Markets News 

Alphabet’s Fitbit Acquisition Should Get Regulatory Approval

“Moreover, and as speculated by many, Alphabet will very likely use Fitbit technology in its own Pixel line of devices” writes Sejuti Banerjea for nasdaq.com. And the data we’re talking about is highly sensitive health data that when combined with other data Google already has on people, will leave nothing to imagination.Both Fitbit and Alphabet have given reassurances that the data won’t be sold to advertisers, so you won’t see ads based on it.The data it has managed to collect on users across the world (except China) is unparalleled except…

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Instagram’s founder on whether he’d sell to Facebook again: ‘When someone comes and offers you a billion dollars for 11 people, what do you say?’

“The Instagram cofounder and former CEO made an appearance at The New York Times DealBook conference on Wednesday, where he was asked whether he’d go through with the acquisition again” writes Mary Meisenzahl for businessinsider.com. Before leaving the company in September 2018, Systrom stopped posting on the platform. Source: businessinsider.com

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Virtu Financial incurs net loss of $5.2m in Q3 2019 due to costs of ITG acquisition

“The company incurred a net loss of $5.2 million, as a result of costs associated with the ITG acquisition and amortization of purchased intangibles” reports financefeeds.com. Total revenues for the three-month period to end-September 2019 amounted to $385.4 million, whereas trading income, net amounted to $220.1 million.Virtu Financial Inc (NASDAQ:VIRT) today reported its financial results for the quarter to September 30, 2019. Source: financefeeds.com

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Markets News 

FMCG, family businesses likely to witness merger, acquisition transactions: Levari

“I believe that there are some significant potential acquisition and/or merger transactions in Fast-Moving Consumer Goods (FMCG) and family-owned manufacturing businesses” writes Shaimaa Al-aees for dailynewssegypt.com. What is the role that Levari plays in merger and acquisition transactions?. Are there any recent acquisition transactions in the Egyptian market that you think will have a significant effect on the local market?. Our office in Dubai is growing steadily with new corporate clients coming on board which shows confidence in Levari’s strength as a regional firm. Source: dailynewssegypt.com

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The U.S. government begins national security investigation into TikTok

“TikTok’s parent company could be in a little bit of trouble as an investigation has been opened up regarding its acquisition of Musical.ly” reports tweaktown.com. According to a new report out of Reuters, the Committee on Foreign Investment in the United States (CFIUS) has begun to open up an investigation into ByteDance’s acquisition of Musical.ly back in 2017.The acquisition for Musical.ly was for a whopping $1 billion, and the reason for the investigation is over U.S. concerns the Chinese owned company might be censoring politically sensitive content.Reuters reports that CFIUS…

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Markets News 

Google Looks To Bulk Up Health Portfolio With Plans To Acquire Fitbit

“Any acquisition of Fitbit, gives Google a big inroad into the Indian wearable market as the wearable maker is a market leader in the country” writes Kritti B for inc42.com. It’s only other association with wearable devices is the Android-based Wear OS software that it develops with other OEMs for use in third-party smartwatches.It also launched Fitbit Versa 2 for increasing the competition intensity in the mid-segment market of wearable devices.And now in a bid to expand its health portfolio, Alphabet Inc, the parent company of Google is looking to…

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News Stocks 

Tiffany & Co. stock soars 33% after confirmation of unsolicited acquisition bid from LVMH

“The proposal is a 30% premium to where Tiffany stock was trading when the bid was made” writes Tonya Garcia for marketwatch.com. Tiffany stock has gained 22.4% for the year to date.TIF, +31.33% stock soared 33.2% in Monday premarket trading after the luxury jeweler confirmed that it received an unsolicited acquisition proposal from LVMH Moet Hennessy Louis Vuitton SE MC, -0.13% for $120 per share in cash. Source: marketwatch.com

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Fitbit stock surges after report says Google has made an acquisition offer

“The report, which cited anonymous sources, didn’t discuss the offer price and maintained that a final deal may not happen” writes Emily Bary for marketwatch.com. Fitbit shares have languished in recent years amid competition from Apple Inc.’s AAPL, +0.83% Apple Watch.Fitbit Inc. shares FIT, +27.99% surged as much as 42% in Monday trading after Reuters reported that Alphabet Inc.Fitbit shares are off some 70% from their initial-public-offering price of $20. Source: marketwatch.com

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SoftBank To Layoff 4000 WeWork Employees Globally After Acquisition

“Amid its takeover by the Japenese investor Softbank, US-based office-sharing startup WeWork has planned to downsize its global team” writes Kritti B for inc42.com. The report further highlighted that the job cut will impact around one-third of WeWork’s global force of 14,000 employees.According to a media report, Softbank might layoff 4000 employees as a part of its aggressive turnaround plan after it gained control of the coworking business on Tuesday. SoftBank has given the approval to give Neuman $500 Mn to refinance his personal loans and the Japenese investor is…

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Amazon has acquired Health Navigator, which provides online symptom checking and triage tools to companies that are looking to route patients to the right place

“Amazon confirmed the acquisition to CNBC, and said that Health Navigator will join the company’s Amazon Care group, which launched in September” writes Christina Farr for cnbc.com. With only about a dozen employees, according to LinkedIn, Health Navigator is much smaller than the first health-related company Amazon acquired, PillPack.Amazon has just made its second acquisition in the health-care space, snapping up a start-up called Health Navigator, which provides technology and services to digital health companies.Amazon Care is designed to serve as a medical benefit for employees and helps provide care…

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