Juul, maker of the best-selling e-cigarettes, agrees to accept a $12.8 billion investment from Altria, the maker of Marlboro cigarettes.
Obama-era regulation was supposed to curtail livestock antibiotics. But consumers are pushing Perdue, McDonalds, Tyson, Walmart, and more to change.
Social game developer Zynga has entered into an agreement to acquire Small Giant Games, the startup behind the popular mobile game Empires & Puzzles, in a deal expected to total $700 million.
Zynga, which has tumbled since its 2011 Nasdaq initial public offering, will initially acquire 80 percent of Small Giant Games for $560 million, composed of $330 million in cash and $230 million of unregistered Zynga common stock. Zynga will fund part of the transaction with a $200 million credit facility.
“We’ve been impressed by the quality and momentum of Empires & Puzzles as we add another Forever Franchise into Zynga’s portfolio,” Zynga chief executive officer Frank Gibeau said in a statement. “Small Giant has created an innovative game that delivers a unique player experience that engages over the long term.”
The deal is expected to close on January 1. Zynga will purchase the remaining 20 percent of Small Giant over the next three years “at valuations based on specified profitability goals.”
Helsinki-based Small Giant Games had raised $52 million in equity funding from EQT Ventures, Creandum, Spintop Ventures, Profounders and others since it was founded in 2013. The company reported $33 million of revenue for Empires & Puzzles, its most popular game, 10 months after its launch in 2017. Small Giant, which is also behind Alliance Wars and Season 2: Atlantis, says they exceeded 2017’s revenue just four months into 2018.
“Our studio was founded on the idea that small, skillful teams can accomplish giant things, and I am confident that partnering with Zynga is the right next step in our evolution,” Small Giant CEO Timo Soininen said in a statement. “We will now operate as a separate studio within Zynga, maintaining our identity, culture and creative independence. By leveraging the expertise and support from the wider Zynga team, we will amplify the reach of Empires & Puzzles and the new games in our development pipeline.”
Zynga, founded in 2007, is the developer of FarmVille, Zynga
Zynga expects to bring in $243 million in revenue in the fourth quarter of 2018.
Back in March came the surprising news that a satellite communications company still more or less in stealth mode had launched several tiny craft into orbit — against the explicit instructions of the FCC. The company, Swarm Technologies, now faces a $900,000 penalty from the agency, as well as extra oversight of its continuing operations.
Swarm’s SpaceBEEs are the beginning of a planned constellation of small satellites with which the company intends to provide low-cost global connectivity.
Unfortunately, the units are so small — about a quarter the size of a standard cubesat, which is already quite tiny — that the FCC felt they would be too difficult to track, and did not approve the launch.
Swarm, perhaps thinking it better to ask forgiveness than file the paperwork for permission, launched anyway in January aboard India’s PSLV-C40, which carried more than a dozen other passengers to space as well. (I asked Swarm and the launch provider, Spaceflight, at the time for comment but never heard back.)
The FCC obviously didn’t like this, and began an investigation shortly afterwards. According to an FCC press release:
The investigation found that Swarm had launched the four BEEs using an unaffiliated launch company in India and had unlawfully transmitted signals between earth stations in Georgia and the satellites for over a week. In addition, during the course of its investigation, the FCC discovered that Swarm had also performed unauthorized weather balloon-to-ground station tests and other unauthorized equipment tests prior to the small satellites launch. All these activities require FCC authorization and the company had not received such authorization before the activities occurred.
Not good! As penance, Swarm Technologies will have to pay the aforementioned $900,000, and now has to submit pre-launch reports to the FCC within five days of signing an agreement to launch, and at least 45 days before takeoff.
The company hasn’t been sitting on its hands this whole time. The unauthorized launch was a mistake to be sure, but it has continued its pursuit of a global constellation and launched three more SpaceBEEs into orbit just a few weeks ago aboard a SpaceX Falcon 9.
Swarm has worked to put the concerns about tracking to bed; in fact, the company claims its devices are more trackable than ordinary cubesats, with a larger radar cross section and extra reflectivity thanks to a Van Atta array (ask them). SpaceBEE-1 is about to pass over Italy as I write this — you can check its location live here.
A new DOJ indictment outlines how Chinese hackers allegedly compromised data from companies in a dozen countries in a single intrusion.
Plus: ‘To All the Boys I’ve Loved Before’ gets a Netflix sequel and ‘Aquaman’ rules the box office.
The mapping startup wants to pay a volunteer mapping army in cryptocurrency to carry out its data missions.