The Centennial State is known for its booming space and oil and gas industries. Last week, two big players in these sectors announced moves, including a $7.6 billion acquisition. Catch up on the latest tech news with the Built In Colorado Weekly Refresh.
Chevron announced it will acquire PDC Energy. In a deal worth $7.6 billion, Chevron will add land from Denver-based PDC Energy to its ranks. Chevron will gain 275,000 acres across a Weld County oil field and 25,000 acres across a Texas oil field. The acquisition will create the largest oil and gas company in the state and is said to increase Chevron’s cash flow by $1 billion. [The Colorado Sun]
Colorado Tech Quote of the Week
“We’re thrilled to make commitments that harness the ingenuity, creativity and innovative spirit of American manufacturing. All of Apple’s products depend on technology engineered and built here in the United States, and we’ll continue to deepen our investments in the U.S. economy because we have an unshakable belief in America’s future.” — Tim Cook, Apple’s CEO
Broadcom and Apple entered a new partnership. The two entities struck up a multiyear, multibillion-dollar partnership in which tech and manufacturing company Broadcom will develop 5G radio frequency components for Apple’s products. One of Broadcom’s major facilities is located in Fort Collins. Broadcom will benefit by investing in automation projects and upskilling engineers. [Apple]
Butterflye Solutions launched. The Denver-based startup’s communication software helps teams work faster and more efficiently and boosts engagement among stakeholders. The platform also features an artificial intelligence-backed SWOT analysis tool. Butterflye is co-founded by former Zoom employees and has already raised $280,000 in a pre-seed round. [AP News]
Ursa Major partnered with the Air Force Research Laboratory. Ursa Major specializes in rocket propulsion technology. The company announced a new partnership with the Air Force Research Lab to further the nation’s hypersonics defense programs and space launch capabilities. As part of the deal, Ursa Major will build and test a prototype of its Draper hypersonics engine and develop a thrust engine. [PR Newswire]
