Technology News Roundup

Published on: November 12, 2019
Author: Amy Liu

Thomas H. Lee, Cannae to sell 10M Ceridian HCM shares

  • Ceridian HCM Holding (NYSE:CDAY) falls 1.9% in after-hours trading after existing shareholders Thomas H. Lee Partners and Cannae Holdings (NYSE:CNNE) each plan to offer 5M CDAY shares in secondary public offering.
  • In September, Thomas H. Lee Partners sold 6.5M CDAY shares and Cannae sold 2M shares. After that offering, Thomas H. Lee was expected to hold 23.7M shares and Cannae was expected to hold 28.7M shares.

Digital Colony buys Beanfield Technologies in Canada

  • Colony Capital’s (CLNY -2.2%) Digital Colony digital infrastructure platform, acquires Beanfield Technologies, an independent bandwidth infrastructure provider in Canada.
  • Financial terms of the deal weren’t disclosed.
  • Beanfield serves enterprise, carrier, and multi-dwelling units markets; it has 366 route kilometers of fiber infrastructure in Toronto and Montreal.

Lemonade delays IPO

  • SoftBank-backed (OTCPK:SFTBF,OTCPK:SFTBY) insurance startup Lemonade will delay its listing due to concerns about how fast-growing tech companies are currently viewed by the Street, according to Business Insider sources.
  • Goldman Sachs and JPMorgan were leading the offering, which earlier reports said would value Lemonade at $2B.
  • The nervousness follows the failed IPO of SoftBank-backed WeWork. The tech giant stepped in with a more than $10B rescue package for an 80% stake in WE, which had a plummeting valuation and a raging cash burn problem.

HBO’s Plepler coming to Apple – WSJ

  • Apple (NASDAQ:AAPL) could finalize the exclusive production deal with Richard Plepler within the next few weeks, according to WSJ sources.
  • Plepler left HBO in February after three decades with the company in various roles. He is working on forming a production company with financial backers and talked with several suitors before deciding on Apple.
  • Apple TV+ heads Jamie Erlicht & Zack Van Amburg are looking to ramp up content following the service’s November 1 launch.

Facebook launches Pay service; shares +2.4%

  • Facebook (NASDAQ:FB) says Pay offers “a convenient, secure and consistent payment” method across its platforms, including Messenger, Instagram, and WhatsApp.
  • Users add their preferred payment method once and have to opt-in to each platform in order to use Pay there.
  • Facebook Pay will start rolling out to Facebook and Messenger this week in the United States. Use across Instagram and WhatsApp will follow at a later date.
  • Facebook shares are up 2.4%. Rival PayPal (NASDAQ:PYPL) is down 0.6% and Square (NYSE:SQ) drops 1.6%.