 Aptiv and Wind River Aptiv PLC acquired Wind River from private equity firm TPG Capital for $4.3B in cash. The acquisition will enable the auto parts manufacturer to develop advanced software systems and will integrate Wind River’s automotive software into its Smart Vehicle Architecture platform. More: - Wind River, formerly owned by Intel Corp., develops software and cloud systems that have been deployed across 2 billion devices for over 1,700 global customers in the automotive, aerospace, defense, industrial, medical, and telecommunications industries.
- The software firm’s 2021 revenue was ~$400M.
- Although Wind River and Aptiv will synergize their automotive industry technologies, the acquired firm will still function as a stand-alone unit and continue to focus on its growth in existing sectors.
- Aptiv, which has Stellantis NV, Volkswagen AG, and General Motors Co. as its clients, is on track to generate between $15.1B and $15.5B in 2021 revenues.
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 Tesla Tesla Inc. plans to source 75,000 tons of nickel concentrate from Talon Metals Corp.’s Tamarack mine in Minnesota over six years. This is Tesla’s first U.S. nickel supply deal, and the company chose Talon Metals due to its plans to use sustainable methods to mine nickel while ensuring carbon dioxide is bound to rocks rather than let out in the atmosphere. More: - The mining technology is still being tested, and if successful, would effectively provide a carbon-neutral source of nickel.
- In addition to the nickel concentrate, Tesla will also purchase cobalt and iron ore at London Metals Exchange-listed prices.
- Talon’s Minnesota project, a joint venture with Rio Tinto slated to open by 2026, will shorten the supply chain of minerals for Tesla, although the automaker will have to find a solution for refining nickel as currently there are no such refineries in the U.S.
- Tesla had signed deals with BHP last year for sourcing nickel through its Australia and New Caledonia mines.
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 A message from TRANSCEND Have you solved offering in-app account deletion functionality for iOS? Here’s a fast way to beat that ticking clock. A change announced at Apple’s 2021 Worldwide Developers conference means any app in Apple’s App Store that allows for user account creation must also provide a pathway for account deletion. Companies that don’t comply with this guideline by January 31, 2021 risk blocked updates and even potential removal from the app store. Transcend, the privacy platform company that makes privacy easy, has a free comprehensive guide to outline: - What exactly the new Apple guideline requires
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Supermarket chain Albertsons announced Q3 revenue of $16.73B, beating analysts' expectations of $16.06B, during its latest earnings call. Revenue has increased 8.6% YoY. More: - The company reported EPS at 79 cents, beating expectations of 59 cents per share by 33.52%.
- Albertsons' revenue reported for Q2 was $16.51B and for Q1 was $21.27B.
- The company now forecasts fiscal year-adjusted earnings per share to range between $2.90-$2.95 for the year ending in February.
- Earlier guidance ranged from $2.50-$2.60.
- Same-store sales, not accounting for store openings and closures, were up 5.2%, buoyed by increased foot traffic in in-store pharmacies for COVID-19 vaccinations and over-the-counter tests.
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 Bolt's range of services Bolt, the Estonia-based ride-hailing app, raised $711M in new funding led by Sequoia Capital and Fidelity at an $8.4B valuation. The mobility platform provides a range of transportation options, including electric scooters and car-sharing, and has also expanded into online food and grocery delivery. More: - Bolt, which started as a taxi-hailing app formerly known as Taxify, has expanded operations into London and Paris and has a presence in over 400 cities across 45 countries across Europe and Africa.
- The mobility platform’s customer base has increased to 100 million customers, up from 75 million customers in August.
- The incoming funds will be utilized to expand operations into new regions, increase its customer base, and introduce newer lines of business such as Bolt Market, a 15-minute grocery delivery option.
- Bolt, then valued at $4.8B (€4B), secured $713M (€600M) in Series E funding led by Sequoia in Aug. 2021.
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 A message from LOHIKA Learn Why Web3 Matters to Your Business. Web3 is the next evolution of the Internet. If Web 2.0 was about user-generated content and social media platforms, Web3 is about decentralized services powered by the blockchain. Smart contracts and NFTs are Web3 technologies that run on the blockchain. Lohika is hosting an online event with our friends from Refresh Miami. We gathered a panel of Web3 experts that will explain what blockchain, smart contracts and NFTs are, then discuss related business opportunities in the present and future. The panel: Join us on January 26, 2022 at 10am PT / 1pm ET. Register Here
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 Ken Griffin Venture capital firms Sequoia Capital and Paradigm have purchased $1.15B worth of Ken Griffin’s stake in Citadel Securities, marking a first outside investment in the firm. Citadel Securities was founded by the Hedge fund billionaire in 2001 and is estimated to handle ~27% of all U.S. equity trading. More: - The current transaction values the firm, which has over 1,600 clients, at $22B.
- Citadel Securities, which already has a presence in over 50 nations, plans to use the incoming funds to fuel aggressive expansion into new markets and asset classes, including crypto.
- Ken Griffin’s 85% stake in Citadel Securities is estimated to be worth $18B.
- Griffin’s other hedge fund, Citadel, founded in 1990, has over $43B in assets under management.
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The union representing 8,700 of Kroger’s King Soopers employees are expected to go on a three-week strike from Wednesday after negotiations between the company and the union failed. The union is calling the strike to seek better contracts but currently faces unfair practice charges brought on by King Soopers, accusing the union of refusing to negotiate in good faith. More: - The grocery chain, which operates over 100 stores in Colorado, had offered a deal worth $145M in new wages over the next four years and later revised the same, bringing the total up to $148M in addition to signing bonuses over three years.
- As part of the original offer, the company also offered to increase wages for 75% of employees to over $18 per hour and for 50% to over $20 per hour.
- The union allegedly refused the offer.
- Last month, the union filed a lawsuit against King Soopers for hiring third-party workers at wages of $16 per hour, more than the wages of many unionized workers, thereby violating an agreement.
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- Planet Fitness will acquire its franchisee operator Sunshine Fitness, which operates over 100 fitness clubs, for $800M in a cash and stock deal.
- California Gov. Gavin Newsom presented his $286.4B state budget proposal, which includes a provision of $6.1B for EV-related initiatives as the state takes definitive steps toward banning sales of gas-powered vehicles by 2035.
- The European Commission is preparing to use its veto to stop the $2B merger between South Korea-based LNG ship manufacturing companies Daewoo Shipbuilding & Marine Engineering and Hyundai Heavy Industries, citing anti-competitive concerns.
- Canadian telecom Rogers Communications Inc. announced the appointment of its current interim CEO, Tony Staffieri, as the president and CEO of the company.
- Back Market, a Paris-based online marketplace for refurbished phones and laptops, raised $510M in funding led by Sprints Capital, valuing the company at $5.7B.
- Czech Republic-based automaker Skoda Auto, a subsidiary of Volkswagen Group, reported a 12.6% YoY drop in car sales to 878,200 units in 2021, after witnessing a drop of 58.8% in deliveries in China.
- GoStudent, a Vienna-based global platform for K12 education, raised $340M in Series D led by Prosus, increasing the company’s valuation to $3.5B.
- The Indian government may own a 35.8% stake in telecom company Vodafone-Idea as the merged entity’s board approved plans to convert the interest owed to the government into equity.
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 |  | Karan Chafekar is a Management Consultant, Business enthusiast, and Licensed Pilot. | | | | Editor | Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 Ford. | |
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