Latest news with #NirajPatel
Yahoo
10-07-2025
- Business
- Yahoo
Autodesk Weighs Takeover of Engineering Software Firm PTC
(Bloomberg) -- Autodesk Inc. is weighing an acquisition of rival engineering-software provider PTC Inc., according to people familiar with the matter. Singer Akon's Failed Futuristic City in Senegal Ends Up a $1 Billion Resort Are Tourists Ruining Europe? How Locals Are Pushing Back Can Americans Just Stop Building New Highways? Why Did Cars Get So Hard to See Out Of? Denver City Hall Takes a Page From NASA Autodesk has been working with advisers to evaluate a cash-and-stock deal for Boston-based PTC, said the people, who asked to not be identified because the matter isn't public. PTC, with a market value of about $23 billion, is also drawing interest from other industry players, the people said. No final decision has been made and Autodesk could opt against pursuing a deal for PTC, the people added. A representative for PTC declined to comment. A representative for Autodesk couldn't be reached for comment. The deal comes against a backdrop of steady consolidation in the industrial software space, where demand is expected to grow with the increased adoption of artificial intelligence. Siemens AG agreed last year to buy software maker Altair Engineering Inc. for an enterprise value of $10 billion, while Synopsys Inc. agreed to buy software developer Ansys Inc. for about $34 billion in a deal that is still awaiting approval from antitrust regulators in China. 'Autodesk's reported interest in manufacturing-software rival PTC is likely driven by a need for scale — a critical factor for maintaining profitability and keeping up with market leaders Dassault Systèmes and Siemens-Altair,' Bloomberg Intelligence analysts Niraj Patel and Maria Beltran said in a research note Thursday. This deal would give Autodesk a 17% share of the $19 billion manufacturing-software market, which would likely not run up against antitrust regulations, they said in a separate note Wednesday. PTC, which rose as much as 19% on the news on Wednesday, fell 7.4% at 10:35 a.m. in New York trading Thursday. Autodesk fell 6.9%, giving it a market value of about $61 billion. Founded in the 1980s, PTC's software helps manufacturers design complex products, including planes, computers and medical devices, according to its website. The company, which used to count Rockwell Automation Inc. as a longtime investor, did a deal of its own in 2023 to buy ServiceMax for $1.46 billion from Silver Lake. That deal brought on current Chief Executive Officer Neil Barua, who replaced James Heppelmann last year. Activist investor Starboard Value built a stake in Autodesk earlier this year and has pushed for changes to the board because of concerns about the software company's performance and how it handled an accounting probe. Autodesk makes industrial design and operation software, serving industries including architecture, construction and manufacturing. Analysts at Stifel Financial Corp. said in a research note that it was questionable whether Starboard would support a takeover of PTC, and there are questions of what the potential revenue opportunities and expensive savings would be. (Updates with analyst comment in fifth and last paragraphs, updates trading in seventh paragraph.) Will Trade War Make South India the Next Manufacturing Hub? 'Our Goal Is to Get Their Money': Inside a Firm Charged With Scamming Writers for Millions Trump's Cuts Are Making Federal Data Disappear 'Telecom Is the New Tequila': Behind the Celebrity Wireless Boom SNAP Cuts in Big Tax Bill Will Hit a Lot of Trump Voters Too ©2025 Bloomberg L.P.
Bloomberg
03-07-2025
- Business
- Bloomberg
Upwork Rides the Wave of Freelancers and Talent Demand: Tech Disruptors
Helping knowledge workers and businesses connect in a work marketplace is Upwork's central mission. A new wave of knowledge workers, freelancers, are disrupting the typical hiring channels, presenting businesses to fill talent gaps as well as expand their work opportunities. CEO and President Hayden Brown outlines the company's product suite, approach to over 830,000 customers and the changing dynamics of work. In this Tech Disruptors podcast episode, BI Analyst Niraj Patel sits down with Brown to discuss Upworks' core offering, investments for the enterprise segment and Upwork's recently launched AI agent, UMA. Listen in to hear about the movement of global freelancers which numbers over 250,000 globally, the sea changes underway in filling the AI talent demand.
Yahoo
15-05-2025
- Automotive
- Yahoo
Turo and Uber bring peer-to-peer car sharing to Uber Rent
Uber customers throughout the U.S. can now rent an extraordinary selection of Turo vehicles directly through the Uber platform SAN FRANCISCO, May 15, 2025 /PRNewswire/ -- Turo, the world's largest peer-to-peer car sharing marketplace, and Uber Technologies, Inc. (NYSE: UBER) announced today that Turo vehicles are now available to rent through the Uber app in the United States. This marks the U.S. debut of the integration between Turo and Uber Rent, enabling travelers to access Turo's unique and diverse selection of vehicles within Uber's ecosystem. Reinforcing the joint commitment to modernizing access to vehicles and reducing dependence on traditional car ownership, Uber Rent users across the country can now browse and book from Turo's extraordinary selection of vehicles, including more than 1,600 makes and models, seamlessly within the Uber app, unlocking more personalized and flexible rental options. "Our partnership with Uber is rooted in a shared vision to unlock better car access for everyone," said Turo Vice President, Business and Corporate Development, Andro Vrdoljak. "Now, customers are able to access tens of thousands of Turo vehicles on Uber Rent in the U.S., making it even easier for travelers to find the perfect car for their needs, whether it's a rugged SUV or an EV, while further advancing our mission to put the world's 1.5 billion cars to better use." The new integration allows Uber users to discover and reserve Turo cars directly in the Uber app.* Guests are prompted to download the Turo app ahead of their trip to manage details like pickup, communication with the host, and trip logistics, ensuring a seamless in-app experience powered by Turo's trusted host network and robust safety standards. "We're excited to bring the Turo experience to Uber Rent in the U.S.," said Niraj Patel, Global Head of Consumer Vehicles at Uber. "Offering our customers carsharing options directly in the Uber app is an important step as we expand the ways that people move—whether they're staying local or heading out of town—with the reliability and ease they expect from Uber." Planning a getaway? Starting this summer, members can earn 10% Uber One credits on Uber Rent bookings, including on Turo. *Excluding Oregon, New York, and Washington About TuroTuro is the world's largest car sharing marketplace, where you can rent the perfect car for wherever you're going from a vibrant community of trusted hosts across the US, UK, Canada, Australia, and France. Flying in from afar or looking for a car down the street, searching for a rugged truck or something smooth and swanky, you can skip the rental car counter and choose from an extraordinary, totally unique selection of nearby vehicles shared by local hosts. Entrepreneurs can take the wheel of their futures by becoming hosts and building car sharing businesses on Turo, leveraging our established platform to scale their businesses to meet their goals. With an unwavering mission of putting the world's 1.5 billion cars to better use, Turo unlocks the hidden value in idle and underutilized assets, empowering anyone to get in the driver's seat. Find your drive® — Turo. To learn more about Turo, please visit About UberUber's mission is to create opportunity through movement. We started in 2010 to solve a simple problem: how do you get access to a ride at the touch of a button? More than 61 billion trips later, we're building products to get people closer to where they want to be. By changing how people, food, and things move through cities, Uber is a platform that opens up the world to new possibilities. Media ContactsTuro Media Teampress@ Communicationspress@ View original content to download multimedia: SOURCE Turo Inc. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
22-04-2025
- Business
- Bloomberg
Gusto Scales Up HR-Payroll Software for SMBs: Tech Disruptors
Helping small businesses manage all things HR -- payroll, benefits, tax compliance, employee onboarding -- is Gusto's central focus. The company's Chief Technology Officer, Mike Tria, spells out Gusto's product portfolio suite and the evolution of the human capital management industry over the past ten years from a technology angle. In this Tech Disruptors podcast episode, BI analyst Niraj Patel sits down with Tria to discuss Gusto's appeal across a fragmented customer base, the leverage of its technology infrastructure (Ruby on Rails) to scale up for asynchronous workloads, the software ecosystem, its AI solution - Gus, and more.
