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Nvidia to buy Mellanox for $6.9B; NBCU buys Serestar stations

S&P Global Market Intelligence provides a wrap-up of U.S. companies' technology, media and telecommunications deal announcements, completions and updates from March 5 to March 11.

Announcements

* Nvidia Corp. agreed to acquire Mellanox Technologies Ltd. for $125 per share in cash, or a total enterprise value of about $6.9 billion. Nvidia said the acquisition, which it intends to fund through cash on its balance sheet, will help it optimize data center-scale workloads across computing, networking and storage stack to drive performance and reduce operating costs for customers.

* Global Gaming Technologies Corp. on March 6 agreed to acquire Videre eSports Corp. Under the agreement, Global Gaming will issue 428,865,080 common shares at 2 cents apiece for all Videre common stock, in a deal valued at about $8.6 million.

* Omnicom Group Inc. unit DAS Group of Cos. agreed to sell MarketStar to Utah-based investment company Wasatch Group. The divestiture is the result of Omnicom's evaluation of its portfolio of businesses, according to a March 5 news release.

* VGTel Inc. has agreed to acquire certain media and entertainment assets from Mike The Pike Productions Inc. The company has created a new subsidiary, called Mike The Pike Entertainment LLC, to house and operate the newly acquired assets and specialize in the further acquisition and development of entertainment and media intellectual properties. VGTel has also acquired the web domain mikethepike.com to continue using the "Mike the Pike" branding, according to a March 5 news release.

* Gray Television Inc. entered into an agreement with an affiliate of Lockwood Broadcast Group to sell its CBS/FOX (US) affiliate WCAV and ABC (US) affiliate WVAW in Charlottesville, Va. Upon divestment of these television stations, Gray will acquire NBC (US) affiliate WVIR in Charlottesville from Waterman Broadcasting Corp., according to a March 4 news release. The company expects to close both transactions, financial terms of which were not disclosed, in the second or third quarter.

Completions

* Comcast Corp.'s NBCUniversal Owned Television Stations has acquired Serestar Communications Corp. stations in Salt Lake City and Sacramento, Calif., for $21 million, Broadcasting & Cable reported March 6, citing a company statement. The stations are KMUM, KCSO and KMMW in Sacramento; and KTMW, KULX, k17II and KULU in Salt Lake City.

* Mobile app portfolio company The Meet Group Inc. acquired Initech LLC, a privately held company that owns and operates social app Growlr for $11.8 million. The company used $4.8 million in cash on hand and $7 million from its existing line of credit for the transaction.

* Nintex USA Inc. acquired robotic process automation provider EnableSoft Inc. for an undisclosed sum. Nintex provides workflow automation software and platform for business users, developers, and IT professionals. Headquartered in Orlando, Fla., EnableSoft created Foxtrot RPA to help enterprises increase operational efficiency and reduce human capital costs through automation.

* Spartanburg, S.C.-based private investment firm WJ Partners LLC sold its stake in Mobile Communications America, a provider of lifecycle communication solutions, to Sentinel Capital Partners LLC. Financial details of the transaction were not disclosed. Executive Chairman Mark Blackman and CEO Vince Foody will continue to lead the company, according to a March 4 news release.