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Accenture Federal Services to Acquire Novetta and Bring More Advanced AI, Cyber, and Cloud Capabilities to Client Missions

Carlyle

ARLINGTON, Va.; June 1, 2021- Accenture Federal Services (AFS), a wholly owned subsidiary of Accenture (NYSE: ACN), has entered into an agreement to acquire Novetta, an advanced analytics company serving U.S. federal organizations that are pushing the limits of what’s possible with machine learning, cyber, and cloud engineering.

In fast-changing, high-risk environments, technology advancements and the explosive growth in data challenge traditional ways of operating. Novetta applies insights and disruptive technologies to transform how defense, intelligence, and law enforcement organizations can use data to better meet their mission and empower their workforce.

“Novetta will bring expanded capabilities, broad client relationships, and unique assets that complement our work in the national security sector and add greater scale to our digital capabilities,” said Accenture Federal Services CEO, John Goodman. “By joining forces, we will help clients in all government sectors become leaders in using sophisticated analytics and emerging technologies to solve problems in new ways and transform how they meet their missions.”

Novetta’s 1,300 employees—which include software developers, data scientists, and specialists in AI, machine learning, cyber, cloud, and information exploitation—will join Accenture Federal Services’ over 10,500 employees. Together, they will deliver the next generation of programs to change and improve how the federal government works in the digital domain and be more innovative, agile, and secure.

“I am extremely excited about joining Accenture Federal Services,” said Novetta President and CEO, Tiffanny Gates. “Because of our deep commitment to our staff and customers, it was critical to find the right fit, and AFS is an ideal home. They will provide new growth opportunities for our people, enable expanded capabilities for our customers, and allow us to accelerate our growth trajectory. I couldn’t be more proud of the outcome and I look forward to our future together.” 

The completion of the acquisition from the global investment firm The Carlyle Group Inc. is subject to regulatory review and other customary closing conditions. Terms of the transaction were not disclosed.

About Accenture Federal Services

Accenture Federal Services, a wholly owned subsidiary of Accenture LLP, is a U.S. company with headquarter offices in Arlington, Virginia. Accenture’s federal business has served every cabinet-level department and 30 of the largest federal organizations. Accenture Federal Services transforms bold ideas into breakthrough outcomes for clients at defense, intelligence, public safety, civilian and military health organizations. Learn more at www.accenturefederal.com.

About Accenture

Accenture is a global professional services company with leading capabilities in digital, cloud and security. Combining unmatched experience and specialized skills across more than 40 industries, we offer Strategy and Consulting, Interactive, Technology and Operations services—all powered by the world’s largest network of Advanced Technology and Intelligent Operations centers. Our 537,000 people deliver on the promise of technology and human ingenuity every day, serving clients in more than 120 countries. We embrace the power of change to create value and shared success for our clients, people, shareholders, partners, and communities. Visit us at www.accenture.com.

About The Carlyle Group

The Carlyle Group (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Investment Solutions. With $260 billion of assets under management as of March 31, 2021, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. The Carlyle Group employs more than 1,800 people in 29 offices across five continents. Further information is available at www.carlyle.com. Follow The Carlyle Group on Twitter @OneCarlyle.

Forward-Looking Statements
Except for the historical information and discussions contained herein, statements in this news release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “may,” “will,” “should,” “likely,” “anticipates,” “expects,” “intends,” “plans,” “projects,” “believes,” “estimates,” “positioned,” “outlook” and similar expressions are used to identify these forward-looking statements. These statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied. Many of the following risks, uncertainties and other factors identified below are, and will be, amplified by the COVID-19 pandemic. These risks include, without limitation, risks that: Accenture and Novetta will not be able to close the transaction in the time period anticipated, or at all, which is dependent on the parties’ ability to satisfy certain closing conditions; the transaction might not achieve the anticipated benefits for Accenture; Accenture’s results of operations have been significantly adversely affected and could in the future be materially adversely impacted by the COVID-19 pandemic; Accenture’s results of operations have been, and may in the future be, adversely affected by volatile, negative or uncertain economic and political conditions and the effects of these conditions on the company’s clients’ businesses and levels of business activity; Accenture’s business depends on generating and maintaining ongoing, profitable client demand for the company’s services and solutions including through the adaptation and expansion of its services and solutions in response to ongoing changes in technology and offerings, and a significant reduction in such demand or an inability to respond to the evolving technological environment could materially affect the company’s results of operations; if Accenture is unable to keep its supply of skills and resources in balance with client demand around the world and attract and retain professionals with strong leadership skills, the company’s business, the utilization rate of the company’s professionals and the company’s results of operations may be materially adversely affected; Accenture could face legal, reputational and financial risks if the company fails to protect client and/or company data from security incidents or cyberattacks; the markets in which Accenture operates are highly competitive, and Accenture might not be able to compete effectively; Accenture’s profitability could materially suffer if the company is unable to obtain favorable pricing for its services and solutions, if the company is unable to remain competitive, if its cost-management strategies are unsuccessful or if it experiences delivery inefficiencies or fail to satisfy certain agreed-upon targets or specific service levels; changes in Accenture’s level of taxes, as well as audits, investigations and tax proceedings, or changes in tax laws or in their interpretation or enforcement, could have a material adverse effect on the company’s effective tax rate, results of operations, cash flows and financial condition; Accenture’s ability to attract and retain business and employees may depend on its reputation in the marketplace; as a result of Accenture’s geographically diverse operations and its growth strategy to continue to expand in its key markets around the world, the company is more susceptible to certain risks; Accenture’s business could be materially adversely affected if the company incurs legal liability; Accenture’s work with government clients exposes the company to additional risks inherent in the government contracting environment; Accenture’s results of operations could be materially adversely affected by fluctuations in foreign currency exchange rates; if Accenture is unable to manage the organizational challenges associated with its size, the company might be unable to achieve its business objectives; if Accenture does not successfully manage and develop its relationships with key alliance partners or fails to anticipate and establish new alliances in new technologies, the company’s results of operations could be adversely affected; Accenture might not be successful at acquiring, investing in or integrating businesses, entering into joint ventures or divesting businesses; if Accenture is unable to protect or enforce its intellectual property rights or if Accenture’s services or solutions infringe upon the intellectual property rights of others or the company loses its ability to utilize the intellectual property of others, its business could be adversely affected; Accenture’s results of operations and share price could be adversely affected if it is unable to maintain effective internal controls; changes to accounting standards or in the estimates and assumptions Accenture makes in connection with the preparation of its consolidated financial statements could adversely affect its financial results; Accenture might be unable to access additional capital on favorable terms or at all and if the company raises equity capital, it may dilute its shareholders’ ownership interest in the company; Accenture may be subject to criticism and negative publicity related to its incorporation in Ireland; as well as the risks, uncertainties and other factors discussed under the “Risk Factors” heading in Accenture plc’s most recent Annual Report on Form 10-K and other documents filed with or furnished to the Securities and Exchange Commission. Statements in this news release speak only as of the date they were made, and Accenture undertakes no duty to update any forward-looking statements made in this news release or to conform such statements to actual results or changes in Accenture’s expectations.

# # #

Contact: 

Donna Savarese
Accenture Federal Services
donna.savarese@accenturefederal.com
+1 314 401 8114

Brittany Berliner
The Carlyle Group
brittany.berliner@carlyle.com
+1 (212) 813 4839

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Cloudera Enters into Definitive Agreement to be Acquired by Clayton, Dubilier & Rice and KKR for $5.3 Billion

KKR

Cloudera Stockholders to Receive $16.00 Per Share in Cash

SANTA CLARA, Calif., June 1, 2021 /PRNewswire/ — Cloudera, (NYSE: CLDR), the enterprise data cloud company, today announced that it has entered into a definitive agreement to be acquired by affiliates of Clayton, Dubilier & Rice (“CD&R”) and KKR in an all cash transaction valued at approximately $5.3 billion. The transaction will result in Cloudera becoming a private company and is expected to close in the second half of 2021.

Cloudera

The Board of Directors of Cloudera (the “Board”) has unanimously approved the transaction and recommends that the Cloudera shareholders approve the transaction and adopt the merger agreement. Entities related to Icahn Group, collectively holding approximately 18% of the outstanding shares of Cloudera common stock, have entered into a voting agreement pursuant to which they have agreed, among other things, to vote their shares of Cloudera common stock in favor of the transaction.

The transaction delivers substantial value to Cloudera shareholders, who will receive $16.00 in cash per share, representing a 24% premium to the closing price as of May 28, 2021 and a 30% premium to the 30-day volume weighted average share price.

“This transaction provides substantial and certain value to our shareholders while also accelerating Cloudera’s long-term path to hybrid cloud leadership for analytics that span the complete data lifecycle – from the Edge to AI,” said Rob Bearden, CEO of Cloudera. “We believe that as a private company with the expertise and support of experienced investors such as CD&R and KKR, Cloudera will have the resources and flexibility to drive product-led growth and expand our addressable market opportunity.”

“We very much look forward to working with Cloudera as it continues to execute its long-term transformation strategy,” said Jeff Hawn, CD&R Operating Partner who will serve as Chairman of the company upon the close of the transaction. “The company has made significant progress establishing the Cloudera Data Platform (CDP) as a leader in hybrid and multi-cloud analytics, and we believe that our experience and capabilities can offer valuable support to accelerate expansion into new products and markets.” Mr. Hawn’s past roles include serving as Chairman and Chief Executive Officer of Quest Software, Vertafore, and Attachmate.

“We have followed the Cloudera story closely for a number of years and are pleased to be supporting its mission of helping companies make better use of their data in the ever-evolving hybrid IT environment,” said John Park, KKR Partner and Head of Americas Technology Private Equity. “We are excited to contribute to Cloudera’s accelerated innovation efforts as a private company.”

KKR is making the investment from its North American private equity funds, adding to KKR’s experience helping to grow leading global technology businesses, including GoDaddy, Internet Brands, Epicor, BMC, Optiv, Calabrio, Corel and 1-800 Contacts. CD&R’s investments in technology-related businesses include Epicor, Capco, m2gen, Sirius Computer Solutions, and TRANZACT.

Closing of the deal is subject to customary closing conditions, including the approval of Cloudera shareholders and antitrust approval. The agreement includes a 30-day “go-shop” period expiring on [July 1], 2021, which allows the Board and its advisors to actively initiate, solicit and consider alternative acquisition proposals from third parties – with an additional 10 days to negotiate a definitive agreement with qualifying parties. The Board will have the right to terminate the merger agreement to enter into a superior proposal subject to the terms and conditions of the merger agreement. There can be no assurance that this “go-shop” will result in a superior proposal, and Cloudera does not intend to disclose developments with respect to the solicitation process unless and until the Board receives an acquisition proposal that it determines is a superior proposal, or it otherwise determines such disclosure is required.

First Quarter Fiscal 2021 Financial Results

Cloudera will announce its first quarter fiscal year 2021 financial results in a separate release today. The press release will also be available on the Investor Relations section of Cloudera’s website. Due to the announced transaction with affiliates of CD&R and KKR, Cloudera has cancelled its earnings conference call previously scheduled for June 2, 2021.

Advisors

Morgan Stanley & Co LLC is serving as exclusive financial advisor to Cloudera, and Latham & Watkins, LLP is serving as legal advisor to Cloudera. GCA Advisors, LLC, BofA Securities, William Blair & Company, L.L.C., Perella Weinberg Partners LP, Cowen and J.P. Morgan are serving as financial advisors and Kirkland & Ellis, LLP and Debevoise & Plimpton LLP are serving as legal advisor to CD&R and KKR. J.P. Morgan, Bank of America, and KKR Capital Markets have committed to providing debt financing for the transaction.

About Cloudera

At Cloudera, we believe that data can make what is impossible today, possible tomorrow. We empower people to transform complex data into clear and actionable insights. Cloudera delivers an enterprise data cloud for any data, anywhere, from the Edge to AI. Powered by the relentless innovation of the open source community, Cloudera advances digital transformation for the world’s largest enterprises. Learn more at Cloudera.com.

Cloudera and associated marks are trademarks or registered trademarks of Cloudera, Inc. All other company and product names may be trademarks of their respective owners.

About Clayton, Dubilier & Rice

CD&R is a private investment firm with a strategy predicated on building stronger, more profitable businesses. Since inception, CD&R has managed the investment of more than $35 billion in 100 companies with an aggregate transaction value of more than $150 billion. The firm has offices in New York and London. For more information, please visit www.cdr-inc.com.

About KKR

KKR is a leading global investment firm that offers alternative asset management and capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of The Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

Important Information and Where to Find It

In connection with the proposed transaction between Cloudera, Inc. (“Cloudera”) and an affiliate of CD&R and KKR, a special stockholder meeting will be announced soon to obtain stockholder approval in connection with the proposed transaction. Cloudera expects to file with the Securities and Exchange Commission (“SEC”) a proxy statement (the “Proxy Statement”), the definitive version of which will be sent or provided to Cloudera stockholders. Cloudera may also file other documents with the SEC regarding the proposed transaction. This document is not a substitute for the Proxy Statement or any other document which Cloudera may file with the SEC. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE PROXY STATEMENT AND ANY OTHER RELEVANT DOCUMENTS THAT ARE FILED OR WILL BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND RELATED MATTERS. Investors and security holders may obtain free copies of the Proxy Statement (when it is available) and other documents that are filed or will be filed with the SEC by Cloudera through the website maintained by the SEC at www.sec.gov, Cloudera’s investor relations website at https://investors.cloudera.com/home/default.aspx or by contacting the Cloudera investor relations department at the following:

Participants in the Solicitation

Cloudera and certain of its directors, and executive officers and other members of management and employees may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction. Information regarding the persons who may, under the rules of the SEC, be considered to be participants in the solicitation of Cloudera’s stockholders will be set forth in the Proxy Statement for its special stockholder meeting. Cloudera stockholders may obtain additional information regarding the direct and indirect interests of the participants in the solicitation of proxies in connection with the proposed transaction, including the interests of Cloudera directors and executive officers in the transaction, which may be different than those of Cloudera stockholders generally, by reading the Proxy Statement and any other relevant documents that are filed or will be filed with the SEC relating to the transaction. You may obtain free copies of these documents using the sources indicated above.

Cautionary Statement Regarding Forward-Looking Statements About the Proposed Transaction

This communication contains “forward-looking statements” within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on Cloudera’s current expectations, estimates and projections about the expected date of closing of the proposed transaction and the potential benefits thereof, its business and industry, management’s beliefs and certain assumptions made by Cloudera, CD&R and KKR, all of which are subject to change. In this context, forward-looking statements often address expected future business and financial performance and financial condition, and often contain words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “could,” “seek,” “see,” “will,” “may,” “would,” “might,” “potentially,” “estimate,” “continue,” “expect,” “target,” similar expressions or the negatives of these words or other comparable terminology that convey uncertainty of future events or outcomes. All forward-looking statements by their nature address matters that involve risks and uncertainties, many of which are beyond our control, and are not guarantees of future results, such as statements about the consummation of the proposed transaction and the anticipated benefits thereof. These and other forward-looking statements, including the failure to consummate the proposed transaction or to make or take any filing or other action required to consummate the transaction on a timely matter or at all, are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed in any forward-looking statements. Accordingly, there are or will be important factors that could cause actual results to differ materially from those indicated in such statements and, therefore, you should not place undue reliance on any such statements and caution must be exercised in relying on forward-looking statements. Important risk factors that may cause such a difference include, but are not limited to: (i) the completion of the proposed transaction on anticipated terms and timing, including obtaining stockholder and regulatory approvals, anticipated tax treatment, unforeseen liabilities, future capital expenditures, revenues, expenses, earnings, synergies, economic performance, indebtedness, financial condition, losses, future prospects, business and management strategies for the management, expansion and growth of Cloudera’s business and other conditions to the completion of the transaction; (ii) conditions to the closing of the transaction may not be satisfied; (iii) the transaction may involve unexpected costs, liabilities or delays; (iv) the outcome of any legal proceedings related to the transaction; (v) the failure by CD&R and KKR to obtain the necessary debt financing arrangements set forth in the commitment letters received in connection with the transaction; (vi) the impact of the COVID-19 pandemic on Cloudera’s business and general economic conditions; (vii) Cloudera’s ability to implement its business strategy; (viii) significant transaction costs associated with the proposed transaction; (ix) potential litigation relating to the proposed transaction; (x) the risk that disruptions from the proposed transaction will harm Cloudera’s business, including current plans and operations; (xi) the ability of Cloudera to retain and hire key personnel; (xii) potential adverse reactions or changes to business relationships resulting from the announcement or completion of the proposed transaction; (xiii) legislative, regulatory and economic developments affecting Cloudera’s business; (xiv) general economic and market developments and conditions; (xv) the evolving legal, regulatory and tax regimes under which Cloudera operates; (xvi) potential business uncertainty, including changes to existing business relationships, during the pendency of the merger that could affect Cloudera’s financial performance; (xvii) restrictions during the pendency of the proposed transaction that may impact Cloudera’s ability to pursue certain business opportunities or strategic transactions; and (xviii) unpredictability and severity of catastrophic events, including, but not limited to, acts of terrorism or outbreak of war or hostilities, as well as Cloudera’s response to any of the aforementioned factors. While the list of factors presented here is considered representative, such list should not be considered to be a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization of forward looking statements. Consequences of material differences in results as compared with those anticipated in the forward-looking statements could include, among other things, business disruption, operational problems, financial loss, legal liability to third parties and similar risks, any of which could have a material adverse effect on Cloudera’s financial condition, results of operations, or liquidity. Cloudera does not assume any obligation to publicly provide revisions or updates to any forward-looking statements, whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws.

SOURCE Cloudera, Inc.

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http://www.cloudera.com

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eFFECTOR Therapeutics and Locust Walk Acquisition Corp. Announce Merger Agreement to Create Publicly Listed, Next-Generation Oncology Company Developing New Class of Cancer Therapies

Abingworth

Gross proceeds expected to include $60 million from a committed PIPE and up to $175 million held in trust

• Anticipated cash resources will fund eFFECTOR’s pipeline advancement through multiple clinical milestones

• Merger expected to be completed in third quarter of 2021; combined company expected to be listed on Nasdaq under the ticker “EFTR”

• Webcast to discuss the proposed transaction scheduled for Thursday, May 27th at 9:00 am ET

SAN DIEGO, May 27, 2021 – eFFECTOR Therapeutics, Inc. (eFFECTOR), a biopharmaceutical company focused on pioneering the development of selective translation regulation inhibitors (STRIs) for the treatment of cancer, and Locust Walk Acquisition Corp. (NASDAQ: LWAC), a blank-check company formed for the purpose of acquiring or merging with one or more businesses, today announced they have entered into a definitive merger agreement. Upon closing of the transaction, anticipated to occur in the third quarter of 2021, the combined company will be named eFFECTOR Therapeutics, Inc. and will be led by Steve Worland, Ph.D., president and CEO.  The combined company’s common stock is expected to be listed on the Nasdaq Capital Market under the ticker symbol “EFTR”.

“This milestone is the beginning of a significant new chapter in eFFECTOR’s history, as we build on our strong scientific foundation as leaders in the development of selective translation regulator inhibitors as a new class of therapies for cancer,” said Dr. Worland. “We’re entering into this transaction to accelerate eFFECTOR’s growth with the goal of delivering a new class of medicines to help drive improved health outcomes for people with cancer. We are excited to be selected by the management and board of LWAC, whose members have vast experience as investors and operating executives in the biotechnology industry.”

“After evaluating more than 90 biotech companies, eFFECTOR emerged as the best choice for our business combination,” stated Chris Ehrlich, CEO and director of LWAC. “eFFECTOR is at the cutting-edge of targeting translation regulation, which has the potential to simultaneously address multiple drivers of cancer. We are confident that the highly experienced management team with a track record of pipeline advancement and business accomplishments are prepared to lead eFFECTOR as a publicly listed company. This transaction positions eFFECTOR to reach important value inflection points for our impressive list of stakeholders.”

The transaction includes up to $175 million in trust at LWAC (less any redemptions by existing LWAC stockholders) and a concurrent, fully committed $60 million PIPE financing of common stock issued at $10.00 per share from new and existing leading healthcare investors including founding Series A investors Abingworth, SR One, The Column Group and U.S. Venture Partners, as well as Altitude Life Science Ventures, Sectoral Asset Management, Pfizer Ventures, Alexandria Venture Investments, BioMed Ventures and Osage University Partners.

Proceeds from the transaction are expected to provide eFFECTOR with the capital to further develop its pipeline, advancing it through multiple clinical milestones, including the following:

  • Report topline data from the randomized Phase 2b KICKSTART clinical trial of eFFECTOR’s lead product candidate, tomivorsertib, an oral small-molecule inhibitor of mitogen-activated protein kinases 1 and 2 (MNK) 1/2, in combination with pembrolizumab in metastatic non-small cell lung cancer (NSCLC), both in the frontline extension and frontline settings; this study is open for enrollment.
  • Initiate multiple Phase 2a expansion cohorts for zotatifin, a small-molecule inhibitor of eIF4A, in patients with breast cancer and NSCLC in the second half of 2021.
  • Support expansion of both tomivosertib and zotatifin into additional indications.

Key Transaction Terms

Upon the closing of the business combination, and assuming no redemptions of shares of LWAC by its public stockholders, eFFECTOR would be expected to have cash resources of approximately $210 million (less any redemptions), and a total enterprise valuation of $419 million.

The boards of directors of both eFFECTOR and LWAC have unanimously approved the proposed transaction, which is expected to be completed in the third quarter of 2021.  The closing of the transaction is subject to approval of LWAC shareholders and the satisfaction or waiver of certain other customary closing conditions.

Additional information about the transaction will be provided in a Current Report on Form 8-K to be filed by LWAC with the Securities and Exchange Commission (SEC) and will be available on the SEC’s website at www.sec.gov. In addition, LWAC intends to file a registration statement on Form S-4 with the SEC, which will include a proxy statement/prospectus, and will file other documents regarding the proposed transaction with the SEC.

Advisors

Credit Suisse and Stifel are acting as lead PIPE placement agents, and Credit Suisse is also acting as capital markets advisor to eFFECTOR. Locust Walk Securities is also acting as PIPE placement agent. Latham & Watkins LLP is acting as legal counsel to eFFECTOR. Cantor Fitzgerald is acting as the lead capital markets advisor to LWAC. JMP Securities and Mizuho Securities are also acting as capital markets advisors to LWAC. Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. is serving as legal counsel to LWAC.

Investor Webcast

The management teams of eFFECTOR and LWAC will host a webcast today, Thursday, May 27 at 9:00 a.m. ET to provide a brief overview of eFFECTOR and the proposed transaction. The webcast can be accessed here: http://public.viavid.com/index.php?id=145087

In addition, the link will be available on eFFECTOR’s website at www.effector.com and LWAC’s website at www.locustwalkacquisitioncorp.com.

About eFFECTOR

eFFECTOR is a clinical stage biopharmaceutical company focused on pioneering the development of a new class of oncology drugs referred to as selective translation regulator inhibitors (STRIs). eFFECTOR’s STRI product candidates target the eIF4F complex and its activating kinase, mitogen-activated protein kinase 1/2 (MNK 1/2). The eIF4F complex is a central node where two of the most frequently mutated signaling pathways in cancer, the PI3K-AKT and RAS-MEK pathways, converge to activate the translation of select messenger RNA into proteins that are frequent culprits in key disease driving processes. Each of eFFECTOR’s product candidates is designed to act on a single protein that drives the expression of multiple functionally related proteins, including oncoproteins and immunosuppressive proteins in T cells, that together control tumor growth, survival and immune evasion. eFFECTOR’s lead product candidate, tomivosertib, is a MNK 1/2 inhibitor.  KICKSTART, a randomized, double-blind, placebo controlled Phase 2b trial of tomivorsertib in NSCLC in combination with pembrolizumab is currently open for enrollment. Zotatifin, eFFECTOR’s inhibitor of eIF4A, is currently in the dose-escalation portion of a Phase 1/2 trial, with Phase 2a expansion cohorts expected to initiate in the second half of 2021. eFFECTOR has a global collaboration with Pfizer to develop inhibitors of a third target, eIF4E. eFFECTOR plans to evaluate zotatifin as a potential host-directed anti-viral therapy in patients with mild to moderate COVID in collaboration with University of California, San Francisco, under a $5 million grant sponsored by the Defense Advanced Research Projects Agency.

About Locust Walk Acquisition Corp.

Locust Walk Acquisition Corp. (NASDAQ: LWAC) is a blank-check company formed for the purpose of entering a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization, or other similar business combination with one or more businesses or entities.

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the federal securities laws with respect to the proposed transaction between Locust Walk Acquisition Corp. and eFFECTOR Therapeutics, Inc.  All statements other than statements of historical facts contained in this press release, including statements regarding LWAC or eFFECTOR’s future results of operations and financial position, the amount of cash expected to be available to eFFECTOR after the closing and giving effect to any redemptions by LWAC stockholders, eFFECTOR’s business strategy, prospective products, product approvals, research and development costs, timing and likelihood of success, plans and objectives of management for future operations, future results of current and anticipated products and expected use of proceeds, are forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including, but not limited to, the following risks relating to the proposed transaction: the risk that the transaction may not be completed in a timely manner or at all, which may adversely affect the price of LWAC’s securities; the failure to satisfy the conditions to closing the transaction, including the approval by the stockholders of LWAC and the receipt of certain governmental and regulatory approvals; the risk that some or all of LWAC’s stockholders may redeem their shares at the closing of the transaction; the effect of the announcement or pendency of the transaction on the eFFECTOR’s business relationships and business generally; the outcome of any legal proceedings that may be instituted related to the transaction; the ability to realize the anticipated benefits of the transaction; eFFECTOR may use its capital resources sooner than it expects; and the risks associated with eFFECTOR’s business set forth in the Appendix to the investor presentation filed as an exhibit to the Current Report on Form 8-K filed by LWAC discussed above. Moreover, eFFECTOR operates in a very competitive and rapidly changing environment. Because forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified and some of which are beyond LWAC’s and eFFECTOR’s control, you should not rely on these forward-looking statements as predictions of future events. The foregoing list of factors is not exclusive, and you should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of LWAC’s Annual Report on Form 10-K and other documents filed by LWAC from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and except as required by law. LWAC and eFFECTOR assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Neither LWAC nor eFFECTOR gives any assurance that either LWAC or eFFECTOR or the combined company will achieve its expectations.

Important Information for Investors and Stockholders

This press release relates to a proposed transaction between LWAC and eFFECTOR. This document does not constitute an offer to sell or exchange, or the solicitation of an offer to buy or exchange, any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, sale or exchange would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. LWAC intends to file a registration statement on Form S-4 with the SEC, which will include a document that serves as a prospectus and proxy statement of LWAC, referred to as a proxy statement/prospectus. A proxy statement/prospectus will be sent to all LWAC stockholders. LWAC also will file other documents regarding the proposed transaction with the SEC. Before making any voting decision, investors and security holders of LWAC are urged to read the registration statement, the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC in connection with the proposed transaction as they become available because they will contain important information about the proposed transaction.

Investors and security holders will be able to obtain free copies of the registration statement, the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC by LWAC through the website maintained by the SEC at www.sec.gov. Alternatively, these documents, when available, can be obtained free of charge from LWAC upon written request to Locust Walk Acquisition Corp., c/o eFFECTOR, 11120 Roselle Street, Suite A, San Diego, CA 92121, Attn: Secretary, or by calling (858) 925-8215.

Participants in the Solicitation

LWAC and eFFECTOR and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from LWAC’s stockholders in connection with the proposed transaction. A list of the names of the directors and executive officers of LWAC and information regarding their interests in the business combination will be contained in the proxy statement/prospectus when available. You may obtain free copies of these documents as described in the preceding paragraph.

This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any sale of any securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such other jurisdiction.

Contacts:

Investors:

Stephanie Carrington
Westwicke, an ICR Company
646-277-1282
Stephanie.Carrington@westwicke.com

Media:

Heidi Chokeir, Ph.D.
Canale Communications
619-203-5391
heidi.chokeir@canalecomm.com

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Latour acquires HK Instruments Oy

Latour logo
2021-05-27 08:30

Investment AB Latour (publ) has, through its subsidiary Produal Holdings, acquired HK Instruments Oy, based in Finland. Produal is part of Bemsiq AB, a group of innovative and fast-growing companies providing products in building automation and metering.

HK Instruments, with head office and manufacturing in Muurame, Finland, was founded in 1987 and offers advanced measuring devices for building automation. The company specializes in technologically advanced measuring devices for HVAC applications, including differential pressure transmitters, switches, meters for liquids, gas detection sensors, and more. Total revenues in 2020 amounted to EUR 8 m with 50 employees.

“HK Instruments is a high-quality company in terms of both people and products. We have known the company for many years and are very impressed by their accomplishment. We see great potential to continue developing the company together”, says Anselmi Immonen, CEO at Produal Oy.

“For us, Produal and Bemsiq are the perfect strategic long-term partners. Their extensive product portfolio and industry network combined with the wide distribution channel and global brand presence of HK Instruments give great opportunities for all companies. We are very keen to continue our journey together with them”, says Jukka Kalliomäki, CEO of HK Instruments.

As an effect of the acquisition the net debt (excl. IFRS 16) of the Latour Group is expected to increase compared to the net debt level at the end of March 2021, to around SEK 6.0 billion, all else equal.

The acquisition will be completed in June 2021.

Göteborg, May 27, 2021

INVESTMENT AB LATOUR (PUBL)
Johan Hjertonsson, CEO

For further information, please contact:
Mikael J Albrektsson, CEO Bemsiq AB, +46 733 23 3606
Anselmi Immonen, CEO Produal Oy, +358 509 11 80 68
Ida Saalman, Business Development Investment AB Latour, +46 727 22 8869

Bemsiq AB, with headquarters in Gothenburg, Sweden, has an annual turnover of SEK 725 m and employs about 270 persons. Bemsiq consists of a group of innovative and fast-growing companies providing products in building automation and metering and is a subsidiary of Latour Industries, which is one of five wholly-owned business areas within the Latour Group.

Investment AB Latour is a mixed investment company consisting primarily of a wholly-owned industrial operations and an investment portfolio of listed holdings in which Latour is the principal owner or one of the principal owners. The investment portfolio consists of nine substantial holdings with a market value of about SEK 79 billion. The wholly-owned industrial operations has an annual turnover of SEK 15 billion.

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Bloomerang Appoints Three New Members to its Board of Directors

JMI Equity

Additions bolster fundraising and people expertise

INDIANAPOLIS, May 27, 2021 /PRNewswire/ — Bloomerang, the donor management software provider to thousands of nonprofits, today announced the appointment of three new members to its board of directors.

Natalye Paquin and Pamela Perry have joined as Board Members. Kishshana Palmer, CFRE has joined as a Board Advisor.

“We are so excited to add voices and perspectives to the board that represent the two most valuable stakeholders to our business: professional fundraisers and our employees,” said Ross Hendrickson, CEO of Bloomerang. “Natalye and Kishshana were called to serve due to their extensive nonprofit backgrounds, and Pam to help make us a best place to work.”

Natalye Paquin currently serves as the President and Chief Executive Officer of the Points of Light Foundation, the largest nonprofit in the world dedicated to volunteerism and community service. Founded in 1990 by President George H.W. Bush as an independent, nonpartisan, nonprofit organization to encourage and empower the spirit of service, Points of Light works with affiliate organizations throughout the United States and in more than 30 countries around the world. Natalye has more than 10 years experience as a Corporate Board Director of two regional banks, and has served in senior executive roles in the public sector, including as an attorney and legal advisor.

Pamela Perry currently serves as CEO of HR Equity Inc., a strategic human resources organization focused on building value for private and venture capital-backed tech companies. An HR veteran, she previously served as Chief People Officer for automotiveMastermind Inc. and Kareo.

Kishshana Palmer, CFRE is an international speaker, trainer, and coach with a 20+ year background in fundraising, marketing, and talent management who helps leaders create high performing teams. She is the founder of The Rooted Collaborative — a global community focused on the growth and development of women leaders of color in the social sector. She’s the host of the podcast “Let’s Take This Offline”, an adjunct professor at Baruch College, a Certified Fundraising Executive (CFRE), a BoardSource Certified Governance Trainer (CGT), A Gallup Certified Strengths Coach and an AFP Master Trainer.

“By adding Natalye, Pam and Kishshana, Bloomerang now has a board that more accurately represents our customers, as well as a board that will help us better serve our customers so that they can make an even bigger impact on the world,” said Jay Love, Co-Founder of Bloomerang.

The three new members join Larry Contrella, Principal at JMI Equity, David Greenberg, General Partner at JMI Equity, Vinny Prajka, Partner at JMI Equity, Jay Love, Co-Founder of Bloomerang, and current Bloomerang CEO Ross Hendrickson.

The announcement builds on a strong year of momentum for the company. Last January Bloomerang announced their acquisition of Kindful, a nonprofit software platform known for its best-in-class third party application integrations and online fundraising tools. With a combined customer base in the tens of thousands, both the Bloomerang and Kindful products maintain stellar customer satisfaction ratings on the leading peer review websites.

About Bloomerang
Indianapolis-based Bloomerang is a cloud-based donor management software tool designed to help nonprofits reach, engage and retain the advocates they depend on to achieve their vision for a better world. For more information about Bloomerang, visit: https://bloomerang.co

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CVC Credit supports Sole Source Capital’s acquisition of Peak-Ryzex and Optical Phusion Inc.

CVC Credit will support the acquisition and organic growth strategy for the combined entity

CVC Credit (“CVC Credit”) is pleased to have provided the debt facility to support Sole Source Capital’s acquisition of Peak-Ryzex (“Peak” or “the Company”) and subsequent add-on acquisition of Optical Phusion, Inc. (“OPI”).  The companies will be merged to create an enhanced market leader in automatic identification data capture (“AIDC”) and factory automation solutions.  CVC Credit will support the growth strategy for the combined business going forward through the provision of a delayed draw term loan facility.

The combination will yield significant technological and operational synergies as well as deliver enhanced cross-selling opportunities to a broad set of clients ranging from small and medium-sized businesses to Fortune 500 companies—all seeking supply-chain logistical support. Peak Ryzex’s position will be further enhanced by OPI’s self-service kiosk, enterprise mobility and wireless technology integration expertise, which allows its clients to fulfil and finalize transactions more quickly and easily.

Headquartered in Columbia, MD, Peak-Ryzex provides critical technology that allows businesses to become more efficient and responsive. The Company is a premier value-added reseller of barcoding, data collection, and factory automation equipment, delivering innovative digital supply chain and mobile workforce solutions across North America and Europe. The Company provides knowledgeable sales and information technology expertise to customers purchasing AIDC equipment across multiple end markets including food processing/distribution, grocery, healthcare, e-commerce, industrial and manufacturing, among others.

Based in Littleton, MA, Optical Phusion is a solution provider of AIDC hardware equipment and software solutions primarily to the grocery, pharmacy and retail end markets. OPI specialises in helping customers solve business challenges and manage the entire lifecycle of supply chain solutions such as e-commerce, click and collect, interactive kiosk, personal shopping solutions, RFID, mobility, and wireless technology projects.

Juliann Larimer, Chief Executive Officer, Peak-Ryzex, commented: “CVC Credit’s support, in partnership with our new private equity sponsor, has already proven essential in getting the Optical Phusion acquisition across the line and will be equally important in the years ahead as we continue to grow the business.”

Scott Sussman, Partner, M&A at Sole Source Capital, added: “The CVC Credit team understands our operating objectives and provides a seamless and reliable partnership day in and day out. We are very pleased to have secured their support for our growth ambitions at Peak-Ryzex.”

Andrew Eversfield, Managing Director in CVC Credit’s U.S. Private Debt business, said: “Peak-Ryzex has a robust and sustainable business model and a clear strategy for growth, we are excited to be able to support the Company. This is the second Sole Source Capital platform transaction we have partnered on in the last six months and we are pleased to again have the opportunity to team up with this high-quality sponsor.”

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KKR Makes $55 Million Investment in eSSENTIAL Accessibility

KKR

May 26, 2021

Leading Digital Accessibility Platform drives Greater Inclusion of People with Disabilities

TORONTO & NEW YORK–(BUSINESS WIRE)– KKR today announced a $55 million investment in eSSENTIAL Accessibility (“eA” or the “Company”), the pioneering provider of Accessibility-as-a-Service. As the digital divide for people with disabilities expands and the number of companies facing Americans with Disabilities Act (ADA)-related litigation continues to skyrocket, eA’s digital accessibility platform addresses the growing demand for a comprehensive, sustainable solution.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210526005400/en/

“As our dependency on digital connection increases, inclusive experiences have never been more critical – a need we are laser-focused on addressing,” said Mark Steele, Co-Founder and CEO at eSSENTIAL Accessibility. “This financial and strategic support from KKR will enable us to scale our technology, processes and human expertise even faster, meeting the increasing demand for accessible online content and better supporting our customers’ commitments to disability, equality and inclusion programs.”

It is estimated there are more than 1.7 billion websites and mobile apps today, with 500,000 new websites created daily. Yet the vast majority contain barriers for individuals with disabilities, contributing to the rising number of legal claims against companies that have yet to solve this problem. eSSENTIAL Accessibility’s platform provides the tools, technology and training needed to fix accessibility from design to code, ensuring online equality against the backdrop of more than one billion people worldwide who are living with a disability.

Through a comprehensive platform of software and tech-enabled services, eSSENTIAL Accessibility is an end-to-end solution that ensures digital assets, such as websites, mobile applications, and software products, offer a seamless online user experience for individuals with disabilities. This helps organizations achieve and maintain compliance with applicable regulatory requirements through conformance with the Web Content Accessibility Guidelines (WCAG).

“eSSENTIAL Accessibility provides companies with a complete platform of technology capabilities, user experience design and DevOps integrations, subject matter experts, legal guidance and training, helping them become truly accessible to people with disabilities,” said Ben Pederson, Principal at KKR.

Jake Heller, Head of KKR’s Technology Growth team in the Americas, added: “We are thrilled to be investing in eA and look forward to leveraging KKR’s network and resources to support the company’s growth and expansion.”

KKR is making its investment through its Next Generation Technology Growth Fund II, a global fund dedicated to growth equity investments in the technology space.

About eSSENTIAL Accessibility

eSSENTIAL Accessibility is the smarter way to digital accessibility and legal compliance. As the leading Accessibility-as-a-Service platform, it enables brands to empower people by helping them deliver inclusive web, mobile, and product experiences that comply with global regulations and ensure that people of all abilities have equal access. Learn more at www.essentialaccessibility.com.

About KKR

KKR is a leading global investment firm that offers alternative asset management and capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of The Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

Media
For eSSENTIAL Accessibility:
Ian Lowe
(705) 796-6494
ilowe@essentialaccessibility.com

For KKR:
Cara Major or Miles Radcliffe-Trenner
(212) 750-8300
media@kkr.com

Source: KKR

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British artificial intelligence company Faculty raises £30m of growth funding to deliver “AI as a Service” globally

Apax Digital

Faculty, a leading British artificial intelligence (AI) company, today announced that it has raised £30m in growth funding from the Apax Digital Fund (“ADF”). It is the largest investment Faculty has accepted to date, and brings total investment to nearly £40m.

The funding will be used to drive the expansion of Faculty’s pioneering “AI as a Service” model. From helping companies optimise marketing spend and more accurately forecasting demand for consumer goods, to predicting pressures on the healthcare system during a pandemic, Faculty’s “AI as a Service” model can be applied to a broad range of problems for both public and private sector organisations. It enables customers to customise powerful AI solutions to their needs, with the ongoing training and support that guarantees safe and high-performance AI over the long term.

The investment will support the next phase of the company’s growth over the coming years. In delivering its vision for “AI as a Service”, Faculty will continue to enhance its technology offering and expects to create over 400 new jobs across its engineering, product and delivery teams. The investment will also be put towards the rollout of Faculty’s new learning and development programme that will sit at the centre of the business to help develop technical and commercial talent as the company scales.

Marc Warner, CEO & Co-Founder of Faculty, said:

“It’s an incredibly exciting time for artificial intelligence, and for Faculty in particular. Too many organisations haven’t been able to realise the value of AI, because they haven’t had the tools to integrate it successfully into their business. Customers are rightly demanding high performance technology to unlock the power of data and maximise impact. Faculty can help elevate an organisation’s performance, whether this enables better operational decisions, or increasing ROI. Apax’s expertise and global network means we will continue to grow at pace, bringing the power of AI to even more customers, helping them to make effective, robust decisions with real-world impact.”

The funding will also accelerate Faculty’s international expansion. The company is already working across five continents and is seeing growing global customer demand for its safe and customised AI solutions.

Founded in 2014 by Dr Marc Warner, Dr Angie Ma and Andrew Brookes, Faculty has grown rapidly to become one of the world’s most experienced teams of AI and ML specialists, able to support any organisation to make AI effective and drive value. The company has a specialist team that includes over 50+ PhDs with experience of working with over 230 customers across the globe.

Faculty has sustained strong growth during the COVID-19 pandemic, winning 52 new customers in the last financial year including the National Crime Agency, Red Bull, Virgin Media, Moonpig, and a two-year partnership with NHS England and NHS Improvement to help them to build forecasting capabilities and improve data-driven decision-making. The company recently made headlines for its critical work enabling the NHS to divert resources to areas worst affected by the pandemic ahead of time.

Mark Beith, Partner at Apax Digital, who joins Faculty’s board of directors, said:

“Faculty is a world-leading AI company with cutting-edge technology, inspiring people and culture, and with phenomenal customer feedback. They enable customers to realise the tremendous value of AI quickly but responsibly, providing robust, fair and explainable AI, with advanced data privacy. We have seen the power and impact of their solutions first-hand, as a client, and are thrilled to partner with Marc, Angie, Andy and the team to support their global expansion.”

The Apax Digital Fund joins Faculty’s existing investors, including GMG Ventures LP, LocalGlobe, and Jaan Tallinn, one of Skype’s founding engineers.

About Faculty

Faculty is a leading British AI company that helps organisations who have the scale, data, and foresight to adopt AI into their business. We’re helping make AI real across society by providing a unique combination of strategy, software, and skills to our customers: everything needed to successfully create value from AI. Founder-led and with over 50 PhDs, we are a team of specialists that has worked with over 230 organisations to make AI real.

Faculty is headquartered in London and is backed by investors that include GMG Ventures LP, LocalGlobe and Jaan Tallinn, one of Skype’s founding engineers. Faculty is one of the fastest growing private British technology companies and is recognised for its sales growth in The Sunday Times 2020 Tech Track 100 list.

About Apax and Apax Digital

The Apax Digital Fund, which is advised by Apax Partners LLP (“Apax”) specializes in growth equity and buyout investments in high-growth enterprise software, consumer internet, and technology-enabled services companies worldwide.

The Apax Digital team leverages Apax’s deep tech investing expertise, global platform, and specialized operating experts, to enable technology companies and their management teams to accelerate the achievement of their full potential. For further information, please visit: apaxdigital.com.

Apax is a leading global private equity advisory firm. For nearly 50 years, Apax has worked to inspire growth and ideas that transform businesses. The firm has raised and advised funds with aggregate commitments of more than $60 billion. The Apax Funds invest in companies across four global sectors of Tech, Services, Healthcare and Internet/Consumer. These funds provide long-term equity financing to build and strengthen world-class companies. For more information see: apax.com.

Company

Faculty

Global media contact

Katarina Sallerfors

t: +44 20 7872 6300

Luke Charalambous

t: +44 20 7872 6300

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Mentha Capital expands in occupational health and safety services through its acquisition of ENRGY

Mentha

Investor Mentha Capital has acquired the shares of ENRGY in Business Group. At the start of 2020, Mentha established its position in the market with a majority stake in paraDIGMA Groep. Both companies, operating in the field of absenteeism and sustainable employability, will continue to operate under their own brand name, services, organisation and locations. The transaction is subject to the approval of the Dutch Healthcare Authority (NZa).

ENRGY is a fast-growing health and safety service, and with 200 professionals, helps its clients as a strategic and executive partner in structurally reducing absenteeism. In its services, ENRGY places a strong emphasis on the variables that determine sustainable work ability, summarised in The House of Work Ability. The founders and directors Marcel Houtman, Hidde Froentjes and Martijn ten Bokum will remain actively operationally involved and become co-shareholders in the Group Holding over ENRGY and paraDIGMA.

Marcel Houtman, ENRGY: “We are very pleased to have taken this step. Mentha can properly support us in continuing our growth and innovation ambitions, while our strong culture and vision is maintained. This enables us to build on our ultimate dream to allow the entire working Netherlands to take control of work capacity, with reduced absenteeism and increased job satisfaction as the goal. We believe that with the attractive propositions, knowledge and expertise of both companies, we are creating a powerhouse of innovation, in order to be able to respond to the rapidly changing market and to enhance the service we provide to our customers and clients.”

paraDIGMA Groep is a distinctive group of companies operating in the field of sustainable employability, active through a nationwide network and more than 600 employees. The Working Conditions Service division (De Arbodienst) is an occupational health and safety service provider with an unconventional view on absenteeism, which leads to progressive and highly effective absenteeism and health policies within organisations. The other components offer, among other things, psychological interventions, outplacement and reintegration, work-related research and advice, and company training. The company was founded in 2003 by Rudo Vissers, who is still active as managing director of paraDIGMA Groep and co-shareholder of the group holding.

Rudo Vissers, paraDIGMA Groep: “We are impressed by the solid position which ENRGY has attained in the market in recent years. From their own unique approach, ENERGY and paraDIGMA share a common vision on the subject of work and health. Both companies realise the great importance of culture and leadership in organisations in increasing employability and structurally reducing absenteeism, and proritise a high-quality medical basis and personal attention for clients.”

Mentha Capital invests in established, profitable companies which demonstrate clear potential for further expansion through organic growth, expansion into new markets and/or acquisitions. Mentha has 15 participating interests, active in various end markets.

Barend Rutten, Mentha Capital: “We are pleased to enter into a partnership with ENRGY. Sustainable employabiity is an increasingly important theme for companies and society at large. The market is in full swing and provides many opportunities. Mentha is happy to assist both companies in fulfilling their organic and acquisitive growth ambitions.”

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Climate intelligence startup Cervest snaps up $30m in Series A funding

Cervest has raised $30m in a Series A funding round to expand its AI-powered climate intelligence platform into the US and European markets.

The startup’s platform provides a model for assessing climate risk, such as flooding and forest fires, to a physical asset.

Cervest claims its EarthScan product can give enterprises and governments climate insights on areas the size of a building going forward 80 years to help manage assets or inform construction decisions.

The Series A brings Cervest’s total funding to $36.2m. Draper Esprit led the financing round and was joined by existing investors Astanor Ventures, Lowercarbon Capital and Future Positive Capital.

New investors in the oversubscribed round include the venture fund of Salesforce CEO Marc Benioff, TIME Ventures, along with UNTITLED, the venture fund of Magnus Rausing, heir to the Tetra Pak fortune.

Cervest’s platform is available via a freemium model in which anyone can access basic climate intelligent features. Paying customers such as consultancy firms, insurers and policymakers have access to more granular data and more frequent updates. Its data is gathered from public and private sources.

“Climate Intelligence is business Intelligence for managing climate risk,” said Iggy Bassi, founder and CEO of Cervest. “Climate volatility has thrown us into a new era where Climate Intelligence needs to be integrated into all decisions. Organizations that fail to do so risk being blindsided by climate events such as the recent floods and fires in Australia, the droughts in Europe, and the winter freeze in Texas.”

Bassi founded Cervest in 2016 after unpredictable strong winds flattened a $6m mill and flash floods destroyed an entire season’s crops on his sustainable farm in Ghana, West Africa. The lack of reliable climate data turned him to AI. The startup brought in data scientists from Imperial College London to solve the complex mathematical problem of marrying fragmented data.

“What we realised [is that] somebody needs to fuse together all these world scientists on a single platform, which meant a huge amount of data engineering,” Bassi told Verdict Magazine in an interview last year. “And underpinning that is a huge amount of domain knowledge, particularly around physical sciences.”

A handful of other startups, such as Tractable, have turned to AI to provide climate risk solutions. But Bassi believes his platform’s ability to look at climate risk as “collective whole” sets his company apart.

“Climate Tech has grabbed a lot of attention recently, with good reason. But solutions come from understanding the problem – Climate Intelligence is a new $40 billion market category which seeks to provide us with answers,” said Vinoth Jayakumar, partner and fintech practice lead at Draper Esprit.

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