IBC365 looks back at some of the notable mergers and acquisitions of the past month within the media and technology industry.
US digital media companies in bidding war for Tegna
Allen Media Group is the third company to submit a bid to acquire broadcast media company Tegna.
The company has matched Gray Television’s $8.5 million offer but making its own offer all in cash.
Tegna received bids from rivals Gray Television and Apollo in the past week, causing a strategic bidding war.
- Read more: Byron Allen Makes Acquisition Offer for Tegna Station Group
- Read more: Gray Television and Apollo submit rival $8.5bn bids for Tegna
Aperi product line acquired by Net Insight
Last week, Net Insight bought media processing SaaS company Aperi’s live IP media virtualisation platform and software product portfolio.
Products from within the company’s portfolio with be added onto Net Insight.
Aperi chief executive Joop Janssen celebrated the acquisition saying, “Net Insight is the ideal new home”.
Black Dragon Capital to acquire Grass Valley
Belden announced in February that its live media business Grass Valley is to be acquired by private equity firm Black Dragon Capital.
Black Dragon Capital, led by former Avid CEO Louis Hernandez made the move to purchase Grass Valley from Belden after the company announced last October its plans to divest Grass Valley following a strategic portfolio review.
- Read more: Black Dragon Capital to acquire Belden’s Grass Valley
- Read more: Belden confirms plans to divest Grass Valley
Xperi set to merge with TiVo
Audiovisual technology company Xperi received an unsolicited takeover bid last month amidst its plans to merge with TiVo.
Metis Ventures, owned by former Xperi CEO offered $1.2 billion for the company, which would represent a 20% premium on its share price.
However, Xperi has not engaged with the bid, restating its commitment to complete the merger with TiVo
- Read more: Ex-CEO bids $1.2bn for Xperi ahead of TiVo merger
- Read more: TiVo merges with tech firm Xperi in $3bn deal
Comcast buys AVOD Xumo
Comcast bought ad-supported streamer Xumo is a deal reported to be worth over $100 million.
Comcast confirmed the acquisition last month and declared that Xumo will continue to operate as an independent business inside of Comcast Cable.
Xumo appears to have been an attractive purchase for Comcast, as Xumo reported 5.5 million active users last year. The company saw 300% year-on-year growth in revenue during the first quarter of 2019, according to chief executive Colin Petrie-Norris who spoke to Business Insider.
- Read more: Comcast acquires ad-supported streamer Xumo