Search results for Silver Lake
AI & Enterprise
Workday shares surge more than 25 percent on report of Silver Lake takeover talks; trading halted
Workday shares jumped more than 25 percent after a report that private equity firm Silver Lake is in talks to acquire the software company, CNBC reported on Aug. 13. Trading in Workday was briefly halted late in the session, the report said. Workday and Silver Lake did not immediately respond to questions. Software companies such as Workday have faced pressure in recent months over concerns that AI tools could disrupt existing business models.
Industry
ByteDance valuation tops $600 billion as demand surges for founder stake sale
ByteDance, the parent of TikTok, has topped a record valuation of more than $600 billion as investor demand concentrated on a stake sale led by one of its founding members. The deal targets about $900 million in share transfers. People familiar with the matter said the seller initially priced the company at about $550 billion but raised the price amid sustained interest. ByteDance did not immediately respond to a request for comment.
Crypto
TikTok forms new U.S. entity, ending six-year controversy
TikTok owner ByteDance has established a new U.S. entity, drawing a line under a political controversy that has lasted six years. TikTok will continue its U.S. operations through TikTok USDS Joint Venture LLC with non-Chinese investors. Adam Presser was appointed CEO and TikTok CEO Shou Zi Chew will sit on the board. Oracle, Silver Lake and Abu Dhabi-based MGX each secured 15 percent stakes.