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Apple buys AR lens developer; News Corp. unit acquiring OpCity

S&P Global Market Intelligence provides a wrap-up of U.S. companies' technology, media and telecommunications deal announcements and completions from Aug. 27 to Aug 31.

* Boyne Capital Partners LLC acquired Fort Atkinson, Wis.-based business-to-business media and business intelligence company AC Business Media Inc. The lower-middle-market private equity firm partnered with AC Business Media's management in the transaction.

* Boston Omaha Corp. unit Link Media Outdoor acquired substantially all of the operating assets of Waitt Outdoor LLC for $82 million in cash. Founded in 1999, Waitt Outdoor has more than 1,600 structures and 2,500 advertising faces, located in Illinois, Iowa, Kansas, Missouri and Nebraska. A portion of the purchase price will be retained by Link for a period of up to 12 months as a partial source of recourse for any indemnification claims by Link, the company said Aug. 31.

* Apple Inc. confirmed the acquisition of Longmont, Colo.-based Akonia Holographics LLC, a startup that manufactures augmented reality waveguide lenses, Reuters reported Aug. 29. "Apple buys smaller companies from time to time, and we generally don't discuss our purpose or plans," the company said in a statement. Financial terms of the deal were reportedly not disclosed.

* Private equity firm Summit Partners LP purchased logistics technology company MercuryGate International Inc., which provides software-as-a-service-based transportation management system solutions to shippers, third-party logistics companies, freight forwarders, freight brokers and carriers.

* News Corp. subsidiary Move Inc. agreed to acquire Austin, Texas-based real estate technology platform Opcity Inc. for $210 million, subject to adjustments. The deal is subject to customary closing conditions, which include regulatory clearance and approval by holders of the majority of Opcity shares.

* Private equity firm GTCR LLC through its portfolio company Mega Broadband Investments LLC, entered into a definitive agreement to acquire Northland Communications Inc. GTCR and Mega Broadband Investments will fund the acquisition of Northland from GTCR Fund XII LP, a private equity fund raised in 2017 that has $5.25 billion of limited partner capital commitments.

* Carlyle Group LP's Carlyle Global Partners LP is buying the remaining stake held by fellow private equity firm Crestview Partners LP in NEP Group Inc. The deal, slated to close in the fourth quarter, would make Carlyle the majority shareholder of NEP. The Pittsburgh-based company provides outsourced technical-production partner services to content producers of live sports, entertainment, music and corporate events.

* Private equity firm Arlington Capital Partners LP closed its purchase of Black Box Corp.'s government solutions unit. The business, which specializes in systems integration and provides managed communication systems services to the U.S. Department of Defense and global civilian agency enterprise operations, will operate independently as Tyto Athene.

* VMware Inc. agreed to acquire CloudHealth Technologies Inc. as part of the U.S. software company's efforts to expand its cloud offerings. CloudHealth delivers a multi-cloud operations platform that helps 3,000 global customers to centrally analyze and manage costs, usage, security and performance across native public clouds. The companies did not disclose financial terms of the deal, which Reuters reported was valued at about $500 million, citing sources familiar with the matter. VMware expects the acquisition to close in the third quarter of its fiscal year 2019, with no anticipated material impact on the company's full-year earnings guidance, which remains unchanged.

* Amobee Inc. acquired the assets of Videology Inc., a software provider for advanced television and video advertising. The acquisition of Videology's technology platform, intellectual property and other assets are expected to bolster Amobee's omni-channel platform, helping marketers meet consumer demand for premium video and advanced TV content. While financial terms of the deal were not disclosed, Broadcasting & Cable reported the deal value to be at $101 million. Amobee, a global digital marketing technology company, is a unit of Singtel.

* ASX-listed remote communications and IT services provider SpeedCast International Ltd. agreed to buy Globecomm Systems Inc. from affiliates of private equity firms HPS Investment Partners LLC, Tennenbaum Capital Partners LLC and other members of Globecomm. The deal, which has an estimated net purchase consideration of US$135 million, will be funded by a fully underwritten US$175 million add-on to Speedcast's existing seven-year senior secured credit facility due 2025. The transaction is subject to customary closing conditions and is expected to close in the fourth quarter.

* Allstate Corp. agreed to acquire Scottsdale, Ariz.-based InfoArmor Inc., a provider of employee identity protection. InfoArmor provides identity protection to more than 1 million employees, and their family members, at more than 1,400 companies. The all-cash transaction is valued at $525 million. The deal is expected to close later this year, subject to regulatory approvals and customary closing conditions.

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