Showing posts with label Merger & Acquisitions. Show all posts
Showing posts with label Merger & Acquisitions. Show all posts

Thursday, January 11, 2018

Bell Canada acquires a home security company

BCE (Bell) has acquired AlarmForce Industries, a Canadian home security and monitoring company, for approximately $182 million paid in a combination of cash and BCE common shares to shareholders of AlarmForce.

AlarmForce currently serves more than 100,000 subscribers across the country with intrusion, smoke, flood and carbon monoxide detection services; automation services including lighting, climate and lock control systems; and in-home and mobile medical alert systems.

Bell provides security and monitoring services from Bell Aliant NextGen Home Security in Atlantic Canada and from AAA Security, a Bell MTS company, in Manitoba.

Bell also announced an agreement to sell AlarmForce's approximately 39,000 customer accounts in British Columbia, Alberta and Saskatchewan to TELUS Corporation for approximately $66.5 million, an amount per subscriber equivalent to that paid by Bell.

"Bell welcomes AlarmForce as we build on our position as Canada's most trusted name in residential communications with an accelerated focus on Connected Home technology and services," said Rizwan Jamal, President of Bell Residential and Small Business. "Building on our leadership and scale in broadband networks and residential services distribution, installation and customer services, Bell looks forward to delivering new and innovative smart home solutions to residential customers throughout Ontario, Québec, the Atlantic region and Manitoba."

Wednesday, January 10, 2018

Tele2 to acquire Com Hem creating no.2 mobile + broadband in Sweden

Tele2 and Com Hem agreed to a merger that will create the second largest mobile telephony and fixed broadband provider in Sweden and the market leader in digital TV, behind Telia. Com Hem’s shareholders will receive as merger consideration SEK 37.02 in cash plus 1.0374x new B shares in Tele2 for each share in Com Hem. This values the deal at about US$3.3 billion.

Com Hem operates a fiber-coax network serving approximately 1.5 million residential customers across Sweden. The company was established in 1983 and has approximately 1,200 employees. Its head office is in Stockholm.

Tele2, which was established in 1993 and is based in the Kista Science City, Stockholm, Sweden, operates an extensive mobile network across Sweden and has interests in The Netherlands, Lithuania, Latvia, Estonia, Kazakhstan, Croatia, and Germany.

The combined company will have a customer base of 3.9 million mobile customers, 0.8 million broadband customers and 1.1 million digital TV customers in Sweden. Its 4G network will cover the entire country while its broadband network will cover almost 60 percent of Sweden’s households.

The companies cited total annual OPEX, CAPEX and revenue synergies estimated at around SEK 900 million to be achieved within five years. The preliminary combined net sales for the twelve months ended September 30, 2017 are approximately SEK 31.8 billion with an adjusted EBITDA of SEK 9.2 billion and OCF of SEK 6.1 billion, of which Sweden accounted for approximately SEK 22.8 billion of net sales, SEK 7.2 billion of adjusted EBITDA and SEK 5.2 billion of OCF.

Friday, January 5, 2018

Ooma acquires Butterfleye for home security video system

Sunnyvale, California based Ooma, which offers a VoIP service for consumers and small businesses, has acquired Butterfleye, a start-up offering an AI-powered video camera and security platform. Financial terms were not disclosed.

Butterfleye raised $1 million in an Indiegogo campaign in 2016 to launch its security camera. The wire-free Butterfleye camera is designed to detect people, pets, and various sounds. The design features advanced battery technology, 16 gigabytes of internal storage and on-board image processing.

"Butterfleye offers a fantastic intelligent security camera system and we’re excited to add its capabilities to the Ooma Home security service," said Eric Stang, CEO of Ooma. "Our strategy is to build upon Ooma’s smart communications platform to provide advanced connected home solutions and this acquisition is an important step in that direction."

Wednesday, December 20, 2017

France's Iliad to acquire Ireland's Eir for €3.5 billion

Iliad, the fully-integrated operator in France with nearly 20 million subscribers, has agreed to acquire eir, the Irish telecommunications and broadband carrier, for approximately €3.5 billion.

eir, which was formerly the state-owned telecom monopoly in Ireland until 1999 (Telecom Eireann), is currently owned by an investor group including Anchorage Capital Group, L.L.C, Davidson Kempner Capital Management LP, GIC, and management.

The offer from Iliad is backed by NJJ Group, the private investment firm of telecoms investor and operator Xavier Niel, who is a prominent French businessman.  Niel is the founder of and owns 52% of Iliad where he serves as Deputy Chairman and Chief Strategy Officer. Under the deal, NJJ will own 32.9% of eir. Iliad SA will own 31.6% of eir. Shareholders Anchorage Capital Group and Davidson Kempner will retain a combined 35.5% share in the company, respectively 26.6% and 8.9%.

eir had revenue of €1.3 billion and earnings before interest, taxation, depreciation and amortisation of €520 million in the financial year to June 30, 2017. eir has about 32% share of the retail fixed broadband market in Ireland. Its share of the retail mobile market is about 18%.

Some additional notes about eir's operations in Ireland as of 30-September-2017:

  • 1,061,000 total mobile customers
  • 48.5% of customers are on postpay contracts
  • eir has approximately 96% LTE coverage
  • Strong momentum in FTTH connections - 12,000 connections, 72% of customers new to eir
  • 1,700,000 premises passed with fibre, including 80,000 of the 300,000 rural premises 
  • 551,000 fiber broadband connections, 61% of total broadband base
  • 896,000 total broadband connections, up 42,000 or 5% year on year 
  • 25% of customers now on triple or quad play bundles
  • eir Vision TV service has a customer base of 71,000 customers, up 17,000 year on year


Iliad, which operates under the "Free" brand, had nearly 13.4 million mobile and 6.5 million broadband subscribers as of 30-September-2017. Its market capitalisation is approximately €12 billion.

Xavier Niel, Iliad and NJJ Telecom Europe, said: "eir is an essential part of the Irish economy and we have closely followed its transformation over the last five years through the excellent work of its team. We are a long-term investor in the telecoms sector and bring global knowhow to eir. In our businesses in France, Monaco and Switzerland we have consistently delivered investment in infrastructure, while driving down prices for consumers.

Carl Leaver, Chairman of Eircom Holdings (Ireland) Limited, said: “Today marks an important milestone for eir, our customers and indeed for Ireland itself. Iliad and NJJ Telecom Europe bring a wealth of global telecommunications experience which will be of huge benefit to eir and its customers. Coupled with the continued involvement of our existing shareholders, Anchorage Capital and Davidson Kempner, the company is well positioned to continue its operational transformation, underpinned by sustained investment, innovative products and services and improved financial performance”.

The acquisition requires regulatory consent from the government of Ireland and the EU.

Tuesday, December 19, 2017

Bharti Airtel to acquire Tigo Rwanda

Bharti Airtel Limited agreed to acquire Millicom's Rwanda mobile network, which operates under the Tigo Rwanda brand. The companies said the price is approximately 6x 2017 adjusted EBITDA, payable over two years, consisting of a mix of cash, vendor loan note and earn out. Media sources put the price at about US$6 billion.

Tigo Rwanda has about 3.25 million customers. By integrating the assets with its own Airtel Rwanda, Bharti will hold approximately 40% of the market, behind MTN.

Airtel Africa also has operations in 15 other countries, including some acquired properties in Uganda (Warid), Congo B (Warid), Kenya (yu Mobile), and Ghana (Millicom).

Sunil Bharti Mittal, Chairman of Bharti Airtel stated: "Airtel has taken proactive steps in Africa to consolidate and realign the market structure in the last few remaining countries where its operations are lagging on account of lower market share and presence of too many operators. Airtel and Tigo have already merged their operations to create a strong viable entity in Ghana. Today, it has taken yet another important step to acquire Tigo Rwanda to become a profitable and a strong challenger in a two-player market."

Mauricio Ramos, CEO of Millicom, commented: "The sale of our business in Rwanda is in line with our strategy to focus on providing advanced fixed and mobile data services in Latin America. We are very grateful to the government of Rwanda for their support throughout the last eight years, which allowed us to extend digital inclusion to thousands of Rwandans."

Sunday, December 17, 2017

Oracle acquires Aconex for $1.2B - cloud collaboration tools

Oracle agreed to acquire Aconex Limited, which offers a cloud-based, team collaboration scheduler for construction projects, for A$7.80 per share in cash. The deal is valued at approximately US$1.2 billion, net of Aconex cash.

The Aconex project collaboration solution, which is used by some 70,000 organizations worldwide for managing construction projects, connects owners, builders, and other teams. It provides visibility and management of data, documents, and costs across all stages of a construction project lifecycle. Aconex estimates that its software has been used in over $1 trillion in projects to date in over 70 countries.

Aconex was founded in 2000. The company is based in Melbourne, Australia.

Oracle also offers a Construction and Engineering Cloud to help customers in planning, scheduling and delivering large-scale projects.

"Delivering projects on time and on budget are the highest strategic imperatives for any construction and engineering organization," said Mike Sicilia, SVP and GM, Construction and Engineering Global Business Unit, Oracle. "With the addition of Aconex, we significantly advance our vision of offering the most comprehensive cloud-based project management solution for this $14 trillion industry."

"The Aconex and Oracle businesses are a great, natural fit and highly complementary in terms of vision, product, people, and geography," said Leigh Jasper, Founder and Chief Executive Officer, Aconex. "As co-founders of Aconex, both Rob Phillpot and I remain committed to the business and are excited about the opportunity to advance our collective vision on a larger scale, and the benefits this combination will deliver to our customers."

EXFO to acquire Astellia for mobile subscriber awareness

EXFO has launched an all-cash voluntary tender offer to acquire all of the outstanding shares of Astellia, a provider of network and subscriber intelligence solutions for mobile operators. EXFO already holds 33.1% of Astellia's equity.

The offer is proposed at a price of EUR 10 per Astellia share, valuing the entirety of Astellia's equity (on a fully diluted basis) at approximately €25.9 million.

Astellia's real-time monitoring and troubleshooting solution optimizes networks end-to-end, from radio to core.  The company is based in France with significant operations in Spain and a strong presence in Canada, Lebanon, Morocco and South Africa.

"We aim to combine the two companies and create a global leader in the service assurance and analytics industry", said Germain Lamonde, EXFO's founder and Executive Chairman of the Board. "Combining our complementary base of customers, technologies and competencies, as well as our similar corporate cultures, will enable the development of game-changing solutions and services within a large market in rapid transition—all this in the best interests of our customers, employees and shareholders."

Monday, December 11, 2017

Corning to acquire 3M's communications division for $900 million

Corning agreed to acquire 3M’s Communication Markets Division in a cash transaction valued at approximately $900 million. This business consists of optical fiber and copper passive connectivity solutions for the telecommunications industry including 3M’s xDSL, FTTx, and structured cabling solutions and, in certain countries, telecommunications system integration services.

3M’s Communication Markets Division, which is based in Austin, Texas, has an annual turnover of approximately $400 million for its high bandwidth and optical fiber products. This puts the acquisition at less than 7 times the Communication Markets Division’s estimated forward-annual adjusted EBITDA, including expected run-rate synergies.

Corning said it expects the transaction to add $0.07-$0.09 to 2019 EPS. In addition to its operations in Texas, the 3M business also has a dedicated manufacturing facility in Pontchâteau, France, and operations in Hannover, Germany. Approximately 500 3M employees are expected to join Corning upon completion of the transaction.

“Corning leads in optical passive components and solutions. This transaction expands both our global market reach and our high-bandwidth portfolio. It also provides new co-innovation opportunities and enhances our ability to serve customers globally,” said Clark S. Kinlin, executive vice president, Corning Optical Communications. “As the industry’s only true end-to-end manufacturer and supplier of optical solutions, we look forward to bringing these two strong organizations together and welcoming a group of outstanding employees.”

Elliott Advisors says Qualcomm's bid for NXP is too low

Elliott Advisors (UK), which advises funds that collectively hold an economic interest in NXP Semiconductors of approximately 6%, published an open letter stating that Qualcomm's offer to acquire the company is too low. Elliot believes NXP is worth $135 per share on an intrinsic standalone basis – far above the $110 offered by Qualcomm.

Elliott states Qualcomm’s offer of $110 per share is acting as "a ceiling on NXP’s valuation", noting that NXP’s peers have traded up 65% since rumors of Qualcomm’s interest arose.

“We believe NXP’s prospects are bright. Approximately half of NXP’s revenue is exposed to exciting growth engines of the semiconductor market – automotive and industrial,” Elliott stated in its letter to shareholders. “We believe NXP shareholders have the opportunity to unlock a material valuation gap that exists today.”

Qualcomm to Acquire NXP -- Engines for the Connected World

Qualcomm agreed to acquire all of the issued and outstanding shares of NXP for $110.00 per share in cash, representing a total enterprise value of approximately $47 billion. The deal will be financed through cash on hand and $11 billion in new debt. The companies expect total annualized synergies of $500 million within two years of close.

NXP Semiconductors N.V., which headquartered in Eindhoven, Netherlands, employs approximately 45,000 people in more than 35 countries and is known for its mixed-signal semiconductor electronics. The company was known as Philips Semiconductor prior to 2006.

Key markets include automotive, broad-based microcontrollers, secure identification, network processing and RF power. NXP has a broad customer base, serving more than 25,000 customers through its direct sales channel and global network of distribution channel partners.

For Q3 2016, NXP reported revenue of $2.469 billion, up 4.4% over a year ago, and GAAP gross profit of $1.184 billion, up 7.7% over a year ago.

The combined company is expected to have annual revenues of more than $30 billion, serviceable addressable markets of $138 billion in 2020 and leadership positions across mobile, automotive, IoT, security, RF and networking.

Sunday, December 10, 2017

Cisco to acquire Cmpute.io for cloud optimization tools

Cisco will acquire Cmpute.io, a start-up based in Bangalore that optimizes applications by moving workloads between private and multiple public clouds or region, based on current performance metrics and/or spot pricing.  Financial terms were not disclosed.

Cmpute.io, also known as 47Line Technologies, analyzes cloud-deployed workloads and consumption patterns. Its cost-optimization strategies help customers
minimize cloud instance overprovisioning.

Cmpute.io’s team and technology will join Cisco CloudCenter.

Monday, December 4, 2017

Broadcom nominates 11 directors for Qualcomm's Board

Broadcom notified Qualcomm of its intention to nominate a slate of 11 individuals for election to Qualcomm's Board of Directors and to propose certain other matters for the consideration of Qualcomm stockholders at Qualcomm's 2018 Annual Meeting of Stockholders.  The nominated directors are:

  • Samih Elhage, former President of the Mobile Networks Business Group of Nokia Corporation. Previously held the role of Chief Financial and Operating Officer of Nokia Siemens Networks and Nokia Networks, subsidiaries of Nokia. Also served on the Boards of Alcatel-Lucent Corporation, Alcatel Shanghai Bell, and Quickplay Media Inc.
  • Raul J. Fernandez, Vice Chairman of Monumental Sports & Entertainment and former Chairman and CEO of ObjectVideo, Inc. Also served as CEO of Dimension Data North America and as Chairman, CEO and President of Proxicom, Inc. Serves on the Boards of AtSite, Inc. and Perfect Sense, Inc., and previously served as a Director of Kate Spade & Company.
  • Michael S. Geltzeiler, consultant for Temasek Holdings. Previously served as Senior Vice President and CFO of ADT Corporation and before that, CFO and Group Executive Vice President at NYSE Euronext. 
  • Stephen J. Girsky, Managing Partner of VectoIQ, an independent advisory firm. Previously served in a number of capacities at General Motors, including Vice Chairman. Serves on the Boards of United States Steel Corporation, Brookfield Business Partners, Drive.ai, and Valens Semiconductor Ltd. Previously served as a Director of GM following its emergence from bankruptcy and as Lead Independent Director of Dana Holdings Corp.
  • David G. Golden, Managing Partner at Revolution Ventures. Previously spent 18 years at J.P. Morgan, including five years as Vice Chairman and Director of technology, media and telecommunications investment banking. Serves on the Boards of Barnes & Noble Education, Inc. and Blackbaud, Inc. Previously served as a Director of Everyday Health, Inc. and Barnes & Noble, Inc. 
  • Veronica M. Hagen, retired President and CEO of Polymer Group, Inc. (later renamed AVINTIV Specialty Materials Inc). Also served as President and CEO of Sappi Fine Paper and held multiple positions at Alcoa, including Vice President and Chief Customer Officer and business unit president of Alcoa Engineered Products. Serves on the Boards of Newmont Mining Corporation, the Southern Company, and American Water Works Company, Inc. Previously served as a Director of AVINTIV, Jacuzzi Brands, Inc., and Covanta.
  • Julie A. Hill, owner of The Hill Company. Serves on the Board of Anthem, Inc. and was a Director of WellPoint Health Networks Inc. prior to its merger with Anthem. Has been a trustee of the Lord Abbett Family of Mutual Funds since 2004 and previously served as a Director of Lend Lease, Ltd., Resources Connection, Inc., and Holcim US. 
  • John H. Kispert, Managing Partner of Black Diamond Ventures. Previously served as President and CEO and a Director of Spansion, Inc. through its merger with Cypress Semiconductor Corporation. Serves on the Boards of Gigamon Inc. and Barracuda Networks, Inc. Previously served as a Director of Cypress, TriNet Group, Inc., and Extreme Networks, Inc., where he was Chairman. 
  • Gregorio Reyes, former Director and Chairman of the Boards of Dialog Semiconductor plc and LSI Corporation, and former Director of Seagate Technologies Public Limited Company. Previously was a co-founder and Chairman of Sunward Technologies Inc., Chairman and CEO of American Semiconductor Equipment Technologies, and President and CEO of National Micronetics. Held positions at National Semiconductor, Motorola, Fairchild Semiconductor, and Eaton.
  • Thomas S. Volpe, Managing Member of Volpe Investments LLC. Previously CEO of Dubai Group LLC, a diversified investment firm based in the United Arab Emirates, and before that, served as Chairman of Prudential Volpe Technology Group. Served on the Boards of Linear Technology Corporation and EFG-Hermes Holding Company.
  • Harry L. You, President, CFO and Director of GTY Technology Holdings Inc. Previously served as Executive Vice President in the Office of the Chairman of EMC Corporation. Served as CEO of BearingPoint Inc., Executive Vice President and CFO of Oracle Corporation and CFO of Accenture Ltd. Previously served as a Director of Korn/Ferry International.

Hock Tan, President and Chief Executive Officer of Broadcom, stated: "We have repeatedly attempted to engage with Qualcomm, and despite stockholder and customer support for the transaction, Qualcomm has ignored those opportunities. The nominations give Qualcomm stockholders an opportunity to voice their disappointment with Qualcomm's directors and their refusal to engage in discussions with us. In light of the significant value our proposal provides for Qualcomm stockholders, we believe Qualcomm stockholders would be better served by new independent, highly qualified nominees who are committed to maximizing value and acting in the best interests of Qualcomm stockholders."


Broadcom bids $130 billion to acquire Qualcomm

In what could become the largest tech merger to date, Broadcom announced a proposal to acquire all of the outstanding shares of Qualcomm for $70.00 per share in cash and stock, making the offer worth $130 billion in total, a 28% premium over the closing price of Qualcomm common stock on November 2, 2017

Broadcom cites the following benefits of a merged company:

  • Creates a Leading Diversified Communications Semiconductor Company: Qualcomm's cellular business is highly complementary to Broadcom's portfolio, and the combination will create a strong, global company with an impressive portfolio of technologies and products.
  • Accelerates Innovation to Deliver More Advanced Semiconductor Solutions to Global Customers: As a result of enhanced scale, reach and financial flexibility, the combined company will benefit from the ability to accelerate innovation and deliver more advanced semiconductor solutions to its broad global customer base.
  • Compelling Financial Benefits: The combined company will have an enhanced financial profile, benefiting from Broadcom's proven operating model with industry-leading margins. The combined Broadcom and Qualcomm, including NXP, will have pro forma fiscal 2017 revenues of approximately $51 billion and pro forma 2017 EBITDA of approximately $23 billion, including synergies. The transaction is expected to be accretive to Broadcom's Non-GAAP EPS in the first full year after close.

"Broadcom's proposal is compelling for stockholders and stakeholders in both companies. Our proposal provides Qualcomm stockhold

Wednesday, November 29, 2017

Microsemi acquires Vectron's timing business

Microsemi has acquired the high-performance timing business of Vectron International, a Knowles company, for $130 million, excluding working capital adjustments.

Vectron specializes in frequency control, sensor and hybrid solutions using the very latest techniques in both bulk acoustic wave (BAW) and surface acoustic wave (SAW)-based designs from DC to microwave frequencies. Products include crystals and crystal oscillators; frequency translators; clock and data recovery products; SAW filters; SAW oscillators; crystal filters; SAW and BAW based sensors and components used in telecommunications, data communications, frequency synthesizers, timing, navigation, military, aerospace, medical and instrumentation systems.

Monday, November 27, 2017

McAfee to Acquire Skyhigh for CASB

McAfee agreed to acquire Skyhigh Networks, a start-up offering a cloud access security broker (CASB), for an undisclosed sum.

Skyhigh Networks, which is based in Campbell, California, provides its clients with visibility into content, context, and user activity across SaaS, PaaS and IaaS environments. Skyhigh Networks CEO Rajiv Gupta will join McAfee CEO Chris Young’s leadership team to run McAfee’s new cloud business unit.


“Skyhigh Networks had the foresight five years ago to realize that cybersecurity for cloud environments could not be an impediment to, or afterthought of, cloud adoption,” Young stated. “They pioneered an entirely new product category called cloud access security broker (CASB) that analysts describe as one of the fastest growing areas of information security investments of the last five years – where Skyhigh continues to innovate and lead. Skyhigh’s leadership in cloud security, combined with McAfee’s security portfolio strength, will set the company apart in helping organizations operate freely and securely to reach their full potential.”

“Becoming part of McAfee is the ideal next step in realizing Skyhigh Networks’ vision of not simply making the cloud secure, but making it the most secure environment for business,” Gupta said. “McAfee will provide global scale to further accelerate Skyhigh’s growth, with the combined company providing leading technologies and solutions across cloud and endpoint security – categories Skyhigh and McAfee respectively helped create, and the two architectural control points for enterprise security.”

Trend Micro acquires Immunio and for hybrid cloud security

Trend Micro announced the acquisition of Montréal, Canada-based Immunio, a pioneer in real-time web application security (RASP), providing automatic detection and protection against application security vulnerabilities. Financial terms were not disclosed.

Immunio's mission is to make truly effective real-time web protection technology easily available and widely deployed, and by doing so, stop the biggest source of breached data records.

“We are excited to acquire Immunio’s application protection technology, their team of application security experts and their customers,” said Bill McGee, SVP and GM of Hybrid Cloud Security at Trend Micro. “Technology changes, like cloud computing and container platforms, are enabling faster application development. Immunio’s run-time application security allows our customers to increase protection against software vulnerabilities within the applications they are building.”

Trend Micro is also enhancing its container-specific security capabilities, by supporting container image scanning, which allows security issues to be identified and resolved prior to production release. Customers will be able to scan images in the container registry so that development teams can fix issues prior to deployment and apply run-time protection capabilities based on findings from the imaging.

Sunday, November 19, 2017

Broadcom completes Brocade acquisition - one year since bid

Broadcom completed its acquisition of Brocade Communications Systems.

Brocade will operate as an indirect subsidiary of Broadcom and will be led by Jack Rondoni as General Manager. Previously, Rondoni served as Senior Vice President of Storage Networking at Brocade, having joined the company in 2006.

"We are pleased to complete this transaction, which strengthens Broadcom's position as a leading provider of enterprise storage and networking solutions and enables us to better serve our OEM customers," said Hock Tan, President and Chief Executive Officer of Broadcom. "Broadcom has a track record of successfully integrating and growing companies we acquire, enabling us to offer customers a leading portfolio of best-in-class franchises across a diverse set of technologies. We intend to invest in and grow the Brocade business to further enhance its capabilities in mission-critical storage networking."

Broadcom to Acquire Brocade for Fibre Channel Business

Broadcom agreed to acquire Brocade Communications Systems for $12.75 per share in an all-cash transaction valued at approximately $5.5 billion, plus $0.4 billion of net debt.

Broadcom plans to keep Brocade's Fibre Channel storage area network (FC SAN) switching business and divest Brocade’s IP Networking business, consisting of wireless and campus networking, data center switching and routing, and software networking solutions.

Broadcom expects to fund the transaction with new debt financing and cash available on its balance sheet.

The companies said the deal is not subject to any financing conditions, nor is it conditioned on the divestiture of Brocade’s IP Networking business.

Broadcom said key reasons for the acquisition include the profitability margin for Brocade's FC SAN business, which currently comprises vast majority of Brocade’s non-GAAP operating profit.

Extreme to Acquire Brocade's Switching Business for $55 Million

Extreme Networks agreed to acquire Brocade Communications Systems' data center switching, routing, and analytics business from Broadcom following Broadcom's acquisition of Brocade. The deal is valued at $55 million in cash, consisting of $35 million at closing and $20 million in deferred payments, as well as additional potential performance based payments to Broadcom, to be paid over a five-year term. The sale is contingent on Broadcom closing its acquisition of Brocade, previously announced on November 2, 2016 and approved by Brocade shareholders on January 26, 2017. Broadcom presently expects to close the Brocade acquisition in its third fiscal quarter ending July 30, 2017.

Monday, November 13, 2017

NTT Communications to Acquire Secure-24

NTT Communications (NTT Com) agreed to acquire Secure-24 Intermediate Holdings, Inc. (Secure-24), a U.S.-based leading provider of comprehensive managed services. Financial terms were not disclosed.

Secure 24, which is based in Southfield, Michigan, uses proprietary automated operation tools to deliver managed security services.

NTT Com and NTT Group companies including Dimension Data expect to combine Secure-24 services to enhance their ability to meet hybrid IT requirements, including Secure-24’s portfolio of managed application and database services, including SAP, SAP HANA, Oracle, Hyperion, JD Edwards, Microsoft, Epic, custom, industry and other mission-critical applications.

Tuesday, November 7, 2017

Proofpoint acquires Cloudmark for $110 million

Proofpoint, a cybersecurity company based in Sunnyvale, California, agreed to acquire Cloudmark, which specializes in messaging security and threat intelligence for Internet Service Providers (ISPs) and mobile carriers worldwide. The price is $110 million in cash.

Cloudmark correlates email threat telemetry data into its Global Threat Network, including intelligence derived from malware campaigns and targeted attacks like spear phishing and business email compromise (BEC).

Proofpoint plans to integrate the Cloudmark Global Threat Network into its Nexus platform, which powers Proofpoint’s product effectiveness across the portfolio covering email, social media, mobile and SaaS products.

“We are excited to welcome Cloudmark’s ISP and mobile carrier customers to Proofpoint,” said Gary Steele, Chief Executive Officer of Proofpoint. “By combining the threat intelligence from Cloudmark with the Proofpoint Nexus platform, we can better protect all of our customers – both enterprises and ISPs – from today’s rapidly evolving threats.”

Private equity firm acquires AVST, a developer of Unified Communications software

StoneCalibre, a privately funded investment firm based in Los Angeles, has acquired Applied Voice & Speech Technologies (AVST), a developer of software-based Unified Communications (UC) solutions for businesses.

AVST has now been merged with XMedius Solutions Inc. The new company, which will have its headquarters in Montreal, will focus on communication tools that leverage voice and data through IP networks using different types of enterprise-grade solutions, either on-premises or in the cloud. AVST designs, delivers and supports software-based UC voice solutions. XMedius provides secure file exchange software solutions. Together, AVST and XMedius have over 500 partners and nearly 4,500 active customers worldwide.

"We are extremely pleased to announce this compelling transaction, as it brings together two highly complementary companies as part of the StoneCalibre family", said Brian Wall, Founder and Chief Executive Officer of StoneCalibre. "Both have long track records of innovation and commitment to helping their customers build cutting-edge solutions for today's business environments. And, while AVST focuses on improving the productivity of its customers' communications, XMedius enables those communications to be secure."

Monday, November 6, 2017

Symantec acquires SurfEasy for personal VPN

Symantec has acquired SurfEasy, a leading Virtual Private Network (VPN) provider, from Opera Software, its parent company. Financial terms were not disclosed.

SurfEasy's personal VPN ensures online privacy and security on smartphones, tablets and computers. SurfEasy has been an existing OEM technology provider to Symantec, powering Symantec’s Norton WiFi Privacy product with VPN technology.

SurfEasy will become part of Symantec’s Consumer Business Unit, which includes the Norton and LifeLock brands, bringing VPN to the portfolio of Consumer Digital Safety solutions.

“SurfEasy has been a great partner to Symantec and we look forward to bringing their expertise and leading technology inside the company,” said Greg Clark, Symantec CEO. “The addition of SurfEasy to our Consumer business will benefit our customers as we continue to strengthen our Norton WiFi Privacy solution so consumers can use public Wi-Fi without fear of exposing their information to cyber criminals.”

Friday, November 3, 2017

Continental acquires Argus Cyber Security

Continental has acquired Argus Cyber Security (Argus), a start-up focused on vehicle cyber security. Financial terms were not disclosed.

Argus, which was founded in 2013, is headquartered in Tel Aviv, Israel and has a team of more than 70 people. The company has 38 granted and pending patents in the area of cyber security for automobiles.

Continental said the acquisition the acquisition will help it to better address the needs of vehicle manufacturers and suppliers around the world in defining and implementing strategies and countermeasures to minimize the exposure of vehicles to cyber risks. The goal is to provide multi-layered, end-to-end security and services including intrusion detection and prevention, attack surface protection and fleet cyber security health monitoring and management via a security operations center (SOC) to protect vehicles in the field over their entire lifespan. The companies will also provide software updates over-the-air solutions.

Argus will be a part of EB, Continental's stand-alone software company and will continue to engage in commercial relations with all automotive suppliers globally.

"Only secure mobility is intelligent mobility. With the acquisition of Argus Cyber Security we are enhancing our abilities to directly develop and offer solutions and services with some of the world's leading automotive cyber security experts to our customers around the globe in order to truly make mobility more intelligent and secure," says Helmut Matschi, member of the Executive Board at Continental and head of the Interior division.

"Argus was founded with a vision to protect all vehicles on the road from cyber threats. To this end we have developed the most comprehensive automotive cyber security offering in the industry and enjoy global recognition of our leadership. Joining forces with Continental and EB will enable us to further accelerate the realization of that vision," says Ofer Ben-Noon, Co-Founder and CEO of Argus Cyber Security.

See also