FreeWire bags funds worth $50Mn to expand EV charging solutions

FreeWire bags funds worth $50Mn to expand EV charging solutions
California-based electric vehicle charging and power solutions- FreeWire Technologies has reportedly raised USD 50 million in Series C funding round led by Riverstone Holdings and saw the participation from existing shareholders bp ventures, TRIREC, Alumni Ventures Group, and Energy Innovation Capital. For the record, the latest investment by Riverstone- a leading energy private equity company, marks the first private equity investment made in FreeWire and also showcases the significance of battery-integrated charging technology to meet the rapidly increasing demand for electric vehicle charging stations, globally. Notably, with the new investment, the company aims at expanding the market for its flagship offering-

Office Depot rebuffs third takeover attempt by rival firm Staples

Office Depot rebuffs third takeover attempt by rival firm Staples
  • ODP Corp. chairman turns down unsolicited $2.1 billion takeover bid from Staples
  • The company has expressed its interest in an alternative deal, however, such as a joint venture or retail operations merger
  • This marks the third attempt made by Staples to acquire Office Depot
U.S.-based office supply retailer Office Depot has recently rejected another takeover offer from its industry rival Staples. In a letter exchanged between the company’s executives, the chairman of the board of the ODP Corporation, the parent company of Office Depot, allegedly rejected Staples’ $2.1 billion offer to acquire the business. However, the company expressed its interest in forging an alternative d

Coachella likely to be delayed again as COVID-19 continues to grip USA

Coachella likely to be delayed again as COVID-19 continues to grip USA
Coachella music festival organizers have reportedly held discussions to contemplate delaying the annual three-day event yet again. According to sources familiar with the matter, the discussions mainly focused on possibly shifting the event date from the already planned April date to October, in fall. Goldenvoice, the LA-based concert promoter, has already moved the event date for Coachella 2020 twice, moving it to October 2020 from April 2020 first and then again from October 2020 to April 2021. The organizers have also attempted to make sure to keep the artist lineup intact, specifically because it implies that the event has been ‘postponed’ and not entirely ‘canceled’. This essentially saves the company fro

Metal molds demand for plastic injection molding garners momentum

Metal molds demand for plastic injection molding garners momentum
With robust developments in manufacturing technologies, the global metal molds industry for plastic injection molding continues to gain prominence. Currently, numerous technologies exist for manufacturing plastic parts. However, plastic injection molding, which involves injection of liquid plastics into metal molds typically made of aluminum or steel, is fast emerging as the preferred method. Over the years, the automotive sector has been one of the major adopters of injection molded plastic components. This global shift in the auto industry has been brought about by tightening environmental regulations and the need for more lightweight and fuel-efficient vehicle designs. Plastic injection molding is being widely used for manufacturin

Wells Fargo in talks with buyout firms for asset management business.

Wells Fargo in talks with buyout firms for asset management business.
Wells Fargo & Co is reportedly about to sell its asset management business, that manages funds of over $607 billion to a general private equity consortium led by Reverence Capital Partners LP and GTCR LLC . This would be the biggest shake-up for the firm to date since Charles Scharf, former Chief Executive of the Bank of New York Mellon, joined as CEO in 2019. The exact deal price being negotiated has not been disclosed, but previous data says that the company was expecting a deal of more than $3 billion for the business. There are chances that even after long talks the acquisition may end without a deal, sources have revealed, requesting anonymity as the matter is highly confidential. On this matter, Wells Fargo has declined t

Cognizant acquires Servian to expand operations in Australia & New Zealand

Cognizant acquires Servian to expand operations in Australia & New Zealand
American IT giant- Cognizant has reportedly inked an agreement to acquire a Sydney-based enterprise transformation consultancy- Servian, which lays its expertise in AI, data analytics, experience design, digital services, and cloud services. Notably, through the transaction, Cognizant aims at extending its end-to-end digital transformation expertise to New Zealand and Australia to help customers make a shift to the cloud, develop digital products and services, modernize enterprise applications, unlock value from data, along with achieving operational excellence. According to Jane Livesey, CEO, Cognizant Australia and New Zealand, Cognizant’s vast digital expertise coupled with Servian’s strength as a leading technology p

SLD Laser announces production launch of LaserLightâ„¢ products

SLD Laser announces production launch of LaserLightâ„¢ products
SLD Laser, a global leader in the commercialization of visible laser sources, has reportedly announced the production launch of its LaserLight™ sources. These products will gain widespread adoption in specialty lighting and automotive applications. At the Consumer Electronics Show in Nevada, the company is planning to demonstrate the real-world applications for this high brightness light source technology, as well as its intelligent illumination vision. LaserLight™ products are expected to help transform and modernize the automotive & lighting industry owing to their myriad usage advantages such as the delivery of above 10 times more brightness than the LEDs, highly directional output, long

Water and wastewater treatment applications to foster regenerative turbine pump deployment

Water and wastewater treatment applications to foster regenerative turbine pump deployment
The global regenerative turbine pump market size has been growing steadily over the years, primarily driven by extensive application across numerous key end-use sectors. Ongoing investments in the development of new wastewater treatment infrastructure in both developed and emerging countries will drive future developments in the sector. Regenerative turbine pumps, also known as peripheral turbines, are preferred in applications where compact design and high pressure are desired. These pumps, on account of their low pulsation, can easily handle air or vapor within the fluid being pumped. Peripheral turbines are suitable for a wide range of applications as they can move high-temperature fluids at high pressures. They are commonly used i

Roblox secures USD 520 million in the private funding round

Roblox secures USD 520 million in the private funding round
As per the latest news, Roblox Corporation, one of the leading online gaming companies for kids, has reportedly announced that it has raised $520 million in a private funding round. The company has also announced plans to go public by direct listing in the market. Last year, Roblox applied to go public, but seeing shares of DoorDash and Airbnb soaring in the market caused the company to delay going public. Unlike Palantir, Slack, and Spotify, which all had direct listings, It will allow current shareholders and employees to sell shares to new investors on listing day. This is one of the different ways companies are  trying to reach the public market as another option to the traditional initial public offering (IPO), which has been