Senior Connect Acquisition a publicly traded special purpose acquisition company, has announced that it has entered into a non-binding letter of intent ("LOI") for a business combination with Avellino Lab USA, Inc. ("Avellino"). Avellino, a leader in precision medicine, is making a global impact in genetics and bringing innovative diagnostics, therapies, and AI-driven data processing to patient care. Recommended AI: How is Artificial Intelligence (AI) Changing the Future of Architecture? Under the terms of the LOI, the Company and Avellino would become a combined entity, with Avellino's existing equityholders exchanging their shares in Avellino for equity in the combined public company. The Company expects to announce additional details regarding the proposed business combination when a definitive agreement is executed, which is expected early in the first quarter of 2023.

Simfoni, the next-generation digital solutions provider for procurement intelligence, eSourcing and tail spend management, announced that it has acquired Michigan-based Xeeva, a fellow leader in AI-powered spend management and procurement technology solutions. This will be Simfoni's second strategic acquisition in 2022, as the company continues to leverage synergistic opportunities to deepen its solution and support competencies, accelerate growth, and solidify market dominance in indirect (tail spend) management and AI-driven spend analytics and eSourcing solutions. This acquisition marks another significant milestone for Simfoni whose goal is to deliver best-in-class, composable, spend management solutions on a global scale. Over the last year, Simfoni has been the recipient of a litany of industry awards and acknowledgements which have further strengthened its global positioning as a recognized market leader in tail spend management. It is anticipated that this latest acquisition will fortify Simfoni's place as one of the top 10 procurement technology providers, globally. Simfoni's innovative Composable Procurement approach combined with its deep domain expertise has collectively provided the company with a competitive edge as procurement teams look outside traditional solutions to achieve superior spend visibility and automation.

The company’s exposure to secular growth trends in the end-markets of 5G, artificial intelligence/machine learning, Internet of Things (IoT), …

NextGen Healthcare, a leading provider of innovative cloud-based healthcare technology solutions, announced it has signed a definitive agreement to acquire TSI Healthcare, a privately held value-added reseller located in Chapel Hill, NC. The acquisition shall be deemed effective 11:59 p.m. on November 30, 2022. The consideration is comprised of an upfront amount of $68 million, which will be paid in cash with contingent consideration of up to $22 million in cash in the form of an earnout, subject to achieving certain financial targets through March 31, 2025. The acquisition is expected to contribute approximately $10 to 12 million of revenue in the remaining four months of fiscal 2023 and will be accretive to adjusted EBITDA and cash flow within a year. The company plans to update guidance when it reports its fiscal 2023 third quarter results.

Cogent Growth Partners (CGP), the leading buy-side intermediary for IT Services mergers and acquisitions, announced that it advised rockITdata in their recent strategic acquisition of Pharos Group, Inc. "Alignment of cultures and fit of the opportunity are two of the most important factors needed to assure M&A success," said George Sierchio, Executive Vice President and Senior Partner, Cogent Growth Partners. "rockITdata and Pharos Group share vast federal government market expertise and a very similar cultural with both companies being designated as Service-Disabled Veteran-Owned Small Businesses, which, when combined with rockITdata's deep AI and ML-enabled technology, should position them well for their business objectives surrounding revolutionary changes in this technology landscape." Recommended AI: "Bitcoin Has No Intrinsic Value". Then What Gives Bitcoin Value? Founded in 2019, rockITdata has rapidly ascended the cloud integration market, becoming an AWS Advanced Tier Partner and Public Sector Service Provider.

Investors and analysts are starting to push beyond the hype about artificial intelligence and ask more questions about AI software companies' near-term growth prospects. Professional service and software providers including Palantir Technologies Inc., C3.ai Inc. and Veritone Inc. market themselves as AI companies with high growth potential, offering services to enhance enterprise analytical capabilities in sectors like cybersecurity and telecommunications. But amid a tech market downturn, these companies are struggling to convince Wall Street they can withstand the pressures of a weakened macroeconomic environment. "We believe chunky data analytics projects are more likely to be put on hold in a weaker growth environment," Goldman Sachs analysts said in a Nov. 8 note following Palantir's third-quarter 2022 earnings call. All three stocks have been hard-hit amid the broader sell-off in tech stocks in 2022, with Palantir and C3.ai both down about 59% year-to-date as of Nov. 23.

Significant increase in Q3 net income of over $961K, up 464% compared to the previous year. During the nine months ended September 30, 2022, the Company repurchased 17,807,500 common shares of the Company for $2,040,350. Toronto, Canada, November 22, 2022 – Datametrex AI Limited (the "Company" or "Datametrex'') (TSXV: DM) (FSE: D4G) (OTCQB: DTMXF) is pleased to report its financial results for the third quarter. The Company has filed its financial statements ("FS") on SEDAR and related management discussion and analysis ("MD&A") for the quarterly results ending September 30, 2022 ("Q3 2022"). For the three months ended September 30, 2022 (Q3-2022), the Company reported revenue of $9,202,894, net income of $961,922 and EBITDA of $2,699,239. For the nine months ended September 30, 2022 (Q3-YTD), revenue was $27,544,338, net income of $2,791,511, and EBITDA of $5,965,145. The Company continues to hold a strong cash and marketable securities position of approximately $13 million after ...

An executive of Baidu Inc., the Chinese search-engine giant and major artificial-intelligence company, shrugged off new U.S. export restrictions on advanced semiconductors designed to slow China's military advance. Baidu's Executive Vice President Dou Shen said in an earnings call with analysts on Tuesday the U.S. export controls would have limited short-term impact on the company, and he believes its AI businesses would benefit from the new rules in the long run. In October, the U.S. Commerce Department rolled out new restrictions on advanced chip technology, which require a license for U.S. companies to export cutting-edge chips used for AI and supercomputing and chip-making equipment key to China's technological goals. The move vastly expanded on existing rules restricting the export of advanced technologies to China. Mr. Shen said that a large portion of Baidu's AI and cloud-computing businesses don't rely heavily on advanced chips and that the Beijing-based company had stocked enough high-end chips for its businesses that need them.

Nov 22 (Reuters) - Baidu Inc's (9988.HK) third-quarter revenue beat Wall Street estimates on Tuesday, as China's search engine giant benefited from a recovery in online advertising sales and growth in its cloud and artificial intelligence (AI) business. Baidu, which generates most of its revenue from ads on its search engine, has seen a recovery since the second quarter, before which strict zero-COVID policies in China had led to frequent lockdowns that undermined economic activity. Baidu's revenue rose 2% to 32.54 billion yuan ($4.56 billion) in the three months to Sept. 30, beating the 31.79 billion yuan average estimate of 20 analysts, according to Refinitiv data. Baidu Core's non-online marketing revenue, an area including cloud and other AI businesses, grew by 25% year on year to 6.5 billion yuan. The company has been focusing on self-driving technologies over the past five years, as it looks to diversify its revenue sources.

Chinese internet giant Baidu reported on Tuesday third-quarter revenues of 32.5 billion yuan ($4.6 billion), representing a year-on-year increase of 2 percent. Its earnings report showed Baidu posted a net loss of 146 million yuan for the three months through September as it reined in costs and trimmed back far deeper losses from the equivalent quarter last year. Chinese technology majors have struggled in recent months amid an economic slowdown, Covid-19 curbs that have hammered consumer sentiment, and tighter regulatory scrutiny. Earnings reports from internet titans, including Alibaba and JD.com, have presented a mixed picture in recent weeks. "Baidu Core delivered a solid set of financial and operational results in the third quarter, despite the continued challenges posed by the Covid-19 resurgence," said CEO Robin Li.