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Broadcast Deal Market Recap, Q1, 2022

Nexstar-Tribune merger gets DOJ approval; Salesforce completes Tableau purchase

S&P Global Market Intelligence provides a wrap-up of U.S. companies' technology, media and telecommunications deal announcements, completions and updates from July 29 to Aug 5.


* Fox Corp. agreed to acquire a 67% stake in consumer finance marketplace operator Credible Labs Inc., for about $265 million. Fox Corp. will invest up to $75 million in Credible Labs over about two years after the completion of the deal, which is expected to be in the fourth quarter. Credible Labs founder and CEO Stephen Dash will exchange shares equivalent to 33% of Credible Labs' outstanding common stock into units of a newly created Fox Corp. unit, subject to certain approvals from the Australian Securities Exchange.

* Eurazeo SE is buying cloud-based digital supply network Elemica Inc. from private equity firm Thoma Bravo LLC for an undisclosed sum. The transaction is set to complete in the third quarter.

* American Express Co. agreed to acquire acompay, a digital payment automation platform, from ACOM Solutions Inc. The transaction, financial terms of which were not disclosed, is expected to close in the second half of 2019.

* Inc. struck a deal to acquire Israeli storage technology startup E8 Storage, which develops storage architecture for the enterprise and software-defined cloud. E8 Storage's employees will join Amazon Web Services development center in Tel Aviv, Israel, following the acquisition.

* Sphera Solutions Inc., a provider of integrated risk management software and information services, is acquiring Germany-based software and consulting services company Thinkstep AG. The financial terms of the deal, which is subject to customary German regulatory approvals, were not disclosed.

* GTCR LLC is buying broadband communication services provider Vyve Broadband LLC from BBH Capital Partners for an undisclosed sum. The private equity firm is also buying the broadband assets of Eagle Communications Inc.

* Public relations and marketing firms PMK-BNC Inc. and Rogers & Cowan Inc. will merge to form an integrated marketing and communications agency. The combined agency will include a roster of over 500 actors, musicians, producers, directors, content creators and athletes, as well as over 30 brands.


* S&P Global Inc. completed the purchase of the Orion technology center from Ness Technologies Inc. in July. Orion was developed to become S&P Global's center of excellence for technology talent.

* Lower-middle-market private equity firm DFW Capital Partners Inc. acquired The Vertex Group, which provides customer information system services to the utility industry, for an undisclosed sum.

* inc. completed its $15.7 billion all-stock acquisition of data analytics company Tableau Software Inc. The companies will remain operationally separate until the U.K. Competition and Markets Authority completes a review of the transaction.

* An investor group led by venture capital firm ClearSky has acquired technology solutions provider Altamira Technologies Corp., a provider of analytics and engineering solutions to the U.S. national security community. Financial terms of the deal were not disclosed.

* Microsoft Corp. has bought BlueTalon Inc., a provider of unified data access control services for modern data platforms, for an undisclosed sum. The BlueTalon team is now part of Microsoft's Azure Data Governance group.

* Middle-market private equity firm Halyard Capital Management LLC sold OAE Software LLC, which provides human resources and payroll services for restaurants, to restaurant management platform Toast Inc. Financial terms of the deal were not disclosed.


* Zayo Group Holdings Inc. reported the early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 in connection with the proposed acquisition of the company by affiliates of Digital Colony Partners LP and the EQT Infrastructure IV fund. The termination of the waiting period under the HSR Act satisfies one of the conditions to the closing of the pending transaction.

The closing of the deal continues to be subject to other conditions and the receipt of certain foreign antitrust approvals, as well as Federal Communications Commission and state public utility commission approvals.

* The U.S. Department of Justice on July 31 conditionally approved Nexstar Media Group Inc.'s pending merger with Tribune Media Co. It requires the broadcasters to divest TV stations in 13 markets as a condition of closing the deal. "Without the required divestitures, Nexstar's merger with Tribune threatens significant competitive harm to cable and satellite TV subscribers and small businesses," Makan Delrahim, head of the Justice Department's antitrust division, said in a news release.

In hopes of winning regulatory approval for the deal, Nexstar and Tribune had already committed to a number of divestitures in various markets.