General Motors is moving forward to compete in the autonomous car markets. The giant automaker has acquired a driverless cars software maker, Cruise Automation, for reportedly more than $1 billion.
Deals
Forge Has Raised $4.5 Million in Seed Funds for Video Games Connectivity
Forge Inc. received a total of $4.5 million in seed fund rounded by Resolute Ventures, True Ventures and WME Ventures. The venture capitalist funded the platform for PC gamers to have no difficulty in sharing short video clips of their favorite games. The Forge app is free to download and is only available on PC.
Honest Dollar Acquired By Goldman Sachs
Honest Dollar Acquired By Goldman Sachs On Monday, Goldman Sachs' Investment Management Division announced that it will take over Honest Dollar, a web and mobile-based retirement savings platform based in Austin, Texas where the amount was not disclosed.
Michael Jackson’s Estate to Receive $750 Million From Sony for Music Catalog Share
Sony will pay $750 million to the Michael Jackson estate for its share in the music catalog. Once the deal is closed, the estate will be no longer in debt.
Apollo Global Management Takes Over Fresh Market for $1.36 Billion
It was agreed that Apollo Global Management is taking over Fresh Market Inc. Chairman and founder Ray Berry is not so pleased and is considering of making the company private where he and his son own 9.8% of shares. This would be Apollo's third largest acquisition that is worth more than a billion dollars.
Latest News
Life Insurance Corporation has invested in nine state-owned banks. The Indian-based insurance group has invested around ₹2,750 crore in shares of nine banks in order to strengthen their capital reserve.
Chicago Transport Authority has planned to replace 2,600 age old rail cars with 846 units of 7000-Series cars. CTA has awarded the $1.3 billion deal, the largest purchase in its history to a unit of CRR Corp. on Wednesday. Chinese companies have been awarded the second major deal following $567 million contract to supply trains for Boston’s subway system.
NEXON Co will purchase the entire outstanding shares from Big Huge Games. The company is moving forward with an aim of establishing a dominant presence in the gaming industry by creating partnerships with leading game developers.
In a Wednesday's public meeting, Franchise and Concession Review Committee of New York City approve the acquisition. The merger will create the second-largest cable operator in the United States, which raised a concern.
Nasdaq will acquire International Securities Exchange (ISE) for $1.1 billion from Germany's Deutsche Börse. The acquisition transaction is expected to close by end of 2016 year.
Exxon Mobil Corp's Canadian unit is selling its retail gas stations in the country to five fuel distributors for C$2.8 billion ($2.1 billion). The transaction is expected to be completed by end of 2016 subject to the regulatory approvals.
AMC Entertainment will acquire Carmike Cinemas to be the largest theater chain in North America. One Carmike's shareholder opposed the acquisition, citing the price offer was too low.
Owner of New York Stock Exchange, Intercontinental Exchange prepare its bidding on London Stock Exchange. The bid came in the midst of merger talk between London Stock Exchange and Deutsche Boerse.
Imperial Oil has entered into an agreement to sell its 497 Esso retail fuel stations for about C$2.8 billion. This transaction reflects the company's aim to widen its refining and oil sands businesses.
