Takeovers and Buyouts
The latest deal news from across the alternative investment space.
Global technology company Nasdaq (NASDAQ: NDAQ) announced today its acquisition of Canada-based Verafin for $2.75 billion payable in cash. Verafin’s cloud-based software platform serves customers with fraud detection, money laundering protection, and high-risk customer management. The 2003-founded firm counts more than 2,000 financial organizations as its customers.
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Private equity firms Lindsay Goldberg and American Securities are buying assets from construction giant AECOM. The target company issued a report this morning saying it agreed to a deal worth $2.4 billion for its management services division. That arm of the company provides logistics and technical services to the Federal government.
The latest EY report on M&A activity for the year ahead reveals interesting technology trends. EY is a leader in assurance, tax, transaction, and advisory services. The company finds that business leaders have altered their portfolios due to a challenging geopolitical environment. However, the firm notes that 52% of global corporate leaders plan to pursue acquisitions in the next year.
Highview Capital announced it has acquired Gold Star Foods, a specialized food distributor to K-12 child nutrition programs. After the deal closes, Gold Star will merge with an existing Highview portfolio company called Good Source Solutions. The portfolio firm operates in similar segments.
FireEye (FEYE) is reportedly seeking a private equity buyer. The news comes after the firm failed to locate a strategic buyer. The company reportedly hired Goldman Sachs to guide them through the process. Multiple reports suggest that discussions are in the early stages of development.
ADT announced is selling ADT Security Services Canada to TELUS Corporation. Terms of the deal are CAD 700 million in cash, subject to certain adjustments.
Leeds Equity Partners has acquired VitalSmarts from TwentyEighty. Vital Smarts is a provider of communication, execution, and, leadership development training.
Colony Industrial, the massive warehouse division of Colony Capital, now has a new owner. According to reports, Blackstone Group has purchased the warehouse group for $5.9 billion.
Juul, the maker of e-cigarettes, had its CEO replaced amidst the current controversy surrounding its products.
A string of deaths, apparently due to the use of e-cigarettes, led Juul to cease product advertising and government lobbying. At least nine deaths have been attributed in recent months to vaping and e-cigarettes. The Centers for Disease Control reported 530 cases of lung injuries tied to vaping.
Wearable device maker Fitbit may be exploring the feasibility of a sale as competitive pressures mount.
Fitbit has been talking to boutique investment bankers Qatalyst Partners on the subject of engaging with likely acquirers, said Reuters.
Blackstone (BX is on a buying binge in recent weeks. A Blackstone Bellagio deal? Why not? Just a day after announcing the $4 billion buyout of Dream Global Real Estate Investment Trust, Blackstone is back at it. The alternative investment giant said they are in discussions to buy and lease back the Bellagio and MGM…
Deal Makes Blackstone a Big Player in Europe’s Recovering Real Estate Markets Dream Global REIT said Blackstone-managed funds will buy the Canadian firm for C$6.2 billion ($4.69 billion). Blackstone will pay C$16.79 cash per Dream Global unit. The deal will see Blackstone acquire all of the office and industrial property manager’s subsidiaries and assets. This…
The multistate deal allows the firm to pay off unsecured loans Office Properties Income Trust announced the sale of four buildings this week. The buildings are in San Antonio and Arlington Texas, as well as one in Hanover, PA. Gross proceeds for the sale reached $223.2 million before closing costs. The firm will use the…
The deal will see Brookfield take the majority of shares in the mortgage giant Brookfield Business Partners reached an agreement to buy a controlling stake in Canada’s largest private mortgage insurer. Brookfield said it would pay $1.8 billion for a 57% stake in Genworth Canada, according to the press release. The sale further increases the…