a St. Louis-based provider of AI-powered helpdesks, raised $11m in Series C financing from backers including Rice Park Capital Mgmnt LP. Finsmes
CLMBR, a leader in connected fitness technology, announced the close of their first funding round led by VC and private equity firm KBW-Ventures. VCnewsdaily
Corsair Gaming announced that it has acquired EpocCam, the software developer behind the iOS software of the same name. Techcrunch
Credit Karma is in talks to sell its tax-preparation business to Square Inc, the Wall Street Journal reported. Reuters
Francisco Partners acquired Forcepoint, an Austin, TX-based provider of cybersecurity solutions, from Raytheon Technologies. Finsmes
Gauss, a Menlo Park, CA-based developer of computer vision applications for healthcare, raised $10m in funding led by The 4100 Group. Finsmes
Granicus, a provider of cloud-based technologies, acquired Calytera, a business process automation platform, from BuildGroup. Granicus
Intel announced an acquisition that will bolster its expertise and work in artificial intelligence with the acquisition of SigOpt. Techcrunch
Lucidum, an asset discovery company, launched with $4m in seed funding from GGV Capital and Silicon Valley CISO Investments. Finsmes
MarketerHire, the talent marketplace and hiring platform that pairs the world's top remote marketing talent with companies of all sizes, announced it raised $3 million in funding from strategic angel investors. VCnewsdaily
Morgan Stanley Capital Partners, announced they have completed an investment in US HealthConnect. Details were not disclosed. OAonline
NerdWallet, a website and app that provides financial guidance for consumers, acquired Fundera. The amount of the deal was not disclosed. Finsmes
New Beginnings Acquisition, a blank check company raised $100 million. Renaissancecapital
Onfleet, a platform that provides last-mile delivery management tools, raised $14m in a series A round of funding led by Kennet Partners. Venturebeat
Quinn, a natural foods snack company, closed an additional Series D funding from The Hershey Company and existing investors. Finsmes
Rockset, a San Mateo, Calif.-based real-time indexing database company, raised $40m in Series B funding round led by Sequoia. Finsmes
Stairwell, a San Francisco, CA-based cybersecurity company, raised $4.5m in seed funding led by Accel. Finsmes
Steadily, a new kind of insurer for landlords, announced that it has received $3.8 million in seed funding in a round led by Matrix Partners. VCnewsdaily
Teampay, which helps companies control their bank accounts, has closed a fresh $5 million Series A-1 extension led by Fin Venture Capital. Techcrunch
WiTricity, the pioneer in efficient wireless power transfer over distance, closed a $34 million investment round. Stage 1 Ventures led the round. WiTricity
Warren, an Estonian startup is announcing that it has closed a seed round of around €1.2 million led by London-based VC fund, Passion Capital. Eu-startups

International News

Italian Payments Firm Nexi Leads Race for $10 Billion Nets Takeover

Italian payments technology firm Nexi is leading negotiations to buy Nordic rival Nets in an all-stock deal worth about $10 billion after trumping competition from U.S. firm Global Payments, four sources told Reuters.  Read more on Reuters
Image: Pop Tika / Shutterstock.com

Australia's AMP Buyout Offer Valued at $4.5B

Embattled Australian wealth manager AMP Ltd on Monday said a buyout offer from U.S.-based Ares Management Corp had an implied value of A$1.85 per share, valuing the proposal at A$6.36 billion ($4.47 billion). Read more on Reuters.com
Image: Nils Versemann / Shutterstock.com

UK's FCA to Announce Further Support for Mortgage Borrowers

The UK Financial Conduct Authority said on Saturday it would propose updates to its guidance to support mortgage borrowers on Monday, as the British government announced further measures to control the spread of COVID-19 in England. Read more on Reuters.co.uk

Image: Pachai Leknettip / Shutterstock.com

Israel Partners with The Circle for Launch of Founders Club: an Early- Stage Startup Accelerator 

The Circle has launched a new business accelerator FoundersClub, for early-stage startups, an iteration of its successful innovation space, The Circle.Work. Ambassador of Israel in India said that Israel was keen to share its advanced technologies with entrepreneurs in India.  Read more on Newspatrolling.com
Image: rawpixel.com / Shutterstock.com

Air Street Capital Closes New €14.6M Fund

The AI-focussed venture capital firm Air Street Capital today announced the closing of a €14.6 million fund, targeting early-stage founders in Europe and the US who combine AI expertise with deep sector-specific knowledge. Read more on Eu-startups.com

Image: Natasa Azdic / Shutterstock.com

International Capital Raising and M&A Highlights

AMP Ltd said U.S.-based Ares Management Corp had made a non-binding offer to buy the Australian wealth manager, sending its shares soaring. Reuters
AnaCap, entered into exclusive negotiations for a majority stake in Market Pay, the payments arm of Carrefour, in a deal valued ~€300 million. Finextra
Banco Sabadell of Spain is open to consider entering into a consolidation process, while not ruling out a potential sale of its British arm TSB. Reuters
Conductor, the Brazilian payments firm has raised $150 million in a private funding round  led by Viking Global Investors. Reuters
Fertifa , a UK-based fertility-focused workplace benefits platform, raised a £1M (~$1.3M) seed round from Passion Capital and strategic angels. Techcrunch
medino, a London-based digital pharmacy startup has announced it closed a £5.6m funding with Arctic Securities AS as sole manger to the round. UKtech
Mode, a UK fintech has bought out the 45% minority interest in operating subsidiary JGOO from Pure NZ Gateway Ltd, giving it full control. Finextra
NannyML, a Belgian AI-monitoring startup just closed a pre-seed funding round of €1.06 million. The round was led by Volta Ventures. Eu-startups
Nexi, the Italian payments technology firm, is leading negotiations to buy Nordic rival Nets in an all-stock deal worth about $10 billion. Reuters
Ocado, the British online supermarket and tech group said it would buy two robotics companies for a total of $287 million (222.14 million pounds). UK.Reuters
Sony Corp is in final talks with AT&T to acquire U.S. animation-streaming service Crunchyroll in a deal worth more than 100B yen ($957 million). Reuters

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