M and A Navigator: Deal pipeline -21 March.

M2 EQUITYBITES-March 21, 2017-M and A Navigator: Deal pipeline -21 March

(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:

-OUTBOUND ENGINE COMPLETES INTEGRATION OF CANADIAN RE, MORTGAGE LIVE CHAT SERVICE READYCHAT

Texas, US-based business marketing platform company OutboundEngine has acquired and integrated Canadian real estate and mortgage industry web-based live chat service ReadyChat, the company said.

Formally acquired by OutboundEngine in December 2015, ReadyChat remained in stealth mode while OutboundEngine integrated the service. OutboundEngine is now launching this new service in addition to a company rebranding that reflects the new, broader scope of the platform.

Status: Closed

-EPUS GLOBAL ENERGY ACQUIRES PRODUCING ILLINOIS BASIN OIL ASSETS

US-based energy company Epus Global Energy's EGE Opportunity Fund 1 LP affiliate has purchased income producing assets located in the Illinois Basin, the company said.

The deal includes interests in 20 oil wells, with initial distributions to begin June 2017. Epus said the targeted annual distribution rate is 8-14% and the estimated monthly distribution will be USD 160-USD 250 per USD 25,000 unit.

Status: Closed

-NORSAT CONFIRMS USD 10.25/SHARE BUYOUT FEELER FROM PRIVET FUND MANAGEMENT

Canadian communication solutions company Norsat International Inc. (TSX: NII) (NYSE MKT: NSAT) has received a non-binding letter of interest from US-based Privet Fund Management LLP to buy the company for cash consideration of USD 10.25 per share, the company said.

Last September, Norsat said it was considering USD 8.00 per share potential offer from Privet Fund Management. This would indicate an increased offer. Privet holds or controls around 17.6% of the outstanding common shares of Norsat. Norsat was then trading at around CDN 7.82, and has a market cap of around CDN 45.09m (USD 34.15m). As of 20 March 2017, Norsat was trading at USD 9.66/share, with a market cap of USD 76.04m.

Status: Bidding

-XG TECHNOLOGY PAYS OFF DEBT FROM USD 16M ACQUISITION OF UK LIVE VIDEO SPECIALIST VISILINK

Florida, US-based "challenging environments" wireless communications company xG Technology, Inc (NASDAQ: XGTI) has reached an agreement with Pebble Beach Systems for extinguishing the remaining deferred debt from the company's acquisition of Hungerford, United Kingdom-based Vislink, Plc's Vislink Communication Systems division, the company said.

In January, xG Technology closed its acquisition of the assets of Vislink Communication Systems. As of this week, all deferred payments due from xG against the original promissory notes covering the acquisition of Vislink are now settled in full, and all liens are released, xG said.

Status: Closed

-MARYLAND LOTTERY AND GAMING REGULATOR CLEARS MERGER OF CAESARS ENTERTAINMENT, CAESARS ACQUISITION

The Maryland Lottery and Gaming Control Commission has approved Las Vegas, US-based casino operator Caesars Entertainment Corp.'s (NASDAQ: CZR) proposed merger with special acquisition vehicle Caesars Acquisition Company (NASDAQ: CACQ), the company said.

Completion of the merger is a critical step to concluding the restructuring of Caesars Entertainment Operating Company. Caesars Entertainment and Caesars acquisition continue to engage with their respective regulators in jurisdictions where approvals are required for the merger and other aspects of CEOC's restructuring.

Status: Agreed

-SHAREHOLDERS OF BAY BANKS OF VIRGINIA, VIRGINIA BANCORP APPROVE MERGER

Shareholders of Virginia-based bank holding companies Bay Banks of Virginia, Inc. (OTCQB: BAYK) and Virginia BanCorp Inc have approved the merger of the two companies at separate meetings, the companies said.

Last November, Bay Banks of Virginia agreed to acquire Virginia-based bank Virginia BanCorp Inc. Under the terms of the agreement, Bay Banks will acquire Virginia BanCorp, and Virginia BanCorp shareholders will receive a fixed exchange ratio of 1.178 shares of Bay Banks common stock for each share of Virginia BanCorp common stock. Bay Banks shareholders will own 51% of the combined company, and Virginia BanCorp shareholders will own 49%.

Status: Agreed

-ADVANTAGE SMOLLAN JV TO ACQUIRE GERMAN OUTSOURCING SERVICES FIRM COMBERA

UK-based holding company Advantage Smollan Ltd., a joint venture between Smollan Group SA, Ltd. and Advantage Sales and Marketing LLC, plans to acquire Germany based outsourced services provider Combera Group GmbH to expand its presence in Europe, the company said.

The completion of the acquisition is subject...

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