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Google buys IoT platform; Microsoft acquires education startup

S&P Global Market Intelligence provides a wrap-up of U.S. companies' media and communications deal announcements and completions from Feb. 12-16.

* Hearst Corp. closed the acquisition of WCWG-TV from Lockwood Broadcast Group. The CW (US)-affiliated television station serves North Carolina's Piedmont Triad television market that includes Greensboro, High Point and Winston-Salem, the company said Feb. 16.

* Shutterstock Inc. agreed to sell its digital asset management business, known as Webdam, to Bynder for about $49.1 million in cash. The purchase price is subject to certain adjustments. The closing is expected to occur on or about Feb. 26, the company said in a Form 8-K filed Feb. 16. This acquisition bolsters Bynder's U.S. presence, including the addition of an office in the San Francisco Bay area. Bynder is a digital asset management company.

* Alphabet Inc. unit Google Inc. agreed to buy LogMeIn Inc. unit Xively, an internet of things platform, according to a Feb. 15 company post. reported the deal price to be $50 million. The acquisition, which is subject to closing conditions, will help Google Cloud offer a fully managed IoT service.

* Acxiom Corp. subsidiary LiveRamp Inc. has acquired Pacific Data Partners, which provides data to business-to-business marketers. Acxiom said the transaction has no material impact on its guidance for the fiscal year ended March 31. LiveRamp brought in Pieter De Temmerman and Grant Ries, the co-founders of Pacific Data Partners, to help broaden its IdentityLink identity resolution service's reach to business-to-business marketers.

* Townsquare Media Inc. entered into an agreement to acquire Utica, N.Y.-based classic rock station WOUR-FM 96.9 from Galaxy Communications in a deal expected to close in the second quarter, the company said Feb. 15. Additionally, Townsquare will immediately take over all sales efforts for the station under a joint sales agreement. Townsquare already owns four radio stations in the Utica market: WFRG-FM 104.3, WLZW-FM 98.7, WODZ-FM 96.1 and WIBX-AM 950.

* Oracle Corp. said it inked a deal to acquire Zenedge LLC, a provider of cloud-based network and infrastructure security services that safeguard against complex digital threats. Oracle is looking to benefit from Zenedge services and enhance its offerings in enterprise-grade infrastructure for critical business systems in the cloud without compromising performance, cost, control or security of the clients.

* TEGNA Inc. closed the acquisition of Midwest Television Inc.'s broadcasting stations in San Diego. TEGNA now owns KFMB-TV, the CBS (US)-affiliated station in San Diego, KFMB-D2 and radio broadcast stations KFMB-AM and KFMB-FM in San Diego, the company said Feb. 15. TEGNA now owns or operates 47 television stations and two radio stations in 39 markets. The company expects the transaction to be accretive to EPS by a few cents within the first 12 months after close, and immediately accretive to free cash flow. TEGNA funded the transaction through the use of available cash and borrowing under its existing revolving credit facility.

* Atos SE on Jan. 20 completed its deal to acquire Unify Inc. for a transaction value of €390.0 million. In addition to general closing conditions, the deal required additional review for antitrust concerns.

* Microsoft Corp. bought classroom collaboration startup Chalkup LLC. The startup will become part of the company's Microsoft Education division, according to a Feb. 13 post on Chalkup's website. The startup will stop offering services June 30. Further, Chalkup users can sign up for Microsoft Teams, which is part of Office 365 for Education.

* NeuLion Inc. completed the sale of certain DivX assets, intellectual property and subsidiaries to an affiliate of Fortress Investment Group LLC. Under the agreement, NeuLion is entitled to cash consideration of $41.5 million. The assets sold accounted for about $15.0 million and $20.7 million of the company's consolidated GAAP revenues for the nine months ended Sept. 30, 2017, and the year ended Dec. 31, 2016, respectively. NeuLion also reduced employee headcount across various departments that had been assigned to supporting its DivX business. The assets sold are not core to NeuLion's focus on the over-the-top market powered by the NeuLion Digital Platform, the company said Feb. 12.

* Inc. on Feb. 7 agreed to buy all of the assets of Rental Roost Inc., other than tangible assets, for $500,000. The agreement for Rental Roost, a property hunting website, was effective Jan. 22. The majority stockholders will collectively own about 73.8% of the outstanding common stock of Rental Roost, and each of them is a member of Rental Roost's board. Also on Feb. 7, Overstock struck a deal to buy all or substantially all of the assets of Houserie Inc., other than tangible assets, for $100,000. The majority stockholders collectively own about 90.7% of the outstanding common stock of Houserie, and each of them is a member of Houserie's board. Houserie operates a tenant screening website for landlords.