Tech Voices: PubMatic sues Google, Infleqtion SPAC deal, Netskope IPO

PubMatic has filed a lawsuit against Google, claiming that the company engages in monopolistic practices in the advertising technology sector, which harms competition and publisher monetization while increasing costs for advertisers.

The lawsuit follows a federal court ruling that identified Google's anticompetitive behavior in the publisher ad server and ad exchange markets, as stated by PubMatic's CEO.

Infleqtion plans to go public through a merger with Churchill Capital Corp. X, valuing the company at $1.8 billion and expected to raise $540 million in gross proceeds.

Netskope is pursuing an initial public offering (IPO) targeting approximately $813 million, offering shares priced between $15 and $17, with plans to list on Nasdaq under the ticker NTSK.

Technology Sector Impact Report: An Overview of Key Developments

PubMatic has initiated legal action against Alphabet’s (NASDAQ:GOOG) (NASDAQ:GOOGL) Google, alleging monopolistic practices within certain advertising technology markets.

Rajeev Goel, Co-Founder and CEO of PubMatic, stated, "Google’s systematic abuse of its vast resources and immense power has wounded our business while distorting a marketplace that should have fostered innovation, transparency, and competition. Instead, these anticompetitive actions have curtailed monetization for publishers, inflated costs for advertisers, and ultimately diminished consumer choice."

This lawsuit comes on the heels of an April federal court ruling that identified Google's engagement in anticompetitive practices within the publisher ad server and ad exchange domains.

Additionally, the quantum computing firm Infleqtion has announced plans to go public through a merger with Churchill Capital Corp. X (NASDAQ:CCCX), in a deal that values Infleqtion at $1.8 billion. This transaction is expected to yield gross proceeds of $540 million for Infleqtion, pending approval from Churchill's shareholders.

Upon completion of the merger, shares of the newly combined entity are projected to trade on a prominent North American exchange under the ticker symbol INFQ.

In another significant development, Netskope (NTSK), a company specializing in AI-driven cybersecurity solutions, has outlined its initial public offering (IPO) terms, aiming to raise approximately $813 million.

According to its latest filing with the Securities and Exchange Commission (SEC), Netskope is set to offer 47.8 million shares priced between $15 and $17 each. Notable underwriters for this offering include Morgan Stanley, J.P. Morgan, BMO Capital Markets, TD Cowen, Citizens Capital Markets, Mizuho, RBC Capital Markets, Wells Fargo Securities, and Deutsche Bank Securities.

Netskope initially filed for the IPO in August and intends to list its shares on Nasdaq under the symbol NTSK.