IOI Properties launches property trust IPO seeking 2.1 billion ringgit
The offering puts the trust's value at about 5.3 billion ringgit, with a Bursa Malaysia listing planned for November 25.
Omen AI strikes $16 million deal for water-sensor rival Aquatic Labs
Aquatic Labs CEO Allan Adams will become chief science officer as the companies combine technologies for monitoring data-center cooling fluids.
Water-monitoring startup Omen AI is buying Aquatic Labs in a cash-and-stock transaction valued at $16 million. The acquisition brings together complementary sensor technologies designed to help data centers monitor the fluids that cool their chips.
Aquatic Labs measures alkalinity, while Omen’s sensors identify elements present in water. The companies are working to combine those capabilities in a single device. Allan Adams, Aquatic Labs’ CEO, is taking the chief science officer role and said the combination would give operators a fuller understanding of their cooling fluids.
Omen, established in 2024, secured $31 million through a Series A round in June. It is developing sensors to detect valve failures and bacterial growth that could block water flow. The technology aims to replace a testing process that requires samples to be sent to laboratories, with results taking several days.
Cooling-system problems can lead operators to discard water rather than risk damaging equipment, stopping operations while the system is restored. Monitoring can extend the use of cooling fluids and limit cleanup expenses.