Invitae To Acquire Ciitizen – Quick Facts
Invitae (NVTA) has entered into a definitive agreement to acquire Ciitizen, a consumer health tech company. Under the agreement, Invitae will acquire Ciitizen for approximately $325 million, consisting of approximately $125 million in cash and approximately 7.07 million shares of Invitae common stock.
Ciitizen enables patients to collect, store and share their medical records in a single location. Ciitizen developed machine learning and AI technologies to abstract critical information from unstructured health records to advance the understanding of diseases.
Invitae said the acquisition would enhance its platform by providing patients an easy-to-use, centralized hub for their genomic and clinical information.
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Gold Prices Dip On Stronger Dollar
Gold prices edged lower on Tuesday, retreating further from a two-and-a-half month peak hit last week, as a firmer dollar and an uptick in U.S. Treasury yields dented the appeal of non-interest bearing bullion.
Spot gold dropped 0.7 percent to $1,810.91 per ounce, while U.S. gold futures fell 1.1 percent to $1,812.85.
The dollar index rose 0.2 percent against its rivals and benchmark 10-year yields jumped to a more than one-week high, as investors assessed the global outlook against the backdrop of rising Delta coronavirus cases and signs of a slowdown in the economic recovery.
Market participants also looked ahead to Thursday’s meeting of the European Central Bank, which may act to slow down its massive bond-buying program in light of recent stronger-than-expected inflation data.
Earlier today, the Reserve Bank of Australia pressed ahead with its decision to reduce bond purchases by A$1 billion a week this month but postponed its next review of the weekly pace from November to mid-February.
Accenture To Buy King James Group For Undisclosed Terms – Quick Facts
Accenture (ACN) announced Tuesday it has entered into an agreement to acquire King James Group, a creative agency with deep expertise in brand strategy, creativity and digital marketing services. The completion of the acquisition is subject to customary closing conditions. Terms of the acquisition were not disclosed.
The move will strengthen Accenture Interactive’s focus on putting creativity at the center of experience-led transformation to drive relevance and growth for its clients.
This is the first planned acquisition for Accenture in South Africa and on the African continent.
King James Group’s team of 300 highly skilled creative and brand experts will join Accenture Interactive in South Africa.
U.S. Consumer Confidence Slumps More Than Expected In February
Consumer confidence in the U.S. saw a substantial deterioration in the month of August, according to a report released by the Conference Board on Tuesday.
The Conference Board said its consumer confidence index tumbled to 113.8 in August from a downwardly revised 125.1 in July.
Economists had expected the consumer confidence index to drop to 123.0 from the 129.1 originally reported for the previous month.
With the bigger than expected decrease, the index slumped to its lowest level since hitting 95.2 in February of 2021.
“Concerns about the Delta variant—and, to a lesser degree, rising gas and food prices—resulted in a less favorable view of current economic conditions and short-term growth prospects,” said Lynn Franco, Senior Director of Economic Indicators at The Conference Board.
She added, “While the resurgence of COVID-19 and inflation concerns have dampened confidence, it is too soon to conclude this decline will result in consumers significantly curtailing their spending in the months ahead.”
The report also showed the present situation index slid to 147.3 in August from 157.2 in July, while the expectations index fell to 91.4 from 103.8.
Mastercard To Acquire Aiia For Undisclosed Terms – Quick Facts
Mastercard (MA) announced Tuesday it has entered into an agreement to acquire Aiia. Terms of the agreement were not disclosed.
Aiia is a licensed Payment Initiation Service Provider (PISP) and Account Information Service Provider (AISP) and operates under the supervision of the Danish Financial Supervisory Authority (FSA).
Aiia is a leading European open banking technology provider offering a direct connection to banks through a single API, allowing its customers to develop and launch new digital solutions that meet the needs of everyday life, work and play.
Open banking is democratizing financial services by putting consumers at the center of where and how their data is used to provide the services they want and need. Fintechs and banks use this consumer permissioned data to provide easier and more inclusive access to credit, personal financial management, digital wallets and payments services. Mastercard plays a central role in this ecosystem as a trusted intermediary and secure data network.
Mastercard was an early advocate of open banking across the globe. The company has made bold moves to blend its proprietary technology and multi-rail payments expertise with strong partners offering complementary services.
The transaction, which is anticipated to close by year’s end, is subject to customary closing conditions.