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Perficient closes Sundog acquisition; Bright Mountain Media to buy S&W Media

S&P Global Market Intelligence provides a wrap-up of U.S. companies' technology, media and telecommunications deal announcements, completions and updates from May 20 to May 27.

Announcements

* Digital media holding company Bright Mountain Media Inc. entered into a nonbinding letter of intent to purchase Israel-based S&W Media Group in a cash-and-stock transaction. Bright Mountain will pay $750,000 in cash and will issue up to 13,000,000 common shares, 7,000,000 of which are payable at closing, to fund the transaction. Six million shares are payable over three years upon achieving certain revenues and EBITDA forecasts.

* Canadian news media company Postmedia Network Inc. will make a strategic equity investment for a minority position in digital media outlet The Logic Inc. The companies will also partner on various initiatives, including content licensing, marketing projects and events.

* Mastercard Inc. completed its acquisition of Ethoca Ltd. on May 21. Ethoca, which provides services to help reduce digital commerce fraud, was previously owned by Difference Capital Financial Inc. Financial terms of the deal were not disclosed.

* A subsidiary of B. Riley Principal Investments LLC on May 15 agreed to sell Broadsmart Global Inc. to smart communications platform Ooma Inc. for $7.4 million in cash. The transaction is expected to close by the end of May.

* Broadridge Financial Solutions Inc. agreed to acquire Canada-based RPM Technologies Inc., a provider of wealth management software solutions and services, for roughly $300 million. Broadridge Financial Solutions expects the deal to add $40 million to $50 million to its fiscal year 2020 revenues but does not expect it to have any material impact to its adjusted EPS.

Completions

* Scaleworks Associates purchased site search provider SearchSpring. As part of the transaction, financial terms of which were not disclosed, Peter Messana will replace SearchSpring founder Gareth Dismore as the company's new CEO.

* Perficient Inc. completed its acquisition of Sundog Inc., a marketing and technology consulting firm that delivers Salesforce solutions for manufacturers. Sundog CEO Brent Teiken, Chief Strategy Officer Eric Dukart and Chief Technology Officer Johnathon Rademacher will join Perficient in key roles.

* Insurance technology company Majesco on May 15 completed its acquisition of parent Majesco Ltd.'s India-based insurance software business for about 243.7 million Indian rupees. The software business was acquired by Majesco and Software Solutions India Pvt. Ltd.