Google to buy Manhattan base for $2.1bn
Google is to buy St. John’s Terminal in Manhattan for $2.1bn, which will serve as the anchor of its new Hudson Square campus. St. John’s Terminal is a former freight facility that is being reimagined into a sustainable, adaptable and connected building. The building will also offset 100% of its carbon in support of Google’s ambitious carbon goals. The transaction will close in the Q1 of 2022.
JPMorgan to launch UK challenger bank
JPMorgan Chase has launched a digital challenger bank in the UK under its Chase brand. It is the start of an international expansion from and represents a challenge to the UK's established bankings, as well as it digital entrants such as Monzo and Revolut. Chase will introduce a fee-free current account that combines money management features with cashback rewards on debit card spending.
F5 Networks buys cloud security startup Threat Stack in $68m deal
Applications networking company F5 Networks has announced the acquisition of cloud security and compliance startupThreat Stack for $68m. The deal comes months after F5 bought multi-cloud management startup Volterra for $500m. F5 said that integrating its protection solutions with Threat Stack’s cloud security capabilities will “enhance visibility across application infrastructure and workloads.”
Fivetran buys DVR and raises $565m, valued at $5.6bn
Fivetran has announced a significant acquisition and closed a super-sized funding round. The data integration company has agreed a $700m deal to buy HVR, a provider of enterprise data replication technology, which it says will allow it to "provide breakthrough database replication performance". In addition, it has also closed a $565m Series D round, which takes its value to $5.6bn.
Google Cloud and Wipro launch innovation hub in India
Wipro has announced the launch of the Wipro-Google Cloud Innovation Arena in Bangalore, India. The cloud collaboration space will provide in-house technical expertise, ensure cloud adoption, and accelerate innovation to drive business transformation for customers. The facility will showcase the talent, tools and best practices required to develop and deploy applications on Google Cloud.
Semiconductor market could face oversupply by 2023 - IDC
The semiconductor market could face oversupply in 2023, according to IDC. It expects the market to grow by 17.3% in 2021 versus 10.8% in 2020, see normalisation by mid-2022, with a potential for overcapacity in 2023 as larger scale capacity expansions come online. Growth is to driven by mobile phones, notebooks, servers, automotive, smart home, gaming, wearables, and Wi-Fi access points.
Alphabet's Project Taara successfully beams high-speed internet
Project Taara, one of Alphabet X's moonshot projects, has been able to successfully provide high-speed internet via beams of light across the Congo River. This has solved the connectivity gap that existed between the cities of Brazzaville and Kinshasa and provided its citizens with faster and cheaper broadband. The wireless optical communications system provided 700 terabytes of data in 20 days.
Oracle unveils new AI-powered marketing platform
Oracle has launched a platform for marketers that uses AI to generate sales leads. Oracle says Fusion Marketing uses AI to automatically score leads at the account level, predict when consumers are ready to talk to a salesperson, and generate a qualified sales opportunity in any CRM system. It can also build and run campaigns in "a matter of minutes" according to Oracle.
Software development company GitLab files to go public
San Francisco-based software development platform GitLab has revealed its plans to go public with an initial offering of stock. The company's software allows developers to share code and collaborate on projects, competing with Microsoft’s GitHub. GitLab was valued at $6bn in January 2021, after raising a total of $400m from investors, but it has not revealed how much it plans to raise in its IPO.
Issue 32
We lead this month with Ericsson and how one of the world leaders in telecommunications is spearheading the generational leap that is 5G. We also hear how Mars has used agile working methods and partnerships to enable digital transformation.
Sponsored by
Two-thirds of cloud breaches down to misconfigured APIs - IBM report
A report from IBM has revealed that misconfigured APIs were behind as much as two-thirds of all cloud breaches over the 12-month period up to June. The data came from dark web analysis and various IBM metrics and research. Threat actors are appearing more and more in cloud-based environments. Vulnerabilities in cloud-based applications were also found to have increased.
British fibre broadband company CityFibre secures $1.55bn
British telco CityFibre has raised $1.55 billion to support the rollout of its fibre network across the UK and challenge BT. The company has obtained £825m from Abu Dhabi sovereign wealth fund Mubadala and investment fund Interogo. CityFibre said it will use the funds to reach its target of providing fibre to eight million homes across 285 cities, towns and villages across the UK.
OpenSea admits to NFT insider trading
OpenSea, the largest NFT marketplace, says insider trading rumours are true. An unidentified OpenSea employee “purchased items that they knew were set to display on our front page before they appeared there publicly,” CEO Devin Finzer said in a statement. OpenSea, which is valued at $1.5bn, said that it has introduced a new policies to prevent this incident from repeating itself.

JPMorgan set to launch digital bank 'Chase' in the UK
JPMorgan is to launch its "Chase" digital bank in the UK next week. An app offering current accounts only will be made available from Tuesday, a spokesperson revealed. They outlined JPMorgan's commitment to the FT, saying that it will spend "hundreds of millions" before being able to break even. This is JPMorgan's first overseas retail bank. Goldman Sachs launched a similar offering in 2018.
Data-driven tech talent recruiting platform CodeSignal raises $50m
Software developer assessment platform CodeSignal has closed on a $50m funding round led by Index Ventures with participation from Menlo Ventures, Headline and A Capital. CodeSignal is a self-driving interview platform that measures programming skills regardless of a person’s background. The tech industry's growing need for engineers has allowed it to grow 3.5 times in revenue year over year.
Data integration platform Matillion achieves unicorn status
UK-based cloud integration platform Matillion has achieved unicorn status after a $150m funding round took its value to $1.5bn. The round was led by General Atlantic, a global growth equity firm, with participation from Battery Ventures, Sapphire Ventures, Scale Venture Partners, and Lightspeed Venture Partners. It follows an earlier funding round in 2021, bringing total to-date to $310m.