Seeking Alpha’s roundup of statements, announcements and remarks that could impact the technology sector.
- PubMatic is suing Alphabet’s (NASDAQ:GOOG) (NASDAQ:GOOGL) Google for allegedly monopolizing certain adtech markets.
“Google’s systematic abuse of its vast resources and immense power has harmed our business and distorted a marketplace that should have rewarded innovation and fueled transparency and competition. Instead, anticompetitive practices limited monetization for publishers, raised costs for advertisers, and ultimately reduced choice for consumers,” said PubMatic Co-Founder and CEO Rajeev Goel, in a statement.
PubMatic added that its suit follows a ruling by a federal court in April that Google had engaged in anticompetitive behavior in the publisher ad server and ad exchange markets.
- Quantum computing company Infleqtion plans to go public through a SPAC deal with Churchill Capital Corp. X (NASDAQ:CCCX).
The deal, which values Infleqtion at $1.8 billion, is expected to provide the company with gross proceeds of $540 million. The merger is subject to approval by Churchill shareholders, the companies said in a statement.
After the closing, shares of the combined company are expected to trade on a leading North American exchange under the symbol INFQ.
- Netskope (NTSK), which has built an AI-powered cybersecurity platform, has disclosed terms for an IPO that seeks to raise up to around $813 million.
In its latest SEC filing, Netskope said it’s looking to offer 47.8 million shares priced between $15 and $17 per share. Lead underwriters include Morgan Stanley, J.P. Morgan, BMO Capital Markets, TD Cowen, Citizens Capital Markets, Mizuho, RBC Capital Markets, Wells Fargo Securities, and Deutsche Bank Securities.
Netskope first filed for the IPO in August. The company hopes to list its shares on Nasdaq under the symbol NTSK.