UPS expands electric fleet with Thor; Cred launches cryptocurrency app; Logitech buys Blue Microphones
United Parcel Service Inc. announced Tuesday it will work with North Hollywood-based Thor Trucks Inc. in an attempt to add more electric vehicles to its fleet. Thor will design and build the battery to be used in the experimental medium-sized delivery truck. Reuters reports the truck will have an average driving range of 100 miles and will be tested by UPS for six months before deciding on a final purchase. In total, UPS operates roughly 93, 000 low-emission and electric vehicles.
Cred, a cryptocurrency investing startup incubated by Santa Monica-headquartered Science Inc. announced the launch of a new mobile app platform June 30. The app will allow users to invest in Bitcoin, Ethereum, and Litecoin for prices as low as $10 as well as track investment progress. In addition, a micro-investing feature the app provides allows users to round up everyday purchases and invest the leftover change in cryptocurrency as well. Socaltech reports the app is available on the App Store and Google Play, and will initially launch in California, Mississippi, Massachusetts and Montana, with more locations to come.
In a deal finalized July 30, Newark and Switzerland-based computer accessory company Logitech Inc. purchased Westlake Village microphone manufacturer Blue Microphones Holdings Corp. for $117 million. The cash deal adds Blue to Logitech’s branded portfolio of audio hardware and software manufacturers which currently contains 15 outfits. The Business Journal reports that the $117 million acquisition of Blue Microphones is one of Logitech’s highest valued to date, second to its purchase of video conferencing software firm Lifesize Communications Inc. for $405 million in 2009.