M and A Navigator: Deal pipeline -24 August.
M2 EQUITYBITES-August 24, 2017-M and A Navigator: Deal pipeline -24 August
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The following is a list of deals covered in detail by M and A Navigator this week:
-US LITHIUM TO ACQUIRE EUROPEAN DEVELOPED BLOCKCHAIN-BASED CRYPTOCURRENCY ASSETS
US-based exploration and development company US Lithium Corp. (OTCQB: LITH) has entered into a letter of intent to purchase blockchain based technology assets from Czech Republic software developer Bank Call s.r.o., the company said.
Under the terms of the agreement LITH will acquire the website kaboomcoin.com, various registered European trademarks and all of the IP associated with kaboomcoin's cryptocurrency wallet. LITH will be paying USD 100,000 in cash and 4.5m shares (USD 202, 320) of LITH for the assets. Kaboomcoin.com is an Etherium based cryptocurrency wallet that caters to the 18-35 demographic and the products they purchase, be them virtual or brick and mortar.
Status: Agreed
-BROOKS AUTOMATION ACQUIRES SOFTWARE ASSETS FROM RURO
US-based automation and cryogenic solutions company Brooks Automation, Inc. (NASDAQ: BRKS) has acquired certain assets from US-based laboratory software developer Ruro, Inc., the company said. These assets include the FreezerPro web-based software which enables access to information on stored samples from any location on any device.
As part of the acquisition, Brooks also entered an exclusive license agreement to sell and distribute Ruro's BioBankPro software which integrates the functionality of FreezerPro with other data sources, often from external sources or instruments used in the workflow of sample-based research. The acquisition is the latest addition to Brooks Life Sciences' portfolio of products, services, and informatics.
Status: Closed
-CNRP MINING MAKES FORWARD PAYMENT FOR X-SPRAYS BRAND OF PRODUCTS
Canadian gold mining and exploration company CNRP Mining Inc. (CSE: CND.CN) (OTC: CRPGF) has advanced USD 300,000 to X-Sprays, inc as part of its deal to acquire the company, the company said. X-Sprays is s brand of products administered via an oral spray delivery system.
On 21 July, CNRP Mining announced it had entered into non-binding letter of intent to acquire all of the issued and outstanding shares of the company. CNRP now anticipates signing a definitive agreement for the acquisition in September 2017.
Status: Agreed
-FRANCE'S ALTRAD INVESTMENT AUTHORITY EXTENDS OFFER FOR UK SERVICES FIRM CAPE
French construction equipment maker Altrad Investment Authority SAS is extending its tender offer for UK-based oil services firm Cape plc (LSE: CIU) until 5 September 2017, the company said.
On 7 July 2017, the boards of directors of Altrad Investment Authority SAS and Cape plc that they had reached agreement on the terms of a recommended cash offer for Cape by Altrad, through its wholly-owned subsidiary, Altrad UK Ltd., pursuant to which Altrad Bidco would acquire the entire issued and to be issued ordinary share capital of Cape. Under the deal, Altrad UK Ltd (Altrad Bidco) will acquire the entire issued and to be issued ordinary share capital of Cape.
Status: Agreed
-PLAYTECH ACQUIRES UK MARKET MAKER ALPHA FROM AUSTRALIA'S ACM
UK-based gambling and financial trading software developer Playtech (LSE: PTEC) has agreed to acquire technology, intellectual property and certain customer assets of UK-based financial dealer and broker Alpha from Australian debt collection firm ACM Group Ltd. as it continues to enhance its Financials Division's B2B offering, the company said.
Consideration for the acquisition comprises an initial up-front payment of USD 5m; two staged payments based on 1 x EBITDA of 2017 and 2018; and contingent consideration based on 5.2 x the 2019 EBITDA, minus the initial payment and 2017 and 2018 payments, with the total consideration capped at USD 150m.
Status: Closed
-UK HEALTH CARE FIRM BUPA TO SELL PART OF CARE HOME BUSINESS FOR GBP 300M
UK-based health and care company the British United Provident Association (BUPA) has agreed to sell part of its UK care home business to UK-based health and social care HC-Onein a transaction totalling around GBP 300m (USD 383.83m), the company said.
This deal is subject to regulatory approval. The sale will see the transfer of 122 care homes to HC-One, a provider of health and social care in the UK. BUPA will retain around 150 care homes and six Richmond Villages caring for over 9,000 residents, with a further four care homes and two retirement villages under construction. BUPA's investment of more than GBP 120m in 2017 into its care homes and retirement villages is in addition to GBP 100m invested in 2016 in building, refurbishing and maintaining its homes.
Status: Agreed
-WPP ACQUIRES BRAND DESIGN AGENCY DESIGN BRIDGE
UK-based advertising and public relations group WPP plc has acquired UK-based brand design agency Design Bridge Ltd., the group said. Founded in London in 1986 - 18 months after WPP was founded - Design Bridge's clients include AkzoNobel, Diageo, Mondelez and Unilever, among others.
In addition to its London headquarters, the agency has operations internationally, with studios in Amsterdam, New York and Singapore, employing around 400 people. Design Bridge will operate as a distinct and independently-positioned brand within the WPP group. The agency's revenues for the year ended 31 December 2016 were approximately GBP40 m, with gross assets of approximately GBP28 m as at the same date.
Status: Closed
-QUESTFIRE ENERGY WINS SHAREHOLDER NOD, FINAL COURT APPROVAL FOR COMBINATION WITH MANITOK ENERGY
Canadian junior oil and gas explorer Questfire Energy Corp.'s (TSX Venture: Q.A) pending acquisition by Canadian junior oil and gas explorer Manitok Energy Inc. has been approved by the holders of Questfire shares and the Court of Queen's Bench of Alberta, the company said.
The USD 55.4m stock deal was announced in July. Questfire held an annual general and special meeting of shareholders on 15 August at which 99.87% of the Questfire shares represented at the meeting were voted in favour of the acquisition. On closing of the acquisition, Questfire shareholders will receive, for each Questfire Share held...
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