Square to acquire Weebly for $365M

Square has entered into a definitive agreement to acquire Weebly for $365 million. Weebly is a San Francisco–based technology company that lets customers build websites and online stores.

Weebly has millions of customers and more than 625,000 paid subscribers, according to the companies. Nearly 40% of Weebly’s paid subscribers are outside the U.S.

The transaction is subject to customary closing conditions including regulatory approvals, and is expected to close during the second quarter of 2018. Until close the two companies will continue to operate independently.

Square was advised by Wilson Sonsini Goodrich & Rosati and Weebly was advised by Cooley and Qatalyst Partners.

[Image courtesy: Weebly]

Just in

AlphaSense raises $650M

AlphaSense, a market intelligence and search platform, has raised $650 million in funding, co-led by Viking Global Investors and BDT & MSD Partners.

Elon Musk’s xAI raises $6B to take on OpenAI — VentureBeat

Confirming reports from April, the series B investment comes from the participation of multiple known venture capital firms and investors, including Valor Equity Partners, Vy Capital, Andreessen Horowitz (A16z), Sequoia Capital, Fidelity Management & Research Company, Prince Alwaleed Bin Talal and Kingdom Holding, writes Shubham Sharma. 

Capgemini partners with DARPA to explore quantum computing for carbon capture

Capgemini Government Solutions has launched a new initiative with the Defense Advanced Research Projects Agency (DARPA) to investigate quantum computing's potential in carbon capture.

Snowflake to acquire TruEra AI observability platform

Snowflake has entered into a definitive agreement to acquire TruEra, providers of an AI observability platform. Financial terms of the transaction were not disclosed.