acquisition

Red Hat acquires AI optimization startup Neural Magic

Fundraising /

Red Hat, the IBM-owned open source software firm, is acquiring Neural Magic, a startup that optimizes AI algorithms to run on commodity processors. The transaction is subject to applicable regulatory reviews and other customary closing conditions. The terms weren’t disclosed. MIT research scientist Alex Matveev and professor Nir Shavit founded Somerville, Massachusetts-based Neural Magic in […]

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ElevenLabs has hired the team behind Omnivore, a reader app

Apps /

Generative AI company ElevenLabs has hired the team behind Omnivore, an open source read-it-later app. In a blog post, Omnivore co-founders Jackson Harper and Hongbu Wu said that joining ElevenLabs would give them “an even larger platform to create accessible and engaging experiences for serious readers.” “ElevenLabs is committed to the developer community and the

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Subscription management firm Zuora agrees to be acquired for $1.7B

Commerce /

Zuora, a company selling software to help businesses manage their subscription-based services, has agreed to be acquired by private equity firms GIC and Silver Lake for $1.7 billion. The all-cash deal is expected to close in Q1 2025, subject to approvals and customary closing conditions. It’ll take Zuora, which is currently publicly traded, private; Tien

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Amplitude buys Command AI to bolster its app engagement offerings

Apps /

Amplitude, a publicly-traded company that makes digital analytics software, has acquired Command AI, an app user engagement startup formerly known as CommandBar. Most of Command AI’s 30-person, San Francisco-based team will be joining Amplitude. Command AI’s co-founder and CEO James Evans wouldn’t reveal the terms of the deal, but said candidly that an acquisition wasn’t

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HubSpot acquires Cacheflow, a platform that helps close software sales

Fundraising /

HubSpot has acquired Cacheflow, a startup building tools for the software sales closing process, for an undisclosed amount. HubSpot CEO Yamini Rangan says that Cacheflow — which will become a wholly-owned subsidiary of HubSpot once the deal closes — will expand HubSpot’s Commerce Hub suite of subscription billing management and configure, price, and quote tools

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Salesforce snatches up Zoomin, a tool for organizing company knowledge

AI /

Salesforce is on a buying spree. After snatching up data management firm Own earlier in the month, Salesforce today announced its plans to buy Zoomin, an enterprise knowledge platform. Zoomin — which we’ve covered a handful of times before — unifies a company’s docs, like product user guides and tutorials, in one portal. The terms

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Vista Equity Partners and Blackstone offer to buy Smartsheet for $8.4B in cash

Enterprise /

Vista Equity Partners and Blackstone have agreed to acquire Smartsheet, the software-as-a-service (SaaS) workplace collaboration platform, for $8.4 billion in cash. The private equity firms say that the deal values publicly traded Smartsheet’s shares at a 41% premium over its 90-day average closing share price. Should regulators and shareholders approve it, shareholders would receive approximately

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Workday acquires AI-powered document platform Evisort

Fundraising /

Workday today announced it’s acquiring Evisort, an AI-powered contract management platform, for an undisclosed amount. In a statement, Terrance Wampler, group general manager at Workday, said that Evisort’s tech will enable Workday to add a range of AI-powered document processing tools to its existing finance and HR software. “Evisort will help us deliver on our

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