Vanguard Group valued TechBerry at $1.9 billion
Investment firm The Vanguard Group has valued the technology company TechBerry at $1.9 billion. TechBerry's CEO, Bruno Bailey, told The Economist that while this is far from the first acquisition offer the company has received, it is undoubtedly the most substantial to date.
He also mentioned that after positive and constructive negotiations, the companies found a different format for collaboration that suits both parties and does not involve selling TechBerry’s AI platform. "For us, the partnership with The Vanguard Group is undoubtedly valuable, it is no exaggeration to say that this is the most significant deal for us at this point," Bailey said.
The Vanguard Group is one of the world's top three investment firms, managing approximately $6 trillion in assets. The company was founded in 1975 in Malvern, Pennsylvania.
Shandor Brenner is an American journalist recognized for his sharp and insightful reporting on social and political issues. His work is known for its depth, integrity, and the ability to highlight critical societal concerns.