Global venture capital funding for financial technology companies hit $13.8 billion last year. The number is a double from previous year, indicating a serious impact of fintech to the financial services.
Deals
Frankfurt and London Stock Exchange Has Reached a Merger Agreement
Two of the most prominent European stock exchange, Frankfurt and London has agreed to merge on Wednesday. The merger between them will create a new European trading powerhouse.
Sony Bought Jackson Estate’s Shares for $750 Million, Taking Over Catalogs Including The Beatles and Taylor Swift
The Michael Jackson estate lost its share in the joint venture with Sony Corp. when the music publisher bought Jackson’s share of 50 percent for $750 million. The transaction will wipe out the rest of Jackson’s $500 million debt he left when the artist died in 2009.
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.
Latest News
Facebook acquired Masquerade to enhance its video features. On Wednesday, the largest social network bought MSQRD, giving its users ability to retouch their photo using playful and animated filters.
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.
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.
