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Tilray Inc. is a major Canadian cannabis producer and the first in its industry to be listed on a major U.S. exchange.
On the 15th of this month, Tilray Inc. and Aphria Inc. agreed to combine their operations, forming a new giant in the fast-growing cannabis industry.
The all-stock deal, which puts together two of the market’s best-known names, will create an entity with an equity value of about $3.8 billion. The combined group’s 12-month sales of $679 million surpass that of industry leaders such as Curaleaf Holdings Inc. and Canopy Growth Corp.
The deal reinforces that cannabis, still seen by some as a fringe investment, is a fast-evolving sector as more U.S. states legalize the substance and an increasing number of European countries open up to its medical use. The industry has seen a flurry of deals as companies jockey for position amid rapidly changing rules. Tilray and Aphria’s combined assets represent an early step toward that goal of creating a global cannabis operation.
When it comes to software houses, few have the resources, track record, and brand recognition of Adobe Inc. Founded back in 1982 by John Warnock and Charles Geschke, Adobe has grown from a garage-based operation into a global software goliath with a valuation of over $240 billion and an annual income topping $11 billion.
With household names like Photoshop, Fotalia, and Echosign, along with nine-figure acquisitions such as Marketo in its stable, the Adobe umbrella covers more than fifty distinct business operations.
Virgin Galactic, headquartered in Mojave, California, was founded by Richard Branson and Burt Rutan in 2004. Its goal is to be the first to offer commercially viable space tourism to the public. Advance sales of flights exceed 8000, and at a price of $250,000 each, that means Virgin Galactic has banked over two billion dollars before a rocket is fired.
Last Saturday, on a routine test flight, a glitch stopped the engine of the VSS Unity from firing. However, the craft returned safely to earth with no harm done to the vehicle or crew. “Virgin Galactic is now conducting post-flight analysis and can so far report that the onboard computer which monitors the propulsion system lost connection, triggering a fail-safe scenario that intentionally halted ignition of the rocket motor,” the company said in a statement.
When it comes to popular appeal, Virgin Galactic sits firmly in the shadow of SpaceX, Elon Musk’s own stellar venture, despite being much further along the road technologically and likely to hit the market first.
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