Cisco and Splunk (a cybersecurity and observability leader) recently announced a definitive agreement under which Cisco intends to acquire Splunk for $157 per share in cash, representing approximately $28 billion in equity value.
Austin Russell Forbes Holdings - which is controlled by American innovator and automotive tech pioneer Austin Russell - recently announced that financing for the approximately $800 million acquisition of Forbes Global Holdings from Hong Kong-based Integrated Whale Media Investments (IWM ) is now substantially oversubscribed with over $2 billion of demand primarily from American tech, media, finance, and AI industry leaders and their family offices.
GXO Logistics (the world’s largest pure-play contract logistics provider) and PFSweb (a tech-enabled e-commerce order fulfillment platform based in the US) recently announced they have entered into a definitive agreement pursuant to which GXO will acquire PFSweb for $7.50 per share in cash, representing an equity value of approximately $181 million. The enterprise value is $142 million and includes PFSweb’s cash balance of $39 million at June 30, 2023.
Singtel (Asia's leading communications technology group) and global investment firm KKR reached a definitive agreement under which a fund managed by KKR will commit up to S$1.1 billion (about US$800 million) for a 20% stake in Singtel’s regional data center business. This investment puts the enterprise value of Singtel’s overall regional data center business at S$5.5 billion. Plus, KKR will have the option to increase its stake to 25% by 2027 at the pre-agreed valuation.
Intel Corporation recently announced that it agreed to sell a 10% stake in the IMS Nanofabrication business (IMS) to TSMC. TSMC’s investment values IMS at approximately $4.3 billion, consistent with the valuation of the recent stake sale to Bain Capital Special Situations. Intel will retain majority ownership of IMS, which will continue to operate as a standalone subsidiary under the leadership of CEO Dr. Elmar Platzgummer. The deal is expected to close in the fourth quarter of 2023.
The J. M. Smucker Co. (NYSE: SJM) announced today the signing of a definitive agreement to buy Hostess Brands, Inc. (NASDAQ: TWNK) for $34.25 per share in a cash and stock transaction. This deal represents a total enterprise value of approximately $5.6 billion, which includes approximately $900 million of net debt.
SAP SE and LeanIX GmbH recently announced that SAP has entered into an agreement to acquire LeanIX, a leader in enterprise architecture management (EAM) software. The planned deal helps SAP expand its business transformation portfolio, giving customers access to the tools required for continuous business transformation and facilitating AI-enabled process optimization.
Rockwell Automation - which is the world’s largest company dedicated to industrial automation and digital transformation - recently announced it has signed a definitive agreement to buy Ontario, Canada-based Clearpath Robotics, a leader in autonomous robotics for industrial applications. Autonomous mobile robots (AMRs) are considered the the next frontier in industrial automation and transformation and this acquisition will supercharge Rockwell’s lead in bringing the Connected Enterprise to life.
Saab recently announced that it acquired BlueBear Systems Group Ltd, based in the United Kingdom. The acquisition of all shares in BlueBear is part of Saab’s international growth journey strategy across key markets, which include the United Kingdom, Australia, the United States, and Germany.
Michigan State University Federal Credit Union (MSUFCU) recently announced it has entered into a definitive purchase and assumption agreement with Algonquin, IL-based Algonquin State Bank and its parent holding company, First Algonquin Company. Pursuant to the definitive deal, MSUFCU will purchase all assets and assume all liabilities of Algonquin State Bank. The deal is MSUFCU’s second announced Illinois bank purchase in 2023.
The Goldman Sachs Group recently announced the sale of its Personal Financial Management (PFM) unit to Creative Planning (Creative). Creative is an industry-leading Registered Investment Advisor (RIA) and one of the largest in the country, with over 2,100 employees across its affiliates and $245 billion in combined assets under management and advisement.
e.l.f. Beauty recently announced that it signed a definitive agreement to buy Naturium, a fast-growing, high performance skin care brand for $355 million in a combination of cash and stock, furthering its mission to make the best of beauty accessible to every eye, lip, face and skin concern. This deal is expected to double e.l.f. Beauty’s presence in skin care to about 18% of retail sales. The deal, which is subject to customary closing conditions, is expected to close around September 30, 2023.
Watts Water Technologies - through its subsidiaries, one of the world’s leading manufacturers and providers of plumbing, heating, and water quality products and solutions – recently announced that it has entered into a definitive agreement to acquire Bradley Corporation for $303 million, subject to customary adjustments.
Accenture recently announced that it has acquired ATI Solutions Group (ATI), a Perth-based consulting service provider to the mining, energy, and rail industries. ATI will enhance Accenture’s capabilities in West Australia, where specialized digital and industrial talent is in high demand. The terms of the deal were not disclosed.
KKR and PAG, a leading alternative investment firm focused on Asia Pacific, recently announced the signing of definitive agreements under which PAG will acquire KKR’s controlling interest in Australian Venue Co (“AVC”). Financial terms of the transaction were not disclosed.
Akamai Technologies - a cloud company that powers and protects life online - recently announced that it has acquired assets, including select enterprise customer contracts from StackPath, following StackPath's decision to cease its content delivery network operations.
Sony Interactive Entertainment recently announced that it has agreed to acquire Audeze, a leading audio technology brand and pioneer of high-end gaming headphones. The deal will strengthen SIE’s efforts to continue innovating regarding the audio experience of PlayStation games. Audeze will continue to operate independently and develop multi-platform products while benefiting from being a part of the PlayStation ecosystem.
Subway recently announced that it has entered into a definitive agreement to be acquired by affiliates of Roark Capital. The deal is a major milestone in Subway's multi-year transformation journey as it combines Subway's global presence and brand strength with Roark's deep expertise in restaurant and franchise business models.
Parsons Corporation recently announced that it has acquired Maryland-based cyber and technology company Sealing Technologies in a deal valued at up to $200 million. Launched in 2012, SealingTech expands Parsons’ customer base across the Department of Defense and Intelligence Community and further enhances the company’s capabilities in defensive cyber operations, integrated mission-solutions powered by artificial intelligence (AI), and machine learning (ML); edge computing, and edge access modernization; critical infrastructure protection; and secure data management.
Yahoo recently announced the acquisition of Commonstock, a broker-agnostic social and community-based platform that drives insights for retail investors. This deal advances the power of community for Yahoo Finance, and it will accelerate the brand’s strategy to deliver unparalleled retail investing resources, solutions, and experiences to investors of all skill sets and levels.
Boise Cascade Company recently announced that it has agreed to purchase Brockway-Smith Company (BROSCO), a leading wholesale distributor specializing in doors and millwork. The purchase price for BROSCO, including acquiring its two full-scale distribution centers, is $172 million, subject to certain closing adjustments. Boise Cascade plans to fund the transaction and closing-related expenses from its existing cash balances.
H.I.G. Capital - a leading global alternative investment firm with $58 billion of capital under management - recently announced that one of its affiliates has signed a definitive agreement to acquire Ascent Global Logistics, which is a leading provider of technology-enabled, expedited logistics and supply chain solution services from affiliates controlled by Elliott Investment Management L.P. Ascent’s management team will remain shareholders in the Company. Elliott has also agreed to retain a minority stake in the company.
AeroVironment recently announced its anticipated acquisition of Tomahawk Robotics, a leader in AI-enabled robotic control systems. This acquisition will enable deeper integration of both companies’ technology, leading to enhanced interoperability and interconnectivity of unmanned systems through a singular platform with similar control features.
Leo Pharma recently announced that it signed an agreement to acquire U.S.-listed Timber Pharmaceuticals. And upon closing, this deal will add an attractive late-stage asset to LEO Pharma’s pipeline in medical dermatology. The deal is subject to certain closing conditions, including, but not limited to, Timber Pharmaceuticals’ shareholder approval.
Permian Resources and Earthstone Energy have announced that they have entered into a definitive agreement under which Permian Resources will acquire Earthstone in an all-stock transaction valued at approximately $4.5 billion, inclusive of Earthstone’s net debt.
Bruker Corporation and PhenomeX Inc. recently announced that they have signed a definitive agreement for Bruker to acquire PhenomeX for $1 per share in an all-cash transaction. The proposed deal values PhenomeX at a total equity value of approximately $108 million. PhenomeX is a functional cell biology company that provides single-cell biology research tools to deliver deep insights into cellular function and new perspectives on phenomes and genotype-to-phenotype linkages.
Tapestry (a house of iconic accessories and lifestyle brands consisting of Coach, Kate Spade, and Stuart Weitzman) and Capri Holdings Limited (a global fashion luxury group consisting of Versace, Jimmy Choo, and Michael Kors) recently announced that they have entered into a definitive agreement under which Tapestry will acquire Capri Holdings. Under the terms of the transaction Capri Holdings shareholders will receive $57.00 per share in cash for a total enterprise value of approximately $8.5 billion.
Emerson recently announced a definitive agreement to acquire Afag Holding AG, an innovative leader in electric linear motion, feeding, and handling automation solutions. Based in Zell, Switzerland, Afag will bring state-of-the-art technology and innovation to Emerson.
Clari recently announced it is acquiring Groove, a market leader in sales engagement. And integrating Groove's sales engagement capabilities with Clari's AI-powered Revenue Platform will give companies unprecedented visibility, predictability, and control across the end-to-end revenue process. Customers will immediately reduce tech spend and complexity while increasing pipeline, conversions, and win rates.
Energy Transfer LP and Crestwood Equity Partners LP recently announced that the parties have entered into a definitive merger agreement under which Energy Transfer will acquire Crestwood in an all-equity transaction valued at approximately $7.1 billion, including the assumption of $3.3 billion of debt, based on the closing price on August 15, 2023.