Thoma Bravo sells Ellie Mae to Intercontinental Exchange in deal worth $11B
August 7, 2020
Thoma Bravo, a private equity investment firm founded by Puerto Rican entrepreneur Orlando Bravo, announced the sale of its portfolio company Ellie Mae to Intercontinental Exchange (ICE), in a deal worth $11 billion. Ellie Mae, based in Pleasanton, CA with approximately 1,700 employees, was founded in 1997 with a mission to automate and digitize the […]
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Musical Arts Corp. launches business training project for musicians
August 3, 2020
The Musical Arts Corporation (CAM, in Spanish) and the Institute of Puerto Rican Culture (ICP, in Spanish) will collaboratively hold a series of keynote conferences called “Musical Factories,” to train and offer entrepreneurial tools to professional and developing musicians. This new training project will be an extension to the ICP Cultural Factories initiative, and participation […]
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Documentary series on demographic changes in Puerto Rico premieres
July 31, 2020
During the decade from 2010 to 2019, Puerto Rico lost 14% of its population. What forced Puerto Ricans to emigrate? On July 26, the first part of the “Beyond the Census: The Demographic Crisis of Puerto Rico,” premiered on the YouTube platform. The documentary series presents the factors associated with the emigration of Puerto Ricans […]
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CBP seizes 100 fake Nintendo Mini consoles in Aguadilla
July 29, 2020
U.S. Customs and Border Protection San Juan Field Operations announced the seizure of 100 counterfeit Nintendo Mini Gaming consoles inside a parcel package coming from Hong Kong into the Rafael Hernández International Airport Cargo facility. The estimated manufacturer suggested retail price of the seized products is about $326,000, had the goods been genuine, the […]
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World Central Kitchen announces 5th round of grants in Puerto Rico
July 27, 2020
World Central Kitchen announced its fifth round of grants in Puerto Rico through Plow to Plate, the organization’s food security and resilience program that provides direct financial support to small farmers, fishermen, and food businesses. The subsidies granted support small businesses related to food production in an effort to regenerate their long-term capacity for the […]
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Caño Martín Peña infrastructure project preselected for $66M in mitigation funds
July 27, 2020
The Paseo del Caño Sur Project in Israel-Bitumul was preselected by the Central Office of Recovery, Reconstruction and Resiliency, known as COR3, to access federal funds from the Hazard Mitigation Grant Program- Section 404 of the Federal Emergency Management Agency. If selected, the Paseo del Caño Sur, which requires an investment of $66 million, would […]
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Study: Co.’s in Puerto Rico embrace hybrid work trend during pandemic
July 23, 2020
A hybrid model that combines office work and remote work is the predominant trend among companies in Puerto Rico during the COVID-19 pandemic, according to a survey conducted this summer by Puerto Rican consulting firm Retention Strategies. The results showed that only a third (32%) of the companies surveyed have managed to fully reopen their […]
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PathStone Enterprise Center to help 150 local co.’s land gov’t contracts
July 22, 2020
Nonprofit organization PathStone Enterprise Center Inc. announced the official launch of its Technical Assistance Program for Government Procurement, through which 150 small businesses in Puerto Rico will be trained free of charge to compete for contracts with the federal and state governments directly or as subcontractors. With a $3.8 million grant from the U.S. Economic […]
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Puerto Rico moves up in Economic Freedom Index
July 21, 2020
The Center for Economic Renewal, Growth and Excellence (CRECE, for its acronym in Spanish) unveiled the results of the 2019 Economic Freedom Index for Puerto Rico, which showed that the island ranked 69 out of 180 countries with a score of 64.4, representing an increase of 3.4 points vs. 2018. Based on The Heritage Foundation […]
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Isla Frio Refrigeration Corp. investing $6M to develop former PepsiCo plant in Cidra
July 17, 2020
Puerto Rican firm Isla Frio Refrigeration Corp. announced its acquisition of the former PepsiCo plant in the town of Cidra, which it will split into several areas for different services. In all, the firm invested $3 million in the property that closed down after Hurricane María pummeled the island in 2017. The property did not […]
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Affordable housing developer ACRUVA Capital Partners enters Puerto Rico market
July 17, 2020
ACRUVA Capital Partners announced it has entered the Puerto Rico market to lease, option, or buy land to develop affordable housing communities, as well as to acquire, rehabilitate and re-syndicate affordable housing communities in strategically selected markets. ACRUVA Capital Partners was formed as a joint venture with the support of Alliant Capital, its long-term financial […]
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Triple-S Foundation unveils ‘Alimenta tu cuerpo, Alimenta tu alma’ recipe book
July 17, 2020
Triple-S Foundation, a nonprofit dedicated to addressing two social determinants of health — food insecurity and emotional wellbeing, in particular social isolation — unveiled the “Alimenta tu cuerpo, Alimenta tu alma” (“Feed your body, Feed your mind” recipe book, which will be available for free at alimentatepuertorico.com. “With this publication we continue to work on […]
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Piloto 151 launches coworking pop-up in O:LV 55 Hotel in Condado
July 16, 2020
Puerto Rican coworking firm Piloto 151 announced a new alliance with O:LV 55 Hotel and the opening of a pop-up concept that can serve both guests and the new O:LV residences, as well as Piloto members. “This new partnership brings us even closer to the hospitality industry, which continues to gain traction in work environments. […]
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Avon donates $16M to nonprofits, including $1.3M to local doctor’s alliance
July 16, 2020
Avon announced it has donated more than $16 million worth of products to numerous charitable organizations as part of its “continuing commitment to giving back and making a positive impact on the world.” Donations include AMAR in Puerto Rico and Avon’s longtime partner, Feed the Children. “Both organizations are crucial right now in providing supplies […]
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Enactus Puerto Rico marks 15 yrs. of developing leaders
July 16, 2020
Enactus Puerto Rico, an international nonprofit whose mission is to build future leaders is marking its 15th anniversary on the island, where it has overseen scores of new projects, organizers said. As part of its mission of developing leaders, entrepreneurs and innovative projects that address community needs, participants have created projects from services to elderly, […]
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