In keeping with our mission to provide comprehensive advertising analysis, MediaRadar puts together a report of the most important mergers and acquisitions news each week. Stay in the loop, whether you sell advertising space or focus on business development.
This week, The New York Times Company pursues audio by gaining Audm, Thoma Bravo acquires Instructure and FaceBank Group and fuboTV enter into a merger agreement.
The New York Times to produce new audio content with Audm
The New York Times Company has acquired Audm, a startup that converts long-form journalism into audio content.
Audm distinguishes itself from other text to voice applications by using professional voice actors to narrate content. This creates a more enjoyable experience for listeners and readers.
In the App store, Audm was ranked No. 20 in the Magazines & Newspapers category and also works with several well known publishing partners such as Wired, The Atlantic, Esquire, Harper’s Bazaar, The New York Review of Books, ProPublica, London Review of Books, and others.
Thoma Bravo acquires educational technology provider Instructure
A leading private equity firm focused on software and technology-enabled services, Thoma Bravo, has acquired Instructure for $2 billion.
Instructure is an educational technology provider known for its Canvas and Bridge platforms which service over 30 million users world-wide. Through the Canvas and Bridge platforms, Instructure provides learning management solutions for businesses and educational institutions.
With over $35 billion in capital commitments, Thoma Bravo plans to work with Instructure’s management team to create growth initiatives and develop their products.
FaceBank Group and fuboTV enter into merger agreement
FaceBank Group, Inc. and fuboTV, Inc., a live TV streaming platform, have announced that they have entered into a definitive merger agreement.
FaceBank Group is a leading developer of personal digital likeness assets of celebrities and consumers. They are globally recognized for developing hyper-realistic digital humans for use in AI, entertainment, personal productivity, and social networking.
Through this merger, fuboTV will become a subsidiary of FaceBank, and FaceBank will rebrand to fuboTV. This deal is expected to create a leading content delivery platform by combining fuboTV’s DTC live TV streaming and FaceBank’s technology-driven solutions.
This merger will also drive fuboTv’s global expansion by utilizing FaceBank’s eCommerce platform, Nexway AG, which has a reach that spans 180 countries and accepts payments in 140 countries.
In Other News
Other deals are brewing. See what is still happening despite these turbulent times:
- Microsoft Corporation announced that it is acquiring Acton, Massachusetts-based mobile network solution provider Affirmed Networks, Financial terms of the deal were not disclosed, but Affirm had previously raised $155 million before the acquisition.
- Los Angeles Clippers owner, Steve Baller, has reached an agreement to acquire Inglewood, CA-based music venue The Forum from The Madison Square Garden Company. Formally, the venue will be acquired through the newly formed venture, CAPSS LLC, to the tune of $400 million in cash.
- According to Financial Times, Facebook Inc. is eyeing Indian telecommunication provider Reliance Jio. The report indicates that Facebook was close to buying a 10% stake in the telecom company, which carries a price tag in the multi-billion dollar range.
- Amid the coronavirus crisis, Amazon Inc. is looking to expand its reach in the grocery business by buying Fairway Market supermarkets that are based in the New York metropolitan area.