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Salesforce acquiring software maker; Meredith completes sale of Time Inc. UK

S&P Global Market Intelligence provides a wrap-up of U.S. companies' media and communications deal announcements and completions from March 19 to March 23.

* Adyoulike SA acquired video technology platform Pulpix Inc. The acquisition is expected to bolster publisher relationships and advance the company's technology, according to a March 23 news release. The Pulpix platform uses artificial intelligence and real-time analytics to power content recommendations for users. Adyoulike is a native advertising technology company offering programmatic services that enable brands to scale campaigns across premium and niche properties.

* Byron Allen's Entertainment Studios Inc acquired Weather Group LLC, parent company of The Weather Channel (US) and Local Now streaming service. Allen bought the Weather Group through his company, Allen Media LLC, from The Blackstone Group, Bain Capital, and Comcast Corp. and its unit NBCUniversal Media LLC, according to a March 22 news release. Entertainment Studios is an independent producer and distributor of film and television, with 41 shows on the air, and owner of eight 24-hour HD cable television networks.

* Engineering simulation software provider ANSYS Inc. has agreed to acquire France-based Optis SAS, a software provider for scientific simulation of light, human vision and physics-based visualization. The transaction is expected to close in the second quarter. The buyer said it will provide further details on the transaction and its impact on its 2018 financial outlook after closing. "OPTIS is a technology leader, and together we'll deliver pervasive engineering simulation to a new set of companies while extending simulation to next-generation use cases like cameras and lidar development for autonomous vehicles," said Eric Bantegnie, vice president and general manager at Ansys.

* Upland Software Inc. has acquired InterFAX Communications Ltd., a provider of cloud-based messaging solutions including enterprise cloud fax and secure document distribution. The transaction marks Upland's first deal in Europe. The purchase price paid for Dublin-based InterFAX and related entities, including operations in Ireland, Israel, and a U.S. reseller, was $37 million in cash at closing, net of cash acquired, and a $5.0 million cash holdback payable over 18 months and subject to reduction for indemnification claims. This excludes any potential future earn out payments related to performance-based goals. Upland expects the acquisition to generate annualized recurring revenues of approximately $15.0 million, subject to reductions for a deferred revenue discount, as a result of GAAP purchase accounting, estimated at $700,000 for the remainder of 2018. The acquisition will generate an estimated $6.0 million in adjusted EBITDA annually for Upland and will be immediately accretive to its adjusted EBITDA per share.

* Townsquare Media Inc. agreed to buy three radio stations in Trenton, N.J., from Connoisseur Media LLC for about $17 million. The acquisition will include CHR station WPST-FM, the company said March 22. Under the agreement, Townsquare is buying the assets of WPST-FM 94.5, WNJE-AM 920 and WCHR-AM 1040 from Connoisseur. These stations will join Townsquare's existing Trenton, N.J., station WKXW-FM NJ 101.5. Townsquare owns five stations in Monmouth-Ocean, N.J., and five stations in Atlantic City, N.J. The company expects the acquisition to close in the second quarter of 2018, subject to closing conditions and customary regulatory approvals.

* Synopsys Inc. announced March 21 that it has completed the acquisition of Silicon & Beyond Pvt. Ltd., a leading provider of high-speed serializer/deserializer technology employed in machine learning, cloud computing and networking. In a statement, the buyer said the transaction illustrates its "continued focus on next-generation [serializer/deserializer, or SerDes,] solutions, addressing the need for greater amounts of reliable data transfer between chips, backplane, and extended range optical interconnects."

* Cloud computing company Inc. said March 20 it agreed to acquire MuleSoft Inc. for about $6.5 billion a year after the target went public. Under the deal, Salesforce will pay $44.89 per share for MuleSoft, or $36 in cash and 0.0711 share of Salesforce common stock. The transaction, which was announced after reports that the two companies were in advanced merger talks, is expected to close by July 31. MuleSoft, which makes integration software that connects applications, data and devices, has more than 1,200 customers.

* U.S. music streaming service Pandora Media Inc. agreed to buy AdsWizz, a provider of digital audio ad technology, for $145 million. Pandora said March 21 that it will pay a minimum of 50% in cash. The transaction is expected to close in the second quarter and is subject to customary closing conditions and regulatory approval. At the closing of the deal, AdsWizz will become a subsidiary of Pandora, with Alexis van de Wyer continuing to lead AdsWizz as CEO.

* Meredith Corp. completed the sale of Time Inc. UK to Epiris Fund II LP. Time Inc. UK is a British media company, with a portfolio of more than 50 brands, including Country Life and Woman's Weekly. Meredith bought Time Inc. UK on Jan. 31, as part of its acquisition of Time Inc.