M and A Navigator: Deal pipeline -22 February.
M2 EQUITYBITES-February 22, 2017-M and A Navigator: Deal pipeline -22 February
(C)2017 M2 COMMUNICATIONS http://www.m2.com
The following is a list of deals covered in detail by M and A Navigator this week:
-MINDSET VENTURES INVESTS IN EIGHT TECH COMPANIES
California, US-based venture capital firm Mindset Ventures' recently launched early-stage venture capital fund, has just closed its first eight investments in tech startups based in Seattle and Silicon Valley, the firm said.
These include investments in Globatom, Kensci, Funnelbeam, Metric Insights, Aromyx, Crowdmed, Aerial Intelligence and GEO Semiconductor.
Status: Closed
-TECH DATA ACQUISITION OF AVNET'S TECHNOLOGY SOLUTIONS BUSINESS MAY CLOSE BY END OF FEBRUARY
US-based IT distributor Tech Data Corp. (NASDAQ: TECD) may close its acquisition of US-based technology distributor Avnet's (NYSE: AVT) Technology Solutions business by the end of February, the company has confirmed.
According to Tech Data, there has been substantial progress towards meeting the conditions to closing, and, subject to receipt of final regulatory approvals, particularly the European Commission, the acquisition could close by the end of February 2017. Last September, Tech Data entered into a definitive agreement to acquire the Technology Solutions business from Avnet in a transaction valued at approximately USD 2.6bn, the company said.
Status: Agreed
-CINCINNATI BELL'S CBTS UNIT TO ACQUIRE MICHIGAN COMMUNICATIONS FIRM SUNTEL SERVICES
US-based telecommunications company Cincinnati Bell's (NYSE: CBB) CBTS subsidiary has agreed to acquire US-based communications firm SunTel Services, the company said. SunTel Services is a regional provider of network security, data connectivity, and unified communications solutions based in Troy, Michigan.
Following the close of the transaction, SunTel's co-founders Gary Jackson and Don Jackson will continue to lead the organisation and will also spearhead CBTS' expansion in the Michigan market. This transaction will expand CBTS' presence in the Midwest, building on its existing sales offices in Cleveland, Columbus, Indianapolis and Louisville.
Status: Agreed
-INVESTOR GROUP CLOSES ACQUISITION OF US ONLINE JEWELER BLUE NILE
US-based online jeweler Blue Nile (NASDAQ: NILE) has been acquired by an investor group comprised of Bain Capital Private Equity, Bow Street and Adama Partners for USD 40.75 per share in cash, the company said.
The deal is worth around USD 500m. The transaction, originally announced on 7 November 2016, was approved by Blue Nile's shareholders on 2 February 2017. As a result of the completion of the transaction, trading in Blue Nile's common stock on the NASDAQ was be suspended effective 21 February 2017. Blue Nile offers engagement rings, wedding rings, and fine jewelry online.
Status: Closed
-KKR TO BUY MINORITY STAKE IN TELEFONICA'S TELECOMMUNICATION INFRASTRUCTURE BUSINESS TELXIUS
US-based investment firm KKR has agreed to acquire a stake of up to 40% in telecom infrastructure owner and service provider Telxius from Spanish telecommunications company Telefonica, the firm said.
The deal implies an enterprise value of EUR 3.678bn (USD 3.87bn) and is subject to the customary closing conditions. Telxius owns and operates a large portfolio of nearly 16,000 telecommunications towers in five countries. It also manages an international network with approximately 65,000 kilometers of submarine fibre optic cables, of which around 31,000 kilometers are owned by Telxius.
Status: Agreed
-BAE SYSTEMS CLOSES ACQUISITION OF US ENGINEERING FIRM IAP RESEARCH
UK-based defence contractor BAE Systems plc's (LSE: BA) US-based BAE Systems, Inc. unit has completed the acquisition of US-based engineering company IAP Research, the company said.
Based in Dayton, Ohio, IAP Research employs approximately 40 people and has been a key subcontractor to BAE Systems for more than ten years on the EMRG development. IAP is focused on the development and production of electromagnetic launchers, power electronics, and advanced materials.
Status: Closed
-CANADA'S GIVE AND GO PREPARED FOODS BUYS UNITED BAKING'S MUFFIN BUSINESS
Canadian bakery company Give and Go Prepared Foods Corp. has completed its acquisition of the muffin business of United Baking Co., Inc., and its Uncle Wally's LLC and Vision Enterprises, LLC subsidiaries, the company said.
Based in Shirley, New York, Uncle Wally's is a pure-play manufacturer of premium muffins. Uncle Wally's product portfolio features a range of flavours, sizes and packaging formats, and its products are sold through grocery stores and clubs across the US.
Status: Closed
-THE ESCAPE POD BUYS STAKE IN EXPERIENTIAL AGENCY OUTCOLD
Chicago advertising agency The Escape Pod has acquired a stake in experiential marketing agency OutCold, and formed The Escape Pod Group with digital agency partner ORA, the company said.
The Escape Pod, co-founded by ad...
To continue reading
Request your trial