Jun 1, 2017

Deere & Co. makes its largest acquisition ever

Deere & Co. (NYSE: DE) has agreed to acquire the Wirtgen Group, a privately-held German manufacturer of road construction equipment, for around $5.2 billion in cash (including assumed debt).

Why it's the BFD: This is Deere's largest acquisition ever, and comes as the White House continues to talk about a trillion dollar infrastructure plan that, if realized, would include all sorts of roadwork.

Numbers: Wirtgen reports €2.6 billion of revenue for 2016, and has around 8,000 employees in more than 100 companies.

Bottom line: "Spending on road construction and transportation projects has grown at a faster rate than the overall construction industry and tends to be less cyclical." ― Deere exec Max Guinn

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Trump administration backs Oracle in Google fight

Photo illustration: Aïda Amer/Axios. Photo via The Washington Post.

The Trump administration is siding with Oracle in the database giant's dispute with Google before the Supreme Court — a move that comes as Oracle's founder hosts a high-dollar fundraiser for the president.

Why it matters: Billions of dollars — and, Google argues, the future of software innovation — are at stake as a long-running copyright dispute between the two giant companies heads to the Supreme Court next month.

Established VCs turn to "super angels" to grow their network

Illustration: Eniola Odetunde/Axios

Thanks to companies like AngelList and Carta that make it easier than ever to set up small VC funds, a new generation of so-called “super angels” is cropping up — and established venture funds are backing them.

Why it matters: Just like the boom in scout programs a number of years ago, it’s all about the deal flow.

Scoop: Top NSC official reassigned to Energy Department amid "Anonymous" fallout

Photo: Mark Wilson/Getty Images

Deputy national security adviser Victoria Coates will be reassigned as a senior adviser to Energy Secretary Dan Brouillette, the National Security Council said Thursday — and a senior White House official said that the administration "rejects" the rumors that she is "Anonymous."

Why it matters: Coates has battled claims that she is the still-unknown Trump administration official that penned a New York Times op-ed and book critical of President Trump.