Enterprise

Bristol Myers Squibb Signs $380 Million Deal With Cellares

By Amit Chowdhry ● Apr 23, 2024

Bristol Myers Squibb and Cellares, which is the first Integrated Development and Manufacturing Organization (IDMO) dedicated to clinical and industrial-scale cell therapy manufacturing, announced a worldwide capacity reservation and supply agreement for the manufacture of CAR T cell therapies valued at up to $380 million in upfront and milestone payments.

Chase Launches New Digital Media Business

By Amit Chowdhry ● Apr 4, 2024

Chase announced it has launched a digital media business called Chase Media Solutions. This service will allow brands to connect with the financial institution’s 80 million customers.

UBS Selling $8 Billion Of Credit Suite Assets To Apollo

By Amit Chowdhry ● Mar 29, 2024

UBS and Apollo announced that they have entered into an agreement under which ATLAS SP has concluded its Transition Services Agreement with UBS, and UBS will close out its Investment Management Agreement with Atlas. As part of this deal, Apollo will purchase $8 billion of senior secured financing facilities from UBS.

ValidaTek: $43 Million DISA Contract For Softswitch Backbone Modernization Secured

By Amit Chowdhry ● Mar 28, 2024

Microsoft AI: A New Organization Being Headed By Inflection AI’s Co-Founders

By Amit Chowdhry ● Mar 20, 2024

Microsoft CEO Satya Nadella announced the company has hired some of the team members behind Inflection AI—including co-founders Mustafa Suleyman and Karén Simonyan—to form a new organization called Microsoft AI. Suleyman is also known as a co-founder of DeepMind, a company that Google acquired in 2014 to ramp up the search giant’s AI team.

OVHcloud: Global Cloud Provider Investing C$145 Million And Opening Data Center In Toronto Area

By Amit Chowdhry ● Mar 13, 2024

Leading global cloud provider OVHcloud US announced its parent company is expanding further internationally with the opening of a second Canadian site - which is the group's 42nd data center. This supported a long-term investment of C$145 million.

Exotec: Warehouse Robotics Provider Sells Over $1 Billion In Systems

By Amit Chowdhry ● Mar 12, 2024

Global warehouse robotics provider Exotec announced that it has sold over $1 billion in systems worldwide, making it one of the fastest materials handling companies to reach this milestone.

3M Names Bill Brown As New CEO

By Amit Chowdhry ● Mar 12, 2024

3M announced that William M. "Bill" Brown is appointed chief executive officer, effective May 1, 2024. Brown succeeds Michael Roman, who is being appointed to the role of Executive Chairman of the 3M Board of Directors, also effective May 1, 2024.

Google Cloud Launches Gen AI Advancements For Healthcare And Life Science Companies

By Amit Chowdhry ● Mar 12, 2024

At the HIMSS24 event, Google Cloud announced several new solutions to help healthcare and life sciences organizations enable interoperability, build better data foundations for businesses, and deploy generative AI (gen AI) tools for improving patient outcomes.

Primergy Solar Signs $588 Million Project Financing And Power Purchase Agreement With Microsoft

By Amit Chowdhry ● Mar 11, 2024

Primergy Solar - a leading developer, owner, and operator of utility-scale solar and storage projects - announced today it closed commitments for $588 million in debt financing for a 408 MWac Ash Creek Solar project in Hill County, Texas. And Primergy also signed a long-term power purchase agreement with Microsoft for the full capacity of the plant.

Altro Announces Expansion To 47 US States

By Amit Chowdhry ● Mar 9, 2024

Altro - a credit-building app transforming finance by enabling members to build credit history from their recurring monthly expenses - announced the expansion to 47 US states. Issued by Hatch Bank and running on Discover’s Global Network, Altro is also launching the Altro Credit Builder Card.

Deloitte Unveils InvestAcceleration, An Accelerator For Investment Management From Workday

By Amit Chowdhry ● Mar 8, 2024

Deloitte announced the launch of InvestAcceleration, a new suite of solutions designed for the investment management industry. It is an industry-specific approach to implementing Workday Financial Management.

Argentem Creek Partners And Emerge9 Reveal Joint Venture

By Amit Chowdhry ● Mar 6, 2024

Argentem Creek Partners (ACP), an emerging markets specialist investment firm, has partnered with Emerge9, a Miami, FL-based alternative asset platform, to launch a strategic joint venture focused on connecting non-institutional investors to General Partner (GP)- led private equity (PE) investments. The joint venture will combine Emerge9's origination and custom fund solutions with ACP's global relationships and presence across the Middle East, Latin America, and Asia.

Humane Signs Strategic Deal With SoftBank

By Amit Chowdhry ● Mar 3, 2024

Humane has revealed plans for a telecommunications partnership with SoftBank for the Humane Ai Pin, the first stand-alone Ai device and proprietary Ai-driven OS, CosmOS.

Pretium And Hunter Point Capital Sign Strategic Partnership

By Amit Chowdhry ● Mar 1, 2024

Pretium (a specialized investment firm with over $50 billion in assets under management) announced a strategic partnership with Hunter Point Capital (HPC). And this partnership, which includes a minority investment from HPC, aims to support the long-term growth of Pretium's existing strategies – residential real estate and corporate and structured credit – and enable the firm to expand into adjacent areas to create additional value for its clients, residents, and employees.

LPL Financial Launches New Continuity Private Wealth Practice

By Amit Chowdhry ● Feb 28, 2024

LPL Financial announced that financial advisors James “Jamie” P. Debuque, CPFA, CPWA, CRPC, and Timothy M. Baltz, CPFA, CRPC, have launched a new independent practice Continuity Private Wealth, through affiliation with LPL Financial’s supported independence model, LPL Strategic Wealth Services. And they reported having served approximately $1 billion in advisory, brokerage, and retirement plan assets and joined LPL from Merrill Lynch.

SAS Partnering With Carahsoft To Bring AI And Data Management To The Public Sector

By Amit Chowdhry ● Feb 28, 2024

Data and AI leader SAS announced a new distribution agreement with Carahsoft Technology. Under this agreement, Carahsoft will serve as a SAS Public Sector Distributor, making the company's analytics, AI and data management solutions available to US Government agencies through Carahsoft's reseller partners and various contract vehicles and government schedules. SAS and Carahsoft offer potent benefits for SAS' resellers in the public sector.

Meketa Capital Reveals Additional Equity Owners And Board Members

By Amit Chowdhry ● Feb 26, 2024

Meketa Capital - a newly launched subsidiary of Meketa Investment Group focused on delivering private markets investment solutions to financial intermediaries and their clients - recently announced additional equity ownership in the firm and the appointment of several individuals to the firm’s Board.

Wintrust Financial And LPL Financial Sign Strategic Relationship

By Amit Chowdhry ● Feb 26, 2024

LPL Financial and Wintrust Financial announced an agreement to transition support of the wealth management business of Wintrust Investments and certain private client business at Great Lakes Advisors and their approximately 85 advisors and about $16 billion of brokerage and advisory assets to the LPL Institution Services platform.

David Eisenhauer And Team Launching Greykasell Wealth Strategies

By Amit Chowdhry ● Feb 19, 2024

David Eisenhauer, CFP, CPA, CLU, and his team announced the launch of Greykasell Wealth Strategies, an independent registered investment advisor (RIA) with the SEC serving the intricate financial needs of high-net-worth individuals, families, and business owners.

Prospera Financial Brings In Painter, Smith & Amberg To Its Network

By Amit Chowdhry ● Feb 19, 2024

Prospera Financial Services (a boutique wealth management firm supporting a nationwide network of independent advisors) announced that advisors Charles Painter, David Smith, Jeffrey Amberg, and Kallie Rawson of Painter, Smith & Amberg have joined its network. Based in Redlands, California, the firm holds $650 million in assets under management (AUM).

Bill Ackman Launching Public Fund Pershing Square USA

By Annie Baker ● Feb 8, 2024

Bill Ackman - the renowned billionaire hedge fund manager - has launched a new investment portfolio in the U.S., according to regulatory filings. It is believed that this new fund will mimic his existing hedge fund, but it will be offered at lower fees.

Walmart Plans To Add 150 More Stores Across The U.S.

By Amit Chowdhry ● Feb 1, 2024

John Furner, President and CEO of Walmart U.S., announced that Walmart currently employs about 1.6 million people in the country. The company plans to support even more jobs by expanding and modernizing the facilities. Over the next five years, Walmart plans to build or convert more than 150 stores while continuing our program to remodel existing stores.

IBM Buying Application Modernization Capabilities From Advanced

By Annie Baker ● Jan 22, 2024

IBM has announced that it has signed a definitive agreement to acquire application modernization capabilities from Advanced, which brings a combination of talent, tools, and knowledge to enhance IBM Consulting’s mainframe application and data modernization services. This planned acquisition will further enable IBM to support clients’ mainframe application modernization journeys, marking another critical step forward in IBM’s hybrid cloud and AI strategy.

Vanguard Partners With Vanilla To Launch Enhanced Digital Estate Planning Tools

By Annie Baker ● Jan 22, 2024

Vanguard announced it is introducing new and enhanced intergenerational wealth and legacy planning capabilities through a partnership with Vanilla, a provider of digital estate planning tools and solutions.

Mars: $237 Million Nature’s Bakery Facility To Be Built In Salt Lake City

By Annie Baker ● Jan 17, 2024

Mars announced the establishment of a 339,000 sq. ft. baking facility by Nature's Bakery in Salt Lake City. And Nature's Bakery projects to add over 190 jobs to its Utah location and invest $237 million in its Utah facility.

Synopsys Buying Ansys In A $35 Billion Deal: Details

By Amit Chowdhry ● Jan 16, 2024

Synopsys and Ansys announced today that they have entered into a definitive agreement under which Synopsys will acquire Ansys. These are the details.

Twilio: Khozema Shipchandler Named As CEO

By Amit Chowdhry ● Jan 9, 2024

Twilio - the customer engagement platform that drives real-time and personalized experiences for today’s leading brands - announced that Khozema Shipchandler, formerly President of Twilio Communications, has been appointed Chief Executive Officer and will join the company’s Board of Directors, effective immediately. Shipchandler is succeeding Jeff Lawson, Twilio’s co-founder, who is stepping down as CEO and as a member of the Twilio Board. Jeff Epstein (a member of the Twilio Board and Lead Independent Director since 2017) has been appointed as Chair of the Twilio Board.

SilverSun Raising $1 Billion In Investment Agreement Led By Brad Jacobs

By Amit Chowdhry ● Dec 4, 2023

SilverSun Technologies (SSNT) and Jacobs Private Equity II, LLC (JPE) - which is led by Brad Jacobs - announced today that they and minority co-investors have entered into an investment agreement, under which JPE and the minority co-investors will invest $1 billion in cash into SilverSun. This proposed equity investment comprises $900 million by JPE and $100 million by co-investors, including Sequoia Heritage.

American Express Launches Business Checking For All Eligible U.S. Small Businesses

By Amit Chowdhry ● Nov 10, 2023

American Express recently announced that American Express Business Checking is now available to any eligible U.S. small business. This offers a digital banking experience with no monthly fees, 24/7 service, and the ability to earn and redeem Membership Rewards points for select travel and for deposits directly into their Business Checking account.