Tolan raises $30 million for AI companion app
Union Square Ventures, Khosla Ventures and Homebrew participated in the round, which doubled the startup’s total funding, according to a media report.
DXC discusses $2.4 billion insurance business sale to Eldridge
Eldridge is considering a combination with its Zinnia platform, but an agreement remains uncertain, people familiar with the discussions said.
Negotiations over Eldridge Industries buying DXC Technology's insurance software and services business for about $2.4 billion have reached an advanced stage, people with knowledge of the discussions said. Eldridge is a private investment firm.
The people said the parties could reach an agreement within weeks, though the negotiations might not result in a completed transaction. They requested anonymity because the talks are private. None of the three companies—DXC, Eldridge or Zinnia—immediately answered requests for comment.
Eldridge is weighing a combination of the DXC division and Zinnia, the people said. Its Zinnia platform supplies life insurers and annuity providers with digital infrastructure and software. The proposed transaction would bring those capabilities together with DXC's software and business-process operations.
For DXC, a sale would advance efforts to simplify its portfolio following years of falling revenue. The division supplies insurers worldwide with outsourcing, policy administration systems and other software. Its customers span life and wealth insurance as well as property and casualty.