TechTaffy

tech:

taffy

HCL Technologies, Sumeru Equity Partners acquire Actian for $330M

By TechTaffy Desk

HCL Technologies and Sumeru Equity Partners (SEP), a technology and growth-focused private equity firm, have signed a definitive agreement to acquire Palo Alto-based hybrid data management and integration company Actian. The all-cash deal is valued at $330 million.

After the acquisition, HCL will own 80 percent, while SEP will own approximately 20 percent stake of a JV entity; which in turn will own 100% shareholding of Actian. HCL as the majority stakeholder will also have majority representation on the Actian board of directors, said the companies in a statement. SEP managing directors George Kadifa and Sanjeet Mitra will also join the board at closing.

Actian will continue to operate as a separate entity within the HCL Technologies ecosystem, led by current CEO and president, Rohit De Souza.

[Image courtesy: Actian]

Just in

Series A

Tembo raises $14M

Cincinnati, Ohio-based Tembo, a Postgres managed service provider, has raised $14 million in a Series A funding round.
Around the web

Raspberry Pi is now a public company — TC

Raspberry Pi priced its IPO on the London Stock Exchange on Tuesday morning at £2.80 per share, valuing it at £542 million, or $690 million at today’s exchange rate, writes Romain Dillet. 
Fundings

AlphaSense raises $650M

AlphaSense, a market intelligence and search platform, has raised $650 million in funding, co-led by Viking Global Investors and BDT & MSD Partners.
Around the web

Elon Musk’s xAI raises $6B to take on OpenAI — VentureBeat

Confirming reports from April, the series B investment comes from the participation of multiple known venture capital firms and investors, including Valor Equity Partners, Vy Capital, Andreessen Horowitz (A16z), Sequoia Capital, Fidelity Management & Research Company, Prince Alwaleed Bin Talal and Kingdom Holding, writes Shubham Sharma. 
IT

Capgemini partners with DARPA to explore quantum computing for carbon capture

Capgemini Government Solutions has launched a new initiative with the Defense Advanced Research Projects Agency (DARPA) to investigate quantum computing's potential in carbon capture.