Exclusive: Supply chain software firm E2open nears deal to go public – sources

(Reuters) – U.S. supply chain management software firm E2open LLC is nearing a deal to go public through a merger with blank-check acquisition company CC Neuberger Principal Holdings I at a valuation of more than $2.5 billion, including debt, people familiar with the matter said on Tuesday.

An agreement could be announced as soon as Wednesday, the sources said, cautioning that talks could still falter. E2open is owned by private equity firm Insight Partners.

The sources requested anonymity because the matter is confidential. CC Neuberger declined to comment. E2open and Insight Partners did not immediately respond to requests for comment.

CC Neuberger I shares rose as much as 10.7% on the news but pared gains to close 3.2% higher at $10.53.

CC Neuberger I is a special purpose acquisition (SPAC), or shell, company that uses proceeds from an initial public offering to acquire a private company, which then becomes public as a result.

Merging with a SPAC has become a popular alternative to going public in a traditional initial public offering, as it involves less regulatory scrutiny and more certainty over the market valuation and funds raised.

So far this year, sports betting platform DraftKings Inc and electric commercial truck maker Nikola Corp have gone public by merging with a SPAC.

Insight Partners took E2open private in 2015 in a roughly $273 million deal. The Austin, Texas-based company sells software that allows companies to manage their supply chain.

E2open’s revenue is around five times what it was in 2015, one of the sources said. It stands to benefit as companies automate their supply chains further in the COVID-19 pandemic.

Led by veteran Wall Street dealmaker Chinh Chu’s investment firm, CC Neuberger I raised $414 million in an IPO in April with the aim of buying a company in the financial,

Court Orders Seizure of Ransomware Botnet Controls as U.S. Election Nears | Technology News

SAN FRANCISCO (Reuters) – Microsoft said Monday it had used a court order to take control of computers that were installing ransomware and other malicious software on local government networks and threatening to disrupt the November election.

The maker of the Windows operating system said it seized a series of internet protocol addresses hosted by U.S. companies that had been directing activity on computers infected with Trickbot, one of the most common pieces of malware in the world.

More than a million computers have been infected with Trickbot, and the operators use the software to install more pernicious programs, including ransomware, for both criminal groups and national governments that pay for the access, researchers said.

Trickbot has shown up in a number of public governments, which could be hurt worse if the operators encrypt files or install programs that interfere with voter registration records or the display and public reporting of election results, Microsoft said.

“Ransomware is one of the largest threats to the upcoming election,” said Microsoft Corporate Vice President Tom Burt. Among other programs, Trickbot has been used to deliver Ryuk ransomware, which has been blamed in attacks on the city of Durham, N.C., and hospitals during the COVID-19 pandemic.

Microsoft worked with Broadcom’s Symantec, security firm ESET and other companies to dissect Trickbot installations and trace them to the command addresses, the companies said. Microsoft for the first time used strict provisions in copyright law to convince a federal judge in the Eastern District of Virginia that since Trickbot used Microsoft code, the company should be able to seize the operator’s infrastructure from their unknowing hosting providers.

The seizure follows mechanical attempts to disrupt Trickbot last week by sending the operators bad information, researchers said. The Washington Post reported that U.S. Cyber Command was behind that effort,

The Case for Buying Asia Stocks Over U.S. Ones as Election Nears

Japan Stocks Look to Cap Fourth Weekly Gain After Rate Decisions

Photographer: Kiyoshi Ota/Bloomberg

An expected surge in election-related volatility in the U.S. stock market is paving the way for Asian shares to make a run at besting their American peers.

Since hitting an all-time low relative to the S&P 500 on Sept. 2, the MSCI Asia Pacific Index has outperformed the U.S. benchmark by almost five percentage points. That nascent trend is expected to persist at least through the November poll and potentially beyond, according to strategists.

Asia-Pacific stocks languishing close to record relative low vs U.S.

“There is a better than average chance that Asian stocks will outperform U.S. stocks over the course of the next month,” said Eoin Murray, head of investment for international business at Federated Hermes. “The volatility rise will be more pronounced in U.S. risk assets, and will pervade more globally but with less strength.”

Fears about a contested election result and President Donald Trump’s decision not to push for further stimulus ahead of the vote have helped contribute to the recent weakness in U.S. equities. Meanwhile, a growing belief in a Joe Biden victory and Democrats winning control of both houses of Congress is seen benefiting Asian stocks by reviving the U.S. economy and trade flows.

Democratic Landslide

“The probability of Asian equities’ outperformance will be higher under a Democratic landslide win,” said Nader Naeimi, head of dynamic markets with AMP Capital. “I firmly believe that trend will continue, Asia is under-owned and the U.S. is over-owned.”

Asia will also benefit from China’s strong economic recovery, a weakening dollar that has likely seen an end to its decade-long bull market, as well as a rotation into cyclicals and value, Naeimi added.

Thomas Poullaouec, head of multi-asset solutions for Asia Pacific at T. Rowe Price, also believes the region’s stocks are better placed than their U.S. peers to benefit from the