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

Tuesday, April 24, 2018

ZenFi Networks and Cross River Fiber to merge

ZenFi Networks, which operates a high fiber count network across all five boroughs of the City of New York, will merge with Cross River Fiber, which operates high-capacity and latency-sensitive fiber optic backbone spans throughout New Jersey and New York. The deal will create a leading communications infrastructure provider in the New York and New Jersey metro areas with more than 700 route miles of fiber optic network, 130 on-net buildings, 49 colocation facilities and 1,700 outdoor wireless locations with more than 3,000 under contract.  Financial terms were not disclosed.

“The merger of ZenFi Networks and Cross River Fiber allows us to scale our communications infrastructure portfolio across the region, providing a robust fiber and colocation platform enabling the deployment of a wide range of digital services by mobile network operators, telecommunications service providers and large enterprises,” says Ray LaChance, CEO of ZenFi Networks. “The combination enhances our network reach, deepens our product portfolio, and delivers a next generation network infrastructure that is the foundation of tomorrow’s communications networks. In addition, our partnership with Ridgemont Equity Partners further strengthens ZenFi Network’s financial position by providing access to additional capital to continue to deliver on our vision of building the most pervasive and high capacity connectivity platform in the region.

“While both companies have achieved great success to date, as a combined business, our geographic footprint and product capabilities are greatly expanded,” says Vincenzo Clemente, CEO of Cross River Fiber. “We can now offer custom telecommunications solutions in New York, New Jersey and beyond to more wireless mobility, carrier and enterprise customers than ever before. Our teams are cut from the same cloth – we’re both builders and owners of purpose-built fiber optic networks and wireless infrastructure – and together we will provide that cutting-edge network architecture of both fiber and wireless services to an even bigger customer base.”


Sunday, April 22, 2018

Alibaba acquires C-SKY Microsystems for embedded IoT CPUs

Alibaba has acquired Hangzhou Zhongtian Microsystem Co. (C-SKY Microsystems, a leading developer of embedded CPUs, for an undisclosed sum.

C-SKY, which was founded in 2001 and is based in Hangzhou's Hi-Tech Zone, offers a series of 32-bit "C-SKY" embedded CPU cores based on independent intellectual property rights. The chips are widely used in Internet of Things intelligent hardware, digital audio and video, information security, networking and communications, industrial control, and automotive electronics.


Saturday, April 21, 2018

Silicon Labs acquires Sigma Design's Z-Wave (G.9959) business for $240M

Silicon Labs has acquired Sigma Designs' Z-Wave business, including a team of approximately 100 employees, for $240 million in an all-cash transaction.

Z-Wave mesh networking technology based on the open, internationally recognized ITU standard (G.9959).0 More than 2,400 certified, interoperable Z-Wave devices are available from the thriving Z-Wave Alliance of more than 700 manufacturers and service providers worldwide.

Silicon Labs said the deal complements its wireless hardware and software portfolio for the smart home, which includes Wi-Fi, Zigbee, Thread, Bluetooth and proprietary protocols.

"Adding Z-Wave to Silicon Labs' extensive IoT connectivity portfolio allows us to deliver a unified vision for the wireless technologies underpinning the smart home market," said Tyson Tuttle, CEO of Silicon Labs. "A secure, interoperable customer experience is at the heart of how smart home products are designed, deployed and managed. Our smart home vision is one where multiple technologies work securely together, where any device using any of our connectivity options easily joins the home network, and where security updates and feature upgrades occur automatically."

"Together, Silicon Labs and the Z-Wave Alliance and its ecosystems will continue to advance the Z-Wave technology roadmap, delivering innovations that engage millions of smart home product users," said Raoul Wijgergangs, Vice President and General Manager of Z-Wave. "Z-Wave is a proven, broadly deployed technology that just reached the milestone of 100 million devices in the market. The acquisition will drive collaboration and expand access to a diverse ecosystem network of partners including Amazon, Alarm.com, ADT, Samsung SmartThings, Yale, Vivint, Google Home and Comcast."

Tuesday, April 10, 2018

Palo Alto Networks to acquire Secd for Endpoint security

Palo Alto Networks agreed to acquire Israel-based Secdo, a supplier of endpoint security solutions. Financial terms were not disclosed.

Secdo's patented technology uses assisted learning combined with the only thread-level visibility to automatically investigate and respond to every alert from any security technology.

Palo Alto Networks said the acquisition brings sophisticated endpoint detection and response, or EDR, capabilities – including unique data collection and visualization – to its own "Traps" advanced endpoint protection and the Application Framework in order to enhance their ability to rapidly detect and stop even the stealthiest attacks.

"We believe security operations teams need the most advanced and consistent approach to endpoint security. With Secdo's EDR capabilities as part of our platform, we will accelerate our ability to detect and prevent successful cyberattacks across the cloud, endpoint, and network," stated Mark McLaughlin, chairman and CEO of Palo Alto Networks.

"We are delighted to join the Palo Alto Networks team. We founded Secdo to dramatically increase visibility for security operations teams to reduce the time it takes to detect and respond to an alert. The combined capabilities of Secdo and Palo Alto Networks will provide customers the capabilities they need to swiftly and accurately detect and respond to cyberattacks," said Shai Morag, co-founder and CEO of Secdo.
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Tuesday, April 3, 2018

Vodafone sells its mobile towers in India to American Tower

Vodafone India completed the sale of its standalone tower business in India to ATC Telecom Infrastructure Private Limited (a unit of American Tower) for an enterprise value of INR 38.5 billion (EUR 478 million).

Vodafone India is merging with Idea. Both parties announced their intention to sell their individual standalone tower businesses to strengthen the combined financial position of the merged entity. Completion of Idea’s sale of its standalone tower business to ATC is also expected in the first half of this calendar year.

Completion of Vodafone+Idea merger is expected to complete in the first half of the current calendar year.

Monday, April 2, 2018

Qualys acquires software assets of 1Mobility, Singapore

Qualys, which specializes in cloud-based security and compliance, has acquired the software assets of 1Mobility, Singapore. Financial terms were not disclosed.

Qualys said the acquisition enables it to provide enterprises of all sizes with the ability to create and continuously update an inventory of mobile devices on all versions of Android, iOS and Windows Mobile in their environment; and to continuously assess their security and compliance posture, while quarantining devices that are compromised or out-of-compliance. It also allows Qualys to extend its PCI certification to mobile devices and to deliver a highly scalable Enterprise Mobility Management (EMM) solution that permits the distribution of apps and security policies over the air (OTA) to corporate or employee-owned devices (BYOD).

"With the acquisition of 1Mobility, Qualys is uniquely positioned to provide visibility across on-premises, endpoints, cloud(s) and now mobile and IoT environments," said Philippe Courtot, chairman and CEO, Qualys, Inc. "This is critical as companies are accelerating their digital transformation and looking at ways to consolidate their current security and compliance stack while expanding their mobile workforce. 1Mobility has built a comprehensive and well-architected technology that allows organizations to manage and secure mobile and IoT devices at scale, and we welcome them to the Qualys family."

Monday, March 26, 2018

GTT attracts funding from Adelph Capital and Crestview

A group of investors, led by Aleph Capital Partners LLP and Crestview Partners, has committed to invest $175 million in GTT common stock at the closing of the acquisition of Interoute by GTT.

“Aleph and Crestview’s investment is a strong vote of confidence in our vision to create a disruptive market leader with substantial scale, unique network assets and award-winning product capabilities to fulfill our clients’ growing demand for cloud networking services in Europe, the U.S. and across the globe,” said Rick Calder, GTT president and CEO.

GTT's acquisition of Interoute would add 72K km of European fiber to its transatlantic cables


Interoute's European fiber backbone spans 72,000 route kilometers connects nearly 200 data centres and colocation facilities.  Interoute also owns 15 of its own data centers and 33 colocation facilities. Its customers include international enterprises, as well as the world’s major service providers, ICPs and OTT providers. The company also operates 18 Interoute Virtual Data Centres (VDCs) globally, including three in Asia-Pacific, which are tied into its fiber backbone. In October 2017, Interoute launched its "Edge SD-WAN" service.

Interoute offers transport services (wavelength, Carrier Ethernet, managed bandwidth, storage connect, IP transit, cloud connect) and infrastructure services (dark fiber and data center colocation).

Interoute reported revenues of €718 million and adjusted EBITDA of €165 million for the 12 months ending September 30, 2017.

GTT said the merger contributes significant infrastructure, edge and hosted services to its network, as well as over 1,000 strategic enterprise and carrier clients, primarily headquartered in Europe.

In January 2017, GTT acquired Hibernia Networks and its five subsea cables, including Hibernia Express, the lowest latency transatlantic cable system, and eight cable landing stations, new global points of presence, and key clients in the financial services, media and entertainment, web-centric and service provider segments.

Thursday, March 22, 2018

Infomart sells data centers in SJ, Hillsboro and Ashburn

Infomart Data Centers confirmed the sale of three of its data centers and its management company to IPI Data Center Partners Management. Financial terms were not disclosed.

The deal includes Infomart’s data centers in San Jose, California; Hillsboro, Oregon; and Ashburn, Virginia. Combined, the three data centers total 665,000 square feet with 27.2 megawatts of total in-place capacity and 29.7 megawatts of additional expansion potential.

Equinix to acquire iconic Infomart Dallas colo data center for $800m

Equinix has agreed to acquire the Infomart Dallas data center, including its operations and tenants, from ASB Real Estate Investments for $800 million.

The iconic Infomart building, which is located at 1950 N. Stemmons Freeway in Dallas, is one of the largest interconnection hubs in the U.S. and one of the largest buildings in Texas at 1.6 million square feet (147,094.2 m2) over 7 floors.Infomart is currently home to four of eight Equinix Dallas International Business Exchange (IBX) data centers (DA1, DA2, DA3 and DA6), which combined, support approximately 3,500 built out cabinets.

Equinix said the transaction increases the number of its owned assets by four, increasing recurring revenue from owned assets to more than 45 percent. The facility offers multiple, diverse fiber entry points, and provides significant expansion opportunities to Equinix through the existing underdeveloped capacity (approximately 11MW of power), as well as the potential to develop additional capacity (approximately 40MW of power) on land adjacent to the Infomart building. It currently has approximately 45 tenants, including networks, colocation providers, office tenants and Equinix. Today, Equinix is the largest tenant accounting for approximately 40 percent of the lease revenues from the facilities

Monday, March 19, 2018

Enea acquires Openwave Mobility

Enea AB completed its acquisition of Openwave Mobility, a company offering a scalable NFV platform for mobile operators. The acquisition price was approximately US$90 million.

Openwave Mobility is headquartered in California and generated preliminary adjusted revenues of approximately US$27 million in 2017 and an EBIT of US$ 3 million.

ENEA said the acquisition expands its portfolio and addressable market.

Monday, March 12, 2018

Trump blocks Broadcom's proposed takeover of Qualcomm

President Trump signed an executive order prohibiting Broadcom from acquiring Qualcomm or proceeding with any substantially equivalent merger, acquisition, or takeover of the firm whether effected directly or indirectly.

The order cited "credible evidence" that Broadcom, along with its partners, subsidiaries, or affiliates, impairs the national security of the United States.

Trump said he was taking this action upon review of a recommendation from the Committee on Foreign Investment in the United States.

Broadcom issued a statement saying it was reviewing the order.

Qualcomm issued a statement saying all of Broadcom’s director nominees are also disqualified from standing for election as directors of Qualcomm. 'the company will reconvene its 2018 Annual Meeting of Stockholders on the earliest possible date. Stockholders of record on January 8, 2018 will be entitled to vote at the meeting.

Lumentum to acquire Oclaro for $1.8 billion

Lumentum agreed to acquire Oclaro for approximately $1.8 billion in cash and stock.

Under the deal, Oclaro stockholders will be entitled to receive $5.60 in cash and 0.0636 of a share of Lumentum common stock for each share of Oclaro stock, representing a premium of 27% to Oclaro's closing price on March 9, 2018 and a premium of 40% to Oclaro's 30 day average closing price.  Oclaro stockholders are expected to own approximately 16% of the combined company at closing.

The combined company is expected to have annual revenue of $1.733 billion and an operating margin of 19%, prior to synergies from the combination.

Lumentum, which is based in Milpitas, California, supplies a range of optical components and subsystems for telecom, enterprise, and data center networking equipment. The company was created in 2015 as a split off from JDSU.

Oclaro supplies optical components and modules for the long-haul, metro and data center markets. The company is based in San Jose, California.

"Joining forces with Oclaro strengthens our product portfolio, broadens our revenue mix, and positions us strongly for the future needs of our customers.  Oclaro brings its leading Indium Phosphide laser and Photonic Integrated Circuit and coherent component and module capabilities to Lumentum.  The combined company will drive innovation faster and accelerate the development of products to enable our customers to win," said Alan Lowe, Lumentum's President and CEO.  "We are delighted to welcome the talented Oclaro team to Lumentum and look forward to a swift completion of the transaction with a focus on supporting our customers and delivering shareholder value."

"I am very pleased that two of the optical industry leaders, Oclaro and Lumentum, will join forces.  Together, we will be an even stronger player in fiber optic components and modules for high-speed communications and a market leader in 3D sensing.  This is a fantastic combination for all of our stakeholders, including stockholders, employees, customers and partners," said Greg Dougherty, Oclaro's CEO, "I am extremely proud of what the Oclaro team has accomplished over the last five years. We have enjoyed tremendous success and this combination will create even more exciting opportunities for the team."

GTT acquires Accelerated Connections, expanding across Canada

GTT Communications has acquired Accelerated Connections (ACI), a Toronto-headquartered provider of managed networking, voice-over-IP (VoIP) and colocation services, serving large distributed Canadian enterprises. Financial terms were not disclosed at this time.

ACI operates a network connecting all of Canada's provinces, as well as two state-of-the-art data center facilities.

GTT said the acquisition extends its market presence and unique network assets in Canada, including its landing station for GTT Express, the lowest latency transatlantic cable system. The acquisition also adds strategic clients in key vertical markets, including hospitality, retail and financial services.

“ACI’s deep experience in delivering cloud networking services to distributed enterprises in Canada significantly expands GTT’s global presence,” said Rick Calder, GTT president and CEO. “This acquisition demonstrates our commitment to invest in assets and capabilities that enable us to deliver on our purpose of connecting people across organizations and around the world.”

“The combination of ACI and GTT creates a disruptive competitor in the Canadian market,” said Michael Garbe, ACI CEO. “Customers will benefit from access to GTT’s Tier 1 IP network, comprehensive service portfolio, global reach and deep experience in connectivity and managed services. We expect a rapid and smooth integration over the coming months.”



GTT's acquisition of Interoute adds 72K km of European fiber to its transatlantic cables

GTT Communications agreed to acquire Interoute, operator of one of Europe’s largest independent fiber networks and cloud networking platforms, for approximately €1.9 billion ($2.3 billion) in cash.

Interoute's European fiber backbone spans 72,000 route kilometers connects nearly 200 data centres and colocation facilities.  Interoute also owns 15 of its own data centers and 33 colocation facilities. Its customers include international enterprises, as well as the world’s major service providers, ICPs and OTT providers. The company also operates 18 Interoute Virtual Data Centres (VDCs) globally, including three in Asia-Pacific, which are tied into its fiber backbone. In October 2017, Interoute launched its "Edge SD-WAN" service.

Interoute offers transport services (wavelength, Carrier Ethernet, managed bandwidth, storage connect, IP transit, cloud connect) and infrastructure services (dark fiber and data center colocation).

Interoute reported revenues of €718 million and adjusted EBITDA of €165 million for the 12 months ending September 30, 2017.

GTT said the merger contributes significant infrastructure, edge and hosted services to its network, as well as over 1,000 strategic enterprise and carrier clients, primarily headquartered in Europe.

In January 2017, GTT acquired Hibernia Networks and its five subsea cables, including Hibernia Express, the lowest latency transatlantic cable system, and eight cable landing stations, new global points of presence, and key clients in the financial services, media and entertainment, web-centric and service provider segments.

“The acquisition of Interoute represents a major milestone in delivering on our purpose of connecting people, across organizations and around the world,” said Rick Calder, GTT president and CEO. “This combination creates a disruptive market leader with substantial scale, unique network assets and award-winning product capabilities to fulfill our clients’ growing demand for distributed cloud networking in Europe, the U.S. and across the globe. Following our successful, proven acquisition model, we expect to complete this integration within three to four quarters postclose and achieve a post-synergy multiple of seven to eight times Adjusted EBITDA or better on a pro forma basis.”

“This is an exciting next chapter for Interoute, GTT, our customers and our team,” said Gareth Williams, Interoute CEO. “The combined assets and strengths of our two companies create a powerful portfolio of high-capacity, low-latency connectivity, and innovative cloud and edge infrastructure services to support our customers in the global digital economy.”


GTT acquires Amsterdam-based Custom Connect



GTT has acquired Custom Connect, an Amsterdam-headquartered provider of high-speed network connectivity serving multinational enterprises and financial trading firms. Financial terms were not disclosed. Custom Connect, which was founded by Olav van Doorn and Jan Willem Meijer, operates a carrier-neutral MPLS/IP network that integrates SD-WAN and public and private clouds alongside existing data centers, offices, and branches. Its range of services...



GTT Communications, a major global cloud networking provide

Saturday, March 3, 2018

Nutanix to acquire Minjar for multicloud capabilities

Nutanix agreed to acquire Minjar, a start-up with development offices in Bengaluru, India that offers cost control and visibility services for workloads in public clouds. Financial terms were not disclosed.

Minjar' Botmetric service SmartAssist Assurance and SmartAssist Managed Cloud services help enterprises embrace the cloud effectively and optimize their multi-cloud environments for performance and cost.

Nutanix also plans to use Minjar’s technology to bolster its Nutanix Calm automation and lifecycle management product, as well as Xi Cloud Services, a native extension to the Nutanix Enterprise Cloud OS software.

“As companies increasingly rely on the public cloud as part of their critical infrastructure, it’s imperative that they have full visibility into the cost, reliability and security of that infrastructure so that they can effectively manage and automate which workloads run where to maximize performance and ROI,” said Vijay Rayapati, Co-Founder and CEO of Minjar. “We’re so pleased to be joining the Nutanix family to add our technology to the leading edge Nutanix software stack so customers have a simple and elegant experience for managing their multi-cloud environments.”

Monday, February 26, 2018

GTT's acquisition of Interoute would add 72K km of European fiber to its transatlantic cables

GTT Communications agreed to acquire Interoute, operator of one of Europe’s largest independent fiber networks and cloud networking platforms, for approximately €1.9 billion ($2.3 billion) in cash.

Interoute's European fiber backbone spans 72,000 route kilometers connects nearly 200 data centres and colocation facilities.  Interoute also owns 15 of its own data centers and 33 colocation facilities. Its customers include international enterprises, as well as the world’s major service providers, ICPs and OTT providers. The company also operates 18 Interoute Virtual Data Centres (VDCs) globally, including three in Asia-Pacific, which are tied into its fiber backbone. In October 2017, Interoute launched its "Edge SD-WAN" service.

Interoute offers transport services (wavelength, Carrier Ethernet, managed bandwidth, storage connect, IP transit, cloud connect) and infrastructure services (dark fiber and data center colocation).

Interoute reported revenues of €718 million and adjusted EBITDA of €165 million for the 12 months ending September 30, 2017.

GTT said the merger contributes significant infrastructure, edge and hosted services to its network, as well as over 1,000 strategic enterprise and carrier clients, primarily headquartered in Europe.

In January 2017, GTT acquired Hibernia Networks and its five subsea cables, including Hibernia Express, the lowest latency transatlantic cable system, and eight cable landing stations, new global points of presence, and key clients in the financial services, media and entertainment, web-centric and service provider segments.

“The acquisition of Interoute represents a major milestone in delivering on our purpose of connecting people, across organizations and around the world,” said Rick Calder, GTT president and CEO. “This combination creates a disruptive market leader with substantial scale, unique network assets and award-winning product capabilities to fulfill our clients’ growing demand for distributed cloud networking in Europe, the U.S. and across the globe. Following our successful, proven acquisition model, we expect to complete this integration within three to four quarters postclose and achieve a post-synergy multiple of seven to eight times Adjusted EBITDA or better on a pro forma basis.”

“This is an exciting next chapter for Interoute, GTT, our customers and our team,” said Gareth Williams, Interoute CEO. “The combined assets and strengths of our two companies create a powerful portfolio of high-capacity, low-latency connectivity, and innovative cloud and edge infrastructure services to support our customers in the global digital economy.”


GTT acquires Amsterdam-based Custom Connect



GTT has acquired Custom Connect, an Amsterdam-headquartered provider of high-speed network connectivity serving multinational enterprises and financial trading firms. Financial terms were not disclosed. Custom Connect, which was founded by Olav van Doorn and Jan Willem Meijer, operates a carrier-neutral MPLS/IP network that integrates SD-WAN and public and private clouds alongside existing data centers, offices, and branches. Its range of services...



GTT Communications, a major global cloud networking provider serving multinational clients, announced an agreement with Jisc, the provider of digital solutions for the UK research and education community and operator of the Janet network for the delivery of Internet services.Under the agreement, GTT will provide high-speed Internet services for the Janet network to support the research and learning of its approximately 18 million UK college and university...


GTT to Acquire Global Capacity, Building its SD-WAN



GTT Communications agreed to acquire Global Capacity, a provider of enterprise network connectivity solutions, for $100 million in cash and 1.85 million shares of GTT common stock, to be issued to the sellers at closing. Global Capacity, which is based in Waltham, Mass., addresses a range of enterprise network issues including difficulty in load sharing traffic across a mix of access connections, complex, static and manual network configurations...


GTT acquires Perseus for $37.5m



GTT Communications based in McLean, Virginia, a global cloud networking provider to multinational clients, announced the acquisition of Perseus, a provider of high-speed network connectivity that serves major financial and e-commerce companies worldwide.GTT stated that the purchase price for Perseus was $37.5 million, plus the assumption of approximately $3 million in capital leases. GTT anticipates that the purchase price will rep


Friday, February 23, 2018

Zayo to divest its Minnesota Local Exchange Carrier

Zayo Group will sell its Scott-Rice Telephone Co. business unit, a Minnesota ILEC (incumbent local exchange carrier), for $42 million to New Ulm Telecom, Inc.

Zayo acquired Scott-Rice Telephone as part of its March 2017 purchase of Electric Lightwave and has since managed it separately within its Allstream business segment. Scott-Rice Telephone serves residential and business customers in areas of Scott and Rice counties southwest of Minneapolis.

“This transaction represents further progress toward the separation of our Allstream business,” said Matt Steinfort, Zayo’s CFO. “It is consistent with Zayo’s strategic focus on communications infrastructure, and our goal of maximizing the value of our non-core assets.”

Wednesday, February 21, 2018

Antin Infrastructure Partners to acquire FirstLight

Antin Infrastructure Partners (Antin) agreed to acquire FirstLight, a leading fiber-optic bandwidth infrastructure services provider operating in the Northeast U.S., from Oak Hill Capital Partners IV. Financial terms of the transaction were not disclosed.
Antin is a leading independent private equity firm focused on infrastructure investments.

FirstLight originally started as an Albany, New York-focused fiber provider and expanded through the acquisitions of segTEL in New Hampshire and Maine; TelJet in Vermont; G4 Communications in New Hampshire; Oxford Networks in Maine and New Hampshire; Sovernet Communications in Vermont and New York; 186 Communications in New Hampshire, Massachusetts, and Vermont; and Finger Lakes Technologies Group in New York and Pennsylvania.

"We have tremendous respect for all that FirstLight has accomplished to date. We are delighted to be backing Kurt Van Wagenen and his talented team to continue the company's growth strategy, leveraging the success that Antin has had with communications and fiber investments in Europe," said Kevin Genieser, Senior Partner at Antin.

"We are thrilled about this exciting development.  Antin is an experienced fiber investor and an ideal partner to support our growth strategy.  With this acquisition, FirstLight remains well positioned to continue providing the highest levels of service and expanded offerings to enterprise and carrier customers," said Kurt Van Wagenen, President and Chief Executive Officer of FirstLight.\

Broadcom trims its offer for Qualcomm to $79 per share

Broadcom trimmed its offer to acquire Qualcomm from $82 to $79 per share, but said it is still committed to pursuing the deal. The offer consists of $57 in cash and $22 in Broadcom shares.

The decision to cut the price follows Qualcomm's decision to increase its offer to acquire NXP Semiconductor from $110 to $127.50 per share.

Broadcom's proposed merger agreement otherwise remains unchanged, including the $8 billion regulatory reverse termination fee and 6% per annum (net of dividends) ticking fee accruing from and after the 12-month anniversary of the date of the merger agreement.

Monday, February 19, 2018

Google agreed to acquire Xively for enterprise IoT

Google agreed to acquire Xively, a division of LogMeIn, for an undisclosed sum.

Xively offers an enterprise-ready IoT platform with advanced device management, messaging, and dashboard capabilities.

Xively, which was formerly known as Cosm and Pachube, is built on LogMeIn's cloud platform Gravity, which handles over 255 million devices, users, and customers across 7 datacenters worldwide.

Google said the acquisition will be paired with the security and scale of Google Cloud. The solution will also be augmented With Google Cloud’s data analytics and machine learning.

Elliott insists fair value for NXP is $135 per share

Elliott Advisors (UK), which holds an approximate 7.2% economic interest in NXP Semiconductors, is insisting that the take-out value for Qualcomm to acquire NXP should be higher than $135 per NXP share.

Elliot published a presentation in which it argues:

  • NXP is currently one of the most attractive companies in the semiconductor sector
  • NXP has a track record of consistent outperformance versus market expectations over the past year 
  • NXP top-line growth came in above consensus expectations in each of the past four quarters with growth in 2017 Q4 of 16.0% outpacing consensus by 5.8 percentage points;
  • NXP's performance has been driven by impressive results of “Core NXP” (i.e., the Automotive and Secure Connected Devices segments contributing approximately 69%2 of NXP total revenues)
  • In 2017 H2, NXP’s revenue growth was higher than the median growth for its peers, signaling NXP’s potential and giving credibility to consensus expectation that the company should grow faster than peers at 5.3% CAGR (1.5 percentage points ahead of the median for NXP’s peers);
  • NXP is uniquely placed to radically enhance Qualcomm's long-term strategy

http://www.fairvaluefornxp.com/


Broadcom sweetens its bid for Qualcomm


Broadcom boosted its unsolicited bid to acquire Qualcomm to $121 billion, or $82 per share, consisting of $60.00 in cash and the remainder in Broadcom shares. Broadcom described the bid as its "best and final offer", saying that it is prepared to pay to Qualcomm "a significant "reverse termination fee" in an amount appropriate for a transaction of this size in the unlikely event we are unable to obtain required regulatory approvals." Several conditions...

Elliott comments on Qualcomm's extended tender for NXP


Elliott Advisors (UK) published an advisory letter to investment funds that now collectively hold an increased economic interest in NXP Semiconductors N.V. of approximately 6.6%. The advisory argues that that NXP is of significant strategic importance to QUALCOMM Incorporated (“Qualcomm”) and that such a transaction will deliver substantial value to Qualcomm shareholders at prices meaningfully higher than Elliott’s own assessment of standalone intrinsic...

Acquisition still not done - Qualcomm extends cash tender offer for NXP shares


Qualcomm extended the offering period of its previously announced cash tender offer to purchase all of the outstanding common shares of NXP Semiconductors N.V. (NASDAQ: NXPI). The tender offer is now scheduled to expire at 5:00 p.m., New York City time, on February 9, 2018, unless extended or earlier terminated, in either case pursuant to the terms of the Purchase Agreement. American Stock Transfer & Trust Company, the depositary for the tender...

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...


Thursday, February 15, 2018

Oracle acquires Zenedge for cloud-based network security

Oracle agreed to acquire Zenedge, which helps enterprises secure their IT systems whether deployed in cloud, on-premise or hybrid hosting environments. Financial terms were not disclosed.

Zenedge, which is based in El Segundo, California, offers Web Application Firewall (WAF) and Distributed Denial of Service (DDoS) mitigation products. The company said its products help defend over 800,000 web properties and networks globally.

Oracle said the Zenedge acquisition will help expands its Cloud Infrastructure and Domain Name System (DNS) capabilities, adding innovative application and network protection that augments existing Oracle security services and partnerships.

"Customers demand enterprise-grade infrastructure to run their critical business systems in the cloud," said Don Johnson, Senior Vice President of Product Development, Oracle. "Oracle Cloud Infrastructure as a Service delivers leading cloud services to address those needs. The combination with Zenedge equips Oracle Cloud Infrastructure with integrated, next-generation network and infrastructure security, to address modern security threats."

"Customers achieve tremendous results with Zenedge's innovative WAF and DDoS mitigation products, from a 99% reduction in illicit website traffic to a 99.75% improvement in page load times," said Yuri Frayman, CEO of Zenedge. "We could not be more enthusiastic about joining forces with the leader in enterprise-grade cloud infrastructure, and delivering similar results to even more customers at scale."

See also