Turbotodd

Ruminations on tech, the digital media, and some golf thrown in for good measure.

A Deal’s a Deal

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Happy Monday…err, Tuesday. 

If you’re here in the U.S., here’s hoping you had a nice, long holiday weekend, and that you took a few moments to remember the memory of the service men and women who gave the ultimate sacrifice. They really are our nation’s heroes.

Now, even though it’s a Tuesday and not a Monday, there are some tech deals already looming and/or happening this week.

Reuters is reporting that Alibaba’s fintech affiliate Ant Financial has raised $10 billion, valuing the company at $140 billion.

In this round, Reuters reports that a number of global sovereign wealth funds and private equity firms joined the fundraising as main investors, including funding from Carlyle Group LP and VC firm Sequoia Capital.

Ant is controlled by Alibaba Group Holding Ltd founder Jack Ma. As Reuters reports, it was spun off from Alibaba when the group went public, and has diversified over the years into credit services, asset management, and online banking, as well as owning the Alipay payment platform.

In a deal closer to home, private equity firm KKR has said it will acquire BMC Software from an investment group that includes Bain Capital, Golden Gate Capital, and others.

According to a report from ZDNet, BMC has pivoted from mainframe software to being more of an IT service management play and cloud management and application optimization provider.

BMC Software had gone private in 2013 in a deal worth $6.9 billion.

And not to be outdone, the city of London has introduced a contactless payment scheme for buskers that will allow passers-by to use card readers to show their support for the city’s street performers. 

The BBC report indicates that the organization Busk in London is working with iZettle on the scheme and would be made available to buskers in all the capital’s boroughs over the coming months.

Written by turbotodd

May 29, 2018 at 9:29 am

Posted in 2018, payment systems

Tagged with , ,

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