Mergers & Acquisitions

Why AeroVironment Is Buying Tomahawk Robotics For $120 Million

By Amit Chowdhry ● Aug 24, 2023

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 Buying Timber Pharmaceuticals In A Deal Valued Up To $36 Million

By Dan Anderson ● Aug 21, 2023

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 Buying Earthstone Energy In A $4.5 Billion Deal: Details

By Amit Chowdhry ● Aug 21, 2023

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 Buying PhenomeX In A $108 Million Deal

By Noah Long ● Aug 20, 2023

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.

Why Tapestry Is Buying Capri For $8.5 Billion

By Annie Baker ● Aug 20, 2023

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.

Why Emerson Is Buying Afag

By Annie Baker ● Aug 19, 2023

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 Buying Sales Engagement Leader Groove: Details

By Amit Chowdhry ● Aug 19, 2023

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.

Why Energy Transfer Is Buying Crestwood For $7.1 Billion

By Amit Chowdhry ● Aug 19, 2023

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.

The Arena Group Signs Binding LOI To Combine With Bridge Media Networks

By Amit Chowdhry ● Aug 16, 2023

The Arena Group Holdings, a technology platform and media company home to over 265 brands, including Sports Illustrated, TheStreet, Parade Media, Men’s Journal, and HubPages, announced that it had signed a binding letter of intent with Simplify Inventions, LLC and its founder Manoj Bhargava, founder of 5-hour ENERGY, to acquire certain assets of its subsidiary Bridge Media Networks, a privately held media group with two national television networks distributed across more than 100 owned and affiliated Over-The-Air (OTA) stations, 35 OTT, CTV agreements, and multiple MVPD and cable agreements, creating a well-capitalized, growing media leader with digital, commerce, print and video capabilities all supported by a unified technology platform.

Occidental Buying Direct Air Capture Technology Company Carbon Engineering For $1.1 Billion

By Amit Chowdhry ● Aug 16, 2023

Occidental recently announced that a wholly owned subsidiary has entered into a definitive purchase agreement to buy all the outstanding equity of Carbon Engineering Ltd. for total cash consideration of approximately $1.1 billion, to be made in three approximately equivalent annual payments, with the first at closing. This deal is expected to close before the end of 2023, subject to Canadian court reviews, Canadian and U.S. regulatory approvals, and other customary closing conditions.

Chesapeake Energy Selling Remaining Eagle Ford Assets To SilverBow Resources For $700 Million

By Amit Chowdhry ● Aug 15, 2023

Chesapeake Energy Corporation recently announced that it has executed an agreement to sell its remaining Eagle Ford assets to SilverBow Resources for $700 million, bringing the total proceeds from its Eagle Ford exit to more than $3.5 billion.

MSCI Buying Burgiss For $697 Million In Cash

By Amit Chowdhry ● Aug 15, 2023

MSCI - a leading provider of mission-critical decision support tools and services for the global investment community - recently announced it has entered into a definitive agreement to acquire the remaining 66% of The Burgiss Group, LLC for $697 million in cash. Burgiss is a Hoboken, New Jersey-based market-leading provider of data, analytics, and technology solutions for investors in private assets. Since its initial investment in January 2020, MSCI will have invested $913 million to acquire all of Burgiss.

Harmony Biosciences Buying Zynerba Pharmaceuticals For Up To $200 Million

By Amit Chowdhry ● Aug 14, 2023

Harmony Biosciences Holdings - a pharmaceutical company dedicated to developing and commercializing innovative therapies for patients with rare neurological diseases - recently announced a definitive agreement to acquire Zynerba Pharmaceuticals (Nasdaq: ZYNE), a leader in innovative pharmaceutically produced transdermal cannabinoid therapies for orphan neuropsychiatric disorders, including Fragile X syndrome (FXS).

Roper Technologies Buying Syntellis Performance For $1.25 Billion: Details

By Amit Chowdhry ● Aug 12, 2023

Roper Technologies recently announced that it completed the acquisition of Syntellis Performance Solutions for a net purchase price of $1.25 billion, including a $135 million tax benefit resulting from the transaction. And the net purchase price represents approximately 15 times Syntellis’ expected 2024 EBITDA.

Why Rubrik Is Buying Data Security Posture Management Leader Laminar

By Amit Chowdhry ● Aug 12, 2023

Zero Trust Data Security company Rubrik recently announced it has signed an agreement to acquire Laminar, a leading data security posture management (DSPM) platform.

Playtika Buying The Youda Games Portfolio From Azerion

By Amit Chowdhry ● Aug 9, 2023

Playtika Holding, a mobile games pioneer and interactive entertainment leader, and Azerion Group N.V., one of Europe’s largest digital advertising and entertainment media platforms, announced recently they have entered into a definitive agreement for Playtika to acquire from Azerion its Youda Games portfolio of games, including social card themed title Governor of Poker 3, for an initial cash consideration of EUR 81.3 million, with an earnout based on the performance of the acquired business that could take the total consideration up to a maximum of EUR 150 million, subject to customary adjustments.

Inspera Buying AI Authorship Detection Company Crossplag

By Amit Chowdhry ● Aug 9, 2023

Inspera - a leading provider of digital assessment solutions - recently announced the strategic acquisition of Crossplag, a powerful tool for originality checking and AI authorship detection. And Inspera's cloud-based assessment ecosystem offers a comprehensive suite of capabilities for seamless assessments, from planning and design to delivery and grading across various formats. The assessment types include formative, summative, and diagnostic exams, coursework, tests, quizzes, term papers, etc.

Campbell Buying Sovos Brands In $2.7 Billion Deal

By Amit Chowdhry ● Aug 8, 2023

Campbell Soup Company and Sovos Brands recently announced that the companies have entered into an agreement for Campbell to acquire Sovos Brands, Inc. for $23 per share in cash, representing a total enterprise value of approximately $2.7 billion. This deal represents a 14.6x adjusted EBITDA multiple, including expected annual run rate synergies of approximately $50 million. The strategic deal adds a high-growth, market-leading premium portfolio of brands to diversify and enhance Campbell’s Meals & Beverages division, providing a substantial runway for sustained profitable growth.

PacBio To Buy Apton Biosystems In Deal Up To $110 Million

By Annie Baker ● Aug 7, 2023

PacBio - a leading developer of high-quality and highly accurate sequencing solutions - recently announced that it has agreed to acquire Apton Biosystems, a company developing a high throughput short-read sequencer using state-of-the-art optics and image processing, paired with novel clustering and chemistry, that is designed to enable the sequencing of billions of clusters of DNA on one flow cell.

Sprout Social Acquires Tagger Media In $140 Million Deal

By Amit Chowdhry ● Aug 7, 2023

Sprout Social, an industry-leading social media management software provider, recently announced the acquisition of Tagger Media, a leading influencer marketing and social intelligence platform. This acquisition will further establish Sprout as the social media software market leader with a comprehensive platform that empowers brands to execute a holistic social strategy at scale.

Lionsgate And Hasbro Buying Independent Content Platform eOne In A $500 Million Deal

By Annie Baker ● Aug 6, 2023

Lionsgate (NYSE: LGF.A, LGF.B) and Hasbro (NASDAQ: HAS) recently announced that they have signed an agreement under which Lionsgate will acquire the independent content platform eOne in a transaction valued at approximately $500 million, comprised of cash of $375 million subject to additional purchase price adjustments, and the assumption of production financing loans. This agreement is subject to customary closing conditions.

New Relic Being Taken Private By Francisco Partners And TPG For $6.5 Billion: Details

By Amit Chowdhry ● Aug 5, 2023

New Relic (NYSE: NEWR) - an all-in-one observability platform for every engineer - recently announced that it has entered into a definitive agreement to be acquired by Francisco Partners, a leading global investment firm that specializes in partnering with technology businesses, and TPG, a leading global alternative asset management firm, for $87.00 per share in cash. The all-cash transaction values New Relic at an equity valuation of approximately $6.5 billion.

Rithm Capital To Buy Sculptor Capital Management For $639 Million

By Noah Long ● Jul 28, 2023

Rithm Capital (RITM), an asset manager focused on the real estate and financial services industries and Sculptor Capital Management Inc. (SCU), a global alternative asset manager with $34 billion in assets under management (AUM), recently announced entry into a definitive agreement under which Rithm will acquire Sculptor in a transaction valued at approximately $639 million, which includes $11.15 per Class A share of Sculptor.

H.I.G. Capital Buying RBmedia From KKR

By Annie Baker ● Jul 28, 2023

KKR and H.I.G. Capital announced that an affiliate of H.I.G. will acquire RBmedia and support its next phase of growth and development. RBmedia is the leading audiobook publisher in the world, with a robust digital distribution network that reaches millions of listeners around the globe.

Public Storage Acquiring Simply Self Storage For $2.2 Billion From Blackstone

By Amit Chowdhry ● Jul 25, 2023

Self-storage company Public Storage announced it entered a deal to acquire Simply Self Storage from Blackstone Real Estate Income Trust (BREIT) for $2.2 billion.

Kearney Buying Silicon Foundry For Expanding Strategic Transformation And Innovation

By Amit Chowdhry ● Jul 24, 2023

Kearney - a leading global management consulting firm - recently announced the acquisition of Silicon Foundry. And this acquisition represents the firm's commitment to helping C-suite executives truly transform their organizations by providing corporate executive leaders worldwide with access to the most cutting-edge new technologies, start-ups, and venture investors at the core of the innovation ecosystem.

KKR Buying Protective Materials Company Chase Corporation For $1.3 Billion

By Amit Chowdhry ● Jul 24, 2023

Chase Corporation (NYSE American: CCF) - a leading global manufacturer of protective materials for high-reliability applications across diverse market sectors - recently announced that it has entered into a definitive agreement to be acquired by an affiliate of investment funds managed by KKR, a leading global investment firm. This all-cash transaction is valued at approximately $1.3 billion, including the assumption of debt.

Scaleworks Buys Full Circle Insights And Names New CEO

By Amit Chowdhry ● Jul 20, 2023

Scaleworks - a B2B SaaS-focused venture equity firm - recently announced its acquisition of Full Circle Insights. It is known for helping companies drive pipeline growth through their marketing attribution and campaign measurement platform. And Scaleworks' investment and partnership will accelerate Full Circle's strategic roadmap, enable product innovation, and enhance go-to-market strategy.

Nava Benefits Buys Nielsen Benefits Group

By Amit Chowdhry ● Jul 17, 2023

Nava Benefits - a modern benefits brokerage focused on making great benefits easy for mid-sized employers - announced the acquisition of Nielsen Benefits Group (NBG), an award-winning benefits consulting firm with a proven track record of designing innovative benefits solutions that lower costs for mid-sized employers. This strategic move will unite two forward-thinking companies with a vision for how technology can revolutionize the benefits service delivery model for employers and improve the member experience.

Kahoot! To Go Private In About A $1.7 Billion Deal

By Amit Chowdhry ● Jul 16, 2023

Norway-based educational technology company Kahoot announced it agreed to a buyout valued at about $1.72 billion (17.2 billion Norweigian crowns) by Goldman Sachs Asset Management's private equity arm and a group of other investors. This deal is about a 53% premium to the company’s share price as of May 22.