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Leidos To Take Over Dynetics In A Deal Worth $1.65 Billion

Recently, defense contractor Leidos stated that it is obtaining Dynetics for $1.65 Billion since it looks for growth opportunities in hypersonics, autonomy, space solutions, and highly-developed sensors. Dynetics would become an entirely-owned unit of Virginia-based Leidos and will accelerate the company’s expansion in Alabama, where Dynetics is located. In the latest call with financiers, Leidos officials stated that Dynetics must add almost $1 Billion in yearly revenue in 2020 without irritating Leidos’ low rate of assets expenditures. Roger Krone, Leidos Chief Executive, and Chairman, asserted, “With Dynetics we are adding novel capabilities in higher-growth domains, generating opportunities to expand in attractive and complementary segments, counting hypersonics, space, and weapons solutions.”

Leidos anticipates the acquisition to close in the first quarter of the next year. Hypersonics and space solutions include around 25% of Dynetics’ proceeds. Kristina Hendrix, Dynetics Spokeswoman, stated that Dynetics—as a private firm—does not reveal its yearly revenue. Dynetics is developing the USA (Universal Stage Adapter) for NASA’s SLS (Space Launch System) and present structural requirement testing for ULA’s (United Launch Alliance) Vulcan rocket. Apparently, Dynetics is also providing the propulsion system to Astrobotics’ Peregrine lunar lander and is helping Maxar Technologies in developing the PPE (Power and Propulsion Element) for NASA’s Lunar Gateway space station.

On a similar note, lately, Leidos was in news for receiving FAA’s (Federal Aviation Administration) FFSP (Future Flight Services Program) agreement. Leidos was awarded a follow-on prime deal by the FAA to carry on serving the general aviation society under the FFSP agreement. Under this contract, Leidos would be helping the FAA to achieve its dream to makeover and modernize the delivery of flight briefing services by decreasing program expenditures, offering technology developments, and by joining hands with the broader aviation community.

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A Multimedia Business Girlboss Is Acquired By Attention Capital

The female-focused multimedia business, Girlboss, is being acquired by a new company, Attention Capital, which purchases, develops, and clambers up media brands. Girlboss was established by Sophia Amoruso and will be joining the Attention Capital as a founder partner. The deal terms are yet not disclosed but the company has stated that 100% of business is being acquired by Attention Capital. In 2017, $3.1 Million was raised by Girlboss from Lightspeed Venture Partners in venture capital funding

This latest release signifies the second exit by Amoruso, although her Nasty Gal transaction was more of a salvation feat. Nasty Gal saw a developing phase from a small eBay shop to a fashion giant with a pint when it witnessed over $300 Million in sales. Eventually, the firm also witnessed a decline and in 2016, a Chapter 11 bankruptcy protection was filed after obtaining $65 Million during its functioning of 10 Years.

Nasty Gal was procured for $20 Million in 2017. Amoruso, in the interim, was directing a new and analogous venture-supported business, which took life from #GIRLBOSS, her book’s success, which the firm stated has sold over 500,000 copies since its release in 2014. In a statement, Amoruso stated, “Girlboss is developed on the notion of powering expansion through the community.”

Managing Partner and Co-founder of Attention Capital, Ashlyn Gentry, said, “Girlboss is a globally recognized brand that is reclassifying what it signifies to be entrepreneurial—it is not merely establishing your own business, it is about taking risks, making a career switch, seeking for that next role, and taking measures into the unfamiliar.”

Likewise, a majority share in Smartly.io Solutions Oy, a social video advertising technology provider, will be bought by Providence Equity Partners LLC as the private-equity company bets that more marketing dollars will be spent by the brands on Facebook in addition to other social platforms. €200 million will be invested by Providence in Smartly.io located in Helsinki, valuing the firm at €300 Million, as per the resources.

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Asia Stocks Jumped On News Of Trade Deal Amid The US-China

Recently, the shares in Asia-Pacific climbed on news that U.S. and China have agreed for a phase one trade agreement in principle, pending President Donald Trump’s sanction. Japanese stocks climbed during morning trade. The Nikkei 225 index advanced by 2.35% since shares of Fast Retailing soared over 3.5%. The Topix index jumped 1.52%. In the meantime, the BoJ’s (Bank of Japan) “tankan” survey released showed that the business confidence amongst the country’s manufacturers dived to its lowest stage in over 6 Years. Hang Seng index in Hong Kong also jumped 2.06% since shares of HSBC and Tencent soared over 2% each.

Chinese stocks rose, with the Shanghai Composite and the Shenzhen Component both climbing by 1% each. The Shenzhen Composite also recovered 1.02%. The Kospi index in South Korea also reported strong gains as it was trading 1.32% higher, with shares of chip manufacturer SK Hynix skyrocketing by over 5%. The shares in Australia also recovered, as the S&P/ASX 200 index gained 0.53%, with shares of BHP jumping over 2%. In general, the MSCI Asia index—excluding Japan—surged 1.49% higher. These moves came in the midst of US-China trade optimism.

On a similar note, recently Trump signed a phase one trade deal, avoiding major December 15 tariffs deadline. This step came after negotiators from both the countries agreed-upon terms, as reported by Bloomberg. China and the U.S. agreed-upon conditions for the so-called phase one deal, with Trump approving the deal, causing Wall Street financiers to rejoice. Following months of ongoing conciliations to work out the terms of the phase one deal—that was first declared in October—the news drove the stock market higher to new records: The Dow Jones Average and S&P 500 were both up by almost 0.80%. As reported by Bloomberg, the deal includes assurance by China to purchase more U.S. farm goods.

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SoftBank-Supported OneConnect Financial Technology Reduces IPO By 28%

Of late, Ping An Insurance’s OneConnect Financial Technology reduced its planned US IPO (initial public offering) by 28% and decreased its target valuation, dealing another blow to its financier SoftBank, which is still recovering from the repercussions of WeWork’s failed listing. Reportedly, OneConnect fixed a price range of $9–$10 a share for its IPO of 26 million shares, which is down from the $12–$14 a share range it had planned previously. The firm also downsized the offering to 26 Million ADS (American depositary shares) from 36 Million ADS. OneConnect, which is a part of China’s largest insurer by market value, enumerates Japan’s SoftBank and financial company SBI Group as some of its major investors.

The higher end of the price range costs OneConnect at around $3.64 Billion. That is below its $7.5 Billion valuations of the last year when it collected $750 Million in its first funding round from shareholders counting SoftBank and SBI Group. The float came since tech financier SoftBank smarts from the ditched share sale of WeWork, in addition to its first quarterly loss in the last 14 Years affected by an $8.9 Billion hit at its huge Vision Fund through which it spent in OneConnect. Many other latent stock market listings have been delayed since the disintegration of WeWork’s scheduled launch in September and investment bankers are worried that the trend might continue in the next year.

On a similar note, recently SoftBank was in the news as its Vision Fund 2 has held discussions to put in $150 Million in Honor, a home healthcare start-up. According to sources, while the Honor speculation has not been sanctioned by the Vision Fund’s venture committee yet, it marks one of the potential bets for the big new fund. There are a number of Vision Fund 2 investments in the works, counting some that have been authorized by the investment committee, stated two sources.