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Freenet threatens to hamper Sunrise/UPC deal; BC Partners buying Presidio

S&P Global Market Intelligence provides a wrap-up of European media and communications deal announcements, completions and updates from Aug. 12 to Aug. 16.

TOP NEWS

* Germany's freenet AG, the majority shareholder in Sunrise Communications Group AG, said Aug. 16 that it will vote against the Swiss telco's planned CHF 4.1 billion capital increase in relation to its proposed acquisition of UPC Schweiz. Freenet noted that the acquisition price is "too high," and that the deal poses risks to Sunrise shareholders. In response, Sunrise said it remains convinced that the transaction would strengthen and create more value for the company.

* Funds advised by BC Partners agreed to buy North American IT solutions provider Presidio Inc. in an all-cash deal worth about $2.1 billion, including net debt. The deal contains a go-shop provision whereby Presidio may actively solicit alternative acquisition offers for a period of 40 days. The company has the right to terminate the deal in favor of a superior proposal, subject to the agreement's terms and conditions. Presidio's board unanimously approved the deal and recommends that shareholders vote in favor of the transaction, slated to close in the fourth quarter. Presidio will cease trading on the Nasdaq stock market upon deal closing.

Media

* NorthEdge Capital LLP-managed funds agreed to acquire Catalis PLC, a provider of publishing and support services to the gaming sector, for about £89.8 million in cash. The acquisition will be made through a court-sanctioned scheme of arrangement, subject to court and Catalis shareholder approvals. Once approved, the scheme is expected to take effect on the long-stop date of Dec. 31 or any later date. Alternatively, Bidco may pursue a takeover of Catalis with consent from the U.K. Panel on Takeovers and Mergers.

* New Zealand broadcaster SKY Network Television Ltd. struck a deal to acquire Ireland-based online rugby network RugbyPass Ltd. for $40 million. The purchase price is made up of $10 million in cash, issuance of new Sky shares worth $20 million upon completion, and the remaining $10 million payable in cash during an agreed-upon earn-out period. Post deal completion, RugbyPass will operate as a wholly owned subsidiary of Sky.

* ITI Neovision, which operates Polish direct-to-home platform nc+, agreed to acquire a 70% stake in film distributor Kino Świat, Broadband TV News reported Aug. 15. The deal will allow nc+ to distribute Kino Świat's content.

* Private equity firm LDC (Managers) Ltd. made an investment for a minority equity stake in Plimsoll Productions Ltd., a U.K.-based independent producer of television content. The deal, which values Plimsoll at about £80 million, will allow the company to invest in its natural history and documentary divisions as well as further expand into the U.S. and new global markets.

Communications

* China's Shenzhen Goodix Technology Co. Ltd. agreed to acquire NXP Semiconductors NV's voice and audio solutions. The transaction includes employees in Europe and Asia, as well as relevant intellectual properties.

* Accenture PLC agreed to acquire Analytics8, a privately held big data and analytics consultancy company in Australia. Analytics8 specializes in data management, reporting and visualization, data science and analytics services. Accenture is also acquiring Insitum, a research and consulting firm headquartered in Mexico that designs products and services for companies, as well as brand and digital strategies. Insitum will become part of Fjord, the design and innovation unit of Accenture Interactive. The acquisition's completion is subject to customary closing conditions.

* U.K. investment firm Graphite Capital Management LLP completed the acquisition of Hanson Wade Ltd., which provides conference organizing services, in a management-led buyout, according to an Aug. 14 news release.

* HgCapital LLP-backed IRIS Software Group Ltd. agreed to acquire software provider FMP Global from U.K.-based lower-middle-market investor Tenzing Pvt. Equity LLP. Tenzing will exit from FMP Global in a transaction expected to close by end-September.

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