In case you missed the news cycle at the end of last week and over the weekend, we’ve gathered the stories that you’ll want to digest before you kick off your work week.
First, Google buys iOs video app maker Fly Labs. This signals yet another investment into the Google Photos team. Fly Labs will join this division in Mountain View. Last month, Google announced that Google Photos had garnered more than 100 million monthly active users. Details of the deal have not yet been made public.
“Google Photos is a home for your life’s memories, powered by Google’s machine learning and computer vision technology,” said the team from Fly Labs in a public statement on their website. “It’s a perfect match for what we built at Fly Labs, and we’re looking forward to folding our technology into Google Photos.”
Google isn’t the only major company to acquire a video-related startup. Alibaba has completed their acquisition of Youku Todou, often called “China’s YouTube,” in an all cash deal worth $3.7 billion. Alibaba first invested in the company in 2014, buying an 18% stake. Youku Todou claims to have more than 580 million monthly users. Alibaba plans to take the company private after the acquisition.
“We are confident that we will strengthen our market position and further accelerate our growth through the integration of our advertising and consumer businesses with Alibaba’s platform and Alipay services,” Victor Koo, chairman and CEO of Youku Tudou, said in a statement.
Agricultural giant Deere & Co. will purchase Monsanto‘s Precision Planting LLC equipment unit, marking the third acquisition of planting equipment in a month. The purchase is expected to close in 60 to 90 days. Financial details of the deal have not yet been made public.
Biotech company Novozymes received an award from Science Magazine last week. The magazine named the company the world’s best science employer. The survey polled employees in the biotechnology, pharmaceutical, and related industries to determine the 20 best employers globally. Companies were rated on whether they were an innovative leader in the industry, how they treated employees, and their socially responsible initiatives.
DSM and Syngenta announced an R&D partnership on Friday. The partnership aims to develop microbial-based agricultural solutions, including bio-controls, bio-pesticides, and bio-stimulants. According to a press release issued by the companies, the companies aim to jointly commercialize solutions from their discovery platform.
Piedmont Natural Gas CEO Tom Skains will retire once the deal with Duke Energy is complete, said the company on Friday.
“I am making this personal decision now to help make sure we move forward with the transition and allow the Duke and Piedmont management teams to make important long-term leadership, organizational and integration decisions for the new Piedmont Natural Gas operations subsidiary of Duke Energy,” said Skains in a statement.
