DuPont | November 02, 2021
Rogers Corporation (NYSE:ROG) announced that it has entered into a definitive merger agreement to be acquired by DuPont (NYSE: DD) in an all-cash transaction that values Rogers at approximately $5.2 billion.The transaction delivers substantial value to Rogers’ shareholders, who will receive $277 in cash per share, representing a 33% premium over Rogers’ closing share price on November 1, 2021, and a 46% premium to the 1-month volume weighted average share price.
Following the closing of the transaction, Rogers will be integrated into DuPont’s Electronics & Industrial business unit. Rogers significant applications engineering, design expertise, and deep customer relationships form a strong strategic fit with DuPont’s innovation capabilities and collaborative approach to solving the most complex customer challenges.
Rogers is a recognized global leader in advanced materials solutions, and this combination with DuPont will help accelerate our long-term growth in EV/HEV, ADAS and other key markets,” stated Bruce D. Hoechner, Rogers' President and CEO. “The Rogers’ team has created a growth-focused organization built on a foundation of strong technology leadership and customer intimacy. Our combination with DuPont, a proven leader in technology-based materials, provides resources and support to allow Rogers to scale for success. Rogers is a natural fit with DuPont, and this combination will create an exciting next chapter for Rogers’ customers, employees and partners.
“Rogers is a results-driven organization with excellent technical expertise and deep customer relationships that align well with DuPont’s leading innovation and applied material science capabilities,The combination of Rogers with our Electronics & Industrial business further strengthens our market-leading portfolio and ability to bring new solutions to exciting end markets. We look forward to welcoming Rogers’ employees and working together to deliver essential innovations that help our customers and company grow.”
-Ed Breen, DuPont Executive Chairman and CEO.
About Rogers Corporation
Rogers Corporation (NYSE:ROG) is a global leader in engineered materials to power, protect and connect our world. Rogers delivers innovative solutions to help our customers solve their toughest material challenges. Rogers’ advanced electronic and elastomeric materials are used in applications for EV/HEV, automotive safety and radar systems, mobile devices, renewable energy, wireless infrastructure, energy-efficient motor drives, industrial equipment and more. Headquartered in Chandler, Arizona, Rogers operates manufacturing facilities in the United States, Asia and Europe, with sales offices worldwide.
DuPont (NYSE: DD) is a global innovation leader with technology-based materials and solutions that help transform industries and everyday life. Our employees apply diverse science and expertise to help customers advance their best ideas and deliver essential innovations in key markets including electronics, transportation, construction, water, healthcare and worker safety. More information about the company, its businesses and solutions can be found at www.dupont.com. Investors can access information included on the Investor Relations section of the website at investors.dupont.com.
Lennar | October 26, 2021
Lennar, one of the nation's leading homebuilders, and ICON, a construction technologies company pioneering large-scale 3D printing, announced a commitment to build the largest community of 3D-printed homes to date using ICON's innovative robotics, software and advanced materials. Breaking ground in 2022, the 100-home community will be codesigned by the acclaimed architecture firm, BIG-Bjarke Ingels Group.
The announcement deepens a relationship that began with Lennar's investment in Austin-based ICON's recent $207-million financing round and offers a promising path toward delivering affordable, technology-driven homes that meet rising demand.
"Labor and material shortages are two of the biggest factors pushing the dream of home ownership out of reach for many American families,Lennar has always expanded the boundaries of technological innovation to keep quality homes affordable and 3D printing is an immensely encouraging approach. We are excited to collaborate with ICON to develop solutions to emerging challenges in the coming years."
-Eric Feder, President of LENX
ICON's 3D printing technology produces resilient, energy-efficient homes faster than conventional construction methods with less waste and more design freedom – keeping construction projects on schedule and on budget. Designed and engineered from the ground up for volume 3D printing of homes with precision and speed, ICON's Vulcan construction system can deliver homes and structures up to 3,000 square feet that are built to the International Building Code (IBC) structural code standard and expected to last as long or longer than standard Concrete Masonry Unit (CMU) built homes. ICON's proprietary wall system and advanced materials are stronger and longer-lasting than traditional building materials and provide safer, more resilient homes that are designed to withstand extreme weather, greatly reduce the impact of natural disasters, and be printed at high speeds and at scale.
"ICON exists as a response to the global housing crisis and to put our technology in service to the world,Construction-scale 3D printing not only delivers higher-quality homes faster and more affordably, but fleets of printers can change the way that entire communities are built for the better. The United States faces a deficit of approximately 5 million new homes, so there is a profound need to swiftly increase supply without compromising quality, beauty, or sustainability and that is exactly the strength of our technology. It is an honor and a huge milestone for ICON to partner with Lennar, an elite top-tier homebuilder with a commitment to innovation. We believe this will be a watershed moment in the history of community-scale development and the future breaking into the present."
-ICON co-founder and CEO Jason Ballard.
Additive manufacturing has the potential to revolutionize the built environment as it gets adopted by the industry at scale," said Martin Voelkle, Partner, BIG-Bjarke Ingels Group. "By partnering with ICON and Lennar, we are able to see this new technology roll out to the widest possible audience. The 3D-printed architecture and the photovoltaic roofs are innovations that are significant steps towards reducing waste in the construction process, as well as towards making our homes more resilient, sustainable, and energy self-sufficient.
Lennar's investment in ICON's Series B financing round in August was facilitated by LENX, which drives a focused strategy within Lennar to integrate technology solutions across the homebuilding industry. With a clearly defined strategy of investing in technology companies directly adjacent to Lennar's core homebuilding operations and a disciplined investment process, LENX provides hands-on mentorship and guidance from senior leaders of Lennar's management team and a marquee opportunity to provide products and technology to Lennar customers, allowing portfolio companies to scale at an unprecedented pace.
About Lennar Corporation
Lennar Corporation, founded in 1954, is one of the nation's leading builders of quality homes for all generations. Lennar builds affordable, move-up and active adult homes primarily under the Lennar brand name. Lennar's Financial Services segment provides mortgage financing, title and closing services primarily for buyers of Lennar's homes and, through LMF Commercial, originates mortgage loans secured primarily by commercial real estate properties throughout the United States. Lennar's Multifamily segment is a nationwide developer of high-quality multifamily rental properties. LENX drives Lennar's technology, innovation and strategic investments. For more information about Lennar, please visit www.lennar.com.
ICON develops advanced construction technologies that advance humanity. Using proprietary 3D printing robotics, software and advanced materials, ICON is shifting the paradigm of homebuilding on Earth and beyond. For more information visit www.iconbuild.com or follow the conversation on Instagram, Twitter, Facebook, YouTube (@ICON3DTech).
About BIG-Bjarke Ingels Group
BIG-Bjarke Ingels Group is a Copenhagen, New York, London and Barcelona based group of architects, designers, urbanists, landscape professionals, interior and product designers, researchers and inventors. The office is currently involved in a large number of projects throughout Europe, North America, Asia and the Middle East. BIG's architecture emerges out of a careful analysis of how contemporary life constantly evolves and changes. By hitting the fertile overlap between pragmatic and utopia, we architects once again find the freedom to change the surface of our planet, to better fit contemporary life forms.
Prophecy | June 23, 2022
Prophecy, the leading low-code platform for data engineering, announced the launch of Prophecy for Databricks, a powerful new offering that makes it easier and faster to build data pipelines that deliver the data for business intelligence and machine learning. This platform, with a visual drag-and-drop canvas, enables anyone that wants to do data engineering to visually and interactively develop, deploy and monitor data pipelines on Apache Spark.
Built for use by both seasoned data engineering teams and non-programmer data citizens alike, Prophecy for Databricks enables many more users to build pipelines easily, move them to production and accelerate the transition of companies being data driven. With 10x users enabled, data teams experience a radical increase in operational excellence and data quality enabling them to manage more pipelines than ever before.
IDC has forecasted that data is being created at an annual growth rate of 23%, which mans 181 zettabytes of data will have been created by 2025. With data growing so quickly, corporations are struggling to keep up with processing the data at this pace. According to Gartner, the DBMS market is nearly $80B and grew 22% in just the last year, with the share of cloud DBMS growing even faster than the overall DBMS market.
Existing data engineering products do not meet the needs of companies and have proven to be unnecessarily complex and inefficient. With Prophecy for Databricks, companies can 10x data engineering with dramatic increases in data practitioners doing data engineering, individual productivity, reliability of data pipelines, and data quality.
The industry need for data & analytics far outstrips what can be produced by data engineers programming in notebooks. With this release of Prophecy for Databricks, we're providing powerful, visual tools that enable an order of magnitude more data users to quickly develop data pipelines, at the same level as programmers. This expansion of data engineering to non-programmers is the only way to realize the potential of data at scale."
Raj Bains, CEO and co-founder of Prophecy
With Prophecy for Databricks, companies can modernize their data pipelines on Spark through the platform's core features, which include:
A Visual Development Environment - An intuitive, low-code, drag-and-drop IDE enables all data practitioners, from non-programmer to expert, to develop data pipelines on Spark quickly and easily. The platform turns the visual data pipeline into 100% open-source Spark code (PySpark or Scala), with interactive development and execution to verify that pipeline works correctly every step of the way.
Productivity Enhancement - The ability to build and extend custom data frameworks in the visual elements, standardizes and reuses components, leading to improved efficiency, better collaboration, and reduces risk. GIT integration allows for tracking and versioning of changes, test coverage ensures all changes are unit tested, CI/CD moves changes from development to production with high confidence, and metadata search and lineage ensures data can be tracked all the way back to the source.
Seamless Integration - Prophecy for Databricks integrates smoothly with existing Databricks data stack utilized by enterprises. The technology is deployed within a company's existing Virtual Private Cloud (VPC) and integrates with all major data products and is extensible to support additional tools, including Delta Lake.
Through Databricks Partner Connect, users can start using Prophecy directly within the Databricks User Interface (UI).
The Prophecy for Databricks platform utilizes Databricks Workflows to simplify the orchestration and management of production workflows on any cloud, allowing for the running of code reliably in a Databricks cluster.
Prophecy is the low-code data engineering company. Prophecy provides an easy-to-use visual interface to interactively build, deploy, execute, and manage data processing. Using software engineering best practices with GIT, CI/CD, unit tests, and column-level lineage, Prophecy is trusted by enterprises including multiple companies in the Fortune 50 running thousands of data pipelines every day.