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Amazon acquires 3D startup; Cincinnati Bell closes OnX deal


According to Market Intelligence, December 2022


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Amazon acquires 3D startup; Cincinnati Bell closes OnX deal

S&P Global Market Intelligence provides a wrap-up of U.S. companies' media and communications deal announcements and completions from Oct. 2 to Oct. 6.

* Nielsen Holdings closed the acquisition of Visual IQ, an independent provider of multitouch attribution modeling of advertising on digital platforms. Visual IQ will operate as a stand-alone business unit within Nielsen's Marketing Effectiveness segment, the company said Oct. 5. Visual IQ will now be called "Visual IQ, a Nielsen company." The company will continue to operate from its headquarters in Boston. The acquisition is expected to allow Nielsen to automatically ingest and process large datasets, as well as provide Nielsen with access to more proprietary big data from advertisers, publishers and retailers.

* U.K.-headquartered Dialog Semiconductor Plc said it is acquiring U.S.-based Silego Technology, Inc. for $276 million, plus up to $30.4 million of contingent consideration. Silego is a maker of configurable mixed-signal integrated circuits. The deal will allow Dialog to boost its internet of things capabilities. The deal is set to close by year-end, subject to regulatory approvals. Dialog expects the deal to generate more than $80 million of revenue for 2017.

* Live Nation Entertainment Inc. acquired Salt Lake City-based local promoter United Concerts. United Concerts CEO Jim McNeil will serve as president of US Concerts – Salt Lake City. He will oversee all local operations, reporting to Bob Roux, co-president of North America Concerts at Live Nation. United Concerts produces more than 170 live events per year at a range of venues throughout Utah, according to an Oct. 4 news release.

* Inc. purchased 3-D body model startup Body Labs, according to a post on the startup's website. Citing a "well-placed source," reported Oct. 3 that the online retail giant paid between $50 million and $70 million for the startup. Another source, however, said the deal price was above $100 million.

* Cincinnati Bell Inc. completed its $201 million acquisition of OnX Enterprise Solutions Ltd., combining the acquired company with Cincinnati Bell's IT services business, CBTS. The combination of CBTS and OnX will provide scale, service and product offerings, free cash flow generation and client diversification, thereby supporting CBTS' transformation to a hybrid IT solutions provider, the company said Oct. 2. The deal will also expand CBTS' footprint through additional sales offices and data centers across the U.S. and Canada. In connection with the completion of this deal, Cincinnati Bell entered into new senior secured credit facilities, consisting of a five-year $200 million senior secured revolving credit facility and a seven-year $600 million senior secured term loan facility.

* E.W. Scripps Co. completed the acquisition of Katz broadcast networks, which distribute programming for targeted audiences over the air, for a net purchase price of $292 million, Scripps said Oct. 2. The four national networks included in the deal are Bounce TV (US), Grit, Escape and Laff. Katz founder Jonathan Katz will continue to lead the Katz networks business, which, along with about 130 employees, will remain based in Atlanta. The four networks are expected to generate about $180 million in revenue and about $30 million in segment profit in 2018. The deal will be treated as an acquisition of assets for tax purposes. Scripps financed the deal with $300 million of new floating-rate debt with a maturity date of 2024.

* IAC/InterActiveCorp completed the merger of its HomeAdvisor brand with Angie's List. The new company, called ANGI Homeservices Inc., commenced trading on Nasdaq under the ticker symbol ANGI on Oct. 2, the company said the same day. The transaction was approved by stockholders of Angie's List at a special meeting on Sept. 29, and completed following close of business that same day. Effective as of the close of trading on Sept. 29, Angie's List common stock was delisted from the Nasdaq Stock Market and ceased to be publicly traded. The merger created a pro forma entity that exceeded $890 million in combined revenue over the last 12 months, as of the second quarter. The combined company expects to generate $270 million in adjusted EBITDA in 2018 and is targeting a five-year compound annual growth rate of revenue of 20% to 25%, with adjusted EBITDA margins ramping to about 35%.

* ORBCOMM Inc. acquired Galway, Ireland-based transportation management solutions provider Blue Tree Systems Ltd. for an aggregate consideration of about $36.8 million, subject to a working capital adjustment. The deal also covers the acquisition of Blue Tree's subsidiaries in the United States, Germany and France, the company said Oct. 2. Following Blue Tree's acquisition, ORBCOMM will add truck in-cab and refrigerated fleet vehicle solutions to its cargo solutions. ORBCOMM paid roughly $34.8 million of the total consideration in cash and the remaining $2 million by issuing 191,022 shares of ORBCOMM common stock. ORBCOMM will also pay a contingent consideration of up to about $5.8 million based on Blue Tree achieving certain thresholds.

* Apple Inc. bought computer vision startup Regaind earlier this year, reported Sept. 29, citing multiple sources. Apple told the publication that it "buys smaller technology companies from time to time," presumably confirming the deal. Some of the features of Regaind's technology include finding the best picture out of many and hiding duplicates.