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Deals through May 6


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Deals through May 6

SNLKagan provides a wrap-up of media and communications deal announcements andcompletions from May 2 to May 6.


* LinkedInCorp. acquiredRun Hop Inc., an online content distribution startup, The Wall Street Journal reported May 5, citing a LinkedInspokesman. The dealis reportedly focused on securing the expertise of Run Hop co-founders Pete Daviesand Evan Solomon, who have taken new roles at the professional networkingwebsite. LinkedIn named Davies senior product manager on the content team, andSolomon has joined the company as a senior software engineer. The deal isexpected to help the company make users' feeds more engaging.

* Omnicom Health Group agreed to BioPharm Communications, an agencythat specializes in creating multichannel marketing programs targetingphysicians and health care practitioners for its pharmaceutical andbiotechnology clients. The transactionis expected to close in the second quarter, subject to regulatory approval, thecompany said May 5. Jeff Persinger and Daniel Egeland, co-founders of BioPharm,will continue to lead the company as president and CEO, and executive vicepresident and chief sales and marketing officer, respectively. Certain otherexecutives, including Chief Strategy Officer Norm Phillips, COO Steve Carickhoff,and Head of Analytics Lars Nordmann, will retain their current positions.Omnicom Health Group is part of the DAS Group of Cos., a division of

* SinclairBroadcast Group Inc. on May 1 completed the acquisition of five television stations in Lincoln,Neb., for $31.3 million. The stations are FOX (US)-affiliate KFXL and -affiliates KWNB-LD, KWNB,KHGI and KHGI-LD, according to a Form 8-K filed May 4.

* MicrosoftCorp. acquiredItaly-based Internet of Things platform Solair. Solair's IoT platform provides services toindustries such as manufacturing, retail, food and beverage and transportation.The company was founded by CEO Tom Davis in 2011. Solair's technology will beintegrated into the Microsoft Azure IoT suite and its team will join the AzureIoT team, Sam George, Azure IoT partner director, wrote in a May 3 blog post.

* GoogleInc. has acquiredCanadian training software company Synergyse, which developed a cloud-based interactivetraining program for Google Apps. The AlphabetInc. unit said May 2 on its Google for Work blog that it willinclude Synergyse in its Google Apps offering in late 2016. Existing customerswill keep their Synergyse access, while new customers will be able to use theprogram via a downloadable Google Chrome extension. Following the deal,Synergyse has made its Synergyse Training for Google Apps free of charge to allcustomers, according to a post the same day on its official blog.

* NewMedia Investment Group Inc. completed an $18 million cashdeal to Journal Multimedia.New Media Investment Group paid the $18 million price using cash on its balancesheet, the company said May 2. Journal Multimedia's umbrella has a number ofregional business journals, a research division, trade magazines and a digitalmarketing company.

* CrownMedia Holdings Inc. is no longer a public company after completinga short-form mergerwith Hallmark Cards Inc.Under the terms of the deal,announced in March, Hallmark Cards paid $175.7 million in cash and assumed 9.7%of the pro rata debt of the company to acquire a 10% stake that it did notalready own in Crown Media, the owner of the Hallmark Channel and Hallmark Movies& Mysteries. Hallmark Cards CEO Donald Hall Jr. announced the completion ofshort-form merger on May 2. A May 3 conference call that had been scheduled todiscuss Crown Media's financial results was canceled.

* IAC/InterActiveCorpunit Vimeo acquiredVHX, a platform for premium over-the-top subscription video channels. Thedeal helps Vimeoprovide a complete streaming ecosystem for individual creators, nicheprogrammers and major media partners to offer subscription video-on-demandchannels, the company said May 2. VHX Co-Founder and CEO Jamie Wilkinson willnow report to Vimeo CEO Kerry Trainor.


* GeneralCommunication Inc. agreed to sell its urban wireless tower and rooftop sites toVertical Bridge for about $90 million. According to a May 5 SEC filing, theagreement,expected to close in mid-2016, is valued at about 20x tower cash-flow.

* VonageHoldings Corp. agreed to acquireNexmo Inc., aSan Francisco-based communications platform-as-a-service provider, for $230million in cash and stock. Nexmo shareholders will receive an additionalearn-out of up to $20 million if Nexmo meets certain performance targets. Nexmoprovides communication application program interfaces for text messaging andvoice communications, allowing developers and enterprises to embed contextualcommunications into mobile apps, websites and business workflows via text,social media, chat apps and voice. Of the total deal consideration, $195million will be paid at the closing, consisting of a minimum of $159 million ofcash and a maximum of $36 million in stock. Vonage may choose to substitute $23million of additional cash for stock at closing. The remaining $35 million ofthe $230 million purchase price will be paid in the form of restricted cash andrestricted stock for Nexmo management and employees, both subject to vestingrequirements over time. Vonage said it is financing the acquisition through acombination of cash on hand and revolver capacity. Pro forma for thetransaction, net debt to EBITDA will be about 2.25x.

* UnitedOnline Inc. has finally agreed to be acquired by B. Riley Financial Inc. B. Riley Financialand some of its affiliates signed a definitive agreement to purchase United Online for$11.00 per share, or about $170 million in cash. The companies expect thetransaction to close in the third quarter, subject to satisfaction of customaryconditions such as United Online's stockholders' approval.

* GTCR LLC has acquired Minneapolis-based Onvoy LLC from Communications InfrastructureInvestments. Onvoy is a communications enablement platform that provideswholesale communication services, including voice, messaging and mobilitysolutions, to wireless, over-the-top app, VoIP and wireline communicationscompanies that focus on customer-facing applications.

* AtlanticTele-Network Inc. closedon the acquisitionof a controlling interest in KeyTech Ltd., a Bermuda telecommunicationscompany. The deal brings together the Bermuda mobile service provider behindthe brand CellOne with KeyTech's Logic, which provides voice, broadband andcable television services in Bermuda and the Cayman Islands. AtlanticTele-Network will consolidate the results of KeyTech's operations in its "InternationalTelecom" segment.

* ConsolidatedCommunications Holdings Inc. struck a to sell its HeartlandTelecommunications Co. of Iowa to Mutual Telephone Co. of Sioux Center, Iowa,and Winnebago Cooperative Telecom Association. Under the agreement, MutualTelephone Co., known as Premier Communications, will acquire the Iowa exchangesof Akron, Boyden, Doon, Hawarden, Hull, Ireton, Rock Rapids, Rock Valley andSibley. Winnebago will buy the Iowa exchanges of Bancroft and Lakota. Theall-cash transaction is valued at about $22.5 million, subject to certaincontractual adjustments. Consolidated Communications said the sale will allowthe company to better focus on its core regions. The deal is expected to closein the second half of this year, subject to customary regulatory approvals.