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Frontier inks $1.35B asset deal; Meredith sells Sports Illustrated

S&P Global Market Intelligence provides a wrap-up of U.S. companies' technology, media and telecommunications deal announcements and completions from May 28 to June 2.


* Inc.'s advertising unit is buying assets from bankrupt advertising company Sizmek Inc. for an undisclosed sum. Amazon Advertising will acquire Sizmek's Ad Server and Dynamic Creative Optimization. Financial terms of the deal were not disclosed.

* Germany-based semiconductor maker Infineon Technologies AG struck a definitive agreement to acquire U.S.-based Cypress Semiconductor Corp. for an enterprise value of €9.0 billion. Deal completion is expected by the end of calendar 2019 or early 2020, subject to approval by Cypress shareholders and regulatory authorities, as well as other customary conditions.

* Location technology company Foursquare Labs Inc. entered into a deal to buy Placed Inc. from Snap Inc. for an undisclosed amount. Foursquare intends to add Placed to its bundle of location-based offerings.

* Private equity firm Insight Venture Management LLC is acquiring threat intelligence company Recorded Future Inc. for more than $780 million in an all-cash deal. Insight, which targets technology and software companies, previously held a minority stake in the company.

* American Tower Corp. agreed to acquire Eaton Towers Holdings Ltd. for a total consideration of approximately $1.85 billion, including the assumption of existing debt. Eaton is a London-based owner and operator of about 5,500 communications sites. The transaction is scheduled to close by the end of 2019, subject to customary conditions and regulatory approvals.

* Frontier Communications Corp. is selling its operations and assets in Washington, Oregon, Idaho and Montana to private investment firm WaveDivision Capital LLC, in partnership with Searchlight Capital Partners LP, for $1.35 billion in cash. The transaction is expected to close within a year, subject to regulatory approval. Frontier Communications will continue to operate the business until the transaction closes.

* Private equity firm Vista Equity Partners Management LLC is acquiring Black Mountain Systems LLC, which provides workflow software solutions to credit investors and alternative asset managers, for an undisclosed amount.

* Palo Alto Networks Inc. entered into definitive agreements to acquire two cybersecurity companies to extend its new cloud security suite Prisma. Palo Alto Networks will acquire Twistlock Inc. for approximately $410 million in cash. Twistlock is a container security company that combines vulnerability management, compliance and runtime defense for cloud-native applications and workloads. Palo Alto Networks is also buying serverless architectures security provider PureSec Ltd. Financial terms of this acquisition were not disclosed. The company expects to close both acquisitions, which are subject to regulatory approvals and other customary closing conditions, during its fiscal fourth quarter.

* Private equity investment firm Thoma Bravo LLC struck a deal to acquire a majority stake in Cority Software Inc., a Canadian provider of environmental, health, safety and quality software. The deal, terms of which were not disclosed, is expected to be completed by the end of June, subject to customary closing conditions.


* Validity Inc., which provides software for managing customer data, closed its acquisition of Return Path Inc. for an undisclosed sum.

* ShootProof, a company which provides online gallery software and sales tools for professional and semiprofessional photographers, bought Tave Corporation, a cloud-based studio management solutions provider. Financial terms of the deal were not disclosed.

* Middle market private equity group Mountaingate Capital Management LP acquired MeritDirect LLC. Financial terms of the deal were not disclosed. The acquisition came after the Federal Trade Commission gave Mountaingate Capital the green light to acquire MeritDirect, which provides multichannel, business-to-business database products and services solutions.

* Thoma Bravo completed the acquisition of data and software services provider Autodata Solutions Co. from Internet Brands Inc. Financial details of the transaction were not disclosed.

* Private equity firm Sunstone Partners purchased cybersecurity services firms Sword & Shield Enterprise Security Inc., Trushield Security Solutions Inc. and Terra Verde Security LLC for an undisclosed sum. The three cybersecurity firms were merged to form Avertium, which will focus on backing midsize-to-large enterprises.

* B2Digital Inc. acquired 100% of the equity interests in United Combat League for a combination of cash and shares of B2Digital's restricted common stock. United Combat League is now part of the B2 Fighting Series.

* LookSmart Group Inc., a search advertising network and management company, sold Clickable to Brand Networks, a provider of marketing and advertising services. Financial terms of the deal were not disclosed.

* Meredith Corp. sold its Sports Illustrated news outlet to Authentic Brands Group LLC in a $110 million deal. The acquisition involves the purchase of Sports Illustrated's intellectual property and its associated brands. The deal excludes the FanSided digital platform, which Meredith is in the process of selling.