The technology sector is experiencing a speculative boom, resulting in a surge in the shares of technology companies. The SPDR Select Sector Technology exchange-traded fund, which closely follows the tech sector of the S&P 500, has witnessed a remarkable 20% increase since October 26th. The ongoing artificial intelligence rally shows no signs of losing momentum.
Acquisition Deal: Carlyle Group and Insight Partners
In a significant acquisition deal, investment firms Carlyle Group and Insight Partners have agreed to purchase risk-management software and services provider Exiger for approximately $1.2 billion.
Lyft Faces Share Sell-Off
Ride-hailing company Lyft saw a drop in its shares after two insiders decided to sell their holdings in the company.
Google’s Settlement in Antitrust Case
Google’s parent company, Alphabet, has resolved one of its antitrust challenges by agreeing to pay $700 million and implement certain changes to its app store.
Ebix Struggles with Financial Woes
Facing pressures from interest rates and an aftermath of auditing concerns, software and e-commerce services supplier Ebix has filed for bankruptcy. However, it has received a potential offer of around $400 million for its North American life and annuity business.