April 3, 2021
SPACs have so dominated Wall Street thinking this year that they are now the stuff of memes and ironic t-shirts.
Thanks to their burst in popularity with celebrity and retail investors alike, more than half of companies that went public last year happened through a SPAC. But the promise of these unconventional investment vehicles of bigger, more efficient returns on a shorter timeline than traditional IPOs may be starting to fall short.
Also termed blank-check companies, SPACs are shell companies that take private firms public by raising money on an exchange and then merging with or acquiring them to take their place on the exchange. It’s a back door for private firms to go public without bothering with the tedious IPO or direct listing process. Recent data on the trajectory of SPAC acquisitions show a strong run-up in the number and size of those deals last year, followed by a steep one-month drop-off in March. The number of deals fell more than 50% between Februa
Converge Technology Solutions Acquires Dasher Technologies In M&A Push
‘Dasher in the past sold hardware and cloud solutions with some software licensing, but not as much on the SaaS side except for Microsoft. Now we will see an expansion in SaaS with companies like Tableau and Snowflake, areas where we didn’t have expertise in before. We will be going to our existing clients to talk about new technologies,’ says Dasher CTO Chris Saso. By Joseph F. Kovar April 01, 2021, 06:41 PM EDT
Converge Technology Solutions on Thursday showed it is continuing an unbroken string of acquisitions aimed at building a North American channel powerhouse with the unveiling of its purchase of Dasher Technologies.
Press release content from Business Wire. The AP news staff was not involved in its creation.
Endava Announces the Acquisition of Levvel LLC
April 1, 2021 GMT
Endava (NYSE “DAVA”) announced today the acquisition of Levvel LLC, headquartered in Charlotte N.C. (“Levvel”).
Levvel is a an award-winning U.S. technology strategy, consulting and engineering firm focused on helping companies create sophisticated technology through human-centered problem-solving, rooted in deep industry expertise. The company brings the full suite of business domain knowledge, design prowess, and technical expertise to create success for clients across the entire project lifecycle.
Levvel has a strong focus in the Payments and Financial Services, Logistics/Mobility and TMT segments and combining forces will accelerate Endava’s expansion in the United States whilst deepening exposure to clients in these core market sectors.
Western Digital, Micron Eyeing Kioxia Acquisition: WSJ
The possibility that Micron or Western Digital might acquire flash memory and SSD manufacturer Kioxia for perhaps $30 billion comes at a time when the United States is looking at ways to lower its reliance on foreign production of semiconductors and other critical components. By Joseph F. Kovar March 31, 2021, 08:04 PM EDT
Kioxia, the memory and SSD manufacturer carved out of Toshiba in 2018, may be an acquisition target of either Micron Technology or Western Digital, The Wall Street Journal reported Wednesday.
Should such an acquisition happen, it might be finalized this spring in a deal that could value Kioxia at about $30 billion, the Journal reported.