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Financial technology firm FIS said today it has completed its acquisition of Global Payments’ Issuer Solutions business, formerly known as TSYS, in a deal valued at $13.5 billion. The transaction, which closed ahead of schedule, carries a net purchase price of $12 billion after accounting for tax assets, according to today’s release. The acquired business […]
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An announcement today revealed California Pizza Kitchen (CPK) will be acquired by Consortium Brand Partners (CBP) in partnership with Eldridge Industries, Aurify Brands, and Convive Brands. The consumer brand investment company also owns Jonathan Adler, Outdoor Voices, and Reese Witherspoon’s clothing line, Draper James.
Convive Brands, a restaurant operations and investment platform, is set to run global operations and act as master franchisor for CPK restaurants. CEO Jon Weber will join as CEO of the CPK restaurant group.
Founded in Beverly Hills in 1985, CPK is known for its fast-casual, California-style dishes and for pioneering the Original BBQ Chicken Pizza. The chain has been owned by its lenders since it recovered from bankruptcy in 2020 due to pandemic-driven financial issues.
CPK now consists of over 120 restaurants across 10 countries and operates a consumer-packaged goods platform, distributing frozen foods like pizza to 10,000 grocery stores worldwide. The brand also recently launched a vending machine system in airports, campuses, and entertainment venues that offers warm, freshly baked pizza.
Jonathan Greller, CBP’s president and co-founder said in the press release that the company will “build on CPK’s rich heritage by expanding its global restaurant footprint, growing its grocery presence, and exploring new product categories that celebrate California creativity and flavor.”
With three prior acquisitions under its belt, CBP adds food, beverage, and hospitality sectors to its portfolio with the new deal.
Asset management company Eldridge Industries invests in brands including Billboard and Rolling Stone, GoPuff, and the Los Angeles Dodgers, along with The Little Beet and Melt Shop, according to NRN.
The extended deadline for the 2026 Inc. Regionals Awards is Friday, December 19, at 11:59 p.m. PT. Apply now.
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Ava Levinson
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Enova’s $369 million acquisition of Grasshopper, announced Dec. 11, is expected to boost the digital bank’s innovation efforts. “Enova’s technology and data and analytic capabilities, especially around lending, will accelerate Grasshopper’s product innovations in small business and consumer lending,” David Fisher, Enova’s chief executive, told FinAi News. Accelerating lending capabilities was already on the digital bank’s roadmap, Steve Kerr, chief credit officer at Grasshopper, […]
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Whitney McDonald
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Publicly traded fintech Enova International (NYSE: ENVA) said today it has agreed to acquire Grasshopper Bancorp and subsidiary Grasshopper Bank in a cash-and-stock deal valued at about $369 million. ENVA stock jumped 11.7% to $157.92 today. Grasshopper, a digital-first bank founded in 2019, holds more than $1.4 billion in assets and roughly $3 billion in […]
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Crypto miner Core Scientific terminated a $9 billion deal yesterday for its sale to AI cloud-computing company CoreWeave. After months of investor and proxy campaigns battling the agreement, shareholders voted against the proposal.
While CoreWeave shares fell 3.9 percent in afternoon trading, the price of Core Scientific’s stock rose slightly.
The deal was first announced in July, with CoreWeave hoping to obtain the energy and data center capacity needed to power its raising demand. CoreWeave already rents data centers and computing power from Core Scientific, so the acquisition meant it would own those spaces, opening up opportunities to scale its business.
On October 15, Core Scientific’s board urged shareholders to vote for the agreement, stating it had “unanimously determined” the deal would be optimal for stockholders.
But Two Seas Capital, which claims to be the largest of Core Scientific’s active shareholders, said it would vote against the deal on the basis of sale process, deal structure, and valuation concerns. The adviser said the sale “materially undervalues” Core Scientific, and warned that the fixed exchange ratio would expose its shareholders to the price performance of CoreWeave’s shares.
Another proxy advisory firm, Institutional Shareholder Services, expressed a similar stance. It suggested Core Scientific should remain a standalone company per its recent success.
Yesterday wasn’t the first time Core Scientific has rejected a CoreWeave deal. In June 2024, the company turned down CoreWeave’s all-cash buyout offer.
Some analysts hypothesize that shareholders believe their companies are worth more right now because of the current high stock values of AI companies.
“[Shareholders] believe their value should be higher based on current valuations of comparable companies, which we see as more a sign of AI trade froth than actual economic value,” said Gil Luria, analyst at financial services partner D.A. Davidson.
Michael Intrator, co-founder, chairman, and CEO of CoreWeave, commented on the terminated deal in a Thursday press release.
“We respect the views of Core Scientific stockholders and look forward to continuing our commercial partnership,” he says. “CoreWeave’s strategy remains unchanged. We will continue to execute with discipline against our roadmap to create long-term shareholder value, including through opportunistic and strategic M&A.”
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Ava Levinson
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EA employees involved with the Communications Workers of America union have issued a sternly-worded statement against the of the company by Saudi-backed investors, . The complaints don’t involve , but rather that workers weren’t represented in any negotiations for the $55 billion deal.
The employees worry that any jobs lost as a result of the purchase would “be a choice, not a necessity, made to pad investors’ pockets.” In addition , unionized workers that urges regulators to scrutinize the deal.
“EA is not a struggling company,” the statement reads, going on to note that the company’s success has been driven by workers. “Yet we, the very people who will be jeopardized as a result of this deal, were not represented at all when this buyout was negotiated or discussed.”
The statement calls out the that have impacted the industry in recent years. Unionized staffers note that “every time private equity or billionaire investors take a studio private, workers lose visibility, transparency and power.”
“We are calling on regulators and elected officials to scrutinize this deal and ensure that any path forward protects jobs, preserves creative freedom and keeps decision-making accountable to the workers who make EA successful,” the statement reads. “The value of video games is in their workers. As a unified voice, we, the members of the industry-wide video game workers’ union UVW-CWA, are standing together and refusing to let corporate greed decide the future of our industry.”
Eurogamer reached out to the FTC to inquire about the status of the proposed acquisition but the agency refused to comment on the grounds that it doesn’t speak about “pending mergers or acquisitions.” It’s worth noting that President Trump’s son-in-law, Jared Kushner, is involved with the purchase. The Financial Times that the deal won’t face any real opposition, as “what regulator is going to say no to the president’s son-in-law?”
As previously noted, the proposed deal is valued at $55 billion. This would take the company private for the first time in its 35-year history. Various entities have partnered to make this deal, including the Saudi Arabia Public Investment Fund (PIF), Silver Lake and Kushner’s Affinity Partners. US Senators Elizabeth Warren and Richard Blumenthal have also voiced concerns about this acquisition.
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Lawrence Bonk
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China’s antitrust regulator has opened an investigation into of Israeli connected-vehicle chip company Autotalks. The State Administration for Market Regulation (SAMR) alleges that Qualcomm is suspected of violating China’s anti-monopoly laws by not disclosing certain details of the deal.
Qualcomm had initially agreed to acquire the fabless chip company in 2023 to expand its Snapdragon portfolio into more automotive applications. Autotalks creates chips, sensors and vehicle-to-everything (V2X) communication tech centered in part on safety for vehicles. It has been a few months since the acquisition was finalized, with the new probe coming amid trade negotiations between the United States and China.
The deal was previously investigated by both the and the , with Qualcomm the acquisition in early 2024. The exact process of how the deal was reopened is not clear, as the acquisition was only announced once it had been finalized and received regulatory approval
Last month, that NVIDIA’s $6.9 billion acquisition of Mellanox also ran afoul of national regulations. The regulators also said the deal violated conditional terms outlined by regulators on initial approval. reported that China’s regulators held on to that decision for months, purportedly to gain leverage in trade discussions with the US.
The bulk of these investigations have come while the US and China are engaged in negotiations around , tariffs, trade and more. Today China drastically expanded its , targeting defense and semiconductor companies outside the country.
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Andre Revilla
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Artificial intelligence company OpenAI has acquired Roi, a startup focused on using AI to personalize investing. Founded to make investing more accessible, Roi built tools that deliver real-time, individualized financial insights and education, according this week’s Roi announcement. The company said the acquisition marks a milestone in its mission to bring personalization to software broadly, […]
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Jack Henry & Associates Inc. announced today that it has acquired Victor Technologies, a cloud-native, API-first provider of embedded payments solutions, from MVB Financial. The acquisition is designed to strengthen Jack Henry’s Payments-as-a-Service (PaaS) offerings for financial institutions seeking to embed payment capabilities into third-party platforms, according to Jack Henry’s Oct. 1 release. Victor Technologies, […]
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Jack Henry & Associates Inc. announced today that it has acquired Victor Technologies, a cloud-native, API-first provider of embedded payments solutions, from MVB Financial. The acquisition is designed to strengthen Jack Henry’s Payments-as-a-Service (PaaS) offerings for financial institutions seeking to embed payment capabilities into third-party platforms, according to Jack Henry’s Oct. 1 release. Victor Technologies, […]
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Solifi, a global provider of secured finance technology, has acquired DataScan, a North American leader in wholesale finance and inventory risk management, the company announced today. Founded in 1989 and based in Alpharetta, Georgia, DataScan provides wholesale loan servicing, inventory audits and digital risk management tools to more than 45 banks and captive lenders. The […]
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Solifi, a global provider of secured finance technology, has acquired DataScan, a North American leader in wholesale finance and inventory risk management, the company announced today. Founded in 1989 and based in Alpharetta, Georgia, DataScan provides wholesale loan servicing, inventory audits and digital risk management tools to more than 45 banks and captive lenders. The […]
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Solifi, a global provider of secured finance technology, has acquired DataScan, a North American leader in wholesale finance and inventory risk management, the company announced today. Founded in 1989 and based in Alpharetta, Georgia, DataScan provides wholesale loan servicing, inventory audits and digital risk management tools to more than 45 banks and captive lenders. The […]
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PNC’s acquisition of FirstBank, announced Sept. 8 would see the banks’ full integration by midyear 2026. The deal, with an estimated value of $4.1 billion, halted FirstBank’s core migration plans, FirstBank Chief Information Officer Christian Winward told Bank Automation News. “FirstBank was in the process of migrating to Finxact, but that project had not yet […]
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Whitney McDonald
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PNC’s acquisition of FirstBank, announced Sept. 8 would see the banks’ full integration by midyear 2026. The deal, with an estimated value of $4.1 billion, halted FirstBank’s core migration plans, FirstBank Chief Information Officer Christian Winward told Bank Automation News. “FirstBank was in the process of migrating to Finxact, but that project had not yet […]
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Whitney McDonald
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Paramount Skydance, apparently now in a state of permanent merger, plans to make a bid to acquire Warner Bros. Discovery, . The company was recently formed following of Paramount for $8 billion. Newly anointed Paramount Skydance CEO David Ellison was able to afford the acquisition thanks to , Larry Ellison.
Despite Warner Bros. Discovery’s to split back into , “the bid will be for the entire company, including its cable networks and movie studio,” the report says. A successful acquisition of the company will likely be very pricey. According to The Wall Street Journal, “Warner Bros.’s nearly $33 billion market cap is more than double that of Paramount Skydance.”
Further consolidation in the entertainment industry will likely lead to less varied and interesting film and television, but a merger between Paramount Skydance and Warner Bros. Discovery could also concentrate even more power in the hands of the federal government.
Prior to the deal going through, to settle a lawsuit with Trump, which may have affected the President’s stance towards the acquisition. Skydance’s commitment to abandon DEI programs at CBS and make the television network “embody a diversity of viewpoints across the political and ideological spectrum” was also cited as justification for the FCC approving the acquisition. Following the deal, Paramount appointed Kenneth Weinstein as an Ombudsman to “review editorial questions and concerns from outside entities and employees.” Weinstein previously served as an advisor to the Trump administration, Variety reports.
Fusing two giant Hollywood studios obviously impacts competition. The question now is how the FCC will respond to this possible acquisition, with even more money and power on the line.
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Ian Carlos Campbell
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PNC Financial Services Group Inc. will fulfill its goals for expanding across Colorado with the planned takeover of FirstBank Holding Co., and the regional-banking giant will focus its branch-opening effort on other states instead, PNC Chief Executive Officer Bill Demchak said. Pittsburgh-based PNC agreed to buy FirstBank for about $4.1 billion to add $26.8 billion […]
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Bloomberg News
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THE BLUEPRINT:
LaBella Associates acquires Patchogue-based EAR to expand NY reach
EAR specializes in site remediation, drilling, and water treatment
All 34 EAR employees will join LaBella under its brand
Environmental Assessment & Remediations (EAR), a Patchogue-based hydrologic and environmental consulting firm, has been acquired by LaBella Associates, an international architecture, engineering, environmental and planning company.
Terms of the deal were not disclosed.
Founded in 1986, EAR provides technical, responsive environmental services to a diverse client base that includes public agencies, major oil companies, utilities, consulting firms, Fortune 500 companies and contractors. Its services include site investigation, drilling, and injection to remediation system design and installation, analytical reporting, and operations and maintenance.
Recent EAR projects include remediating contamination at a public supply well in Suffolk County, treating soil and groundwater in Queens, installing sub-slab depressurization systems in Brooklyn, and managing multiple remediation sites on Long Island and in the lower Hudson Valley, according to a company statement. The firm has also installed treatment systems on potable wells across New York State and partnered with LaBella to provide groundwater modeling services under the New York State Office of General Services Drinking Water Source Protection contract.
The acquisition expands LaBella’s presence on Long Island and strengthens its environmental capabilities, particularly in serving clients in the brownfield and commercial real estate sectors, according to a company statement.
“We are thrilled to welcome the deeply experienced EAR team to LaBella,” Jeff Roloson, president of LaBella Associates, said in the statement. “Known for their technical acumen and trusted client relationships, EAR brings specialized capabilities and a commitment to excellence that aligns perfectly with LaBella’s values.”
All 34 EAR employees will join LaBella and operate under the company’s brand.
“This transition strengthens our ability to serve clients with added resources and regional presence, without changing the high-quality service and relationships we’ve built,” Dave Vigliotta, EAR founder, said in the statement. “LaBella is a perfect fit for our company, based on its reputation of professionalism and integrity. We are excited to offer our staff opportunities for growth, diversification, and enhanced career development, and look forward to becoming part of the LaBella family.”
For LaBella, the addition of EAR enhances its brownfield, due diligence, and ecological service offerings while expanding coverage across Long Island and downstate New York.
LaBella Associates employs more than 2,000 multi-disciplinary consultants who plan, design, engineer and manage public and private projects. The company is involved in infrastructure, buildings, environmental and energy projects throughout the eastern U.S., the United Kingdom and Spain, according to the statement.
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David Winzelberg
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Online, December 10, 2024 (Newswire.com)
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NovaTaste, a global leader in taste innovation, today announces that it has acquired McClancy Foods & Flavors (“McClancy”), a US-based solutions expert in custom dry ingredients for foodservice and industrial customers. By joining forces with McClancy, NovaTaste will enter the rapidly growing US market and increase its exposure to the Quick Service Restaurants foodservice segment (“QSR”). McClancy will continue to operate under the McClancy brand and will offer its US customers the opportunity to partner with them overseas, leveraging NovaTaste’s innovation capabilities, international network and infrastructure.
Established more than 75 years ago, McClancy is a savoury solutions expert, co-creating foods and ingredients with its customers in a variety of custom packaging options. The company operates two manufacturing facilities in Fort Mill, South Carolina, with more than 250 employees and serves customers across the US active in foodservice, retail and industry.
Erik Wiberg-Lyng, CEO of NovaTaste, said: “This acquisition marks an exciting milestone for both NovaTaste and McClancy. By combining the talented McClancy team and their exceptional expertise with our global network and infrastructure, we are unlocking new opportunities for growth and innovation. Together, we will strengthen our position as a global leader in taste innovation and set new standards for our industry. I am looking forward to embarking on this exciting journey with the McClancy team.”
Stephen Andresen, CEO of McClancy, added: “Over the past 75 years, McClancy has become a primary player in the dry-blends category, serving some of the biggest companies in the food business. We are excited to have found a partner in NovaTaste that values our work and experience, and we look forward to continuing our growth story together.”
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About NovaTaste
NovaTaste is a global leader in taste innovation, providing a range of value-add savoury ingredients and blends to improve taste and texture, as well as extend the shelf life of food products. It operates a range of brands, including Wiberg and Piasa. The company employs 1,900 employees, who are united by the NovaTaste purpose – to revolutionize the way the world experiences food. NovaTaste serves customers including food manufacturers, butchers and food service players, across Europe, North America and Asia.
About McClancy Foods & Flavors
For over 75 years, McClancy has combined a passion for culinary excellence with a culture of collaboration and integrity. McClancy’s capabilities enable them to craft dry rubs and seasonings tailored to a wide range of categories, from classic flavors to emerging trends. What sets them apart is their ‘yes-centric’ approach to all that they do. McClancy works closely with its customers, adapting to their needs. McClancy predominantly works with brands, further processors / manufacturers and operators on product matching, formulation optimization, market trends and product innovation.
Contact Information
Melanie Bauer
melanie.bauer@novataste.com
+49 162 254 3254
Daniela Haslinger-Hild
daniela.haslinger-hild@novataste.com
+43 6765382094
Source: McClancy Foods & Flavors
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Two acquisitions and several new products are supporting Mastercard’s ongoing innovation efforts. “All that we’re doing on strengthening our product solutions and our acquisitions … is going to be the way for us to win,” Chief Executive Michael Miebach said during Mastercard’s Q3 earnings call today. Mastercard has announced these recent deals: On Oct. 1: […]
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Whitney McDonald
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