NEWS
Nexans to sell AmerCable to Mattr
Nexans has reached an agreement to sell AmerCable to Mattr for US $ 280 million – subject to regulatory clearance .
With the proposed transaction Nexans continues to deliver on the implementation of its strategy to refocus as a Pure Electrification Player .
Mike Reeves , Mattr CEO , said : “ AmerCable is a highly respected North American cabling company with exceptional brand and product development capabilities . We plan to grow the business further and expand its successful operations .”
Since 1922 , AmerCable has been producing power cables designed to operate reliably over long periods of time in extremely harsh operating environments for mining , and oil and gas markets .
Based in Arkansas , with 300 employees . AmerCable reported in 2023 standard sales of € 234 million .
Christopher Guérin , Nexans CEO , said : “ This agreement aligns with our strategy to refocus on Electrification and simplify the Group . Acquired in 2012 , AmerCable has been a key pillar of our Industry & Solutions portfolio . The business went through a significant transformation over the last decade and in the last three years , with the implementation of our SHIFT program , we have brought the business to its full potential and full capacity . It was therefore the appropriate time to look for a new owner that could invest and grow the business further as our cycle was successfully completed . Our AmerCable colleagues will join a company with a great strategic fit and focus on specialty cables in North America .”
11x raises a $ 50m Series B to accelerate the era of digital workers
11x , a leader in AI-powered digital workers for revenue teams , has closed a $ 50 million Series B funding round led by Andreessen Horowitz .
The investment accelerates 11x ’ s digital workers further into the era of AI agents .
“ 11x ’ s approach to sales automation with Alice and Jordan isn ’ t just about optimizing workflows . It ’ s about creating a new model for how work gets done ,” said Joe Schmidt , Partner , Andreessen Horowitz .
“ We ’ re proud to support 11x as they reshape what ’ s possible in sales .”
The company ’ s first two digital workers have demonstrated remarkable results :
• Alice , the world ’ s first AI SDR , manages campaigns , sources leads and personalizes outreach – driving response rates 3x higher than traditional SDRs .
• Jordan , a 24 / 7 multilingual phone rep , handles calls in over 30 languages – delivering up to 10x faster lead response times .
Now 11x has doubled down on delivering truly autonomous outcomes for customers by developing an entirely new version of Alice using the latest agentic AI research .
Alice 2.0 is fully autonomous , leverages first-party data , and learns from every interaction to improve over time .
Following a significant team expansion in the US after their Series A this September , 11x has acquired Opkit , an AI startup focused on developing healthcare solutions .
In the next year , 11x plans to launch multiple new AI agents while driving aggressive revenue growth and key hiring initiatives in San Francisco .
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