Catch up on the latest Chicago tech news before the month closes out. News this past week included partnerships, accelerators and more. This is the Built In Chicago weekly refresh.
Beam Global to acquire AllCell Technologies. Beam Global provides sustainable technology for electric vehicle charging — such as solar-powered charging — and technology for energy security and outdoor media. Beam Global is acquiring energy storage company AllCell Technologies, which provides a flexible battery platform that is used in Beam Global’s products. The all-stock transaction is expected to close on March 1, and could be valued at $30 million, according to Bloomberg. [Beam]
CHICAGO TECH QUOTE OF THE WEEK
“As consumers continue to digitize their financial behaviors, the addition of Verisk Financial will augment our existing data and analytics capabilities, deepening customer partnerships and complementing our insights and benchmarking solutions. Together, our enhanced capabilities will help our respective customers accelerate their growth by allowing them to make better — and faster — decisions driven by a holistic ‘full wallet view’ of how consumers are using their accounts.” — Steve Chaouki, TransUnion’s president of U.S. markets
TransUnion is acquiring Verisk Financial Services. Credit report platform TransUnion announced it is acquiring Verisk Financial Services, which is the subsidiary of New York-based business consulting firm Verisk. Verisk Financial Services focuses more on financial services such as risk management and bankruptcy solutions. The deal worth is worth $515 million and is expected to close in Q2. The acquisition will allow TransUnion to provide more insight and fraud prevention to its clients as well as digitize more services. TransUnion is currently hiring for more than 170 positions. [Built In Chicago]
Gener8tor announced its accelerator class. Gener8tor recently announced who will participate in its first Chicago program, which will focus on climate tech and sustainability startups. There were more than 350 applicants, and five have been selected for the program. This first class includes Chicago-based startups like Blip Energy, Carbon Yield and Mycocycle, New York-based Itselectric and Canada-based Solar Steam. Startups receive mentorship and coaching along with a $100,000 investment. [Chicago Inno]