WPP, News Corp, Microsoft and Deutsche Telekom will exit adtech provider AppNexus in a purchase that is reportedly worth about $1.6bn.

The artificial intelligence technology developer is set to be acquired by investor Microsoft in a deal that will also allow Samsung, Siemens and ABB to exit.

VW will invest $100m in QuantumScape and form a joint venture with the Stanford spinout to develop batteries for long-range electric vehicles.

Simility, a developer of fraud detection software, is set to be acquired by corporate investor PayPal for $120m.

Chain, which has raised $43m from investors including Visa, Orange, Nasdaq, Fiserv, Capital One and Citi, could be acquired for $500m in cash and tokens.

UBC cannabis services spinout Anandia has been acquired by marijuana distributor Aurora Cannabis for $86.5m as Canada prepares to legalise the drug for recreational purposes.

Online advertising platform AppNexus is in talks with AT&T over a deal that would follow more than $340m of funding from backers such as WPP, Microsoft, News Corp and Deutsche Telekom.

Indoor location software provider July Systems, which has received funding from Intel, Acer and Motorola, is set to be bought by Cisco.

Paytm has paid an undisclosed amount for the AI technology developer, which raised $7.7m in a Flipkart-backed round in 2015.