Data Wrap
Warburg Pincus LLC bought a minority stake in Spigit for $10 million in cash, and other recent transactions.
October 19, 2009
Target – Acquirer – Description
Akamai Technologies Inc. -- Google Inc.
Google Inc. was rumored to be planning to acquire the entire share capital of Akamai Technologies Inc., a Cambridge-based developer of Internet software.
Cadogan Management LLC -- Investor Group
A management-led investor group, comprised of Cadogan Management LLC's (Cadogan) CEO Stuart Leaf, planned to acquire Cadogan, a New York-based provider of investment management services, in a leveraged buyout transaction. Terms were not disclosed.
Citizens First Corp. -- Porter Bancorp Inc.
Porter Bancorp Inc. was granted an option to raise its stake to 19.7% from 3.9%, by acquiring a 15.8% stake, or 0.311 million common shares, in Citizens First Corp., a Bowling Green-based bank holding company, for $9 per share, or a total value of $2.8 million, in a privately negotiated transaction.
Corporate Tech Solutions -- PAG Capital Partners LLC
PAG Capital Partners LLC acquired an undisclosed majority interest in Corporate Technology Solutions LLC, a Tempe-based provider of cable installation services, in a leveraged buyout transaction.
Crosslands Utility Services -- Casino Management of America
Casino Management of America acquired Crosslands Utility Services Inc., located in Texas, US, develops, markets and services its proprietary, intelligent optical probes and related products.
Digital Lightwave Inc. -- Optel Acquisition Corp.
Optel Acquisition Corp. agreed to acquire the entire share capital of Digital Lightwave Inc., a Clearwater- based manufacturer and wholesaler of computer systems, for $0.055 per share, or a total value of $14.052 million.
Digital Matrix Corp.-Advanced -- Shareholders
Digital Matrix Corp. (DMC) planned to spin off its Advanced Research And Development Group unit, to its shareholders. Upon completion the will be name Digital Matrix Advanced Systems Desgin.
ESO Solutions-Billing Svcs Div -- Intermedix Corp.
Intermedix Corporation acquired the billing services division of ESO Solutions, a Austin-based provider of ePCR software services.
Fairway Outdoor Advertising -- ACON Investments LLC
ACON Investments LLC acquired Fairway Outdoor Advertising, a Augusta-based provider of outdoor advertising services, from Morris Communications Company LLC, in a leveraged buyout transaction. Terms were not disclosed.
IOU Central Inc. -- MCO Capital Inc.
MCO Capital Inc. (MCO) of Canada agreed to acquire the remaining 12.1% stake, which it did not already own, in IOU Central Inc., a Kennesaw- based provider of online lending services, in exchange for 4.448 million MCO common shares and 4.617 million options, valued at $0.471 million. The shares were valued based on MCO's closing stock price of $0.106 on 14 October 2009, the last full trading day prior to the announcement. Concurrently, MCO signed a Letter of Intent to acquire the entire share capital of IOU Central Inc.
Feliciana Home Health Inc. -- LHC Group Inc.
LHC Group Inc. definitively agreed to acquire Feliciana Home Health Inc., a Clinton-based provider of home nursing services.
Keystone North America Inc. -- Service Corp. International
Service Corp. International definitively agreed to acquire the entire share capital of Keystone North America Inc., a Tampa- based owner and operator of funeral homes, for $7.809 per share, or a total value of $202.706 million.
MatrixWatch -- CrowdGather Inc.
CrowdGather Inc. acquired MatrixWatch, a provider of online anti-fraud resource services.
NanoTherapies LLC -- Cancer Therapeutics Inc.
Cancer Therapeutics Inc. (Cancer) signed a Letter of Intent to raise its interest to 51% from 25%, by acquiring 26% stake, in NanoTherapies LLC, a Ashburn-based manufacturer of cancer treatment products, in exchange for 6 million Cancer restricted common shares.
NeoMagic Corp. -- Investor Group
An investor group, comprised of Bluestone Financial Ltd., Mediastone LLC and Attiva Capital Partners Ltd., agreed to acquire a 61. 4% interest, or 20 million new common shares, in NeoMagic Corp., a Santa Clara-based manufacturer and wholesaler of semiconductors, for $0. 03 per share, or a total value of $0.60 million.
Nutrition 21 Inc.-Retail -- Undisclosed Acquirer
Nutrition 21 Inc. signed a Letter of Intent to sell its retail and direct response businesses to an undisclosed acquiror.
OncoCyte Corp. -- Undisclosed Acquirer
BioTime Inc. (BioTime) granted an option to divest a further 15% stake in OncoCyte Corp. (OncoCyte), a provider of research and development services, to an undisclosed acquiror, for $2 million. Concurrently, BioTime divested its 15% stake on OncoCyte, to an undisclosed acquiror.
OncoCyte Corp. -- Undisclosed Acquiror
BioTime Inc. (BioTime) divested its 15% stake in OncoCyte Corp. (OncoCyte), a provider of research and development services, to an undisclosed acquirer, for $2 million. Concurrently, BioTime granted an option to the undisclosed acquiror, to raise its stake to 30% from 15%, by acquiring a further 15% stake in OncoCyte.
Pepsi Cola Bottling Co. of -- Pepsi Bottling Ventures LLC
Pepsi Bottling Ventures LLC signed a letter of intent to acquire Pepsi Cola Bottling Co. of Conway Myrtle Beach Inc., a Conway-based Pepsi-Cola franchise bottler.
Platte River Gold Inc. -- Scorpio Mining Corp.
Scorpio Mining Corp. (Scorpio) of Canada agreed to acquire the entire share capital of Platte River Gold Inc. (Platte), a Reno-based precious and base metal mining company, in exchange for 74.8 million Scorpio common shares, valued at $48.919 million. The shares were valued based on Scorpio's closing stock price of $0.654 on 14 October 2009, the last full trading day prior to the announcement. Upon completion, Scorpio and Platte shareholders were to own 60% and 40% respectively.
Racetrack Group -- SAB Colombia
SAB Colombia plans to acquire Racetrack Group, manufacturer and wholesaler of malt beverages.
Primaeva Medical Inc. -- Syneron Medical Ltd.
Syneron Medical Ltd. agreed to acquire Primaeva Medical Inc., a Pleasanton- based manufacturer of cosmetic pharmaceutical, for an estimated $30 million. The consideration was to consist of $7 million in cash and up to $23 million in profit- related payments.
STL Mktg Grp Inc.-IMAGE Chicago -- Invicta Group Inc.
Invicta Group Inc. acquired the IMAGE Chicago Magazine and the IMAGE Worldwide brands of STL Marketing Group Inc., a Schaumburg-based provider of interactive multimedia marketing and advertising agency services.
Spigit -- Warburg Pincus LLC
Warburg Pincus LLC acquired an undisclosed minority stake in Spigit, a Pleasanton-based developer of social productivity software, for $10 million in cash.
Auwahi Wind Energy LLC -- Sempra Generation
Sempra Generation acquired Auwahi Wind Energy LLC, a Maui-based provider of electric utility services, from Shell WindEnergy Inc. Terms were not disclosed.
Savient Pharmaceuticals Inc. -- Amgen Inc.
Amgen Inc. was rumored to be planning to acquire the entire share capital of Savient Pharmaceuticals Inc., an East Brunswick-based pharmaceutical company.
Shamrock Bk of Florida, Naples -- Florida Shores Bank SE
Florida Shores Bank SE agreed to acquire an undisclosed majority interest in Shamrock Bank of Florida, a Naples-based provider of banking services. Terms were not disclosed.
Thompson Mahogany Co. -- East Teak Fine Hardwoods Inc.
East Teak Fine Hardwoods Inc. (East Teak) merged with Thompson Mahogany Co. (Thompson), a Philadelphia- based wholesaler of fine hardwoods. On completion, Thompson was to operate as a wholly-owned subsidiary of East Teak.
Wingspeed Corp. -- AeroMechanical Services Ltd.
AeroMechanical Services Ltd. (AMA) planned to acquire Wingspeed Corp. Concord-based privately held corporation which developed and marketed products and services for commercial aviation that deliver voice, data and aircraft messaging over Iridium and the Internet, as well as paperless cockpit technologies using wireless data exchange and satellite communications that was placed in Chapter 7 bankruptcy.
Tilera Corp. -- Quanta Computer Inc.
Quanta Computer Inc. planned to acquire an undisclosed minority stake in Tilera Corp., a San Jose-based manufacturer of processor design semiconductors, for $10 million.
Undisclosed Oil & Gas Wells, OH -- Exobox Technologies Corp.
Exobox Technologies Corp. signed a Letter of Intent {LoI} to acquire 15 undisclosed oil and gas wells, oil and gas exploration and production properties located in the Clinton and Marcellus shale region of Ohio, for $13.25 million. The consideration was to consist of an estimated $10.25 million in cash and the assumption of an estimated $3 million in liabilities.
VaxGen Inc. -- OXiGENE Inc.
OXiGENE Inc. (OXiGENE) definitively agreed to acquire the entire share capital of VaxGen Inc. (VaxGen) , a South San Francisco-based biopharmaceutical company, in a stock swap transaction valued at $22.185 million. OXiGENE offered 0.4719 common shares per VaxGen share. Based on OXiGENE's closing stock price of $1.42 on 14 October 2009, the last full trading day prior to the announcement, each VaxGen share was valued at $0.67. Upon completion, OXiGENE shareholders were to own 80%, while VaxGen shareholders were to own 20% of the combined company.
A&E Television Networks Inc. -- Undisclosed Acquiror
An undisclosed acquiror acquired an undisclosed stake in A&E Television Networks Inc., a New York-based owner and operator of TV station.
Commonwealth Natl Bk, MA -- United Financial Bancorp Inc.
United Financial Bancorp Inc. planned to acquire Commonwealth National Bank, a Worcester-based commercial bank.
Corr Wireless Commun LLC -- Cellular South Inc.
Cellular South Inc. planned to acquire Corr Wireless Communications LLC, an Oneonta-based provider of wireless telecommunication services. Terms were not disclosed.
GMX Resources Inc.- Gas Business -- Kinder Morgan Energy Partners
Kinder Morgan Energy Partners LP definitively agreed to acquire a 40% stake in the gas gathering and compression business of GMX Resources Inc., a Oklahoma City-based oil and gas exploration and production company, for $36 million.
Houston Fuel Oil Terminal -- ArcLight Capital Partners LLC
ArcLight Capital Partners LLC acquired the remaining 50% interest, which it did not already own, in Houston Fuel Oil Terminal, a Houston-based provider of storage and transmission services, in a leveraged buyout transaction.
Nautilus Poplar LLC -- Magellan Petroleum Corp.
Magellan Petroleum Corporation (Magellan) acquired a 83.5% interest in Nautilus Poplar LLC, a Poplar- based oil and natural gas exploration and production company for $10.88 million. The consideration consisted of $7.3 million in cash, the assumption of $1.2 million in liabilities and the issuance of 1.7 million Magellan new common shares valued at $2. 38 million. The shares were valued based on Magellan's closing stock price of $1. 4 on 15 October 2009, the last full trading day prior to the announcement.
RPT Energy-Undisclosed Petro -- Hunt Oil Co.
Hunt Oil Co. acquired a 50% interest in the undisclosed petroleum and natural gas leases of RPT Energy (USA) Ltd., a unit of RPT Resources Ltd. for $1. 3 million.
ReliaStar Life Ins. Co.-US & Can -- Reinsurance Grp of America Inc
Reinsurance Group of America Inc. agreed to acquire the & Canadian group life, accident and health reinsurance business of ReliaStar Life Insurance Co., a Minneapolis-based insurance company, from ReliaStar Financial Corp., a unit of ING Groep NV. Terms were not disclosed.
Southside River-Rail Terminal -- Westway Terminal Cincinnati
Westway Terminal Cincinnati LLC, a unit of Westway Group Inc., acquired Southside River-Rail Terminal LLC, a Cincinnati-based provider of terminal operation services, for an estimated $20 million in cash.
Statoilhydro ASA-US Assets -- CNOOC Ltd.
CNOOC Ltd. of Hong Kong, a unit of China-state owned China National Offshore Oil Corp., was rumored to be planning to acquire the US assets of StatoilHydro ASA of Norway, an oil and gas exploration and production company.
Trancite Logic Systems -- A-T Solutions Inc.
A-T Solutions Inc., a unit of CoVant, acquired Trancite Logic Systems, a Boise-based provider of information technology services.
Picoma Inds Inc-Certain Assets -- John Maneely Co.
John Maneely Company definitively agreed to acquire certain assets of Picoma Industries Inc., a Waynesboro-based manufacturer of pipe fittings and couplings. Terms were not disclosed.
Allion Healthcare Inc. -- HIG Capital LLC
HIG Capital LLC definitively agreed to acquire the entire share capital of Allion Healthcare Inc., a Melville-based owner and operator of pharmacies, for $6.6 in cash per share, or a total value of $268. 213 million, including the assumption of $79 million in liabilities, in a leverage buyout transaction.
Bronco Creek Exploration Inc. -- Eurasian Minerals Inc.
Eurasian Minerals Inc. (Eurasian) of Canada agreed to acquire the entire share capital of Bronco Creek Exploration Inc., a Tucson- based mineral mining company, in exchange for 2.128 million common shares valued at $3. 175 million. The shares were valued based on Eurasian's closing stock price of $1. 492 on 16 October 2009, the last full trading day prior to the announcement.
iPCS Inc. -- Sprint Nextel Corp.
Sprint Nextel Corp. agreed to acquire the entire share capital of iPCS Inc., a Schaumburg-based provider of wireless communication services, via a tender offer for $24 in cash per share, or a total value of $807. 588 million, including the assumption of an estimated $405 million in liabilities. The offer was conditioned upon at least a majority of iCPS's shares being tendered on a fully-diluted basis.
Penn Foster Education Grp Inc. -- Princeton Review Inc.
Princeton Review Inc. definitively agreed to acquire the entire share capital of Penn Foster Education Group Inc., a Scranton-based provider of online education services, from Wicks Group of Cos LLC, for $170 million in cash.
Ramco Solutions Inc. -- Beroa Corp.
Beroa Corp., a wholly- owned unit of Beroa Technology Group GmbH, acquired an 80% interest in Ramco Solutions Inc., a Blackwood-based provider of refractory and other construction services.
Texas Mobile Health Inc. -- Bederra Corp.
Bederra Corp. signed a Letter of Intent to acquire Texas Mobile Health Inc., a Seabrook-based provider of mobile diagnostic services.
CBS Corp. -- Seeking Buyer
In October 2009, National Amusements Inc. announced that it was seeking a buyer for its undisclosed minority stake in CBS Corp., a New York-based provider of cable television and advertising services. Concurrently, National Amusements Inc. announced that it was seeking a buyer for its undisclosed minority stake in Viacom Inc.
Viacom Inc. -- Seeking Buyer
In October 2009, National Amusements Inc. announced that it was seeking a buyer for its undisclosed minority stake in Viacom Inc., a New York-based provider of cable television services. Concurrently, National Amusements Inc. announced that it was seeking a buyer for its undisclosed minority stake in CBS Corp.
Data provided by Thomson Reuters
For more information on related topics, visit the following:
