Austin's FlashParking to merge with Chicago-based Arrive
Austin-based FlashParking, which develops technology for managing parking lots, is merging with Arrive Inc., a Chicago-based online platform that lets drivers find and book parking spaces. Financial terms of the deal were not disclosed. FlashParking CEO Dan Sharplin said the coronavirus pandemic has increased demand for digitized and touchless alternatives to traditional parking. "We have seen first-hand the devastating effects of the pandemic on the parking industry," Sharplin said. "A key component to recovery is deployment of cloud-based, future-ready technologies that allow owners and oper...
Ford's 'pivotal' deal with Mahindra goes kaput, adding twist to financials
A cost-cutting deal called "pivotal" by Ford in 2019 has gone kaput, the automaker announced just after the stock market closed on New Year's Eve. It was a quiet but dramatic turn of events for Ford that potentially carries financial consequences in 2021 and throws into question Ford operations in India. Ford loses money in all markets in the world except North America. The Dearborn, Mich., automaker and powerhouse vehicle maker Mahindra & Mahindra have "mutually and amicably determined they will not complete a previously announced automotive joint venture between their respective companies." ...
Detroit Free Press
Fiat Chrysler, Peugeot-maker PSA Group set shareholder meetings to approve merger
Shareholders for Fiat Chrysler Automobiles and Peugeot-maker PSA Group are to meet in January to decide whether to approve the proposed merger between the two companies.The companies announced Wednesday they would hold general meetings for their respective shareholders on Jan. 4 “in order to approve the merger of their companies to allow the creation of Stellantis, which will become the world’s fourth largest automobile manufacturer by volume.”Leaders of the companies have previously said they aim to complete the merger by the end of the first quarter.Regulatory approvals have been moving forw...
Detroit Free Press
Rawlings to buy Easton, create baseball and softball giant
TOWN AND COUNTRY, Mo. — Rawlings Sporting Goods Inc. announced on Tuesday it has agreed to buy Easton Diamond Sports, a merger of two of the country’s top softball and baseball sporting goods companies.The companies said the purchase will strengthen both brands, drive product innovation, allow for larger investments, grow talent, and expand customization options for players.“The Easton and Rawlings brands complement each other exceptionally well and will deliver an improved value proposition to all stakeholders, including teams, players, coaches, dealers and associations throughout the industr...
St. Louis Post-Dispatch