The daily fantasy sports companies, backed by several media groups, professional sports leagues and teams, are set to merge.

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Facebook acquired the face recognition software developer, which spun out of Carnegie Mellon University last year, for an undisclosed sum.

The photo modification app owner had targeted a $5bn valuation for an initial public offering that would grant exits to Sina Weibo, Foxconn and IDG Capital Partners.

General Electric has purchased Bit Stew for $153m, providing an exit to its own corporate venturing unit GE Ventures as well as Cisco Investments.

Citrix-backed Wise.io is one of three companies GE has acquired this week in a bid to strengthen its Predix industrial internet platform.

The media group could be sold for between $500m and $1bn to a Chinese consortium headed by the founder of its Chinese venture capital affiliate.

Nereus Pharmaceuticals is set to record an exit from BeyondSpring, which is targeting $100m in its initial public offering.

The Chinese instalment buying platform is seeking between $500m and $800m in a US IPO that will provide exits to Kunlun Tech and Ant Financial.