A back-and-forth acquisition deal between Binance and FTX dominated the tech headlines last week. Catch up on other Chicago tech news, like Sabanto’s fresh funding or VillageMD’s acquisition, with the Built In Chicago Weekly Refresh.
VillageMD acquired Summit Health-CityMD. VillageMD, a healthcare provider with strong ties to Walgreens, announced that it acquired a healthcare provider with over 400 care locations in the northeast. The deal is valued at $8.9 billion and grows its provider network to over 680 locations across the U.S. The deal is expected to close in early 2023. [Built In Chicago]
Binance dropped its plans to acquire FTX. After a turbulent couple of days in which Binance announced that it signed a non-binding letter of intent to acquire FTX, the deal was called at the last minute. FTX, one of the largest crypto exchanges, remains an independent company. Its subsidy FTX US is also unaffected by the failed acquisition. [Built In Chicago]
Chicago Tech Quote of the Week
Serendipity announced plans to expand in the Chicago suburbs. Serendipity is a New York-based co-working startup with a location in the Chicago suburbs. The company’s CEO stated it will open several new locations in suburbs over the next couple before deciding when to return to the city. [Chicago Business Journal]
Sabanto secured additional funding. Sabanto is developing technology to convert small tractors into an autonomous vehicle capable of row crop field operations, like planting, tillage, spraying and mowing. In August, the Chicago-based company raised $17 million. This past week, Sabanto secured additional capital from Cooperative Ventures. Details of the round were not made public. [PR Newswire]
