Thermo Fisher Announces to Acquire QIAGEN, Plans to Expand Specialty Diagnostics Portfolio

The key aim of Thermo Fisher behind this deal is to expand specialty diagnostics portfolio with molecular diagnostics capabilities.

Thermo Fisher Scientific Inc., a US-based life sciences company, has lately announced the acquisition of QIAGEN N.V., a leading provider of sample and assay technologies for molecular diagnostics. The key aim of Thermo Fisher behind this deal is to expand specialty diagnostics portfolio with molecular diagnostics capabilities. The transaction is worth €39 per share in cash. Thermo Fisher will start a tender offer to get hold of all QIAGEN’s ordinary shares. The transaction values QIAGEN at nearly $11.5 Bn at current exchange rates, including the assumption of almost $1.4 Bn of net debt.

While speaking on the occasion, Chairman, President and Chief Executive Officer of Thermo Fisher Scientific, Marc N. Casper, remarked, “We are happy to combine our complementary offerings to boost the significant activities of our customers ranging from discovery to diagnostics. As far as the shareholders are concerned, we anticipate that the deal would generate substantial cost and revenue synergies.”

Casper further added saying that he is looking forward to welcoming the employees of QIAGEN to the Thermo Fisher family. He also expressed his excitement regarding the novel opportunities to advance precision medicine with the help of new molecular diagnostics and enhanced life sciences workflows.
Acquisition to help Thermo Fisher to Leverage Industry-Leading Capabilities

This acquisition provides Thermo Fisher Scientific with an opportunity to make the most of its industry-leading capabilities and R&D knowledge to speed up the innovation and cater to the growing healthcare needs.

Thierry Bernard, interim CEO and Senior VP, Molecular Diagnostics, at QIAGEN N.V. posited, “This deal with Thermo Fisher will allow us to enter a promising new era and provide our employees with the opportunity to have a larger impact. This will further enable us to speed up the expansion of our solutions to provide the customers across the globe with innovations that improve our knowledge pertaining to the science of life and enhance health outcomes.”

Gilead Sciences to Pay $4.9 Billion to Buy US Clinical-stage Immuno-oncology Company

The acquisition of Forty Seven is in line with Gilead’s strategic focus in oncology and helps with an innovative pipeline and a potential new first-in-class program.

Gilead Sciences, a US-based global biotechnology company that researches, develops and commercializes drugs, has announced the acquisition of Forty Seven, a US clinical-stage immuno-oncology company, for nearly $4.9 billion. The company will acquire all of the Forty Seven common stock’s outstanding shares for $95.50 per share in cash. Subject to regulatory approvals and other customary closing conditions, the transaction is expected to complete in Q2 2020. It will add strength to Gilead’s immuno-oncology research and development portfolio as Forty Seven brings with it magrolimab – an investigational lead product candidate for treating several type of cancer.

“It is an exciting day for patients who may benefit one day from future anti-CD47 therapies and other immuno-oncology treatments based on Forty Seven’s research and an exciting time for us as it enables our company to reach our vision of helping patients to defeat their cancer. Our company is happy to join Gilead and believes we’ll be able to advance our therapies more rapidly with the combination of Forty Seven’s scientific expertise and Gilead’s strength in the development of treatments modifying the immune system,” said Forty Seven, President and CEO, Mark McCamish, MD, PhD.

Acquisition adds significant potential to Gilead’s clinical pipeline

“The agreement adds significant potential to Gilead’s clinical pipeline and builds on our presence in immuno-oncology. Magrolimab complements Gilead’s existing work in hematology, adding a non-cell therapy program complementing Kite’s pipeline of cell therapies for hematological cancers. Magrolimab, with a profile lending itself to combination therapies, could potentially have transformative benefits for a range of tumor types. Our company looks forward to working with the highly experienced Forty Seven team for helping patients with some of the most challenging cancer forms,” said Gilead Sciences, Chairman and CEO, Daniel O’Day.

Magrolimab shows potential as a first-in-class therapy, mentions a recent press release by Gilead. In December 2019, Forty Seven presented at the American Society of Hematology meeting the promising results of magrolimab’s Phase 1b study involving patients with AML and MDS.

Broadridge Gets hold of FundsLibrary, Aims at Helping Global Fund Managers

This strategic move will assist the fund managers to raise the distribution opportunities and fulfil their regulatory requirements.

Broadridge Financial Solutions, Inc., a US-based corporate services company, has lately acquired FundsLibrary, a leading digital platform, specializing in fund document and data dissemination. This strategic move will assist the fund managers to raise the distribution opportunities and fulfil their regulatory requirements. Further, it will boost Broadridge’s pan-European regulatory communications and digital data platform, thereby supporting the lifecycle of fund documents, data, and regulatory reporting for the investment sector.

Both the Firms to Combine their Capabilities

Combining the capabilities of FundsLibrary with Broadridge’s present regulatory communications offerings will allow Broadridge to lower the complexity and cost for global fund managers. While speaking on the occasion, Samir Pandiri, President of Broadridge International, reflected, “Nowadays, global fund managers encounter challenges in creating and distributing compliant marketing and regulatory documents that comply with the domestic and cross-border requirements across the EU and UK.”

Arun Sarwal to lead the New Business

This newly formed company will be known as Broadridge Fund Communication Solutions, and will be headed by Arun Sarwal, CEO of FundsLibrary. The business will be joined with FundAssist, which is Broadridge’s present European funds regulatory communications business.

Arun Sarwal also expressed his views on this deal. He remarked, “I am happy to manage this exciting fund data and regulatory communications business for Broadridge as we increase our footprint in the global markets. This new business will allow Broadridge clients to make use of a single provider for the creation and dissemination of fund marketing and regulatory documents so that they can raise distribution opportunities and meet the regulations.”

Sarwal further added saying that he and his team are eager to join Broadridge as it would enable them to serve their clients across a wider global value chain and to expand their services across various regions.

Freshworks Snaps up AnsweriQ, Welcomes AnsweriQ CEO as Chief Customer Officer

AnsweriQ complements Freddy, AI engine of Freshworks, by helping large enterprises to automate complex customer workflows and scale self-service experiences.

Freshworks, a US-based provider of SaaS customer engagement solutions to organizations of all sizes, has signed the acquisition of AnsweriQ, a US provider of intelligent automation solution for customer service using AI and ML. The acquisition will help Freshworks to target larger businesses with enterprise-scale AI customer service offerings. With the help of AnsweriQ’s technology, Freshworks will be able to augment AI capabilities of its AI engine Freddy. This will help automate complex customer workflows and scale self-service experiences for large enterprises while enabling them to fully leverage their existing customer data.

“The integration of AnsweriQ’s technology offers significant value to Freshworks customers and improves Freshworks’ ML/AI capability in the customer engagement space. Pradeep Rathinam (former CEO of AnsweriQ and Chief Customer Officer of Freshworks) brings executive-level expertise and acumen, which will be leveraged in his new role as chief customer officer as we double-down on our efforts to keep and engage customers for life,” said Founder and CEO of Freshworks, Girish Mathrubootham.

Second acquisition in less than a year for Freshworks

“Freshworks, unlike legacy, siloed, clunky SaaS solutions, is innovating to deliver a seamless and powerful experience across support, customer success, marketing, and sales functions. The acquisition is a natural fit, with the commitment of Freshworks to deploying enterprise-scale AI for better understanding customers and building relationships for life. I am excited to join Freshworks as their new chief customer officer as we produce delightful experiences for enterprises using our products worldwide,” said Rathinam.

AnsweriQ is the second company that Freshworks has acquired in less than 12 months. The acquisition strengthens Freshworks’ footprint in the US. Freshworks operates in 13 offices across the globe and has over 2,700 employees worldwide.

Korian Group gets hold of 5 Santé, Aiming at Specialising its Services

As part of the agreement, Korian Group will also get hands on the 5 Santé’s real estate assets.

Korian Group, a European nursing care facilities company, lately announced the acquisition of 5 Santé, a group of private clinics specializing in the post-acute care methods of rehabilitation for the chronic disease patients. The key objective of Korian Group behind this strategic move is to specialize its services.

Speaking on the occasion, CEO of 5 Santé Group, Catherine Miffre, remarked, “Combination of 5 Santé and Korian group will increase our expertise in the treatment of chronic diseases. It will also boost innovation based on the concept created by our experts to enable its application to all chronic pathologies and speed up its progress towards a pathway approach committed to enhancing the patient’s quality of life.”

Korian Group to Obtain 5 Santé’s Real Estate Assets

As part of the agreement, Korian Group will also get hands on the 5 Santé’s real estate assets. Catherine Miffre, Founder and CEO of 5 Santé, and her management are teaming up with Korian Group to work towards the development of 5 Santé.

Partner at Parquest Capital, Denis Le Chevallier, reflected, “We have in awe for the progress that 5 Santé Group has witnessed since its establishment in May 2015. We believe that this merger with Korian Group will help Catherine Miffre and her group to further speed up this development in the years to come”.

5 Santé to Expand Innovation Capabilities

Nicolas Merigot, Executive Vice President of Healthcare Division in France, also expressed his thoughts. He said he was happy to welcome the medical teams of 5 Santé to the Group, along with its dedicated team of researchers. Their deep knowledge toughens our innovation capabilities for the development of upcoming projects.

Through this acquisition, Korian will get a step closer to specialising its services, so as to offer personalised support, according to the patient’s requirements in the regions, wherein where the Group operates.

 

Dechra Pharmaceuticals witnesses 7.4% rise in Revenue after two Acquisitions

The firm reported a GBP19.5 Mn pretax profit for the six months ended December 31, more than double its GBP9.0 Mn profit the previous year.

Dechra Pharmaceuticals PLC, a UK-based manufacturer of veterinary products, recently announced that the profit was more than doubled in the first half of its financial year after its two acquisitions. However, its Pharmaceutical unit in North America struggled.

Shares in Dechra were down 3.3% at 2,708.00 pence in London in morning trading. The firm reported a GBP19.5 Mn pretax profit for the six months ended December 31, more than double its GBP9.0 Mn profit the previous year.

Revenue was 7.4% greater at GBP248.5 Mn versus GBP231.4 million the previous year as the firm’s Caledonian Ltd and Laboratorios Vencofarma do Brasil Ltd acquisitions, in October and December 2018 individually, added GBP9.3 Mn.

Company’s finance income increased Year on Year

Moreover, the company’s finance income increased YoY to GBP3.3 million from nothing. However, the company’s Pharmaceuticals segment of North America suffered 2.5% net revenue fall at constant currency after supply issues with its Companion Animal Products as well as exceptional sales of its drug Zycortal recorded in the previous year as a competitor was unavailable.

Chief Executive Officer at Dechra Pharmaceuticals, Ian Page, remarked, “Our strategy remains strong and we are presenting more prospects than before. Novel growth opportunities have been secured making a pipeline with high potential future value. Also, the acquisition opportunities are continuously being evaluated and delivered, our global business is expanding, and we keep on witnessing growth from our existing product portfolio.”

Production & Supply Issues Causing Delays to Get Partially Reversed in Last Half

The production and supply issues leading to delays to deliveries are likely to be partially reversed in the second half, excluding our sterile ophthalmic range and two minor products, which are not likely to be reversed in supply till the coming financial year. The firm raised its dividend by 8.3% to 10.29p per share from 9.50p per share the previous year.

Google Cloud takeovers Cornerstone Technology, Targets the Mainframe

The key objective of Google Cloud behind this move is to help the customers migrate their mainframe workloads to Google Cloud.

Google Cloud has recently acquired Cornerstone Technology, a full service software development firm. The key objective of Google Cloud behind this move is to help the customers move their mainframe workloads into the Cloud. The price of the deal is not yet revealed. This strategic action is in line with Google Cloud’s overall enterprise strategy.

For a long time, a lot of businesses have been dependent on a mainframe architecture to operate their mission-critical workloads, however it often restrain developers from making the most of new technologies that allow them to modernize more quickly. Cloud computing creates the prospect to modernize the applications and infrastructure, thus giving rise to better capabilities and allocation of resources so that the firm can lay emphasis on the core business.

Google Cloud on a Buying Spree

The company under CEO Thomas Kurian is on a buying spree, the company is going through an internal reformation of its Cloud group, taking in the elimination of certain roles. The restructuring is mainly to readjust focus on the global markets. Previous week, it completed a acquisition of Looker Data Sciences, worth $2.6 billion after receiving a go ahead from the UK’s competition authorities. Google Cloud generated $8.9 billion in 2019 and in the fourth quarter, the cloud unit reported $2.6 billion.

Cornerstone to bring Innovative Solutions and Huge Experience

Cornerstone brings innovative solutions and a wealth of experience to Cloud’s portfolio of products and services, thus helping the customers modernise their infrastructure and applications, such as conversion flexibility migration roadmap development, and automated data migration, as they move to the cloud.

As the industry gradually develops applications, a number of customers wish to convert their mainframe monolith programmes into either Java microservices or Java monoliths. This type of application modernisation is at the heart of the Cornerstone toolset.

 

BitGo gains control of Harbor, Plans to Expand Services beyond Crypto Custody

The key objective of BitGo behind this strategic move is to expand its services beyond crypto currency and become a full-stack service provider in the digital securities segment.

BitGo, a digital asset trust firm headquartered in California, recently acquired Harbor, an online platform for digitized securities. The key objective of BitGo behind this strategic move is to expand its services beyond crypto currency and become full-stack service provider in the digital securities segment. The terms of the transaction are not yet revealed.

“Our vision has always been beyond custody and wallets,” remarked, Mike Belshe, CEO of BitGo, while speaking on the event. “With the help of this deal, we will be able to expand the vision of creating a novel digital infrastructure for financial services,” added Belshe.

Harbor’s Subsidiaries Included under the Acquisition

Along with Harbor, BitGo gains control of the platform’s subsidiary companies, including a transfer agent regulated by the Securities and Exchange Commission (SEC) and a broker-dealer controlled by the Financial Industry Regulatory Authority (FINRA).

BitGo & Harbor Worked together Before Acquisition

“Prior to the acquisition, BitGo had worked in collaboration with Harbor since the start of the digital securities platform,” stated, Josh Stein, CEO of Harbor. “We have worked closely to combine Business Wallets and Custody of BitGo with Harbor’s services. Once you are working under the same roof, things become possible and you make things more integrated than you could earlier,” added Stein.

Harbor offers a complementary technology stack to BitGo for the lifecycle of digital securities and key service capabilities through its digital assets broker-dealer and transfer agent subsidiaries. As Stein is also joining BitGo, his role is not yet clear.

Acquisition to Allow BitGo Recreate Parts of Financial System

The acquisition enables BitGo to recreate all sections of the traditional financial system. BitGo will add Harbor’s products and services under this deal, however a particular roadmap has not been confirmed yet. As per sources, BitGo, as a whole, processes greater than 20% of the Bitcoin movements across the globe. BitGo is taking constant efforts to develop its wallet offerings as the company announced custodial support for EOS and Tron in 2019, second half.

Capgemini Signs Agreement to acquire Advectas, Aims to Expand Data Analytics Capabilities

With the help of this acquisition, Capgemini will expand its data and analytics capabilities in Scandinavia.

Capgemini, a global leader in consulting, technology, and outsourcing services, has recently announced the acquisition of Advectas, a leading provider of business intelligence and data science in Scandinavia. With the help of this acquisition, Capgemini will expand its data and analytics capabilities in Scandinavia.

Advectas to Help Meet Growing Client Demand

By linking up with Capgemini’s Insights & Data global business line, the talented team of Advectas will help to cater to the growing customer demand for Capgemini’s business intelligence and data analytics services throughout the region.

While speaking on the occasion, Zhiwei Jiang, CEO, Insights & Data Global Business Line, Capgemini, remarked, “I am happy to welcome Advectas to our family. Advectas has gained expertise in the analytics domain with the help of the excellent quality of its people and great talent of its customer base.”

Jiang further added saying that both the companies have culture and clients in common. This would eventually help Capgemini to expand its presence throughout Sweden and Denmark, set a strong track record in assisting clients to monetize data, and form strong relationships in the Scandinavian business intelligence space.

Cultural Fit between Capgemini and Advectas- A key Consideration in the Deal

On this event, Stefan Olsson, CEO and President of Advectas also expressed his thoughts. He said, “The cultural fit between Capgemini and Advectas made us take this move. We saw various fundamental values that reflect our own, including freedom, trust, team spirit, and a deeply collaborative mindset.”

“We have arrived at a stage where our bigger clients wish to develop our solutions for their global markets. Being a member of the Capgemini family, we can offer them the scope, together with varied other integrated cloud-based as well as digital capabilities to help them attain their long term business goals,” added Olsson. The transaction is dependent on the customary conditions, like competition clearance, and is expected to close in the approaching weeks.

Xcite Automotive Snaps up Car Studio Pros to Expand Auto Merchandising Offerings

Acquisition to help Xcite Automotive extend its dealership merchandising services including high-quality videos, 360 spins, and digital automotive photography.

Xcite Automotive, a US automotive merchandising and digital marketing solutions provider, has announced the acquisition of Car Studio Pros, a US provider of professional automated photography systems for cars. The acquisition will help Xcite Automotive to serve its customers in new ways while expanding its products and services. Currently, the company’s dealership merchandising services include high-quality videos, 360 spins, and digital automotive photography. The company is a provider of technology-driven merchandising solutions to automotive dealers. The acquisition will benefit the company as today’s car buyers look for an online-focused and a more transparent buying experience.

“When it comes to inventory managed and merchandising solutions in the auto industry, Xcite Automotive is best in class. From expanded web integrations to new staffing and financing options, Car Studio Pros customers are thrilled by what the partnership represents for their businesses,” said Executive Director of Car Studio Pros, Austin Timyan.

Acquisition helps Xcite Automotive with platform to offer clients a competitive edge

“We bring solutions right to the doorsteps of our clients to help reinvent their customer journeys through the power of high-quality videos, 360 spins, and images. Buyers can experience the feel and full design of a vehicle without having to ever set foot in a showroom. It represents the future and is a cost-effective marketing strategy,” said Skip Dowd, Chief Sales Officer at Xcite Automotive.

“The acquisition gives our company the platform needed for offering our clients a competitive edge in this environment that’s rapidly changing. Xcite Automotive’s strategy is to improve the car buying journey for our clients through by investing in new teams, services, and technologies as we expand our footprint across North America,” said Phil Penton, CEO of Xcite Automotive.

The combination of Xcite Automotive’s pre-existing solutions and Car Studio Pros capabilities will help Xcite Automotive with the capacity required to execute omnichannel and fully experiential marketing for its clients.