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Jefferies analysts wrote in a note the Federal Reserve putting the brakes on interest rate hikes has given acquirers more certainty around their funding costs, helping dealmaking. Cisco's deal valued Splunk at 7 times projected 12-month revenue, according to Jefferies. "We note that the typical security company with 20% growth trades at about 7 times (sales)," BTIG analysts wrote in a note last week. Private software companies may also be more receptive to takeovers. "A tidal wave of software M&A (is) on the horizon," Wedbush analysts wrote in a note last week.

Persons: Chuck Robbins, David Chen, Morgan Stanley, Chen, Jefferies, Keith Skirbe, Houlihan Lokey's, Milana Vinn, Anirban Sen, Anna Driver Organizations: Cisco Systems, Cisco, Crowdstrike Holdings, Microsoft, Adobe, Oracle, Francisco Partners, TPG Inc, Federal Reserve, IBM, Reuters Graphics Reuters, Jefferies, Thomson Locations: New York

☆ NASA's first asteroid sample parachutes into Utah desert
▼ + stars: | 2023-09-24 | by ( Steve Gorman | ) www.reuters.com time to read: +4 min

Sept 24 (Reuters) - A NASA space capsule carrying the largest soil sample ever scooped up from the surface of an asteroid streaked through Earth's atmosphere on Sunday and parachuted into the Utah desert, delivering the celestial specimen to scientists. It marked only the third asteroid sample, and by far the biggest, ever returned to Earth for analysis, following two similar missions by Japan's space agency ending in 2010 and 2020. OSIRIS-REx collected its specimen three years ago from Bennu, a small, carbon-rich asteroid discovered in 1999. Parachutes deployed near the very end of the descent, slowing the capsule to about 11 mph before it fell gently onto the desert floor of northwestern Utah. The Bennu sample has been estimated at 250 grams (8.8 ounces), far surpassing the 5 grams carried back from Ryugu in 2020 or the tiny specimen delivered from asteroid Itokawa in 2010.

Persons: REx, NASA's, Steve Gorman, Rosalba O'Brien Organizations: NASA, University of Arizona, Empire, NASA's Johnson Space Center, Thomson Locations: Utah, Salt Lake City, military's, Bennu, Ryugu, Houston, Los Angeles

☆ Capsule with NASA's first asteroid sample heads for Utah touchdown
▼ + stars: | 2023-09-24 | by ( Steve Gorman | ) www.reuters.com time to read: +5 min

The robotic spacecraft OSIRIS-REx is scheduled to release the gumdrop-shaped capsule, transporting about a cup of gravelly asteroid material, at 6:42 a.m. EDT (1042 GMT) for a final descent to Earth, climaxing a seven-year voyage. The spacecraft departed Bennu in May 2021 for a 1.2-billion-mile (1.9-billion-km) cruise back to Earth, including two orbits around the sun. The Bennu sample is estimated at 250 grams (8.8 ounces), far surpassing the 5 grams of material carried back from Ryugu in 2020 or the tiny specimen delivered from asteroid Itokawa in 2010. Scientists hope the integrity of the capsule and inner cannister bearing the asteroid material will be maintained through re-entry and landing, keeping the sample pristine and free of any terrestrial contamination. The main portion of the OSIRIS-REx spacecraft, meanwhile, is expected to sail on to explore yet another near-Earth asteroid, named Apophis.

Persons: Joel Kowsky, REx, climaxing, NASA's, Steve Gorman, Rosalba O'Brien Organizations: United Launch Alliance, V, Cape Canaveral Air Force, NASA, Handout, Reuters, University of Arizona, Empire, NASA's Johnson Space Center, Thomson Locations: Florida, U.S, Utah, Salt Lake City, military's, Ryugu, Houston, Los Angeles

☆ NASA's first asteroid sample on track for Sunday parachute landing in Utah
▼ + stars: | 2023-09-23 | by ( Steve Gorman | ) www.reuters.com time to read: +4 min

Acquire Licensing Rights Read moreLOS ANGELES, Sept 23 (Reuters) - A NASA space capsule carrying a sample of rocky material plucked from the surface of an asteroid three years ago hurtled toward Earth this weekend headed for a fiery plunge through the atmosphere and a parachute landing in the Utah desert on Sunday. OSIRIS-REx collected its specimen from Bennu, a carbon-rich asteroid discovered in 1999 and classified as a "near-Earth object" because it passes relatively close to our planet every six years. The Bennu sample is estimated at 250 grams (8.8 ounces), far surpassing the amount of material carried back from asteroid Ryugu in 2020 and asteroid Itokawa in 2010. The main portion of the OSIRIS-REx spacecraft, meanwhile, is expected to sail on to explore yet another near-Earth asteroid. Reporting by Steve Gorman in Los Angeles, Editing by Rosalba O'BrienOur Standards: The Thomson Reuters Trust Principles.

Persons: REx, Sandra Freund, Lockheed Martin, Dante Lauretta, NASA's, Steve Gorman, Rosalba O'Brien Organizations: United Launch Alliance, V, Cape Canaveral Air Force, NASA, Lockheed, University of Arizona, Empire, NASA's Johnson Space Center, Thomson Locations: Florida, U.S, ANGELES, Utah, military's, Salt Lake City, Tucson, Houston, Los Angeles

☆ Diners are clamoring for earlier reservations. 'When did a 6:00 dinner reservation become the new 8:00?' New York restaurateur Danny Meyer asks.
▼ + stars: | 2023-09-21 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +3 min

The 6 p.m. reservation is now the "most prized table" in New York, per restaurateur Danny Meyer. Meyer offered three theories for the change, including the social isolation of remote work. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. "When did a 6:00 dinner reservation become the new 8:00, most prized table of the night — and will it last?" celebrated restaurateur Danny Meyer asked in a Wednesday post on X, the social media network formerly known as Twitter.

Persons: Danny Meyer, Meyer, Steve Hafner, It's, Roni Mazumdar Organizations: Shake, Service, Twitter, New York Times Magazine, Wall, Square Hospitality, Gramercy Locations: New York, Wall, Silicon

☆ The ‘Mandela Effect’: How a psychological phenomenon took over the internet
▼ + stars: | 2023-09-18 | by ( Jacopo Prisco | ) edition.cnn.com time to read: +10 min

But you might also be experiencing the so-called Mandela Effect. Ken Drinkwater, a fellow researcher at Manchester Metropolitan, added that the effect might be connected to a condition called false memory syndrome. Jon Elswick/AP; Scott Olson/Getty ImagesSome common examples of the Mandela Effect have perhaps logical explanations, such as Mr. “Advocates of the Mandela Effect think it’s a genuine effect. These people had this false memory right after learning about the characters!

Persons: Ash, Fiona Broome, Nelson Mandela, Mandela, Broome, “ Luke, ”, Wilma Bainbridge, hadn’t, Deepasri Prasad, Bainbridge, Prasad, Stan, Jan Berenstain, ” Bainbridge, Neil Dagnall, Dagnall, “, ” Dagnall, Roediger, McDermott, Ken Drinkwater, they’ve, Drinkwater, they’d, you’ve, Jon Elswick, Scott Olson, David Adkins, Sinbad, Dennis Van Tine, Shaquille O’Neal, Clara Nellist, Lionel Flusin, hasn’t, ” Drinkwater, University of Chicago’s Bainbridge Organizations: CNN, “, Bears, University of Chicago’s, Science, UChicago, Dartmouth College, Manchester Metropolitan University, Manchester Metropolitan, Monopoly, Fox Television Network, European Organization for Nuclear Research, CERN, Collider Locations: South Africa, “, Hanover , New Hampshire, United Kingdom, New York City, Switzerland —, Geneva

Typically, it’s the faithful who carry the various likenesses of Mary in similar festivals across the world. A century ago, the Vatican formally granted special permission for animals to pull the floats with life-sized statues of the Virgin Mary, said the Rev. Another uncommon aspect of the procession is the iconic century-old sacred image standing on the bow of a boat-shaped float – the Virgin Mary breastfeeding infant Jesus. At least 50 were women dressed in pink and blue like the Virgin statue, carrying Jesus dolls or real babies. One of this year’s floats represented Our Lady of Peace, her statue framed by flags of conflict-ridden countries like Ukraine and Libya.

Persons: ”, Antonio Faustino, Virgin Mary, “, Pope Francis, Mary, Fernando Albano Cardoso, Faustino, Jesus, Albano, Julieta Pereira, ” Pereira, Filipe Mendonça, he’s, Alfredo Teixeira, Peace, –, gingerly, Francisco Lopes, Jennifer Esteves Organizations: Catholic, Vatican, Catholic Church, Catholic University of Portugal, Lamego’s, Lilly Endowment Inc, AP Locations: LAMEGO, Portugal, Portugal’s, Nossa Senhora, ”, Lisbon, Douro, Switzerland, Ukraine, Libya, Portuguese, Germany

☆ How a single hard-charging CEO helped the US dollar take over the world
▼ + stars: | 2023-09-12 | by ( Henry Farrell | Abraham Newman | ) www.businessinsider.com time to read: +14 min

Wriston's financial innovations helped create the modern Eurodollar market — a vast offshore realm of financial transactions in US dollars happening outside of US borders. As he explained in 1979, the "current banking network, with its Euromarkets and its automated payments system" seemed dull and technical, but it had immense political consequences. Wriston helped rebuild this clanking machine into an engine of transformation, welding disjointed national markets into a true world economy. It began to develop a new kind of sanction, which used its control of "dollar clearing" to force international banks to implement US policy outside its borders. Instead of the stateless, government-less world that Wriston envisioned, the internationalization of the US dollar became the precedent for a massive transformation of America's financial power.

Persons: Walter Wriston, Wriston, Friedrich Hayek's, Banks, Eric Sepkes, Eric Helleiner, Henry Holt, Helleiner, Henry Farrell, Johns Hopkins SAIS, Friedrich Schiedel, Abraham Newman Organizations: Citibank, Staff, of, Technology, Bankers, JPMorgan, Warburg, Federal Reserve, buccaneers, US Department of, Treasury, SWIFT, Society, Worldwide Interbank, Johns Hopkins, Politics, The Washington Post, School of Foreign Service, Government Department, Georgetown University, Henry Holt and Company Locations: London, of London, Europe, Argentina, New York, United States, Eurodollars, Italy, Japan, Soviet Union, America, Iran, Russia, Ukraine

☆ Workers Plow Through Great Wall of China, Leaving a Hole
▼ + stars: | 2023-09-05 | by ( Livia Albeck-Ripka | More About Livia Albeck-Ripka | ) www.nytimes.com time to read: +1 min

Two workers have been detained in northern China after local authorities said they plowed through a section of the country’s Great Wall with an excavator, leaving a gaping hole. The security bureau said it was first notified of the hole in a section of wall, near the township of Yangqianhexiang, about 215 miles east of Beijing, on the afternoon of Aug. 24. Law enforcement officers rushed to the scene to find that a piece of the wall, believed to have been constructed by the Ming dynasty between the 14th and 17th centuries, had been severely “excavated and damaged by large-scale machinery,” the bureau said. The man, named in the release as Zheng, and the woman, named as Wang, are from the autonomous region of Inner Mongolia in the country’s north and were taken in for investigation, the bureau added. They have been charged with destroying a cultural relic, The China Daily, a state-owned media outlet, reported.

Persons: Zheng, Wang Organizations: Public Security Bureau Locations: China, Youyu, Yangqianhexiang, Beijing, Inner Mongolia

☆ The Great Wall of China: Two people detained for allegedly damaging cultural relic with excavator
▼ + stars: | 2023-09-04 | by ( Mengchen Zhang | ) edition.cnn.com time to read: +1 min

CNN —Two people have been detained in China after allegedly damaging a section of the Great Wall in the northern Shanxi province with an excavator, according to state broadcaster CCTV. Authorities in Youyu County said they received a report on August 24 that a gap in the wall was created in Yangqianhe Township, CCTV reported. Police said the investigation was ongoing. The area, known as the 32nd Great Wall, is one of the surviving complete walls and watch towers dated back to the Ming dynasty (1368-1644) and is listed as a provincial cultural relic site. The Great Wall was designated a UNESCO World Heritage Site in 1987.

Organizations: CNN, CCTV, Police, UNESCO, Heritage Locations: China, Shanxi, Youyu County, Yangqianhe Township

☆ A Welsh man uploaded a Facebook video of himself destroying 4,500 year-old rock art. Now, he will get 4 months in prison as officials say the Bronze Age artifact is 'lost forever.'
▼ + stars: | 2023-09-04 | by ( Dan Latu | ) www.businessinsider.com time to read: +2 min

The sandstone, located in South Wales, featured 4,500 year-old "cup marks" and was being studied. He received a $5,500 fine and 4-month prison sentence, according to the BBC. 52-year-old Julian Baker filmed himself excavating and destroying a 4,500 year-old stone relic and uploaded the video to Facebook. "Significant archaeological information has been lost forever," a Cadw spokesperson told the BBC. "We welcome the court's decision in this case, the first we have submitted under section 28 of the Ancient Monuments and Archaeological Areas Act 1979," the CADW spokesperson told the BBC.

Persons: Julian Baker, Baker Organizations: BBC, Service, Facebook, Cadw, Welsh Locations: South Wales, Wall, Silicon, Cardiff, Wales, England

A few years ago, the charity ran out of money and quietly stopped operating, so the building began filling up with drug users and desperately poor migrants, residents said. Spokespeople for the City of Johannesburg and police did not respond to requests for comment about the residents' accounts. But Johannesburg city manager Floyd Brink said there was a plan to get hijacked buildings back under control. But human rights groups took them to court, said Annie Michaels, an activist from the Johannesburg Migrants Advisory Panel, which has been supporting migrants in the building. Shocked at the state of the building, Jack urged her brother Dube to move, but he never did.

Persons: Sihle Dube, didn't, Dube, Bertha Gxowa, Angela Rivers, Kabelo Gwamanda, Floyd Brink, Cyril Ramaphosa, Ramaphosa, contemptuously, Thando, Ethel Jack, Jack, I've, Chinte Mustafa, Annie Michaels, Michaels, he'd, Tim Cocks, Alexandra Zavis, Ros Russell Organizations: Association, City, Bertha, REUTERS, Thomson Locations: Johannesburg Fire, JOHANNESBURG, Johannesburg, Germiston, Johannesburg's, South, South Africa, Africa, Utrecht, Malawi

☆ Zelenskyy 'bombed' at his first White House meeting and 'pissed Biden off,' says new book
▼ + stars: | 2023-08-30 | by ( Rebecca Rommen | ) www.businessinsider.com time to read: +4 min

Zelenskyy "bombed" his first Oval Office meeting with Joe Biden, according to a new book. The book says that even Zelenskyy's most ardent sympathizers in the White House thought he'd overreached. "The Last Politician: Inside Joe Biden's White House and the Struggle for America's Future" by Franklin Foer will be published in the US next week and is a source of anxiety for the White House, Politico reports. The Ukrainian president had long sought a White House meeting amid mounting tensions with Russia. Zelenskyy and Biden have forged a powerful wartime partnership US President Joe Biden and Ukrainian President Volodymyr Zelenskyy walk during an unannounced visit in Kyiv, Ukraine, on February 20, 2023.

Persons: Joe Biden, Biden, Franklin Foer, he'd, Zelenskyy, Joe Biden's, Foer, Donald Trump, —, Trump's, Trump, Volodymyr Zelenskyy Organizations: NATO, Service, White, Politico, Guardian, Random, Presidential, New York Times Locations: Wall, Silicon, Russia, Ukraine, France, Germany, Kyiv

☆ British Museum seeks recovery of some 2,000 stolen items
▼ + stars: | 2023-08-26 | by ( ) www.reuters.com time to read: +2 min

[1/3] An employee poses as he views examples of the Parthenon sculptures, sometimes referred to in the UK as the Elgin Marbles, on display at the British Museum in London, Britain, January 25, 2023. REUTERS/Toby Melville/File Photo Acquire Licensing RightsLONDON, Aug 26 (Reuters) - Around 2,000 artefacts including gold jewellery and gems had been stolen from the British Museum over a long period of time, but recovery efforts were already under way, the museum's chair George Osborne said on Saturday. Museum director Hartwig Fischer said on Friday he would step down after admitting to failings in its investigation into the theft of items from its collection. A "forensic" inquiry was being conducted to find out what had been stolen, Osborne said. "We've already started to recover some of the stolen items," he added, without giving any details of what had been recovered or how.

Persons: Toby Melville, George Osborne, Stone, Hartwig Fischer, Osborne, we're, I'm, Paul Sandle, David Holmes Organizations: Elgin, British Museum, REUTERS, BBC, Police, Thomson Locations: London, Britain, British

☆ Poles get a peek of the past in Warsaw as old streets uncovered
▼ + stars: | 2023-08-18 | by ( ) www.reuters.com time to read: +3 min

Acquire Licensing Rights Read moreWARSAW, Aug 18 (Reuters) - Construction work on a flagship new square in Warsaw captured a glimpse of the Polish capital's past when builders uncovered the remains of long-lost streets buried underground. Central Square will reflect the layout of the old streets that criss-crossed the area until the 1950s, the city council says. "These rooms were used by the dignitaries so that after speeches they could go and refresh themselves, relax," said Pienkos. "During the building work we have a chance to look into this underground space, maybe for the last time. Reporting by Alan Charlish and Kacper Pempel; Editing by Susan FentonOur Standards: The Thomson Reuters Trust Principles.

Persons: Joseph Stalin ., Mikolaj, Alan Charlish, Susan Fenton Organizations: of Culture, Socialist, Warsaw, Parade, Builders, Labour, Thomson Locations: of, Warsaw, WARSAW, Polish, Soviet

☆ Private equity bites off mostly what it can chew
▼ + stars: | 2023-08-17 | by ( Jonathan Guilford | ) www.reuters.com time to read: +4 min

Private equity firms notched nearly $300 billion of acquisitions worldwide through Aug. 15, according to Dealogic data. Deals in the $1 billion to $5 billion range are running closest to the same pace as 2022. STG, for example, secured a loan to value of more than 40% from private lenders. With capital tighter, it’s easy to understand why buyout firms are pursuing humbler deals more likely to exceed the minimum returns investors expect. GTCR’s plan to buy 55% of Worldpay at a $17.5 billion valuation requires an equity check equivalent to 15% of the buyout firm’s assets.

Persons: Simon & Schuster, STG, Clayton, Rice, Banks, Ares Capital’s, hasn’t, Jeffrey Goldfarb, Sharon Lam Organizations: KKR, New York Stock Exchange, Reuters, Avid Technology, GTCR, TPG, Francisco Partners, Bain Consulting, Thomson, & $ Locations: New York, U.S, can’t, Dubilier

But in the adjacent 560-square-foot room — reached through a large glass door — the couple’s priorities become clear: The 19th-century oak table at which Råman works, a relic from a nearby castle, sits in the center of the almost empty space. Every piece has a story: “This is a French pipe for bird hunting calls,” she said, picking up a thin carved wooden straw. “This one with the little pouf at the end? And here are my grandfather’s calipers, which I use constantly. “They remind me of my life,” she said.

Persons: ”, Michael Anastassiades, Råman Organizations: Okko Locations: Swedish, French, London, Cyprus

☆ Small businesses turned an Chicago old meatpacking plant into a living experiment in sustainable food, and they are thriving
▼ + stars: | 2023-08-10 | by ( Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +14 min

InsiderAt The Plant in Chicago, small businesses are tinkering with sustainable food production. It was designed to make food," Edel said. The Plant's white whale is turning food waste into cashThe Plant's large backyard features a greenhouse, left, farms, and an anaerobic digester, right. The innovators believe they can pull antioxidants or vanilla, for example, from the digesting food waste and sell it. "Take the waste from vertical farming or food waste, put it in an anaerobic digester, generate energy — gas, or turn that into electricity.

Persons: Morgan McFall, Johnsen Chicago, Justine, Johnsen, John Edel, Johnsen Edel, Edel, Margot Briane, gestured, Adam Pollack, Shawn Smith, Leonor Quezada, Heffer BBQ, Smith, Quezada, We're, Heffer, Johnsen Jana Kinsman, Edel hasn't, that's, Johnsen Leonard Lerer, Leonard Lerer, Lerer, There's Organizations: Green Tech, Service, CHICAGO, Workers, Whiner, US Department of Agriculture, Sciences Locations: Chicago, Texas, The, Morgan

☆ China repeats call for Philippines to remove grounded warship
▼ + stars: | 2023-08-08 | by ( ) www.reuters.com time to read: +3 min

The dispute over the Second Thomas Shoal in South China Sea came after Manila accused China's coast guard of "excessive and offensive actions" against Philippines vessels. "China once again urges the Philippine side to immediately remove the warship from Second Thomas Shoal and restore it to its unoccupied state," China's foreign ministry said in a statement. Tensions have soared between the two countries over the South China Sea under Philippine President Ferdinand Marcos Jr, with Manila pivoting back to the United States, which supports Manila in its maritime disputes with China. Echoing the foreign ministry, the Chinese ambassador to the Philippines said on Tuesday China had no choice but to respond. China claims sovereignty over almost the entire South China Sea, which overlaps with the waters of Malaysia, Vietnam, Brunei, Taiwan and the Philippines.

Persons: Thomas Shoal, Thomas, Jonathan Malaya, Ferdinand Marcos Jr, Huang Xilian, Ella Cao, Liz Lee, Karen Lema, Jacqueline Wong, Gerry Doyle Organizations: China Coast Guard, Philippine Coast Guard, Philippine, REUTERS, National Security Council, South China, China, Thomson Locations: South, BEIJING, MANILA, Philippines, Manila, Beijing, South China, China's, China, Philippine, Ayungin, United States, Malaysia, Vietnam, Brunei, Taiwan

☆ The moon is open for business, and entrepreneurs are racing to make billions
▼ + stars: | 2023-08-06 | by ( Marianne Guenot | ) www.businessinsider.com time to read: +15 min

"Definitely the moon is going to be a big business," said Prachi Kawade, a senior analyst at NSR, a research-and-consulting company focused on the space market. At first, lunar missions could be limited to a couple of weeks or months in a lunar base camp. Another lead for moon mining is the rare-earth elements that millennia of meteorites crashing into the moon may have left behind. Fly me to the moonHowever, the most lucrative part of the moon market by far is rocket development, said Kawade, who leads NSR's lunar-market report. NASA built its own system for its upcoming Artemis moon missions, the Space Launch System (SLS) mega-rocket with its Orion spacecraft.

Persons: Artemis, Brendan Rosseau, Lockheed Martin, Prachi Kawade, that's, Rosseau, Steve Creech, Creech, Kawade, NASA We're, George W, Bush, Rousseau, landers, Per, NASA's, NASA Ames, Daniel Rutter, Elon Musk's, Artemis III, Musk, NASA isn't, Glenn, III, VIII, Bill Nelson, Svetla Ben, Itzhak, Ben Organizations: NASA, Service, Harvard Business School, SpaceX, Origin, Nokia, Lockheed, General Motors, NSR, Apollo, ESA, Payload, Astrobotic Technology, Rover, Exploration Rover, Polar Resources, Mining, Orion, Elon, Elon Musk's SpaceX, Politico, Artemis, China, Air University Locations: Wall, Silicon, China, Pittsburg, Texas, California, Colorado, Japan, Russia, Latin America, Central Asia, Pakistan

☆ Tupperware may not go out of business after all
▼ + stars: | 2023-08-04 | by ( David Goldman | ) edition.cnn.com time to read: +2 min

New York CNN —Tupperware was left for dead; a relic of a lost time when leftovers storage had but one dominant market player. In other words, Tupperware (TUP) has been given new life. Tupperware is still an extremely troubled brand, and the stock is still trading below $6 a share. Tupperware has been considering layoffs and property sales to stay afloat. Once sold exclusively by multi-level marketers, similar to Avon and Amway, Tupperware parties were a staple of a bygone era.

Persons: New York CNN — Tupperware, “, ”, Mariela Matute, aren’t, Tupperware, CNN’s Nicole Goodkind Organizations: New, New York CNN, Tupperware, ”, BlackRock, Amway, Target, New York Stock Exchange Locations: New York, Avon, noncompliance

NEW YORK, Aug 3 (Reuters) - Symphony Technology Group (STG) and Francisco Partners are among the private equity firms competing to acquire media editing software maker Avid Technology Inc (AVID.O), according to people familiar with the matter. Avid, Goldman and Francisco Partners declined to comment. Palo Alto-based STG is a mid-market private equity firm focused on technology investments. Francisco Partners is a prolific tech investor, which has raised over $45 billion to date. Earlier this week, Francisco Partners teamed up with TPG Inc (TPG.O) to acquire New Relic (NEWR.N) for $6.5 billion.

Persons: Goldman, STG, Palo, Francisco, Milana Vinn, Anirban Sen, Sharon Singleton, Jonathan Oatis Organizations: Symphony Technology, Francisco Partners, Avid Technology Inc, Avid, Goldman Sachs, Reuters, Momentive, Inc, TPG Inc, Impactive, Thomson Locations: Burlington , Massachusetts, Palo Alto, New York

☆ Francisco Partners & TPG to take New Relic private in $6 billion all-cash deal
▼ + stars: | 2023-07-31 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

A consortium led by Francisco Partners and private equity group TPG will take software provider New Relic private in an all-cash, $87-a-share offer that values the company at nearly $6.5 billion, the company announced Monday. Reuters reported in May that Francisco Partners and TPG had ended deal talks after failing to secure enough debt financing to meet New Relic's desired valuation. Since that report, the private equity groups were able to obtain financing and meet New Relic's valuation requirements. Under the terms of the deal, New Relic will have a 45-day "go-shop" period, during which it can entertain offers from other qualified bidders. Francisco Partners is a technology-focused private equity firm with past investments in Barracuda Networks, On Semiconductor , and K2.

Persons: Lew Cirne, Jana, Zscaler Organizations: Francisco Partners, TPG, New York Stock Exchange, Reuters, New, Jana Partners, Barracuda Networks, Semiconductor, Sumo Logic

☆ Stocks making the biggest moves midday: SoFi, ON Semiconductor, Disney, Sweetgreen and more
▼ + stars: | 2023-07-31 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

SoFi Technologies – Shares of the fintech company popped more than 18% after it reported second-quarter results and lifted its full-year guidance. ON Semiconductor — The chipmaker's shares jumped 3.2% after it posted an earnings and revenue beat for the second quarter. New Relic — Shares jumped 13.4% after a private equity consortium announced it would take the software company private. Sweetgreen — The salad chain's shares jumped 11% Monday after an upgrade from Piper Sandler. Adobe — The software stock jumped 3.9% after Morgan Stanley upgraded the shares to overweight from equal weight.

Persons: FactSet, Disney, Kevin Mayer, Tom Staggs, Bob Iger, Spero, Sweetgreen, Piper Sandler, XPeng, Cowen, Morgan Stanley, Morgan Stanley's, Goldman Sachs, Wayfair, Salesforce's, — CNBC's Hakyung Kim, Yun Li, Sarah Min, Tanaya Macheel, Samantha Subin Organizations: SoFi Technologies, Disney, Financial Times, Food and Drug Administration, UBS, Hasbro, of, Bank of America, CVS, Adobe, Chevron, New York Community Bancorp, Deutsche Bank, CSX, RBC Locations: Bob Iger .

July 31 (Reuters) - New Relic (NEWR.N) said it has agreed to be taken private by TPG (TPG.O) and Francisco Partners in a $6.5 billion all-cash deal amid stiff competition in the application performance monitoring space from rival software companies Datadog and Dynatrace. New Relic's shares rose about 13% to $83.85 on Monday following the deal involving the private equity firms. New Relic reported annual revenue growth of about 18% compared with Dynatrace's (DT.N) 25% jump. New Relic on Monday reported first-quarter revenue of $242.6 million, compared with analysts' estimates of $239.2 million, according to Refinitiv IBES data. Qatalyst Partners is the company's financial adviser, while Morgan Stanley is the lead financial adviser for Francisco Partners and TPG.

Persons: Kingsley Crane, Genuity, Jana, Morgan Stanley, Akash Sriram, Zaheer Kachwala, Sriraj Kalluvila, Shounak Organizations: TPG, Francisco Partners, Francisco, New, Jana Partners, Eminence Capital, Qatalyst, Thomson Locations: ., Bengaluru

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