mergersandacquisitions
German airline Lufthansa has secured EU approval to buy a 41% stake in Italy's state-owned ITA Airways. The €325 million deal will allow Lufthansa to scale up its services in Italy, one of Europe's largest travel markets. If ITA's financial performance improves, Lufthansa has an option to secure full ownership. The Commission's verdict, namely that the merger does not threaten fair competition, puts an end to months of uncertainty surrounding the deal. "At a time when consumers are facing increasingly higher prices for air travel, it is very important to preserve competition in the sector," sa...
Euronews (English)
Epicor has acquired Kyklo, a PIM specialty vendor focused on manufacturers and distributors, it said Wednesday. The ERP vendor said that Kyklo’s products would augment its Epicor Commerce offering, helping manufacturers, distributors and sellers to improves product discovery, generate more qualified leads, and modernize the online buying experience. Epicor described Kyklo’s value-add as “a process of catalog and content creation involving search, editing, and filtering, plus bulk data uploading using an API for real-time content and price updates.” It said Kyklo’s team of qualified engineers w...
CIO
Managed infrastructure services provider Kyndryl is considering a bid for competitor DXC Technology, Reuters reported Monday, citing people familiar with the matter. It said that Kyndryl is discussing the bid with private equity fund Apollo Global, and that they could offer between $22 and $25 per share to buy DXC, prompting the DXC share price to rise from around $16 when the markets opened Monday morning to nearer $19 at close on Wednesday. The Reuters report also noted that DXC “is separately soliciting bids to sell its insurance software business for more than $2 billion and may opt to rem...
CIO
IBM’s planned $6.4 billion acquisition of HashiCorp has run into an unexpected obstacle: a Hashicorp shareholder has filed a lawsuit in a US Federal court seeking to block the deal. The complaint, filed by HashiCorp shareholder Michelle Graff, accuses the company’s board of directors of breaching their fiduciary duty by favoring their own financial gains over those of public stockholders. IBM announced its plans for the acquisition in April, offering $35 per share in cash for HashiCorp. It said that HashiCorp’s infrastructure provisioning application, Terraform, would bolster its software busi...
CIO
A jury in San Francisco on Thursday unanimously cleared Autonomy CEO Mike Lynch of 15 counts of wire fraud and conspiracy to commit wire fraud stemming from his company’s purchase by Hewlett-Packard in 2011 for $11.1 billion dollars. HP executives had maintained that Lynch fooled them when he sold Autonomy — HP subsequently had to write down the value of the acquisition by over $5 billion — whereas Lynch maintained that he had been truthful. Jurors on Thursday sided with him. The charges against Lynch were brought by the U.S. Attorney’s Office for the Northern District of California. He was ex...
CIO
By Anirban Ghoshal Databricks has agreed to acquire Tabular, the storage platform vendor led by the creators of Apache Iceberg, in order to promote data interoperability in lakehouses. Tabular founders Ryan Blue and Daniel Weeks started developing Iceberg at Netflix in 2017 and donated it to the Apache Software Foundation in 2018, around the same time that Databricks was developing Delta Lake, an open-source table format for data that can be used for ACID transactions or OLTP processing. In contrast, Apache Iceberg is mostly used for OLAP queries as it has challenges around concurrency writes....
Info World
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