Silicon Valley Journals Rio Tinto, a global mining company, has pledged $150 million to establish the ‘Rio Tinto Centre for Future Materials’ in partnership with Imperial College London. The center aims to conduct research programs to transform the production, usage, and recycling of vital materials, making them more sustainable from environmental, economic, and social perspectives. The initiative is … Read more
Airalo, a mobile startup that offers software-based eSIM connectivity for international travelers, has raised $60 million in a Series B funding round. The company plans to use the funds to expand its business. The round was led by e& Capital, the venture arm of UAE-based carrier Etisalat, and saw participation from various other financial and … Read more
Accenture is planning to cut approximately 890 jobs from its Irish operations as part of a global round of job reductions announced in March. This comes in addition to the 400 staff that were already let go earlier in the year. The 1,290 redundancies being sought this year amount to nearly 20% of Accenture’s Irish … Read more
In a recent development, X, the social media company formerly known as Twitter, has reorganized its trust and safety team under the oversight of Elon Musk, the owner of X, and Linda Yaccarino, the Chief Executive Officer. Under the new structure, X’s product and engineering team will report directly to Elon Musk, while Linda Yaccarino … Read more
Research Solutions has made an undisclosed acquisition of ResoluteAI, a New York-based advanced search platform powered by Artificial Intelligence (AI) and Natural Language Processing (NLP). The acquisition aims to leverage ResoluteAI’s expertise in AI and NLP to enhance Research Solutions’ information management capabilities, making a wide range of information sources and data more discoverable. Shares … Read more
Standex has successfully completed the acquisition of Minntronix, a privately held company based in South Dakota, for approximately $30 million in cash. The transaction was funded using Standex’s existing cash balance. The acquisition is expected to be accretive to Standex’s earnings in its first year of ownership and deliver a double-digit return on invested capital. … Read more
Biogen, a leading biotechnology company, has announced a definitive agreement to acquire Reata Pharmaceuticals for an enterprise value of $7.3 billion. Under the agreement, Biogen will pay $172.50 per share in cash to Reata, and the transaction is expected to be completed in the fourth quarter of 2023. Reata Pharmaceuticals specializes in the development of … Read more
GlassPoint, a leading player in decarbonizing industrial process heat, has successfully closed an $8M series A investment round, with 300PPM as the lead investor. The funding also saw the participation of prominent figures, including former Australian Prime Minister Malcolm Turnbull, former Alcoa COO Tomas Sigurdsson, and several other industrial leaders. GlassPoint aims to utilize the … Read more
DecoSynth, a pioneering player in the wall decor industry, has reached a significant milestone with the successful completion of a substantial venture funding round led by Misfit Capital. This sizeable investment not only marks a momentous achievement for DecoSynth but also positions the company to accelerate its growth and innovation in the competitive wall decor … Read more
Peoria-based company, Natural Fiber Welding (NFW), has announced a second round of staff reductions this year, as part of its ongoing restructuring efforts. The recent action, which occurred on Wednesday, affected approximately 10% of the workforce, mirroring a similar move made in April. An NFW spokesperson confirmed that the latest round of layoffs also impacted … Read more