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Israeli Cybersecurity Startup Wiz Ends $23 Billion Acquisition Talks with Alphabet

In a document seen by Reuters, Israeli cybersecurity company Wiz said that negotiations with Alphabet for a possible $23 billion purchase have ended.

In a document seen by Reuters, Israeli cybersecurity company Wiz said that negotiations with Alphabet for a possible $23 billion purchase have ended. According to CEO Assaf Rappaport, Wiz will concentrate on an IPO, with a goal of $1 billion in recurring income annually. Wiz and Alphabet have not acknowledged the acquisition talks. Wizs $12 billion fundraising round valuation roughly doubled after Reuters revealed earlier last month that Alphabet was in advanced discussions to acquire the company. Wiz offers cloudbased cybersecurity solutions driven by AI. With Alphabet having just decided not to pursue the acquisition of HubSpot, this announcement is a blow to Googles cloud business, which brought in over $33 billion in revenue last year. Read More..

B2B Tech News | 1 years ago        

IMF Approves New Loans to Niger to Support Economic Reforms and Stability

To promote economic reforms targeted at enhancing balance of payments stability and resolving longstanding balance of payments difficulties, Niger wil

To promote economic reforms targeted at enhancing balance of payments stability and resolving longstanding balance of payments difficulties, Niger will receive further loans from the IMF. The first review under the Resilience and Sustainability Facility RSF and the fourth and fifth reviews of Nigers Extended Credit Facility ECF were finished on Wednesday by the IMF Executive Board. As a result, SDR 19.74 million about $26 million under the ECF and SDR 34.216 million around $45 million under the RSF were immediately disbursed. To give essential reforms and fiscal consolidation more time, the ECF, which was authorised on December 8, 2021, and the RSF, which was introduced in July 2023, have been extended until December 2025. The political unrest in Niger caused interruptions to the programme, which affected the debt service. Read More..

B2B Tech News | 1 years ago        

Berkshire Hathaway Sells 33.9 Million Shares of Bank of America for $1.48 Billion

In recent transactions, Berkshire Hathaway sold over 33.9 million Bank of America shares for nearly $1.48 billion, per a regulatory filing. After this

In recent transactions, Berkshire Hathaway sold over 33.9 million Bank of America shares for nearly $1.48 billion, per a regulatory filing. After this transaction, Berkshire will have about 999 million bank shares. In addition to being a significant stakeholder in Bank of America, Berkshire holds stakes in Wells Fargo and JPMorgan Chase, two other significant banks, amid worries about the banks capital, Berkshire, led by Warren Buffett, first invested in Bank of America in 2011 by purchasing $5 billion in preferred stock and warrants for 700 million common shares. Read More..

B2B Tech News | 1 years ago        

Vodafone Sells Additional 10% Stake in Vantage Towers for €1.3 Billion

Vodafone has completed its divestment strategy and reduced its shareholding to the planned level by selling an additional 10% investment in Vantage To

Vodafone has completed its divestment strategy and reduced its shareholding to the planned level by selling an additional 10% investment in Vantage Towers for €1.3 billion. This transaction is a component of a 2022 deal to reduce debt by selling a portion of its Germanybased masts business to Global Infrastructure Partners GIP and KKR. The most recent transaction brings the total profits from the divestiture of Vantage Towers to €6.6 billion. After the deal, Vodafone currently owns 44.7% of the business, with Oak Holdings, which cocontrols Vantage Towers, holding 89.3% of the total. With the money, Vodafone can reduce its net debt and reach its 2.25x–2.775x leverage objective. Read More..

B2B Tech News | 1 years ago        

Morgan Stanley Predicts Crude Oil Market Tightness to Shift to Surplus in 2025

Although the market for crude oil will likely stay tight for most of the third quarter, Morgan Stanley predicts that it will shift into excess next ye

Although the market for crude oil will likely stay tight for most of the third quarter, Morgan Stanley predicts that it will shift into excess next year, with Brent crude prices falling into the midtohigh $70s area. The bank expects supply to rise more than demand as OPEC and nonOPEC output expands. At a future miniministerial meeting, OPEC+ will likely stick to its present output policy, which includes unravelling output curbs in October. According to Morgan Stanley, Goldman Sachs estimate for Brent crude in Q3 2024 is still $86 a barrel. U.S. West Texas Intermediate was trading at $80.56 a barrel as of Monday, while Brent crude was at $83.08 per barrel. Read More..

B2B Tech News | 1 years ago        

Wipro Shares Plunge 8% After Disappointing June Quarter Results

On Monday, Wipros stock fell at its sharpest rate in more than four years, dropping almost 8% by 1046 a.m. IST due to weak sales projections and unsat

On Monday, Wipros stock fell at its sharpest rate in more than four years, dropping almost 8% by 1046 a.m. IST due to weak sales projections and unsatisfactory June quarter results. Additionally, the Nifty IT index fell by 0.3%. While rivals Tata Consultancy Services, Infosys, and HCLTech revealed encouraging statistics and hinted at a pickup in client expenditure, Wipro saw an 11% decline in deal wins and revenue from the prior year. Concerned about Wipros broadbased sales headwinds, subdued forecast, and lacklustre contract wins, Morgan Stanley and Jefferies analysts predicted the company would continue to perform behind its rivals. Read More..

B2B Tech News | 1 years ago        

Meta Platforms in Talks to Acquire 5% Stake in EssilorLuxottica for $4.73 Billion

Meta Platforms is in talks to buy around 5% of its partner, EssilorLuxottica, which makes RayBan smart glasses. With a potential value of €4.33 bill

Meta Platforms is in talks to buy around 5% of its partner, EssilorLuxottica, which makes RayBan smart glasses. With a potential value of €4.33 billion $4.73 billion, the investment would increase Metas control over the advancement of intelligent eyewear. This action coincides with significant investments in augmented and mixed reality technology by tech behemoths like Apple. Following the announcement, shares of Meta increased 1.2%, while EssilorLuxottica increased 3%. Almost thirtythree per cent of the firm is owned by Delfin, the leading investor, founded in 2018 when Essilor and Luxottica merged. The CEO of EssilorLuxottica stated that sales of the most recent RayBan Meta smart glasses, which have live streaming and a Meta AI assistant, had been good. Read More..

B2B Tech News | 1 years ago        

Saudi Airline Saudia Orders Up to 100 Lilium eVTOL Jets in $700 Million Deal

With the commitment to buy up to 100 of the German company Liliums allelectric flying shuttles, Saudi airline Saudia Group has placed the most signifi

With the commitment to buy up to 100 of the German company Liliums allelectric flying shuttles, Saudi airline Saudia Group has placed the most significant order the German air taxi developer has ever received. A definitive order for fifty eVTOL planes and an option for an extra fifty, worth around $700 million, is included in the contract. The shortdistance shuttles are anticipated to be added to Saudi Arabias fleet in 2026 and would be utilised for pilgrimage and essential occasions. Although the first humancrewed flight has been delayed until early in the upcoming year, Lilium has 106 solid orders, 76 options, and over 600 memorandums of understanding. Saudias "Vision 2030" calls for the airline to treble its yearly passenger count by 2030. Read More..

B2B Tech News | 1 years ago        



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1.  Global online sales are predicted to reach 22% of all retail sales in 2023.
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2.  Global tablet shipments are expected to hit 142 million by 2025, reports Statista.
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5.  Approximately 8 billion gadgets connect on the internet every day.
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