Weekly wrap: Global Payments, TSYS, Genstar, Insight Partners

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Target Acquirer Value ($millions) Synopsis
Total System Services Inc Global Payments Inc 21994.3 Global Payments Inc (Global Payments) definitively agreed to merge with Total System Services Inc (Total System), a Columbus-based provider of financial transactions services, in a stock swap transaction valued at $21. 994 billion. Global Payments offered 0.8101 common share per Total System share. Based on Global Payments' closing stock price of $153.44 on 24 May 2019, the last full trading day prior to the announcement, each Total System share was valued at $124.302. Upon completion, Global Payments and Total System were to own 52% & 48% in the merged entity respectively. Originally, in May 2019, Global Payments was rumored to be planning to acquire Total System.
Frontier Communications Corp-Operations & All Associated Assets Frontier Communications Corp-Operations & All Associated Assets SPV 1352.0 Frontier Communications Corp-Operations & All Associated Assets SPV, a special acquisition vehicle formed by Searchlight Capital Partners LP and WaveDivision Capital LLC, definitively agreed to acquire Operations & All Associated Assets of Frontier Communications Corp located in Washington, Oregon, Idaho, and Montana, a Norwalk-based provider of telecommunications services, for an estimated $1.352 billion in cash, in a leveraged buyout transaction.
Prometheus Group Enterprises LLC Genstar Capital LLC 1000.0 Genstar Capital LLC acquired an undisclosed majority interest in Prometheus Group Enterprises LLC (Prometheus Group), a Raleigh-based provider of software application services, from Francisco Partners LP (Francisco), for an estimated $1 bil, in a secondary buyout transaction. Originally, Francisco acquired an undisclosed majority interest in Prometheus Group.
Recorded Future Inc Insight Venture Partners LLC 780.0 Insight Venture Partners LLC agreed to acquire the entire share capital of Recorded Future Inc, a Somerville-based software publisher, for a total $780 million in cash, in a leveraged buyout transaction.
Rical LLC Better Collective A/S 21.0 Better Collective A/S of Denmark acquired a 60% interest in Rical LLC, a Nashville-based internet portal operator, for a total $21 million. The consideration consisted of $17.85 million in cash and $3.15 million in ordinary shares.
C-III Commercial Mortgage LLC-Commercial Real Estate Mortgage Loans Portfolio Exantas Capital Corp 13.8 Exantas Capital Corp acquired commercial real estate mortgage loans portfolio of C-III Commercial Mortgage LLC, a New York-based provider of real estate credit services, owned by C- III Capital Partners LLC, for a total $13.776 million. The deal was valued based on the 7% standard capitalization rate.
Houston Office Properties(3) Holloway Lodging Corp 13.2 Holloway Lodging Corp of Canada acquired 3 Houston Office Properties, a Houston-based lessor of nonresidential buildings, for a total $13.2 mil.
Lukes Landscaping Inc Brightview Holdings Inc Brightview Holdings Inc acquired Lukes Landscaping Inc, an Orlando-based provider of landscaping services. Concurrently, Brightview Holdings Inc acquired Desert Classic Landscaping.
Desert Classic Landscaping Brightview Holdings Inc Brightview Holdings Inc acquired Desert Classic Landscaping, a Phoenix-based provider of landscaping services. Concurrently, Brightview Holdings Inc acquired Luke Landscaping Inc.
A Plus Energy Services Holding Co Employee Stock Ownership Plan A Plus Energy Services Holding Co ESOP planned to acquire A Plus Energy Services Holding Co, a Dublin-based electric power generation facility operator.
Roundpoint Mortgage Servicing Corp Freedom Mortgage Corp Freedom Mortgage Corp planned to acquire the entire share capital of Roundpoint Mortgage Servicing Corp, a Charlotte-based provider of sales financing services, from RoundPoint Financial Group Inc.
Drawbridge Inc LinkedIn Corp LinkedIn Corp, a unit of Microsoft Corp, agreed to acquire Drawbridge Inc, a San Mateo-based provider of marketing consulting services.
LiveU Inc LiveU Inc SPV LiveU Inc SPV, jointly owned by Francisco Partners LP and Israel Growth Partners Acquisition Corp, acquired an undisclosed majority interest in LiveU Inc, a Hackensack-based manufacturer of communications equipment, in a leveraged buyout transaction.
Rainmaker Digital Services LLC Nimble Worldwide Nimble Worldwide acquired Rainmaker Digital Services LLC, a Dallas-based provider of data processing and hosting services, from Copyblogger LLC.
Panorama Meats Perdue Farms Inc Perdue Farms Inc acquired Panorama Meats, a Woodland-based beef cattle farming establishment.
Tantiv4 Inc Spiridon Technologies Ltd Spiridon Technologies Ltd of Canada acquired Tantiv4 Inc, a Milpitas-based provider of custom computer programming services.
Advisory Research Inc-Midstream Energy Business Tortoise Capital Advisors LLC Tortoise Capital Advisors LLC definitively agreed to acquire midstream energy business of Advisory Research Inc, a Chicago-based investment advisor, ultimately owned by Piper Jaffray Cos.
Phoenix Technology Corp West Physics Consulting LLC West Physics Consulting LLC acquired Phoenix Technology Corp, a Woodstock-based diagnostic imaging center operator.
US M&A Deals Announced May 24 to 31, 2019
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