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, Dribble expands with Creative Market. Nvidia acquires Mellanox Technologies and Twin River Worldwide Holdings, Inc. diversifies across eight states.
Dribble acquires Creative Market
Dribble, social networking for designers and creative professionals, announced its acquisition of Creative Market, a marketplace for design assets, such as fonts, icons, illustrations and photographs.
Financial terms of the deal were not disclosed, and the two companies will continue to operate independently. Dribble has approximately 6 million monthly users, and makes its revenue from job boards, advertising and member subscriptions.
The two companies have had good working relationships in the past and good understanding of each other’s businesses. Bringing the two platforms together would naturally complement each other and attract 12 million monthly active users in more than 120 countries.
Nvidia closes its purchase of Mellanox Technologies
Nvidia Corporation announced that it has completed the acquisition of computer networking products supplier Mellanox Technologies for $7 billion. Mellanox is an Israel-based company that sells networking and storage equipment to corporations that use data servers and storage systems.
Nvidia, famous for its graphics cards, has quickly become a leader in artificial intelligence computing in recent years. Adding Mellanox gives Nvidia the expertise in data center services.
Combined with its already leading artificial intelligence business, Nvidia will be in a prime position to offer corporate customers higher computing performances and at lower costs.
TRWH significantly expands its reach
Twin River Worldwide Holdings, Inc. is expanding quickly.
It is acquiring:
- Bally’s Atlantic City Hotel & Casino for $25 million from Caesars Entertainment Corporation.
- Eldorado Shreveport Resort and Casino and Mont Bleu Resort Casino & Spa for $155 million from Eldorado Resorts, Inc.
Twin River believes that these acquisitions will allow it to diversify across eight states and significantly expand its reach in the respective states in which the casinos are located.
According to Casino.org, given Caesars’ bankruptcy status and the lingering merger between Eldorado and Caesars, acquiring Bally’s for $25 million is reminiscent of a fire sale price.
In Other News
Apart from these acquisitions, there is activity in the rumor mill and important news updates.
- According to Axios, Google, LLC is in talks to acquire cloud software company D2iQ Inc. Though no transaction value was leaked, the price is expected to be between $250 million and $775 million based on D2iQ’s recent funding rounds.
- UnitedHealth’s Optum, a pharmacy benefit manager and care services group, is reportedly in advanced talks to acquire remote mental health provider AbleTo for about $470 million.
- The chair of the House Judiciary’s antitrust subcommittee, David Cicilline (D-R.I.), recently proposed a formal moratorium on all M&A activity outside of dire situations, such as companies going bankrupt or for those on the brink of insolvency.
- J.C. Penney Co. Inc. is in advanced talks for bankruptcy funding with a group of lenders, in yet another show of a distressed retailer poised to succumb to the increased economic vulnerability caused by the coronavirus pandemic.
- Aluf Holdings, Inc. has announced plans to unwind its acquisition of Interaqt Corporation (“COLOTRAQ”), the first and largest broker and master agency that specializes in data center infrastructure. The deal was completed nearly a year ago to the day.
- Synergy Research, a market research leader, released a report last week showing that data center M&A activity did particularly well in the last quarter, already pushing the value of completed deals in the market past 2019 levels. The upsurge is mostly credited to the $8.4 billion Interxion acquisition by Digital Realty which closed last month.