The cloud storage company Box announced its quarterly earnings for the first time as a public company Thursday. Shares dropped over 10% upon news that the company’s notorious operating margins were not expected to improve over the rest of the year while top line growth was expected to continue at around 30%. Though it currently uses non-GAAP accounting standards, Box is not expected to break-even on a cash flow basis until 2018.
Google is reportedly pursuing an acquisition of InMobi, an Indian mobile advertising network that has raised around $215 million from investors such as SoftBank and Kleiner Perkins. The deal would be for around $1 billion. InMobi, for its part, has publicly denied the report.
Amazon has purchased 2lemetry, a Denver, CO-based platform with a platform that facilitates the Internet of Things in enterprise settings. 2lemetry’s technology figures to be incorporated into AWS, Amazon’s cloud-based IT solution. Founded in 2011, 2lemetry most recently raised $4 million in January from Salesforce Ventures. Terms of the deal are currently undisclosed.
PayPal, preparing to be spun off as a separate entity later this year, is spending $60 million to acquire CyActive, a predictive malware detection provider based in Israel. The deal is apart of a larger plan to build a corporate digital security hub in Israel.
Open source customer relationship management company SugarCRM has acquired Stitch, a mobile-first CRM platform founded by ex-Salesforce executives. Stitch will be shut down after the acquisition is finalized, with the company’s IP and assets rolling over to Sugar. Stitch raised $3.3 million in April of 2014, from investors like Google Ventures and Foundation Capital. Terms of the deal are undisclosed.
Vista Equity Partners has retained bankers to explore the sale of Websense, an Internet and network security company it purchased in 2013 for $890 million. The news comes according to reports by Bloomberg.