Connect with us

Tech

Autonomous building tech company PassiveLogic is gearing up to ship its product in 2023 – Fortune

Avatar photo

Published

on

The first time I spoke with Troy Harvey, co-founder of the autonomous building technology company PassiveLogic, we ended up on the phone for over an hour—mostly because it took about that long for me to start piecing together exactly what it is he does. 
For years, Harvey and Jeremy Fillingim have been thinking big—really big—about how to assemble a new tech platform to tackle energy inefficiencies in what Harvey describes as the most complex things humans make: Buildings.
A high-end vehicle may have around 30 electronic systems and 100 sensors (think parking sensors or fuel temperature sensors). But some commercial buildings, Harvey says, have 500,000 inputs and outputs. And no one single technology system controls them. The thermostats, pumps, boilers, evaporator coolers—you name it—are all working separately without talking to one another, and consuming that much more energy. 
To address those inefficiencies (and aim to conserve about 30% of a building’s energy output), PassiveLogic’s 90-person team has been building a platform that offers buildings level five autonomy—where artificial intelligence is used to optimize millions of different control paths. The tech is meant to work in the background, controlling each part of an industrial or residential building’s functions, without needing the human input that smart devices require. PassiveLogic has been testing its technology with an early subset of customers, and it plans to start shipping its initial product at the beginning of next year, Harvey says, declining to comment on the initial contracts. The company also plans to sell its cloud services on what is basically the equivalent of an app store for buildings. 
The funding for PassiveLogic started pouring in from VCs at the end of 2020. That October, Keyframe Capital Partners and Addition led a $16 million Series A round for the company. Earlier this year, it raised a $34 million Series B round, and then an additional $15 million in April, led by Brookfield Growth, the growth investing arm of real estate giant Brookfield, which is one of the companies now working with PassiveLogic. Harvey told me earlier this year he was spending  “a good bit” of his week now fielding inbound investor calls.
But the interest from venture investors has only come more recently. “Five years ago, we were at the idea stage with a little bit of prototype technology, and we went up and down Sand Hill Road,” Harvey says, noting that venture capitalists kept saying: “I don’t get it.” Interestingly, that’s a sentiment I’ve heard before from other founders pitching complicated, innovative technologies. 
It’s the Department of Energy that has been most bullish on the technology’s potential, according to Harvey, who says that “government’s been a big part of how we got to this point.” The Department of Energy funded the company’s initial tech development via a grant that PassiveLogic used to develop its digital twin technology, which can be used to digitally describe spaces, systems, and occupants of a building, and develop control systems automatically.
Now that the technology is getting closer to initial deployment and PassiveLogic is working with Brookfield and Amazon warehouse owner Prologis, the DOE is circling back to the startup with $1 million for a two-year partnership between it and the Pacific Northwest National Laboratory (PNNL). Together they plan to conduct research and develop deep artificial intelligence for predictive building control, with an aim to improve the energy efficiency of four million buildings by 2030—lining up with a key priority of the current administration to substantially reduce net greenhouse gas pollution by that year.
An important part of the project is that PNNL will provide open-source generic code libraries for deep learning models, so that other industry stakeholders (think control companies or engineering firms) can integrate the software into their own workflows, according to Draguna Vrabie, Chief Data Scientist at PNNL.
The framework “is not specific to buildings,” Vrabie tells me. Her team of data scientists and computer engineers are thinking bigger about what the predictive technology could mean for a wider range of application areas and complex energy systems.
Harvey may be a founder without a product quite yet on the market, but he gets energetic when talking about the downturn. 
For him it means more people available to hire, and, very importantly, cleaning up the supply chain. Bottlenecks stemming from the pandemic have forced PassiveLogic to put in orders for parts they won’t need for another three years. Those time tables are already shrinking, Harvey says.
But Harvey also says he is ready for venture capital dollars to start pouring into more transformational projects, rather than “lightweight” technologies that turn a quick profit.
“The investments in actual technology are lower than they’ve been in 40 years,” Harvey says, adding later: “I think this is going to be a cleaning cycle for some of that behavior that has been maybe profitable to a certain extent, but not very meaningful.”
After all, while Harvey initially struggled to explain to VCs what his team was building, it didn’t take long for his mechanical and electrical engineers, installer, and technician customer base to get the idea—particularly if you ask John Arfman, whose company, TEC Systems, manages the technology systems for about 250 buildings, primarily in New York City, and has been involved in the testing of PassiveLogic’s product. Arfman points out that they are still a ways out from widely installing PassiveLogic’s predictive control technology, but he’s optimistic and very enthusiastic about what he has seen so far.
“When I first met Troy, I was not positive that he [could] pull this all off. But if he can pull off 50% of it, he’s going to transform our entire industry,” Arfman says.  
Until Monday,
Jessica Mathews
Twitter: @jessicakmathews
Email: [email protected]
Submit a deal for the Term Sheet newsletter here.
Correction: A previous version of this newsletter misstated the number of employees at PassiveLogic.
Jackson Fordyce curated the deals section of today’s newsletter.
VENTURE DEALS
IDRx, a Boston-based clinical-stage cancer treatment biopharmaceutical company, raised $122 million in Series A funding. Andreessen Horowitz and Casdin Capital led the round and were joined by investors including Nextech Invest, Forge Life Science Partners, and others.
PayIt, a Kansas City-based digital government services and payments platform, raised $90 million in funding from Macquarie Capital Principal Finance.
Orange EV, a Kansas City-based EV manufacturer, raised $35 million co-led by S2G Ventures and CCI
Arena AI, a New York-based autonomous operating system platform provider, raised $32 million in Series A funding. Initialized Capital and Goldcrest Capital led the round and were joined by investors including Peter Thiel, General David Petraeus, Michael Siebel, and other angels. 
Mosey, a San Francisco-based employment and tax compliance platform, raised $18 million in Series A funding. Canaan led the round and was joined by investors including Gusto, SemperVirens, and Charge
Locket, a Los Angeles-based photo-sharing widget, raised $12.5 million in funding. Sam Altman led the round and was joined by investors including Sugar Capital, Costanoa Ventures, Instagram co-founder Mike Krieger, Quora CEO Adam D'Angelo, and others.  
Stride, a New York-based multichain liquid staking protocol, raised $6.7 million in seed funding. North Island VC, Distributed Global, and Pantera Capital co-led the round and were joined by investors including Imperator, Cosmostation, Everstake, Staking Facilities, 1Confirmation, Cerulean Ventures, Node VC, Picus Capital, and Road Capital.
Sportsbox AI, a Bellevue, Wash.-based 3D motion capture technology company, raised $5.5 million in seed funding led by EP Golf Ventures.
Glambook, a Berlin-based SaaS beauty platform, raised $2.5 million led by Endel CEO Vlad Pinskj
Clutch, a Houston-based digital marketplace company, raised $1.2 million in pre-seed funding. Precursor Ventures led the round and was joined by investors including Capital Factory and HearstLab
Ruuf, a Santiago, Chile-based solar power marketplace, raised $1 million in seed funding. Positive Ventures and Collaborative Fund co-led the round and were joined by investors including Harvard Business School Rock Center Accelerator, Harvard Innovation Labs, and Chile's Former Minister of Energy Juan Carlos Jobet .
PRIVATE EQUITY
Accelalpha, backed by Century Park, acquired Frontera Consulting, a Hong Kong, London, and New York-based Oracle cloud consulting services provider. Financial terms were not disclosed. 
Highview Capital acquired WilMar, a Vernon, Calif.-based meat packing company. Financial terms were not disclosed. Per terms of the deal, WilMar will merge with Highview’s portfolio company, Randall Foods.
Thompson Street Capital Partners acquired a majority stake in Recovery Benefit Group, a Memphis-based subrogation services provider. Financial terms were not disclosed. 
EXITS
Siemens acquired Brightly Software, a Cary, N.C.-based asset management and facility operations management SaaS provider, from Clearlake Capital Group for $1.875 billion. 
OTHER
Amgen agreed to acquire ChemoCentryx, a San Carlos, Calif.-based rare diseases biopharmaceutical company, for $3.7 billion. 
Gilead Sciences agreed to acquire MiroBio, an Oxford, U.K.-based biotech focused on autoimmune health, for approximately $405 million.
Dentsu Group acquired a majority stake in Extentia, a Pune, India-based mobility, cloud engineering, and UX technology and services firm. 
Roofstock acquired RentPrep, a Lancaster, N.Y.-based tenant screening company for landlords. Financial terms were not disclosed.
Topia acquired Pearl Global Tech, a San Francisco-based immigration risk engine and knowledge base. Financial terms were not disclosed. 
IPOS
Burjeel Holdings, an Abu Dhabi-based health care provider, plans to raise at least $750 million from an initial public offering in Abu Dhabi this year, according to Bloomberg.
SPAC
Bridger Aerospace Group Holdings, a Bozeman, Mont.-based aerial firefighting services provider, agreed to go public via a merger with Jack Creek Investment Corp., a SPAC. A deal would value the company at $869 million. 
Plastiq, a San Francisco-based payments provider, agreed to go public via a merger with Colonnade Acquisition Corp. II, a SPAC. A deal will value the company at about $480 million, including debt. Kleiner Perkins, B Capital Group, and Khosla Ventures back the company.
FUNDS + FUNDS OF FUNDS
Top Tier Capital Partners, a San Francisco-based investment manager, raised $925 million for a fund focused on late-stage climate tech co-investments.
HighPost Capital, a New York-based private investment firm, raised $535 million for a fund focused on the consumer sector.
PEOPLE
AE Industrial Partners, a Boca Raton, Fla.-based private equity firm, promoted Nathan Dickstein to managing director and head of the AE Industrial Partners Aerospace Opportunities Fund.
Kickstart, a Cottonwood Heights, Utah-based venture capital firm, hired Kat Kennedy as general partner. Formerly, she was with Degreed.
TSG Consumer Partners, a San Francisco-based private equity firm, promoted Drew Weilbacher to managing director.
This is the web version of Term Sheet, a daily newsletter on the biggest deals and dealmakers. Sign up to get it delivered free to your inbox.
© 2022 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell My Personal Information | Ad Choices 
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.
S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Terms & Conditions. Powered and implemented by Interactive Data Managed Solutions.

source

Continue Reading
Advertisement
Click to comment

Latest

How a faulty CrowdStike update crashed computers around the world

Avatar photo

Published

on

How a faulty CrowdStike update crashed computers around the world

Airlines, banks, hospitals and other risk-averse organizations around the world chose cybersecurity company CrowdStrike to protect their computer systems from hackers and data breaches.

But all it took was one faulty CrowdStrike software update to cause global disruptions Friday that grounded flights, knocked banks and media outlets offline, and disrupted hospitals, retailers and other services.

“This is a function of the very homogenous technology that goes into the backbone of all of our IT infrastructure,” said Gregory Falco, an assistant professor of engineering at Cornell University. “What really causes this mess is that we rely on very few companies, and everybody uses the same folks, so everyone goes down at the same time.”

The trouble with the update issued by CrowdStrike and affecting computers running Microsoft’s Windows operating system was not a hacking incident or cyberattack, according to CrowdStrike, which apologized and said a fix was on the way.

But it wasn’t an easy fix. It required “boots on the ground” to remediate, said Gartner analyst Eric Grenier.

“The fix is working, it’s just a very manual process and there’s no magic key to unlock it,” Grenier said. “I think that is probably what companies are struggling with the most here.”

While not everyone is a client of CrowdStrike and its platform known as Falcon, it is one of the leading cybersecurity providers, particularly in transportation, healthcare, banking and other sectors that have a lot at stake in keeping their computer systems working.

“They’re usually risk-averse organizations that don’t want something that’s crazy innovative, but that can work and also cover their butts when something goes wrong. That’s what CrowdStrike is,” Falco said. “And they’re looking around at their colleagues in other sectors and saying, ‘Oh, you know, this company also uses that, so I’m gonna need them, too.’”

Advertisement
Submit your 2022 Austin Neighborhood Feedback

Worrying about the fragility of a globally connected technology ecosystem is nothing new. It’s what drove fears in the 1990s of a technical glitch that could cause chaos at the turn of the millennium.

“This is basically what we were all worried about with Y2K, except it’s actually happened this time,” wrote Australian cybersecurity consultant Troy Hunt on the social platform X.

Across the world Friday, affected computers were showing the “blue screen of death” — a sign that something went wrong with Microsoft’s Windows operating system.

But what’s different now is “that these companies are even more entrenched,” Falco said. “We like to think that we have a lot of players available. But at the end of the day, the biggest companies use all the same stuff.”

Founded in 2011 and publicly traded since 2019, CrowdStrike describes itself in its annual report to financial regulators as having “reinvented cybersecurity for the cloud era and transformed the way cybersecurity is delivered and experienced by customers.” It emphasizes its use of artificial intelligence in helping to keep pace with adversaries. It reported having 29,000 subscribing customers at the start of the year.

The Austin, Texas-based firm is one of the more visible cybersecurity companies in the world and spends heavily on marketing, including Super Bowl ads. At cybersecurity conferences, it’s known for large booths displaying massive action-figure statues representing different state-sponsored hacking groups that CrowdStrike technology promises to defend against.

CrowdStrike CEO George Kurtz is among the most highly compensated in the world, recording more than $230 million in total compensation in the last three years. Kurtz is also a driver for a CrowdStrike-sponsored car racing team.

After his initial statement about the problem was criticized for lack of contrition, Kurtz apologized in a later social media post Friday and on NBC’s “Today Show.”

“We understand the gravity of the situation and are deeply sorry for the inconvenience and disruption,” he said on X.

Advertisement
Submit your 2022 Austin Neighborhood Feedback

Richard Stiennon, a cybersecurity industry analyst, said this was a historic mistake by CrowdStrike.

“This is easily the worst faux pas, technical faux pas or glitch of any security software provider ever,” said Stiennon, who has tracked the cybersecurity industry for 24 years.

While the problem is an easy technical fix, he said, it’s impact could be long-lasting for some organizations because of the hands-on work needed to fix each affected computer. “It’s really, really difficult to touch millions of machines. And people are on vacation right now, so, you know, the CEO will be coming back from his trip to the Bahamas in a couple of weeks and he won’t be able to use his computers.”

Stiennon said he did not think the outage revealed a bigger problem with the cybersecurity industry or CrowdStrike as a company.

“The markets are going to forgive them, the customers are going to forgive them, and this will blow over,” he said.

Forrester analyst Allie Mellen credited CrowdStrike for clearly telling customers what they need to do to fix the problem. But to restore trust, she said there will need to be a deeper look at what occurred and what changes can be made to prevent it from happening again.

“A lot of this is likely to come down to the testing and software development process and the work that they’ve put into testing these kinds of updates before deployment,” Mellen said. “But until we see the complete retrospective, we won’t know for sure what the failure was.”

___

Associated Press writer Alan Suderman in Richmond, Virginia, contributed to this report.

Advertisement
Submit your 2022 Austin Neighborhood Feedback

Read More

Continue Reading

Business

Worldwide IT outage: Airlines rush to get back on track

Avatar photo

Published

on

Worldwide IT outage: Airlines rush to get back on track

Transport providers, businesses and governments on Saturday are rushing to get all their systems back online after long disruptions following a widespread technology outage.

The biggest continuing effect has been on air travel. Carriers canceled thousands of flights on Friday and now have many of their planes and crews in the wrong place, while airports facing continued problems with checking in and security.

At the heart of the massive disruption is CrowdStrike, a cybersecurity firm that provides software to scores of companies worldwide. The company says the problem occurred when it deployed a faulty update to computers running Microsoft Windows, noting that the issue behind the outage was not a security incident or cyberattack.

Here’s the Latest:

Microsoft: 8.5 million devices on its Windows system were affected

Microsoft says 8.5 million devices running its Windows operating system were affected by a faulty cybersecurity update Friday that led to worldwide disruptions.

A Saturday blog post from Microsoft was the first estimate of the scope of the disruptions caused by cybersecurity firm CrowdStrike’s software update.

“We currently estimate that CrowdStrike’s update affected 8.5 million Windows devices, or less than one percent of all Windows machines,” said the blog post from Microsoft cybersecurity executive David Weston.

“While the percentage was small, the broad economic and societal impacts reflect the use of CrowdStrike by enterprises that run many critical services.”

Advertisement
Submit your 2022 Austin Neighborhood Feedback

Weston said such a significant disturbance is rare but “demonstrates the interconnected nature of our broad ecosystem.” Windows is the dominant operating system for personal computers around the world.

Austrian doctors’ group calls for better data protection for patients

In Austria, a leading doctors organization said the global IT outage exposed the vulnerability of health systems reliant on digital systems.

“Yesterday’s incidents underscore how important it is for hospitals to have analogue backups” to safeguard patient care, Harald Mayer, vice president of the Austrian Chamber of Doctors, said in a statement on the organization’s website.

The organization called on governments to impose high standards in patient data protection and security and on health providers to train staff and put systems in place to manage crises.

“Happily, where there were problems, these were kept small and short-lived and many areas of care were unaffected” in Austria, Mayer said.

Germany warns of scams after major IT outage

BERLIN — The German government’s IT security agency says numerous companies are still struggling with the consequences of a far-reaching technology outage.

“Many business processes and procedures have been disturbed by the breakdown of computer systems,” the BSI agency said on its website.

But the agency also said Saturday that many impacted areas have returned to normal.

It warned that cybercriminals were trying to take advantage of the situation through phishing, fake websites and other scams and that “unofficial” software code was in circulation.

Advertisement
Submit your 2022 Austin Neighborhood Feedback

The agency said it was not yet clear how faulty code ended up in the CrowdStrike software update blamed for triggering the outage.

European airports appear to be close to normal

LONDON — Europe’s busiest airport, Heathrow, said it is busy but operating normally on Saturday. The airport said in a statement that “all systems are back up and running and passengers are getting on with their journeys smoothly.“

Some 167 flights scheduled to depart from U.K. airports on Friday were canceled, while 171 flights due to land were axed.

Meanwhile, flights at Berlin Airport were departing on or close to schedule, German news agency dpa reported, citing an airport spokesman.

Nineteen flights took off in the early hours of Saturday after authorities exempted them from the usual ban on night flights.

On Friday, 150 of the 552 scheduled inbound and outbound flights at the airport were canceled over the IT outage, disrupting the plans of thousands of passengers at the start of the summer vacation season in the German capital.

German hospital slowly restoring its systems after widespread cancellations

BERLIN — The Schleswig-Holstein University Hospital in northern Germany, which on Friday canceled all elective surgery because of the global IT outage, said Saturday that it was gradually restoring its systems.

In a statement on its website, it forecast that operations at its two branches in Kiel and Luebeck would return to normal by Monday and that “elective surgery can take place as planned and our ambulances can return to service.”

Britain’s transport system still trying to get back on track

LONDON — Britain’s travel and transport industries are struggling to get back on schedule after the global security outage with airline passengers facing cancellations and delays on the first day of summer holidays for many school pupils.

Advertisement
Submit your 2022 Austin Neighborhood Feedback

Gatwick Airport said “a majority” of scheduled flights were expected to take off. Manchester Airport said passengers were being checked in manually and there could be last-minute cancellations.

The Port of Dover said it was seeing an influx of displaced air passengers, with hourlong waits to enter the port to catch ferries to France.

Meanwhile, Britain’s National Cyber Security Center warned people and businesses to be on the lookout for phishing attempts as “opportunistic malicious actors” try to take advantage of the outage.

The National Cyber Security Center’s former head, Ciaran Martin, said the worst of the crisis was over, “because the nature of the crisis is that it went very wrong very quickly. It was spotted quite quickly and essentially it was turned off.”

He told Sky News that some businesses would be able to get back to normal very quickly, but for sectors such as aviation it would take longer.

“If you’re in aviation, you’ve got people, planes and staffs all stranded in the wrong place… So we are looking at days. I’d be surprised if we’re looking at weeks.”

Germany airline expects most of its flights to run normally

BERLIN — Eurowings, a budget subsidiary of Lufthansa, said it expected to return to “largely scheduled” flight operations on Saturday.

On Friday, the global IT outage had forced the airline to cancel about 20% of its flights, mostly on domestic routes. Passengers were asked to take trains instead.

“Online check-in, check-in at the airport, boarding processes, booking and rebooking flights are all possible again,” the airline said Saturday on X. “However, due to the considerable extent of the global IT disruption there may still be isolated disruptions” for passengers, it said.

Advertisement
Submit your 2022 Austin Neighborhood Feedback

Delta Air Lines and its regional affiliates have canceled hundreds of flights

DALLAS — Delta Air Lines and its regional affiliates canceled more than a quarter of their schedule on the East Coast by midafternoon Friday, aviation data provider Cirium said.

More than 1,100 flights for Delta and its affiliates have been canceled.

United and United Express had canceled more than 500 flights, or 12% of their schedule, and American Airlines’ network had canceled 450 flights, 7.5% of its schedule.

Southwest and Alaska do not use the CrowdStrike software that led to the global internet outages and had canceled fewer than a half-dozen flights each.

Portland, Oregon, mayor declares an emergency over the outage

PORTLAND, Ore. — Mayor Ted Wheeler declared an emergency Friday after more than half of the city’s computer systems were affected by the global internet outage.

Wheeler said during a news conference that while emergency services calls weren’t interrupted, dispatchers were having to manually track 911 calls with pen and paper for a few hours. He said 266 of the city’s 487 computer systems were affected.

Border crossings into the US are delayed

SAN DIEGO — People seeking to enter the U.S. from both the north and the south found that the border crossings were delayed by the internet outage.

The San Ysidro Port of Entry was gridlocked Friday morning with pedestrians waiting three hours to cross, according to the San Diego Union-Tribune.

Even cars with people approved for a U.S. Customers and Border Protection “Trusted Traveler” program for low-risk passengers waited up to 90 minutes. The program, known as SENTRI, moves passengers more quickly through customs and passport control if they make an appointment for an interview and submit to a background check to travel through customs and passport control more quickly when they arrive in the U.S.

Advertisement
Submit your 2022 Austin Neighborhood Feedback

Meanwhile, at the U.S.-Canada border, Windsor Police reported long delays at the crossings at the Ambassador Bridge and the Detroit-Windsor tunnel.

Read More

Continue Reading

Latest

European Union accuses Microsoft of breaching antitrust rules by bundling Teams with office software

Avatar photo

Published

on

European Union accuses Microsoft of breaching antitrust rules by bundling Teams with office software

LONDON (AP) — Microsoft violated European Union antitrust rules with “possibly abusive” practices by tying its Teams messaging and videoconferencing app to its widely used business software, the bloc said.

The European Commission said Monday it informed Microsoft of its preliminary view that the U.S. tech giant has been “restricting competition” by bundling Teams with core office productivity applications such as Office 365 and Microsoft 365.

The commission, the 27-nation bloc’s top antitrust enforcer, said it suspects Microsoft might have granted Teams a “distribution advantage” by not giving customers a choice on whether to have Teams when they purchased the software. The advantage might have been widened by limits on the ability of rival messaging apps to work with Microsoft software, it said.

“We are concerned that Microsoft may be giving its own communication product Teams an undue advantage over competitors, by tying it to its popular productivity suites for businesses,” Margrethe Vestager, the commission’s executive vice-president for competition policy, said in a statement.

“And preserving competition for remote communication and collaboration tools is essential as it also fosters innovation on these markets.”

The commission took aim at Microsoft a day after accusing Apple of breaching the bloc’s new digital competition rulebook, in a flurry of regulatory action underlining Brussels’ leading role as a watchdog for Big Tech companies.

Microsoft made some changes last year in an effort to head off an penalty, including offering the software packages without Teams for European customers. But the commission said Tuesday the changes are not enough to address its concerns and that it needs to do more to “restore competition.”

“Having unbundled Teams and taken initial interoperability steps, we appreciate the additional clarity provided today and will work to find solutions to address the Commission‘s remaining concerns.” Microsoft President Brad Smith said in a prepared statement.

Advertisement
Submit your 2022 Austin Neighborhood Feedback

In April, the company also gave customers worldwide the option to get Microsoft 365 and Office 365 without Teams. The two software suites include programs like Word, Excel and Outlook.

Microsoft now has a chance to respond to the accusations, formally known as a statement of objections, before the commission makes its final decision. The company could face a fine worth up to 10% of its annual global revenue, or be forced to carry out “remedies” to satisfy the competition concerns.

The commission opened its investigation in July 2023 after rival Slack Technologies, which makes popular workplace messaging software, filed a complaint with Brussels. Alfaview, which makes videoconferencing software, also filed a separate complaint.

Slack, owned by business software maker Salesforce, had alleged that Microsoft abused its market dominance to eliminate competition — in violation of EU laws.

“The Statement of Objections issued today by the European Commission is a win for customer choice and an affirmation that Microsoft’s practices with Teams have harmed competition,” Salesforce President Sabastian Niles said. “We appreciate the Commission’s thorough investigation of Slack’s complaint and urge the Commission to move towards a swift, binding, and effective remedy that restores free and fair choice and promotes competition, interoperability, and innovation in the digital ecosystem.”

Read More

Continue Reading