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HP Enterprise completes Cray acquisition; Vox Media to merge with New York Media

S&P Global Market Intelligence provides a wrap-up of U.S. companies' technology, media and telecommunications deal announcements, completions and updates from Sept. 24 to Sept. 30.

Announcements

* Swiss electronics company Logitech International SA is buying Streamlabs Inc., which provides livestreaming software and tools, in a cash-and-stock transaction. Logitech will purchase San Francisco-based Streamlabs for about $89 million in cash, plus an additional $29 million of Logitech shares subject to Streamlabs achieving specific revenue growth targets. The transaction's completion is expected in the coming weeks, subject to customary closing conditions.

* International Business Machines Corp. is selling certain algorithmics and related assets to SS&C Technologies Holdings Inc. for an undisclosed sum. The deal is expected to close in the fourth quarter, subject to customary closing conditions.

* Vox Media Inc. agreed to merge with New York Media LLC. The merger will combine New York magazine and five other digital brands with content sites such as Vox, The Verge and Recode under a single company, which will retain the name Vox Media. The transaction, financial terms of which were not disclosed, is expected to close later this fall, subject to customary closing conditions.

* Cloud service provider Digerati Technologies Inc. agreed to buy Nexogy Inc., which provides cloud-based communication and broadband solutions for high-growth small and medium-sized businesses. As part of the deal, financial terms of which were not disclosed, Nexogy will be merged with Digerati's operating unit T3 Communications Inc.

* Private equity firm Vista Equity Partners LLC agreed to make a majority investment in open digital experience company Acquia Inc. The transaction, financial terms of which were not disclosed, is slated to close in the coming weeks. The deal values Acquia at almost $1 billion, including debt, Bloomberg News reported, citing people with knowledge of the matter.

* Professional Diversity Network Inc.'s variable interest entity Jiangxi PDN Culture Media Co. Ltd. agreed to acquire majority stakes in two education companies based in China. Under the deal, Professional Diversity Network will issue 915,864 common shares at a price equal to US$1.50 per share for a total valuation of about US$1.4 million in exchange for a 51% stake each in nonprofit business Guangzhou Zengcheng District Zhili Education Training Center and limited liability company Guangzhou Angyue Education Consulting Co. Ltd.

Completions

* New Era Technology Inc., which provides collaboration, data networking and security and other IT solutions, received an undisclosed amount of investment from private equity firm Sentinel Capital Partners LLC. New Era CEO Joe Ewart said the new partnership with Sentinel should help his company advance its acquisition strategy to complement its organic growth.

* MHC Software Inc., which provides enterprise content automation and document management software solutions, received a majority investment from private equity firm Strattam Capital LLC. Concurrently, MHC purchased Vanguard Systems Inc., a workflow and process automation solutions provider with offices in Pennsylvania and California. Financial terms of both transactions were not disclosed.

* Hewlett Packard Enterprise Co. completed its acquisition of supercomputing solutions provider Cray Inc. in a transaction valued at about $1.4 billion, net of cash. Hewlett Packard, which paid $35.00 per share, expects the acquisition will help it expand in the high-performance computing segment of the market.

* Investment firm Vista Equity Partners Management LLC acquired AltaReturn, a provider of cloud-based technology solutions for the private capital and family office markets, for an undisclosed sum. Following the deal, Vista Equity will merge AltaReturn with Black Mountain Systems LLC, which provides workflow software solutions to credit investors and alternative asset managers, to form a new entity named Allvue Systems.

* OUTFRONT Media Inc. acquired 22 large-format static billboards and 16 digital displays in Chicago from Total Outdoor Corp. Financial terms of the transaction were not disclosed.

Updates

* New Media Investment Group Inc. and USA Today owner Gannett Co. Inc. scheduled a special shareholders meeting Nov. 14 to consider and vote on a proposed cash-and-stock transaction between the companies. The U.S. Justice Department's antitrust regulators on Sept. 26 cleared the transaction after the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 expired.

* Optical networking technology manufacturer Acacia Communications Inc. announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 expired for its proposed acquisition by Cisco Systems Inc. The waiting period expiration satisfies one of the conditions necessary for the closing of the acquisition, which is expected during the second half of Cisco's fiscal year 2020 but remains subject to customary closing conditions.