Apple Discloses Acqui-Hire of Agentic Data Engineering Firm Ascend.io

Apple have disclosed details (except deal value) of their acquisition of Ascend.io, a startup in Silicon Valley founded in 2015, building agentic data engineering technology, from Ascension labs. The deal closed on June 30, 2026.

Ascend.io uses AI agents to automate routine data engineering work, with clients that include News Corp, HarperCollins, Mattel and Marist.

The deal terms include the right to "make employment offers and hire certain employees" and a "non-exclusive license to Ascend's IP rights" and assignment of certain patents.

Pundits speculate the deal is as much about talent and technology as finished products.

Endava Revenue Recognition Woes Lead to Changing of the Guard

An investigation into Endava's revenue recognition has led Chief Financial Officer and Board member Mark Thurston to resign. John Cotterell, CEO, has also informed the Board of his decision to retire effective October 19, 2027, in accordance with his 12 month notice requirement.

A CFO search is underway, while Conor McShane of AlixPartners LLP continues to serve as Interim Chief Financial Officer. The Board has determined new leadership is critical so have also appointed Rob Machin, the Company's Chief People and Locations officer as Interim CEO from late November 2026.

LSEG agrees to buy Octus from Permira for $3.535bn

The multiple was 11.8x 2026 revenue of $300m+, roughly 28x EBITDA, and LSEG's largest deal since Refinitiv. Permira was reportedly asking for $4bn in 2025.

Freight Rates in Spotlight with Hormuz Disruption

Disruption to major shipping lanes, like the Strait of Hormuz, have caused freight rates to climb this year. 

As an example, the BDI, or Baltic Dry Index (published daily), which tracks the cost of shipping raw materials like coal and steel, is up about 36% since early January - but with peaks and troughs creating substantial volatility.

(Technical note: BDI is a composite index made up of  a weighted sum of cost indices for various size of ships: 40% Capesize, 30% Panamax, 30% Supramax).

Recall that Capesize are the largest class of dry-bulk carriers, primarily transporting high volume commodities like iron ore and coal. Their name comes from the fact they traditionally had to "round the capes" as their size exceeded canal limits. They have deadweight tonnage of between 150K to 400K tonnes (note: DWT includes cargo, fuel, water, provisions, passengers and crew).

Freshfields Mulling Carve Out of AI Unit

Freshfields (a leading global law firm) has a dedicated AI focus area.  

Anna Gressel is Global Co-Head of AI, based in New York (World Trade Center) as is Giles Pratt, who also leads the IP/data practice, based in London (Bishopsgate).

In the AI space, they have advised AxelSpringer (Politico, Business Insider, Bild and Welt) on the IP and commercial aspects of its global partnership with OpenAI.

Rystad Energy gets PE Money and new CEO

Marlin Equity Partners has invested in Rystad enabling it to lean into data, technology and AI. Founder Jarand Rystad (who has led the company since 2004) will step away as CEO - with Deputy CEO Lars Erik Nicolaisen rising to the CEO spot on 12 October 2026. Rystad launched Spektra in August, which is a tech ecosystem replete with MCP connectors and and API gateway. 

Portable Alpha

Many funds now offer portable alpha.

One such is Man Group.