October 09, 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 reports and categorizes financial news from
U.S.Europe and Asia for full global insights.

U.S. & Canada

Morgan Stanley to Buy Eaton Vance for $7 Billion in Wealth Push

Morgan Stanley MS.N agreed on Thursday to buy asset management firm Eaton Vance Corp EV.N for about $7 billion in a cash-and-stock deal that advances Chief Executive James Gorman's push to bolster the bank's wealth and investment management businesses.. Read more on
Image:  TK Kurikawa  /

Investors Eye Discounted U.S. Healthcare Sector as Biden's Lead Grows

Investors are looking for bargains among healthcare stocks, even as prospect of a Democratic “Blue Sweep” in next month’s elections threatens more volatility for a sector already trading near a historical discount to the broader market. Read more on
Image: Sdecoret /

Mastercard Backs Card Issuing Start-Up Marqueta

Mastercard Inc MA.N has made a strategic investment in fintech firm Marqeta Inc and extended an existing partnership with the card issuing start-up, the companies said on Thursday. Read more on
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Consumers Spent a Record $28B in Apps in Q3, Aided by Pandemic

In a new report from App Annie, consumers in the third quarter downloaded 33 billion new apps globally and spent a record $28 billion in apps — up 20% year-over-year. They also spent more than 180 billion collective hours each month... Read more on
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IBM Will Split into 2 Public Companies to Focus on Cloud Growth

International Business Machines (IBM) is splitting itself into two public companies, capping a years-long effort by the world’s first big computing firm to diversify away from its legacy businesses to focus on high-margin cloud computing.. Read more on
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Mobility Giants Gear Up to Enter Insurance Fast Lane

Emerging trends in automotive industry allude to a future of connected, autonomous, shared and electric mobility and are poised to alter the auto insurance industry as we know it. A fourth of motor premium is forecast to shift over the next decade. Read more on
Image: FGC /

InvestGame Breaks Down $20.5 Billion in 2020 Game Deals

The game industry has seen an estimated $20.5 billion in acquisitions, investments, and IPOs in the first nine months of the year, according to game investment tracking firm InvestGame.. Read more on
Image: Igor Karimov on Unsplash

Cloud Communication Platform Messagebird Raises $200M

MessageBird, a cloud communication platform spanning AI-powered contact center software and APIs for developers, has raised $200 million in a series C round of funding led by Spark Capital. The company is now valued at $3 billion. Read more on
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U.S. Funding & Capital Raising Round Up

TigerConnect, healthcare's most widely adopted care team collaboration solution, closed a $45M Series D investment to fuel continued investment into its telehealth and workflow collaboration platform. The round was led by HealthQuest Capital.
Exer Labs has raised $2 million in funding and unveiled its AI and computer vision Exer Studio app for the Mac. Investors in the latest round include GGV, AME Cloud Ventures, Morado Ventures, Range VC, Service Provider Capital, Shatter Fund, and others.
Grid AI, a startup founded by the inventor of the popular open-source PyTorch Lightning project, William Falcon, that aims to help machine learning engineers more efficiently, today announced that it has raised an $18.6 million Series A funding round, which closed earlier this summer. The round was led by Index Ventures.
Datavant has raised $40 million in Series B funding. the leader in helping life sciences and healthcare organizations safely connect their data while protecting patient privacy, today announced $40 million in Series B funding,he round was led by Transformation Capital.

Lark Health today announced it has closed a $55 million Series C funding round. The round was led by King River Capital, as well as a $15 million venture debt credit facility with Trinity Capital and Bridge Bank.

goPuff, a Philadelphia, PA-based go-to platform for consumers’ everyday needs, raised $380m in funding. The round, which valued the company at $3.9 billion, was led by existing investor Accel and D1 Capital Partners.

Omnify, Service Ecommerce and management platform bringing advanced reservation and commerce technology, has today announced the close of its pre-series A funding round  led by AngelList Syndicate and Sequoia Scout.
Bloom Credit, a NYC-based API platform company for businesses to integrate with credit bureaus for access to scores, monitoring, and furnishment products, raised $13M in Series A funding. The round was led by Allegis NL.
Andie Swim, a global leader disrupting the swimwear ecommerce category today announced a $6.5 million Series A financing round from investors CityRock Venture Partners, Trail Mix Ventures and others.
Instacart, the North American leader in online grocery delivery, has raised $200 million as part of a new financing round. The round was led by existing investors Valiant Peregrine Fund and D1 Capital Partners.
Square has invested $50 million - about one per cent of its total assets - in bitcoin, arguing that the cryptocurrency is an "instrument of economic empowerment". The payments firm says it has bought 4709 bitcoins.
Greenwood, a new venture from Civil rights legend Andrew Young and rapper Killer Mike have raised $3 million in seed funding for a digital banking platform for Black and Latinx people and business owners.
Lingokids, a Miami, Florida-based early learning skills platform, raised $10m in funding. The round was led by Ravensburger Group.

Neocis, the Dental robotics startup today closed a $70 million round of funding. DFJ Growth led this series D round with participation from Vivo Capital.
Point Pickup Technologies, the company that has successfully reinvented the final-mile delivery model for many of the US's top eCommerce enterprises, has today raised $30M from BBH Capital Partners.
Claravine, a leading technology platform that helps standardize, govern, and connect marketing data across every team, system, and channel, today announced $5 million in Series A funding. The round, led by Grayhawk Capital.
Oxigen, a maker of pH balanced water boosted with oxygen, closed its $15m Series B funding round from a series of private backers.
Affirm,  a startup focused on providing point-of-sale credit to consumers making online purchases, announced that it has filed to go public.
VIVA Finance, an Atlanta-based fintech lender which is Fueling its efforts to expand access to credit and greater financial health, has closed a $2.3 million seed round led by Acumen Fund.
Pontifax AgTech Management, a global growth capital investor in the global food and agriculture sector, closed its second fund, Pontifax Global Food and Agriculture Technology Fund II, with commitments totaling $302m.

U.S. & Canada
Deals of the 
Day: M&A and Strategic Investments

Snap-on Incorporated, has acquired the assets of AutoCrib, Inc., a designer, manufacturer and marketer of tool and asset control solutions, for approximately $36m in cash.
Advanced Micro Devices Inc is in advanced talks to buy rival chip maker Xilinx Inc in a deal that could be valued at more than $30 billion,  the Wall Street Journal reported late Thursday.
Citadel Securities said it would acquire the NYSE market-making business of rival IMC Financial Markets, in a deal that would solidify its presence at the New York Stock Exchange..
Jumio, a provider of AI-powered end-to-end identity verification and eKYC solutions, acquired the AML platform from Beam Solutions, a startup focused on transaction monitoring and KYC.

CyndInternational News - Europe & Asia

LSE Nears $5 Billion Borsa Sale to Euronext, Italian Banks

London Stock Exchange Group Plc is nearing the sale of Borsa Italiana to Euronext NV and two Italian institutions for about 4.5 billion euros ($5.3 billion) including debt, according to people familiar with the transaction.

Image: chrisdorney /

EasyJet to Make First Annual Loss in its History

EasyJet has warned it faces losses of more than £800m this year and that it expects to fly at just 25% of normal capacity into next year. The annual loss will be the first in EasyJet's 25-year history. Read more on
Image: Stefano Garau /

Envisics Nabs $50M for its In-car Holographic Display Tech at a $250M+ Valuation

Envisics, which brings together technologies like computer vision, machine learning, big data analytics and navigation to project holographic, head-up displays providing enhanced “dashboards” of information to drivers has raised $50 million in a Series B round of funding. Read more on
Image: FotograFFF /

Ecommerce Platform Clearbanc Injects £500m into British Startups

Ecommerce investor Clearbanc has announced its plans to invest £500m into British SMEs over the next year as part of its UK launch. The alternative capital platform will use its AI platform to invest in British online startups to help with future growth. Read more on
Image: Elnur /

SiteAware Raises $10M to Track Construction Zone Progress Using Drones and AI

SiteAware (formerly Dronomy), a startup developing a verification platform for construction, today closed a $10 million funding round co-led by Axon Ventures and Robert Bosch Venture Capital GmbH. Read more on
Image :Dimitry Kalinovsky /

Indian Startup Developers Will Form an Independent Group: Vijay Shekhar Sharma

Paytm boss Vijay Shekhar Sharma on Thursday in a media briefing said that India’s technology ecosystem is looking to form an ‘independent congregation’ to fight global technology conglomerates including Google and Facebook. Read more on
Image: rafapress  /

Vpon Big Data Group Launches US$10 million Debut Fund - Vpon Ventures

Vpon Big Data Group announced the official launch of its strategic investment arm. Called Vpon Ventures, the initial capital of this evergreen fund is 10 million US dollars.  Read more on
Image: Vectormine /

Europe & Asia Funds & Capital Raising Round Up

Turkey’s $240-billion sovereign investment company is focused on domestic petrochemical, mining and insurance investments to bolster the economy in the next few years before turning its attention abroad, its CEO Zafer Sonmez told Reuters.
Clearbanc, a Toronto, Canada-based ecommerce investor for founders to grow their business, launched in the UK. Clearbanc plans to invest £500m into online startups over the next year.
Gitpod, one of the first open source developer platforms to automate the provisioning of ready-to-code development environments, announced a ~ €2.5 million seed funding from Crane Venture Partners,Speedinvest, and Vertex Ventures US.
Meliuz SA. the Brazilian online coupon and cash rebates provider plans to raise up to 880.4 million reais ($157.46 million) in an initial public offering, according to a securities filing on Thursday.
SpaceSense, which is developing an artificial intelligence platform for satellite imagery, announced the closing of a seed round of €1 million, driven by Techmind, Space Ventures Investors and angels.
Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), is in early discussions to buy a stake in supermarket chain Lulu Group International, two sources familiar with the matter told Reuters.

Europe & Asia
Deals of the 
Day: M&A and Strategic Investments

Suntec REIT is paying the Canada Pension Plan Investment Board £430.6 million ($756 million) for the latter’s 50% stake in two Grade A office buildings with ancillary retail at London’s West End.
Sourcepoint, a privacy compliance platform for the digital marketing ecosystem, has acquired UK-based software technology firm RedBud.
U.S. private equity firm Warburg Pincus LLC has invested $100 million in a series A round in the Brazilian startup Take Blip, according to a statement on Wednesday.
Kirkland advised Avanti Acquisition Corp., a special purpose acquisition company (SPAC) that will target European businesses with a strong US nexus, in connection with its $600 million IPO.
Boxlight Corporation, a provider of interactive technology solutions for the global education market, acquired Sahara Presentation Systems PLC, a UK leader in AV solutions. The total purchase price was GBP 74m (approximately USD 94.9m).
TP ICAP, the world’s biggest inter-dealer broker, agreed to buy electronic trading network Liquidnet for a revised price of between $575 million and $700 million and announced a $425 million rights issue to fund the purchase.

Making the News

Federal regulators have slammed Citigroup for failing to correct deficiencies in enterprise-wide risk management, compliance risk management, data governance, and internal controls, hitting the bank with a $400 million fine and cease and desist order.
HSBC HSBA.L will target net zero carbon emissions across its entire customer base by 2050 at the latest, and provide between $750 billion and $1 trillion in financing to help clients make the transition, Chief Executive Noel Quinn told Reuters.
Spain's Telefonica TEF.MC is in the final stages of negotiating a roughly 5 billion euros ($5.9 billion) deal to build a fibre-optic network in Germany, people close to the matter said.
Casual dining chain Ruby Tuesday said on Wednesday it filed for Chapter 11 bankruptcy protection, attempting to cut debt and recover from a drop in customer visits due to the coronavirus pandemic..
Morgan Stanley will pay a $60 million penalty after a U.S. banking regulator found the firm lacked proper oversight as it decommissioned two business data centers.
WarnerMedia (T +1%) is readying a restructuring that looks to cut costs by as much as 20%, resulting in thousands of job losses, The Wall Street Journal reports.

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