Huawei Said to Cease Solar Inverter Sales in US Market


This post is by info@greentechmedia.com from Greentech Media: Headlines


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China's Huawei Technologies, the world’s biggest solar inverter manufacturer, ended its U.S. inverter sales last week, according to an equity research note from Roth Capital Partners published Monday.


The investment banking firm told Greentech Media that it has learned Huawei is moving to lay off or transfer some of its U.S. workforce, while maintaining some technical support and warranty staff.


Roth senior analyst Philip Shen said the sales shutdown had been confirmed by three sources, including two Huawei customers.


GTM contacted Huawei by phone and email, but did not receive a response and was unable to independently verify the report. As of Monday afternoon, the company was still answering pre-sale consultation phone inquiries for the U.S. market. The story will be updated if more information becomes available.


U.S. authorities have toyed with an outright ban on Huawei&rsquo;s inverters for months, amid allegations of intellectual property theft <div class="post-limited-image"><img src="http://feeds.feedburner.com/~ff/GreentechMedia?d=yIl2AUoC8zA" border="0"></div>

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Lumia Capital seeks second fund


This post is by Marina Temkin from Pe Hub Blog: Firms & Funds


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Lumia Capital, a San Francisco, California-based expansion-stage venture firm, is raising a second fund, according to a filing with the SEC. First sale was not reported and fund target was not set.

The firm invests in internet and software companies with a focus on SaaS, mobile, cloud computing, infrastructure, and big data. It typically writes checks between $3 million and $30 million, backing companies with greater than $10 million in annual revenue.

AI, Drones, Empathy, Alienation, and the Gig Economy


This post is by Lambert Strether from naked capitalism


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By Lambert Strether of Corrente. The Verge has an important post on content moderation in the corporate hellhole that is Facebook which has implications both for the future of work (or, as we call it, “labor”) and for services that we, as consumers (reproducing our labor power) file mentally as algorithmic or robotic, but are […]

Alleghany Capital acquires CID Performance Tooling


This post is by Iris Dorbian from PE Hub Blog: Buyout Deals


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Alleghany Capital has acquired a majority stake in Saco, Maine-based CID Performance Tooling, a maker of high-performance solid carbide end mills. No financial terms were disclosed. Also, Alleghany Capital has formed Precision Cutting Technologies, a new holding company for its subsidiaries in the machine tool and consumable cutting tool sectors.

PRESS RELEASE

NEW YORK, June 24, 2019 /PRNewswire/ — Alleghany Capital Corporation (“Alleghany Capital”), a wholly-owned subsidiary of Alleghany Corporation, today announced the formation of Precision Cutting Technologies, Inc. (“Precision Cutting Technologies”) and the acquisition by Precision Cutting Technologies of a majority interest in Coastal Industrial Distributors, LLC, dba CID Performance Tooling (“CID”). Headquartered in Saco, Maine, CID is a leading manufacturer of high-performance solid carbide end mills. Precision Cutting Technologies is Alleghany Capital’s new holding company for its subsidiaries in the machine tool and consumable cutting tool sectors, which include Bourn & Koch, Inc. (“Bourn & Koch”),

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Evergreen funds WorkForce Software


This post is by Iris Dorbian from PE Hub Blog: Buyout Deals


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Evergreen Coast Capital Corp, the tech-focused private equity arm of Elliott Management Corporation, has made a “significant” investment in WorkForce Software, a provider of cloud-based workforce management solutions. No financial terms were disclosed. As a result of the transaction, Evergreen will become equal partners with WorkForce Software’s majority investor Insight Partners.

PRESS RELEASE

LIVONIA, Mich., June 24, 2019 (GLOBE NEWSWIRE) — WorkForce Software®, a leading global provider of cloud-based workforce management solutions, announced today a significant equity investment from affiliates of Evergreen Coast Capital Corp. (“Evergreen”), the technology-focused private equity arm of Elliott Management Corporation. With the investment, Evergreen will become equal partners with Insight Partners, which has been the majority investor in WorkForce Software since 2014. Terms of the transaction were not disclosed.

Founded in 1999, WorkForce Software is making work easy for the connected workforce around the globe. The company’s cloud-based solutions enable enterprise

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EveryAction buys Blue State Digital’s BSD tools unit


This post is by Iris Dorbian from PE Hub Blog: PE-Backed Mergers and Acquisitions


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EveryAction, which is backed by Insight Partners, has acquired Blue State Digital‘s BSD tools division. No financial terms were disclosed. Blue State Digital is a digital agency that focuses on causes and brands.

PRESS RELEASE

Washington, D.C., June 24, 2019 – EveryAction, a leading provider of software serving over 15,000 nonprofits, announced today that it has closed its third acquisition in the last six weeks, acquiring the BSD Tools division from Blue State Digital. The acquisition follows EveryAction’s strategy of bringing together the best people and giving them the resources to create the best SaaS products, that provide the most value to nonprofits. EveryAction acquired ActionKit on May 8, and acquired Donor Trends on June 6th.

Clients on the EveryAction and BSD Tools products will benefit in many ways, including by expanding the network effect of each company’s one-click contributions, with an active pool of

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Icon Ventures leads Series C round for Button


This post is by Iris Dorbian from PE Hub Blog: Venture Capital Deals


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Button, a mobile commerce platform, has raised $30 million in Series C funding. Icon Ventures led the round with participation from Capital One Ventures, Redpoint Ventures, Norwest Venture Partners and DCM Ventures. In addition to the funding, Jeb Miller, a general partner of Icon Ventures, will be joining Button’s board of directors.

Source: Press Release

Palladin acquires 13 Pure Barre studios


This post is by Iris Dorbian from PE Hub Blog: Buyout Deals


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Palladin Consumer Retail Partners has acquired 13 Pure Barre studios. No financial terms were disclosed. Backed by Xponential Fitness, Pure Barre is a fitness franchise.

PRESS RELEASE

BOSTON and NEW YORK, June 24, 2019 /PRNewswire/ — Palladin Consumer Retail Partners, LLC (“Palladin” or “PCRP”) (pcrp.com) announces the acquisition of 13 Pure Barre studios and a management agreement for one studio under PB Metro, LLC (“PB Metro” or the “Company”) in partnership with the franchisees of the Pure Barre studios (purebarre.com) and Pure Barre Franchising, LLC which is owned by Xponential Fitness, LLC (“Xponential”) the franchisor.

PB Metro has been formed to offer Pure Barre clientele in the New York metropolitan market the ability to utilize multiple locations in the region, to grow the footprint and presence of the brand, to provide associates with additional career opportunities and to continue sharing the Pure Barre workout and sense of community.

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Lightspeed Venture Partners raises $2.11 bln of new capital


This post is by Mark Boslet from Pe Hub Blog: Firms & Funds


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Lightspeed Venture Partners has raised $2.11 billion of new capital, according to a filling with the SEC.

The capital includes $752 million for Lightspeed Venture Partners XII and $1,362 million for Lightspeed Venture Partners Select III, the filing shows. The funds attracted commitments from 148 limited partners.

The filing is available here.

 

 

 

Chrysalix backs battery analytics platform Feasible


This post is by Iris Dorbian from PE Hub Blog: Venture Capital Deals


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Chrysalix Venture Capital has made an investment in Emeryville, California-based Feasible Inc, a battery analytics platform company. No financial terms were disclosed.

PRESS RELEASE

VANCOUVER, British Columbia, June 24, 2019 – Chrysalix Venture Capital, a global venture capital fund with a long history commercializing step-change innovation for resource intensive industries, announces an investment in Feasible Inc., a battery analytics platform company located in Emeryville, California.

“Feasible has developed EchoStatTM, a low-cost, battery intelligence platform that provides real-time analytics and actionable insights to solve some of the biggest challenges in battery design, manufacturing and product management,” said Alfred Lam, Vice President of Investments at Chrysalix Venture Capital. “By leveraging intelligent systems technologies, Feasible now makes the previously invisible, visible. This has significant benefits for battery and auto manufacturers in improving the overall quality while reducing costs. The company is led by a strong technical and management team and we

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