JABIL INC. ACQUIRES MIKROS TECHNOLOGIES
Mikros Technologies LLC, a Claremont, NH, company that develops liquid cooling solutions for thermal management, has been acquired by Jabil, a global manufacturing company based in St. Petersburg, Florida, the companies announced Oct. 1.
Mikros’ computer chip thermal tester was named the Product of the Year by the NH Tech Alliance in 2022.
Jabil (NHYS: JBL) has more than 140,000 employees spread across 100 locations in more than 25 countries, according to the company’s website.
As the growing adoption of artificial intelligence, energy storage and electric vehicles drives the need for higher-power density systems, liquid cooling has become a more energy-efficient alternative to air cooling in many applications, the company said in a press release.
The acquisition provides Jabil with critical capabilities to help customers manage the thermal demands of current and next-generation products, focusing on sustainability and cost efficiency.
“We are thrilled to welcome Mikros Technologies to the Jabil team,” said Ed Bailey, senior vice president and chief technology officer, in a statement. “Their thermal management expertise will allow Jabil to extend our services to cloud service providers, hardware OEMs and liquid cooling solutions providers.”
Jabil also sees opportunities “in markets that require thermal management, including automated test equipment for semiconductors, batteries, energy storage systems and electric vehicles,” he said.
For more than 30 years, Mikros Technologies has developed microchannel liquid cooling solutions to tackle complex thermal management challenges. Its proprietary microchannel cold plate designs enhance energy efficiency by cooling over one kilowatt per square centimeter.
“Joining Jabil is a tremendous path forward for Mikros Technologies,” said Drew Matter, CEO of Mikros Technologies, in the release.
“We can now scale our best-in-class liquid cooling capabilities to meet the thermal demands of the world’s leading brands alongside a high-performing team we enjoy working with,” he said.
E-COMMERCE STARTUPS ACCOUNTED FOR 13% OF TOTAL VC INVESTMENTS IN 2023
The global e-commerce market is projected to exceed $4.1 trillion in 2024, marking a significant rebound after a slowdown in 2022 and 2023. This represents nearly $600 billion more than last year, with expectations of reaching over $5.3 trillion by 2026. Despite this growth, investor interest in e-commerce startups is waning. In 2023, these startups attracted only 13% of total venture capital (VC) investments, a sharp decline from 41% a decade ago, according to Stocklytics.com.
The decline in VC funding for e-commerce has been ongoing for seven years, driven by factors like economic uncertainty, rising interest rates, and shifts in consumer spending. The sector’s maturation and reduced post-pandemic enthusiasm for online shopping have further complicated fundraising for new startups. Meanwhile, the Software as a Service (SaaS) sector has surged, capturing 47% of VC investments in 2023.
Despite the challenges, e-commerce startups have raised nearly $155 billion over the past decade, with Asian companies, particularly from India and China, securing the largest share. In contrast, U.S. and European startups raised $40.3 billion and $28.9 billion, respectively, highlighting the varied dynamics within the global e-commerce landscape.
ITACONIX ANNOUNCES CHANGE IN AUDITOR
Itaconix plc (AIM: ITX) (OTCQB: ITXXF), a Stratham-based innovator in plant-based specialty polymers used to decarbonise everyday consumer products, announced that it has appointed a new external audit firm.
Itaconix’s board has accepted the resignation of its current auditor, BDO LLP, and has approved the appointment of PKF Littlejohn LLP as its new external auditor. In accordance with Section 519 of the Companies Act 2006, BDO LLP has deposited with the company a statement confirming that there are no matters to be brought to the attention of the company’s members or creditors.
Shareholder approval to confirm the appointment of PKF Littlejohn LLP as its external auditor will be sought at the 2025 AGM.
John R. Shaw, CEO of Itaconix, commented, “As part of our governance practices, the Board has completed an audit tender process. The Board would like to thank BDO for their work as auditor over the years, and we look forward to working with PKF Littlejohn.”
