Daily Deal Round Up: January 10th, 2023

M&A

Diversified software group Microsoft has paid $190m to buy Fungible, the US-based data centre-focused hardware and software provider backed by corporates Juniper Networks, SoftBank and Samsung. Fungible had raised over $300m as of a $200m series C round led by SoftBank Vision Fund I in 2019.

Integrated data services group Amplify Health has acquired AiDA Technologies, a Singapore-based artificial intelligence technology developer backed by conglomerate Kuok Group and payment services provider Mastercard, for an undisclosed sum. Mastercard, corporate venture capital unit Kuok Ventures and SGInnovate had combined to provide an undisclosed amount of series A funding for AiDA in 2019.

Virtual benefits broker Jellyvision has purchased US-based insurance marketplace operator Picwell for an undisclosed amount, allowing firearms manufacturer Springfield Armory and insurers Aflac, Blue Cross Blue Shield and MassMutual to exit. It had secured at least $11m as of a $4m series B round in 2018.

Heavy equipment and truck provider Ritchie Bros has paid an undisclosed sum to acquire VeriTread, a US-based shipping exchange service backed by Sumitomo Corporation of America, a subsidiary of conglomerate Sumitomo, for an undisclosed sum. The corporate invested $2.5m in 2017 before VeriTread added $3.5m from unnamed investors two years later. It had previously raised $1.5m according to securities filings.

Reverse merger

DigiAsia Bios, an Indonesia-based embedded financial technology provider backed by payment services firm Mastercard, has merged with Nasdaq-listed special purpose acquisition company StoneBridge Acquisition Corporation. Mastercard led a series B round of undisclosed size in 2020, and the latest transaction values the combined business at $500m pre-equity.

Funding