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Rapid7 Nears Settlement with Activist Investor Jana Partners

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Rapid7, a cybersecurity company, is nearing a settlement with activist investor Jana Partners following discussions about boosting the company’s share price and exploring strategic options, including a potential sale. Under the terms being discussed, three new members would be added to Rapid7’s eight-member board, sources familiar with the matter told Reuters.

An agreement could be finalized as early as Monday, though the situation remains fluid, according to the sources. Neither Rapid7 nor Jana Partners commented on the negotiations.

The Boston-based company, which specializes in vulnerability management, has faced challenges as its stock has dropped 41% over the past 52 weeks and 28% this year, bringing its market value down to approximately $1.8 billion. Jana Partners owns a 5.8% stake in Rapid7, according to a March regulatory filing.

In addition to the ongoing settlement talks, Rapid7 had previously attracted acquisition interest from buyout firms like Advent, Bain Capital, and EQT.

FCC Investigates Chinese Tech and Telecom Firms for Potential Evasion of US Restrictions

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The Federal Communications Commission (FCC) has launched an investigation into nine Chinese companies, including Huawei Technologies, ZTE, Hangzhou Hikvision, China Mobile, China Telecom, and others, to determine whether they are attempting to circumvent U.S. restrictions. These companies are currently listed on the FCC’s “Covered List,” which designates certain communications equipment and services as national security threats.

FCC Chair Brendan Carr stated that the companies may still be operating in the U.S. due to their belief that the FCC’s restrictions do not prohibit certain types of operations. Other companies under scrutiny include Hytera Communications, Dahua Technology, Pacifica Networks/ComNet, and China Unicom (Americas). This investigation is the latest move in a broader U.S. effort to combat perceived national security risks posed by Chinese telecom and technology firms.

The FCC has already barred these companies from providing telecommunications services in the U.S. due to national security concerns. However, Carr expressed concerns that some of the firms may be continuing business in America through private or “unregulated” channels. The FCC is investigating whether these companies are evading the restrictions and is taking steps to close any potential loopholes.

The agency has sent Letters of Inquiry and at least one subpoena to the companies, seeking detailed information about their ongoing activities in the U.S. and any potential assistance from other companies aiding their operations. Last year, the FCC also took steps to enhance the security of the Border Gateway Protocol (BGP) after U.S. agencies accused China Telecom of exploiting BGP vulnerabilities to misroute U.S. internet traffic.

Baidu Denies Data Breach Amid Controversy Over Executive’s Daughter

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Baidu, one of China’s largest search and cloud service providers, has denied allegations of an internal data breach after the teenage daughter of a senior executive was accused of posting personal information online. The controversy erupted when social media users alleged that the daughter of Baidu vice president Xie Guangjun had leaked private details, including phone numbers, during an online dispute.

In response, Baidu stated that neither employees nor executives have access to user data and that the leaked information originated from illegally obtained databases hosted on foreign platforms. The company also announced that it had filed a police report to counter misinformation, including claims that Xie’s daughter had access to Baidu’s databases.

Xie, a member of Baidu’s cloud division, apologized for his daughter’s actions, asserting that she had acquired the data from overseas social media sites. His statement, reported by Chinese media, was shared on his personal WeChat account.

The incident comes as China tightens data security laws to curb the sale of private information, an issue exacerbated by illicit data brokers. The controversy has impacted Baidu’s stock performance, with shares dropping over 4% in Hong Kong trading on Thursday morning.