All posts tagged: acquires

Stantec acquires Bristol design consultants Hydrock

Stantec acquires Bristol design consultants Hydrock

Published by skeptic

Bristol engineering design consultants Hydrock has been acquired by Stantec. Hydrock has over 950 employees across 22 offices located in the UK and a large client base across a number of sectors including education, energy, healthcare, industry, defence, leisure, retail, hospitality and residential. The transaction coincides with the retirement of CEO and founder of 29 years, Brian McConnell with Dr Scott Elliott now leading the integration as Managing Director. The sale for an undisclosed amount provides a successful exit for investors BGF. Since its original investment in March 2018, BGF has provided £5.6 million to support Hydrock’s organic growth plans as well helping to fund the acquisition of seven complementary consultancy businesses. During the time of BGF’s investment, Hydrock has significantly scaled its operations, expanded into new geographies and service lines, and focused on larger projects in high growth sectors. As a result, Hydrock has seen revenue increase from £30 million to £84 million. Dr Brian McConnell, retiring founder and CEO of Hydrock said: “BGF has been an excellent partner and its investment in the …

ButcherBox acquires ‘Shark Tank’-featured startup Truffle Shuffle

ButcherBox acquires ‘Shark Tank’-featured startup Truffle Shuffle

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Butcherbox is known for grinding its way forward, bootstrapping to more than $600,000 worth of revenue. The company hasn’t traditionally been on the M&A path, but it today announced it is acquiring Truffle Shuffle – who you may remember from a Shark Tank episode back in 2021 (or, perhaps, The Goonies). The acquisition helps Butcher Box customers get better at cooking – and potentially broadens the appeal (and product line) for more its customers. Truffle Shuffle’s goal is to make us home cooks feel like pros, which it does by offering easy-to-follow cooking shows. When I tried it out during the pandemic, I was struck how the company was able to make even pretty advanced dishes accessible and fun: with attitude and lots of little tips and tricks along the way, including breaks for making cocktails and dance parties where the home cooks show off how far into the process they are and how tasty the meals look as they are getting cooked.  The companies declined to share the terms of the deal, but a spokesperson …

Paystand acquires Teampay to be DeFi version of ‘Venmo for B2B payments’

Paystand acquires Teampay to be DeFi version of ‘Venmo for B2B payments’

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Paystand has acquired spend management software startup Teampay to create what the companies describe as a “no-fee B2B digital payment and spend powerhouse.” Financial terms of the deal were not disclosed. Teampay has raised $65 million since it was founded in 2016. The combined company services over 1 million businesses running on a commercial blockchain to more than 1 million participants. It processed more than $10 billion in transactions to date, which it touts is nearly 2% of annual U.S. business-to-business payments. “Teampay represents this new class of fintech companies,” Paystand CEO Jeremy Almond told TechCrunch exclusively. “They have products for CFOs to really change how they can digitize all of their workflow. It’s what I’d call a next-gen experience for the users and is a good fit for our customers going through this really big modernization process.” Paystand will continue to run the Teampay brand, mainly because it is well-known, he said. Almond believes businesses fintech should learn from consumer finance apps. In the B2B world, the process for sending and receiving funds is …

Sussex data centre firm Keysource acquires 2bm Limited

Sussex data centre firm Keysource acquires 2bm Limited

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Keysource, which designs, builds, operates and maintains data centres and mission-critical infrastructure, has acquired 2bm Limited. Based in Nottinghamshire, 2bm has more than 20 years of experience in data centre design and build projects. The business will continue to operate under its existing brand name as part of the Keysource Group, with Mark King, MD of 2bm, remaining in his current role. “We’re excited to join forces with Keysource”, said Mark. “It will allow us to leverage their national and global presence and greater resources to expand our reach and capabilities. “We see this as a hugely positive step for both our employees and our customers.” Through the deal, Keysource, which has its HQ in West Sussex, hopes to expand its service offering and strengthen its position in the continually growing data centre and critical environment market. Group CEO Stephen Whatling added: “We’re delighted to welcome 2bm to the Keysource Group. “Their specialist skills and experience in data centres and critical environments are a perfect fit for our business, and we see significant opportunities for …

Nvidia acquires AI workload management startup Run:ai

Nvidia acquires AI workload management startup Run:ai

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Nvidia is acquiring Run:ai, a Tel Aviv-based company that makes it easier for developers and operations teams to manage and optimize their AI hardware infrastructure, for an undisclosed sum. Ctech reported earlier this morning the companies were in “advanced negotiations” that could see Nvidia pay upwards of $1 billion for Run:ai. Evidently, those negotiations went without a hitch. Nvidia says that it’ll continue to offer Run:ai’s products “under the same business model” for the immediate future, and invest in Run:ai’s product roadmap as part of Nvidia’s DGX Cloud AI platform. “Run:ai has been a close collaborator with Nvidia since 2020 and we share a passion for helping our customers make the most of their infrastructure,” Omri Geller, Run:ai’s CEO, said in a statement. “We’re thrilled to join Nvidia and look forward to continuing our journey together.” Geller co-founded Run:ai with Ronen Dar several years ago after the two studied together at Tel Aviv University under professor Meir Feder, Run:ai’s third co-founder. Geller, Dar and Feder sought to build a platform that could “break up” AI …

Surrey’s Person Centred Software acquires care training provider Redcrier

Surrey’s Person Centred Software acquires care training provider Redcrier

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Guildford-based Person Centred Software has added care training provider Redcrier to its Connected Care offering. The Connected Care platform is used by more than 6,000 care providers across the UK and includes solutions for care planning, wellness and activities, medication management and care home operations. It will now integrate the training services of Redcrier as the Taunton firm looks to ‘maintain its relationship with all current customers and partners’. Johan Jardevall, CEO of Person Centred Software, said: “With this acquisition, we can address significant challenges in the social care sector related to learning and development. “Our primary goal is to ensure that care staff receive the right training and certifications, enabling them to perform their jobs to the highest standard and provide the best possible experience for residents in care. “This move demonstrates Person Centred Software’s commitment to continuously improve and expand its offerings, aligning with the evolving needs of the care sector.” Redcrier is one of the largest training suppliers for the UK care industry. For over a decade, the business has worked with …

Apple Acquires French AI Company Specializing in On-Device Processing

Apple Acquires French AI Company Specializing in On-Device Processing

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Apple has acquired the Paris-based artificial intelligence startup Datakalab amid its push to deliver on-device AI tools. Datakalab specializes in algorithm compression and embedded AI systems. The acquisition, finalized on December 17 last year, was quietly conducted but noted in a European Commission filing spotted by French publication Challenges (via iPhoneSoft). While the financial details of the transaction remain undisclosed, the move is almost certainly part of Apple’s broader strategy to bring more sophisticated AI technology to its devices, such as those expected to be introduced in iOS 18. The company was established in 2016 by Xavier and Lucas Fischer and made significant strides in AI technology focusing on low-power, high-efficiency deep learning algorithms that function without relying on cloud-based systems. This approach aligns with Apple’s oft-touted commitment to user privacy, data security, and reliable performance, as processing data locally minimizes the risk of data breaches and ensures faster processing times. The startup’s expertise in compressing neural networks to work effectively on portable devices like smartphones and tablets is likely a key factor in Apple’s …

Berkshire’s Westcoast acquires rival IT distributor Spire Technology

Berkshire’s Westcoast acquires rival IT distributor Spire Technology

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Berkshire IT distributor Westcoast has acquired 100 per cent of the share capital in rival firm Spire Technology. Headquartered in Verwood, Dorset, Spire has supplied laptops, tablets, computers, PC components and peripherals to the IT industry for more than 30 years. Alex Tatham, executive director of Westcoast, said: “There are so many benefits to the combination of Spire and Westcoast for companies, vendors, UK resellers and employees. “Firstly, it will add significantly to Westcoast’s components portfolio. “Spire will become the group’s main components pillar, with full access to all the customers, finance and tools that make Westcoast such a strong distributor in the UK and Europe. “Both businesses emphasise their agility and flexibility when it comes to speed of decision making and performance as well as a strong customer intimacy. “This cultural fit will help realise immediate mutual opportunities.” Spire CEO John Appleton added: “Westcoast can only help grow our business. “In return, we can bring a range of accretive components vendors to Westcoast’s significant and diverse customer base. “We’re delighted that we can form …

Dailyhunt-parent acquires newsstand app Magzter

Dailyhunt-parent acquires newsstand app Magzter

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VerSe Innovation, the parent firm of news aggregator app Dailyhunt, has acquired the popular digital newsstand firm Magzter, the two said Thursday. The Bengaluru-headquartered startup has fully acquired Magzter, a New York-headquartered firm that counted Singapore Press Holdings among its backers. VerSe didn’t disclose the financial terms of the deal. The acquisition of Magzter, which offers more than 8,500 magazines on its eponymous app, underscores VerSe’s focus on targetting and serving the affluent audience, VerSe co-founder Umang Bedi told TechCrunch in an interview. Magzter has more than 1 million paying subscribers in India, and 87 million active users globally. The firm, which charges about $20 to $30 yearly to consumers for its all-you-can-consume model, will find a distribution and technology partner in VerSe, helping the U.S. firm reduce its user acquisition cost, Bedi said. Dailyhunt began evaluating the deal with Magzter last year. The Indian firm plans to launch Dailyhunt Premium this year that will include an ad-free experience as well as Magzter’s catalog. Magzter will continue to operate as a standalone service as well, …