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Meredith completes Fortune media brand sale; Zynga to buy Small Giant Games

S&P Global Market Intelligence provides a wrap-up of U.S. companies' technology, media and telecommunications deal announcements and completions from Dec. 18 to Dec. 23.


* Private equity firm Gryphon Investors signed a definitive agreement to acquire enterprise solution provider RegEd Inc., for an undisclosed sum. Mark Schlageter, Gryphon's executive advisory board member and former Thomson Reuters chief customer officer, will become chairman of RegEd.

* Zynga Inc. agreed to buy Finland-based mobile game developer Small Giant Games Ltd. in a cash-and-stock deal. Zynga will acquire 80% of Small Giant for $330 million in cash and $230 million of unregistered Zynga common stock. Zynga will purchase the remaining 20% share of Small Giant over the next three years for amounts determined by profitability goals, according to a Dec. 20 news release.

* Cinedigm Corp. agreed to sell 125 digital cinema projection systems. This sale is part of the company's plans to monetize the 3,724 systems that it owns, according to a Dec. 19 news release. The company expects to close the sale, financial terms of which were not disclosed, on or about Jan. 15, 2019.

* Cisco Systems Inc. plans to acquire California-based semiconductor company Luxtera Inc. for $660 million in cash and assumed equity awards. Cisco said closing should occur in the third quarter of fiscal 2019, subject to regulatory approvals and customary conditions.

* Gray Television Inc. expects to ring in the new year with a newly expanded footprint after receiving approvals from the U.S. Department of Justice and the Federal Communications Commission for its pending acquisition of Raycom Media Inc. The regulators also signed off on the divestment of certain television stations associated with the deal closing. The transactions are expected to close Jan. 1, 2019, Gray said in a news release.


* Biamp Systems Corp. acquired Cambridge Sound Management LLC, a manufacturer of sound-masking solutions, from Gladstone Investment Corp. Cambridge employees will join the Biamp team, and operations will continue at Cambridge's existing facilities in Massachusetts and Georgia, according to a Dec. 20 news release. Financial details were not disclosed.

* Meredith Corp. closed the sale of the Fortune media brand for $150 million in cash to Fortune Media Group Holdings Ltd., an entity owned by Chatchaval Jiaravanon. Meredith will provide short-term business continuity services as part of the transaction and entered into a multiyear agreement with Fortune Media to offer services including marketing, subscription fulfillment, paper purchasing and printing, according to a Dec. 21 news release.

* XO Group Inc. became a privately held company and closed its merger with WeddingWire Inc. Under the agreement, XO Group shareholders will receive $35 per share in cash. The company will maintain both wedding brands, The Knot and WeddingWire, as separate consumer products, in addition to maintaining other wedding and lifestyle brands across the globe, the company said Dec. 21.

* Live Nation Entertainment Inc. bought a majority stake in DF Entertainment, an independent concert promoter in Argentina. The Buenos Aires-based company oversees a lineup of artists for both concerts and festivals, according to a Dec. 20 news release. DF Entertainment will continue to manage all operations throughout its portfolio and equity in local venues.

* Minnesota-based telecommunications and broadband services provider Arvig Communication acquired certain fiber assets in Minnesota from Windstream Holdings Inc. in an all-cash transaction valued at $49.5 million. Windstream also entered into a definitive agreement to sell additional fiber assets in Nebraska to Arvig for $11 million. The Nebraska transaction is expected to close in the first quarter of 2019, according to a Dec. 18 news release.

* Hammer Fiber Optics Holdings Corporation closed its acquisition of wholesale voice services provider Endstream Communications LLC on Dec. 17. The New Jersey-based telecommunications company will expand Endstream's services into other markets as part of Hammer Fiber's "Everything Wireless" strategy, Hammer Fiber COO Kristen Vasicek said in an official release.

* Crestview Partners L.P., through its managed funds, completed the purchase of Elo Touch Solutions Inc., a touchscreen solutions provider, for an undisclosed amount.