Hello!

Here is what happened today in European tech:

Deals

- Electronic Arts has reached an agreement to acquire UK-based game developer and publisher Codemasters, valuing the company at approximately $1.2 billion. The deal is anticipated to be completed in Q1 2021, and comes at a surprise as rival publisher Take-Two Interactive had only agreed to buy Codemasters for close to $1 billion last month.

- Israeli fabless semiconductor company Xsight Labs has come out of stealth and announced that it has raised $116 million to date from Intel Capital, Microsoft M12, Xilinx, Battery Ventures, Valor Equity Partners, Atreides Management and others.

- Nordic e-commerce powerhouse BHG has acquired 97.6% of Scandinavian design e-tailer Nordic Nest, it announced on Sunday. The deal values Nordic Nest, which was founded in Sweden back in 2002 (under the name Designonline), at approximately €175 million.

- German Bionic, a manufacturer of smart robotic exoskeletons and related software solutions, today announced that it has closed $20 million in Series A financing. The funding round was led by Samsung Catalyst Fund and Munich-based MIG.

- Neufund, a German fintech startup that connects investors and entrepreneurs by means of a blockchain-powered platform, has raised another €4 million in financing in a round led by Christophe Maire’s Atlantic Labs and Factory Berlin CEO Udo Schloemer.

- Spacewell, headquartered in Antwerp, Belgium, has acquired 100% of DEXMA. The latter company, based in Barcelona, is a provider of innovative SaaS solutions with artificial intelligence/machine learning capabilities for energy data management.

- London-based SaaS management platform Cledara has raised $3.4 million in a seed round led by Nauta Capital, with support from existing investor Anthemis.

- We also tracked a large number of (other) European tech funding rounds and M&A transactions, all of which we are putting in a handy list for you on Friday afternoon in our weekly roundup newsletter (note: the full list is for paying customers only). Also check out our European tech news section for ongoing coverage.

Worth Knowing

- Tech giants deemed to be gatekeepers could face fines as high as 10% of annual revenue if they don’t comply with new European Union rules on data usage to be unveiled Tuesday, according to a draft of the regulation seen by Bloomberg News. Also check out Politico's 'Inside Silicon Valley’s digital lobbying playbook'.

- There is now a political agreement between the European Parliament and the EU Member States on the first EU programme that aims to accelerate the recovery and drive the digital transformation of Europe. Worth €7.5 billion, the Digital Europe Programme is a part of the next long-term EU budget that covers the 2021-2027 period. It will provide funding for projects in five crucial areas: supercomputing, artificial intelligence, cybersecurity, advanced digital skills, and ensuring the wide use of digital technologies across the economy and society.

- Keep an eye out for Swedish water technology company Orbital Systems (the ‘Tesla of showers’) as DiDigital reports that the startup is raising €20 million at a €100 million+ valuation.

- The European Union’s rights watchdog has warned of the risks of using artificial intelligence in predictive policing, medical diagnoses and targeted advertising as the bloc mulls rules next year to address the challenges posed by the technology.

- It’s predicted that e-commerce in Germany could be worth up to 141 billion euros in 2024.

- International venture capital firm Square Peg Capital announced today that it has closed its fourth generation of venture capital funds of $450 million. The firm says that it looks to ramp up its investments in Israel.

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