Lucid Motors debuts on Wall Street after fluke with merger vote, plans to expand Arizona factory

Lucid Motors

It didn’t go according to the original plan, but Lucid Motors Inc. began trading as a public company on Monday, after shareholders approved a merger with a special-purpose acquisition company (SPAC) last week. Lucid and Churchill Capital Corp. IV, the SPAC, are officially merged and are now known as Lucid Group Inc. (NYSE: LCID). The … Read more

Arizona’s Parchment acquires Ireland-based Digitary as part of a global expansion strategy

Parchment, a Scottsdale-based digital credential service, has announced its acquisition of Digitary, also a digital credential service, which is used in hundreds of higher education institutions around the world.  Parchment and Digitary are both edtech companies designed to allow students, academic institutions and employers to request, verify and share credentials, like academic transcripts, safely and … Read more

Phoenix-based incubator accepting applications for impact accelerator program

incubator

Phoenix startup incubator Seed Spot is accepting 15 companies looking to scale in this year’s Impact Accelerator program. This year, the program will be completely virtual and open to entrepreneurs from around the world.  The six-week program offers a curriculum that focuses on topics including pitching, financial projections, customer acquisition and team development. Seed Spot … Read more

Global IT consulting company TCS to invest $300M, adding jobs and expanding STEM education in Arizona

Tata Consultancy Services (TCS), a leading global IT services, consulting and business solutions company headquartered in India, has announced plans to invest more than $300 million in Arizona by 2026 and hire more than 220 employees here by 2023. The company will also expand the reach of its STEM and Computer Science education programs in … Read more

Scottsdale-based Symmetry to be acquired by $3.8 billion fintech startup Gusto

gusto

Gusto, a cloud-based HR management software, just announced plans to acquire Arizona-based tax-software company Symmetry. This is the $3.8 billion fintech startup’s second acquisition this summer. The deal, which is expected to close later this month, is meant to allow Gusto to build out its existing small business-focused software. Symmetry is used by employers including … Read more

Tempe-based Picmonic acquired by TrueLearn

Picmonic acquired

Picmonic, a Tempe-based audiovisual learning platform, was acquired by TrueLearn, a healthcare education platform that optimizes learning outcomes for students in the medical community. Picmonic is a blend of the words picture and mnemonic — the platform helps students master concepts by combining short mnemonic video lessons and recall questions in an active learning environment. … Read more

22 of Arizona’s major tech developments in May

Arizona saw some big tech developments in May, from expansion, acquisitions and life-saving partnerships to raising millions for local and regional startups. Another possible TSMC expansion in Arizona Taiwan Semiconductor Manufacturing Co., the world’s largest chipmaker, may expand even more in Arizona. Reuters reported in early May that sources familiar with TSMC’s expansion plans said … Read more

India-based Zensar Technologies to acquire M3bi in Scottsdale

Scottsdale-based M3bi has closed a deal with Zensar Technologies, a publicly-traded software and services technology company based in India. Zensar’s US subsidiary, based in San Jose, Calif., will conduct the acquisition. The company will pay an upfront payment of $21.6 million and performance-based deferred payments of no more than $9 million over 36 months. The … Read more