API management platform Apigee will find a new home at Google after the search giant announced its intent to acquire Apigee for $625 million. Stick with Sentifi all the latest updates on this potential merger.
1/ Apigee Corp: Becomes Google’s takeover target for $625 million
Apigee will help Google accelerate its customers’ move to supporting businesses with high quality digital interactions. Apigee boasts an impressive list of parters that employ its API solutions such as Walgreens, AT&T, Bechtel, Burberry, First Data and Live Nation. The API management company will also play a key role in Google’s process of becoming more digital.
2/ Micro Focus: HPE-Micro Focus deal is the largest takeover of a foreign company by a British firm
The deal will create the world’s largest infrastructure software company with annual revenues of over $4.5 billion. It will offer customers more choices while maximizing the value of existing IT assets.
3/ Liberty Media: The FIA demands more info before assessing the consequences of the deal
The Fédération Internationale de l’Automobile welcomed the Liberty Media-F1 merger, but it’s made it clear that it wants to have a discussion with all parties about the possible consequences of the merger. Considering F1 is the FIA’s flagship championship, this request for a discussion seems to be of standard. FIA president Jean Todt further said: “We look forward to working in close partnership with them in the future in order to further develop Formula 1 and bring it to new generations of motor sport enthusiasts around the world.”
4/ Chipotle: Partners with Alphabet to have burritos delivered by drones
The campus of Virginia Tech will be the testing ground for Alphabet’s Project Wing to deliver burritos from Chipotle. The test is meant to evaluate the accuracy of the drones’ navigation systems and measure people’s response to the devices.
Merger usually goes hand in hand with streamlining operations and integrating the resources of two parties effectively. Which usually translates to layoffs. Dell today announces it is cutting thousands of jobs after closing the acquisition of EMC. It is still unclear if the cut will affect jobs at EMC.
6/ Mario Draghi: Assures the market the ECB is still pursuing money-printing program
The ECB president confirmed the central bank is studying policy options to pursue its unprecedented money-printing program. Regarding its next step, Mario Draghi said the bank has consulted the internal committees for options to unsure “the smooth running of asset buys.”
7/ Wells Fargo: Pays $190 million to settle a customer fraud case
The bank will pay $185 million in penalties and $5 million to customers in a case where its employees secretly created millions of unauthorized bank and credit card accounts to make more money and boost sales figures. The bank also confirmed it had fired 5,300 employees over the last few years that participated in this shady practice. \
9/ Philip Hammond: Not confident in a big fiscal boost for the U.K.
The Chancellor of the Exchequer Philip Hammond said it’s not likely he’ll announce a fiscal stimulus in response to Brexit. But he did confirm that he will drop his predecessor George Osborne’s goal of balancing the books by 2020. He also urged the market to expert more shocks to the economy from Brexit.
10/ Tractor Supply: Shares fall 16.7 percent following weak forecast
The company has lowered its full fiscal-year 2016 revenue to $6.7 billion to $6.75 billion, from the previous guidance of $6.8 billion to $6.9 billion. Net income is lowered as well. The company has been promising to focus on sales and traffic driving, so it’s understandable for the investors to be taken aback by this weak forecast.
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