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Telenor completes DNA deal; Microsoft acquires open-source Java tool

S&P Global Market Intelligence provides a wrap-up of European media and communications deal announcements, completions and updates from Aug. 19 to Aug. 23.

TOP NEWS

* Norway's Telenor ASA completed the €1.5 billion acquisition of a 54% stake in DNA Oyj after receiving regulatory approvals from the Finnish government and the European Commission. Following the deal's completion, Telenor is launching a mandatory public tender offer of €20.90 per share for the Finnish operator's outstanding shares. The price is the same as in the transactions to purchase holdings from Finda Telecoms Oy and PHP Holding Oy, DNA's largest shareholders with stakes of 28.3% and 25.8%, respectively.

* Microsoft Corp. acquired jClarity Ltd., an open-source Java performance tuning tool. The acquisition of jClarity, a contributor to the AdoptOpenJDK project, is expected to help Microsoft optimize Java workloads on the Azure cloud computing platform, according to an Aug. 19 official blog post.

Media

* Baltic Classifieds Group OU signed an agreement to buy Auto24 AS, which operates an automotive classifieds portal in Estonia, from BaltCap Private Equity Fund II. Auto24 connects buyers and sellers through its portal, as well as operates a generalist classifieds site. BaltCap Private Equity Fund II is managed by private equity firm AS BaltCap.

* Gravity Media Group Ltd. agreed to acquire Chief Entertainment Pty. Ltd., an Australia-based provider of live studio and production services, from Telstra Corp. Ltd. The acquisition of Chief Entertainment will complement Gravity Media's existing Input Media production centers in the U.K., as well as its Melbourne production and Sydney post-production facilities, according to an Aug. 19 news release. The transaction is expected to close by end-August, subject to certain conditions. Following deal completion, Chief Entertainment will continue to operate under its existing name and branding until it is fully integrated with Gravity Media's Australian operations.

Communications

* Equity investment firm Monterro Holdings AB bought a majority stake in Specops Software AB, a provider of password and authentication services. Specops Software has more than 2,000 customers in 50 countries.

* Sunrise Communications Group AG's board decided to exclude representatives of freenet AG from deliberations related to its planned acquisition of UPC Schweiz, due to conflict of interest. Sunrise Communications said Aug. 22 that the decision comes after freenet, its largest shareholder, made "inappropriate requests at the expense of minority shareholders." Sunrise also requested its shareholders to refrain from supporting freenet's effort to vote down its planned transaction. Freenet earlier announced its decision to vote against Sunrise Communications' proposed capital increase, which was intended for the planned acquisition of Liberty Global PLC's Swiss unit.

* Information tech company DXC Technology Co. acquired Syscom AS to enhance its security operations and service management capabilities. The acquisition expands DXC's presence in Norway and its ability to lead Norwegian clients across the public sector and commercial industries in digital transformation, according to an Aug. 21 news release. Syscom, a ServiceNow Inc. partner, is an independent provider of service management and security consulting and services in Norway.

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