S&P Global Market Intelligence provides a wrap-up of U.S. companies' technology, media and telecommunications deal announcements, completions and updates from March 12 to March 18.
* NII Holdings Inc. struck a deal to sell its 70% stake in Nextel Brazil to América Móvil SAB de CV via the sale of one of the company's Luxembourg-based subsidiaries. The sale represents the disposition of NII Holdings' sole remaining operating asset, the company said March 18. In connection with the transaction, AI Brazil Holdings BV has agreed to sell its 30% interest in Nextel Brazil so that América Móvil can be the only owner of Nextel Brazil. Under the agreement, which has been unanimously approved by NII's board, América Móvil will buy all of the equity interests in Nextel Brazil for $905 million less net debt and subject to certain adjustments at closing, including reimbursement for capital expenditures and working capital investments from March 1 to closing. NII will receive 70% of the final net proceeds after deducting a $2 million preferred share return due to AI Brazil.
* Content distributor Cinedigm Corp. struck a deal to acquire over-the-top platform Future Today Inc. for $45 million in cash and $15 million in Cinedigm common stock. The deal will bring together Future Today's 5.2 million monthly active users with Cinedigm's 2.4 million, Cinedigm said in a press release. Future Today owns and operates more than 700 content channels and manages more than 200,000 film, TV and digital assets in a range of categories. The company's cloud-based technology and ad-based monetization platform manages OTT services for more than 350 content owners, distributors and media companies. The transaction is expected to close in the second calendar quarter of 2019 and is subject to customary closing conditions.
* I.D. Systems Inc., which provides wireless machine-to-machine solutions for securing, controlling, tracking and managing high-value enterprise assets, agreed to acquire all the outstanding shares of Pointer Telocation Ltd., an Israel-based provider of mobile resource management products and services for the automotive, insurance and logistics industries, for approximately $140 million.
* HCL Technologies Ltd., through subsidiary HCL America Inc., agreed to acquire digital consulting firm Strong-Bridge Holdings Inc. from Bow River Asset Management Corp., or Bow River Capital. Under the terms of the agreement, HCL Technologies will pay $42 million upfront in cash and $3 million in potential earnout if targets are achieved.
* CBS Corp. is acquiring Lions Gate Entertainment Corp.'s 50% stake in POP (US) to assume 100% ownership of the cable network, Broadcasting & Cable reported March 12, citing an internal memo. Financial terms of the deal were not disclosed. POP will become part of CBS Corp.'s cable network segment, David Nevins, chief creative officer at CBS Corp., said in the memo.
* F5 Networks Inc., a provider of multicloud application services, agreed to acquire all issued and outstanding shares of privately held Nginx Software Inc. for a total enterprise value of about $670 million. Upon closing of the deal, F5 will maintain the NGINX brand, and current NGINX CEO Gus Robertson, along with founders, Igor Sysoev and Maxim Konovalov, will continue to lead NGINX, the company said March 11.
* Focus Universal Inc. completed the acquisition of AVX Design and Integration, a design and installation provider for audio visual, home theater, lighting control, automation and integration. Financial terms of the transaction were not disclosed.
* DFW Capital Partners Inc. purchased a controlling equity stake in Sev1Tech Inc. for an undisclosed sum. Sev1Tech offers information technology, cybersecurity, cloud and program management services and tools to U.S. government agencies and commercial groups.
* Private equity firm Stagwell Group LLC is making a $100 million strategic equity investment in MDC Partners Inc. Under the agreement, Stagwell Group acquired 14,285,714 class A shares of the company for $50 million, or $3.50 per share, representing an 18% premium to the 30-day average closing price of $2.96 per share. Stagwell Group also acquired $50 million of convertible preferred shares with a $5 conversion price.
* MinuteMedia acquired sports, media and pop culture website The Big Lead.com from Gannett Co. Inc., Morning Consult reported March 14, citing MinuteMedia President Rich Routman. A company spokeswoman declined to disclose the purchase price. MinuteMedia is a sports media and technology company that provides an online platform for publishing sports content.
* Laurel Solutions, an affiliate of private equity firm FFL Partners LLC, completed the purchase of Sheffield, U.K.-based Servelec Technologies Ltd. for an undisclosed amount. The acquisition is in line with Laurel Solutions' plans to enhance its portfolio of commercial and industrial hardware, software and connectivity offerings, according to a March 14 statement.
* Accenture PLC, through subsidiary Accenture Interactive, acquired Netherlands-based digital marketing agency Storm Digital for an undisclosed amount.
* Apple Inc. purchased Silicon Valley-based machine-learning startup Laserlike Inc. for an undisclosed sum, The Information reported. The acquisition is expected to help boost the iPhone-maker's artificial intelligence efforts, including its virtual assistant Siri.
* Medici Ventures Inc. acquired a 5.1% stake in blockchain banking platform Bankorus for an undisclosed sum.
* Private investment firm 777 Partners bought travel technology company Air Black Box Co. Ltd. Financial terms of the transaction were not disclosed.
* Motorola Solutions Inc. acquired Avtec Inc., a Lexington, S.C.-based advanced dispatch services provider for an undisclosed sum. The acquisition will allow Motorola Solutions to expand its commercial and public portfolios as it looks to offer its customers an end-to-end platform, said John Kedzierski, corporate vice president of infrastructure and systems at Motorola Solutions.