S&P Global Market Intelligence provides a wrap-up of European media and communications deal announcements, completions and updates from Dec. 31, 2018, to Jan. 4, 2019.
* T-Mobile Netherlands BV has completed its acquisition of Tele2 AB's Dutch unit, Tele2 Nederland BV, according to a Jan. 2 news release. Tele2 AB has received a cash payment of €190 million. Post merger, Tele2 and T-Mobile Netherlands' parent, Deutsche Telekom AG, will own equity holdings of 25% and 75% in T-Mobile Netherlands, respectively. The news follows the European Commission's approval of the proposed deal, despite raising potential competition concerns.
* Finnish company Nokia Corp. on Jan. 2 said it has completed the sale of a majority shareholding in its IP video business to Toronto-based Volaris Group Inc. Nokia will remain a minority shareholder in the new pure play streaming technology company, Velocix, which will operate as an independent business within Volaris Group's communications and media portfolio.
* Public relations management company Cision Ltd. acquired social media company Falcon.io ApS, according to a Jan. 3 news release. Falcon will be integrated with Cision Communications Cloud and will also continue to be offered as a stand-alone social media platform. Falcon's social media marketing capabilities will immediately be made available to Cision customers.
* Zynga Inc. completed its acquisition of 80% of all issued and outstanding shares and other equity securities of Finland-based mobile game developer Small Giant Games Ltd. in a cash-and-stock deal. Zynga paid $363.5 million in cash and issued 63,794,746 shares of its class A common stock to certain sellers, according to a Jan. 2 SEC filing. As part of the purchase agreement, $30 million of the cash consideration was placed into an escrow fund. Zynga will purchase the remaining 20% share of Small Giant over the next three years for amounts determined by profitability goals.
* Affiliates of U.K.-based private equity firm CVC Capital Partners Ltd.'s CVC Fund VII completed their offer to acquire all outstanding shares of ConvergeOne Holdings Inc. for $12.50 per share in cash. ConvergeOne provides collaboration and technology services to large and medium-sized U.S. companies.
* The Internet Group Ltd. acquired IT consultancy company netConsult Ltd., according to a Jan. 3 news release. The purchase was backed by a £6 million investment from private equity firm Business Growth Fund PLC. TIG, a managed service provider, will use the investment from BGF to support its organic growth and acquisition strategy, beginning with the acquisition of netConsult.
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