Global Eagle to cancel $416 million deal with Chinese firm over national security concerns, Guidance Software acquired for $240 million, and Elon Musk reveals car elevator at Boring Co. site.

Global Eagle to Cancel $416 Million Deal With Chinese Firm Over National Security Concerns

National security concerns have forced Global Eagle Entertainment, an in-flight Wi-Fi service, to cancel a $416 million investment agreement with China’s Beijing Shareco Technologies to create a new joint venture for the Chinese market, reports the Business Journal. Marina del Rey’s Global Eagle announced the development in a Securities and Exchange Commission filing on Tuesday.

Guidance Software Acquired for $240 Million

OpenText, a content management system developer, announced Wednesday that it planned to buy forensic security company Guidance Software of Pasadena for $240 million, reports TechCrunch. Guidance Software’s forensic programs help companies track computer viruses and learn how they spread within their systems.

Elon Musk Reveals Car Elevator at Boring Co. Site

Elon Musk revealed a functional car elevator at the Boring Co.’s test tunnel in Hawthorne, per an Instagram video. Musk has proposed a sled system within Boring Co.’s tunnels which would transport cars underground.

Technology reporter Garrett Reim can be reached at greim@labusinessjournal.com. Follow him on Twitter @garrettreim for the latest in L.A. tech news.