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Report: Private equity firm eyes Tech Data for potential $5 billion acquisition

Technology News - Tue, 10/15/2019 - 20:08
Private equity firm Apollo Global Management LLC is potentially interested in buying Tampa Bay's largest public company, according to a Tuesday report from Reuters. New York-based Apollo has approached Clearwater-based Tech Data Corp. (NASDAQ: TECD) with an offer to acquire the company for close to $5 billion. Reuters sources people familiar with the matter. A spokesman for Tech Data said the company does not provide comment on market rumors or speculation. Apollo is offering to pay $130 per…

Hawaiian Electric partners with Jupiter Intelligence to analyze climate change risks

Technology News - Tue, 10/15/2019 - 19:53
Hawaiian Electric Companies entered an agreement with Jupiter Intelligence, a provider of predictive data and analytics for climate risk, on Monday to generate ongoing climate risk analytics services for generation, transmission and distribution infrastructure across Hawaiian Electric Companies' coverage area. "With increased attention on infrastructure resilience related to the impacts of climate change, the Hawaiian Electric Companies sought more sophisticated data and forecasting tools for its…

Swissair cancels flights, grounds Airbus A220s after plane has third emergency landing

Technology News - Tue, 10/15/2019 - 19:28
Delta, the world's second largest A220 operator, says it's already inspecting its jets' engines after an FAA directive last month. Swiss canceled flights and grounded its 29 A220s after a third incident.

Intel agrees to $5M settlement with federal labor department

Technology News - Tue, 10/15/2019 - 18:56
Chipmaker Intel reached a $5 million settlement with the U.S. Department of Labor over allegations of “systemic pay discrimination” against women, African-American and Hispanic employees. The company will pay $3.5 million in back pay and interest to affected employees, according to a release from the department. Intel must also allocate at least $1.5 million in pay equity adjustments for the next five years for U.S. engineers as part of its annual pay equity analysis. The employees in question…

Oregon Entrepreneurs Network names new executive director

Technology News - Tue, 10/15/2019 - 17:37
After a five-month search Oregon Entrepreneurs Network has named a new executive director. The group has tapped Amanda Oborne, currently the vice president of the food and farms program for environmental nonprofit Ecotrust. Oborne will start her new role in November. She replaces interim executive director Jim Coonan, who took over in June when previous executive director Maggie Finnerty stepped down. At Ecotrust Oborne was part of the group working on food infrastructure and supporting food entrepreneurs.…

Profile: ESG Law's Krista Hiner keeps esports teams in line with the law

Technology News - Tue, 10/15/2019 - 17:15
At ESG Law, one of the most prominent esports-focused law firms in the country, Krista Hiner is pursuing her passion at the nexus of law and competitive gaming.

SNC Dream Chaser space plane takes shape for NASA's 2021 mission (Photos)

Technology News - Tue, 10/15/2019 - 17:05
The Louisville company readies to assemble the cargo hauler targeted for a 2021 NASA mission.

Your car can do what? Tesla's secret 'Easter egg' features (Video)

Technology News - Tue, 10/15/2019 - 17:00
There’s a lot that makes Tesla Inc. stand apart from other automakers — but probably nothing is as unusually playful as the electric cars’ not-so-secret features, known as Easter eggs. The Easter eggs, a 40-year-old term for secret features in video games, were initially hidden within the vehicles, triggered by actions like holding down the Tesla “T” logo or rapidly activating Autopilot four times in a row. That meant users had to stumble upon the features or learn about how to trigger…

From spirits to stars: M13 raises $175 million for 'venture engine'

Technology News - Tue, 10/15/2019 - 16:48
In the mid-aughts, when brothers Carter and Courtney Reum left their jobs as investment bankers at Goldman Sachs to found their first company together, "No one that was in our peer group was leaving Goldman Sachs to be entrepreneurs," Courtney Reum remembered. "People left to do private equity, and it was like the heyday of hedge funds," the Chicago native told L.A. Biz in an interview. "When we left to be entrepreneurs ... literally I had someone say to me, 'I don't get it. Like you're going to…

Fast-growing S.F. search company scores $110 million in funding

Technology News - Tue, 10/15/2019 - 16:48
Search company Algolia landed a $110 million funding round that will accelerate its business on several key fronts, the company said Tuesday. The San Francisco startup plans to use its Series C trove to continue with its steep pace of hiring, expand its geographic reach and evolve its search-as-a-service offering. Algolia’s search technology is embedded in customer websites and aims to deliver fast, personalized and highly relevant search results. It currently has 8,000 customers in 100 countries…

American Airlines pilots pushing for more reliable flight scheduling

Technology News - Tue, 10/15/2019 - 15:08
Pilots at the world's largest airline in a new video confess they too feel the ugly effects of flight delays and cancellations that have impacted American Airlines operations in recent months.

Report: Larry Ellison has 5 possible candidates in mind as Oracle's next co-CEO

Technology News - Tue, 10/15/2019 - 15:04
Five company insiders could be possible candidates for the role of co-CEO of Oracle Corp. since Mark Hurd went on medical leave, according to analysts who spoke with Business Insider. Oracle founder and Chairman Larry Ellison told analysts last month that he would recommend five possible internal candidates for the co-CEO role — shared with co-CEO Safra Catz — to the company’s board. He specifically named Steve Miranda, executive vice president of Oracle Applications product development, and…

Why Amazon developed a homeless shelter on its campus

Technology News - Tue, 10/15/2019 - 14:50
As Denver struggles with homeless issues, take a look at what one of the biggest employers here is doing in its hometown. This eight-story, 63,000-square-foot shelter neighbors Amazon’s 24-story office tower in Seattle and will offer 275 beds, a lobby, dining area and top-floor recreation room and terrace.

3 takeaways from a hedge fund's push to split Emerson in two

Technology News - Tue, 10/15/2019 - 14:50
Hedge fund investor D.E. Shaw & Co. on Tuesday went public with its demands that Ferguson-based Emerson Electric (NYSE: EMR) make big changes, including splitting up the company, releasing a letter it sent to Emerson's board. Earlier this month, Emerson said it would conduct a "comprehensive review" of its operational, capital allocation and portfolio initiative "to enhance shareholder value" and position the company for success in the near and long term. That move following reports that D.E. Shaw…

Intel scoops up Canadian 5G software business

Technology News - Tue, 10/15/2019 - 14:48
Chipmaker Intel Corp. is buying a software business from Canadian IT service provider Pivot Technology Solutions in a bid to boost its own 5G offerings. Intel is paying $27 million for Pivot’s Smart Edge software. Under the deal, 25 employees, including Smart Edge’s CEO Bob Pike, will join Intel. The employees are based in Irvine and Atlanta and there is no plan to relocate them. The deal should close “in the coming weeks,” Santa Clara-based Intel said in a written statement. When the…

Austin-area rocket maker could carry Air Force payloads to space, win piece of $986M pie

Technology News - Tue, 10/15/2019 - 14:40
Firefly faces some deep-pocketed competition from the likes of Northrop Grumman and SpaceX. Each of the eight companies selected by the Air Force will receive a minimum of $50,000.

ABQ aviation startup acquired one year after takeoff

Technology News - Tue, 10/15/2019 - 14:30
AeroVonics, a local aviation startup founded in July 2018 by Aspen Avionics co-founder Jeff Bethel, has landed an acquisition deal with Montana-based uAvionix. Bethel, who founded Aspen with Peter Lyons in 2004, said the deal closed Oct. 9. He declined to disclose its value. AeroVonics creates display systems for use in plane cockpits that will be incorporated into uAvionix's product line, according to a release announcing the acquisition. AeroVonics has two employees, according to Bethel. UAvionix…

Federal agency accepts SHINE Medical isotope production facility application

Technology News - Tue, 10/15/2019 - 14:18
SHINE Medical Technologies LLC said Tuesday the U.S. Nuclear Regulatory Commission has accepted the company's operating license application, which starts the agency's detailed technical review of the company's medical isotope production facility in Janesville. SHINE is a nuclear medicine company that's setting up the commercial production of an radioisotope used in medical imaging that recently secured $50 million from Los Angeles investment firm Oaktree Capital Management to fund construction of…

Local government contractor to lay off part of workforce

Technology News - Tue, 10/15/2019 - 14:14
The company had recently had a contract rescinded.

AT&T’s HBO Max faces more competition with AMC jumping into streaming as Disney, Apple near

Technology News - Tue, 10/15/2019 - 14:06
Add yet another name to the list of potential rivals for AT&T’s Inc.’s planned streaming service by HBO. AMC Theatres (NYSE:AMC), the popular chain for folks watching movies the traditional way, is launching a service for the casual confines of home, according to a statement on Tuesday. The company's "Theatres On Demand" is a digital movie offering that will start with about 2,000 movies, available for purchase or rent. While some providers may emphasize their own content, AMC has agreements…