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, Cvent invests in mobile tech with its acquisition of DoubleDutch, Maven expands its coalition of independent publishers with the planned acquisition of TheStreet, and Salesforce announces a definitive agreement to acquire Tableau.
Cvent Expands Mobile Tech With DoubleDutch Acquisition
The events and hospitality industries have seen their fair share of acquisitions recently. Here’s another one for the books: Cvent has officially acquired the mobile event app provider DoubleDutch. The acquisition accelerates Cvent’s own investments in mobile event technology and the growth of its distinctive mobile application and online solution capabilities.
The acquisition of DoubleDutch is Cvent’s fifth purchase since May 2018, showcasing that it has a continued stake in trying to grow further in the ever-expanding mobile application platforms.
Previous acquisitions include web-based event planning platform Social Tables, mobile event app developer QuickMobile, and online event booking platform Kapow. No financial terms of the current transaction were publicly disclosed.
Maven Expands Coalition With Acquisition of TheStreet
The online platform provider Maven, Inc. has entered into an agreement to acquire financial news provider TheStreet for an estimated $16.5 million in cash.
Maven’s digital platform reaches more than 100 million consumers worldwide, providing a great way for many of its independent media partners to amplify their work.
“This marks Maven’s third acquisition in the last year, advancing its ongoing mission to empower the growing coalition of independent media partners on Maven’s digital distribution and monetization platform,” Maven announced in a press statement.
Joining brands such as Maxim and History, TheStreet’s acquisition is intended to boost Maven’s own network with recognized financial analysts as well as more premium content and thousands of subscribers. The combined companies are expected to generate $50 million in revenue over the ensuing four quarters; the transaction is expected to be completed by the end of the third quarter of this year.
Salesforce Set to Add Data Visualization With Tableau
CRM software giant Salesforce announced a definitive agreement to acquire data visualization company Tableau for $15.7 billion in an all-stock deal.
This takeover represents the largest acquisition in Salesforce’s history. Salesforce believes that using Tableau’s analytics platform to help people see and understand data is a complementary addition to its strong CRM platform, which would help clients better engage and understand their customers.
On its new services page, Tableau puts the benefit of the combination in clear terms: “Salesforce revolutionized Customer Relationship Management (CRM) by leveraging the power of the cloud. Tableau puts that rich customer data to work by providing analytics for everyone in your organization.”
In Other News
These are some other notable deals or developments from the past week:
- Australian packaging company Amcor Limited has officially completed the acquisition of Bemis Company in a deal valued at $6.8 billion.
- An emerging leader in the Ethernet silicon switch for the data center, Barefoot Networks seemed to have found its niche, but is now a part of an official agreement be bought by Intel.
- Private equity firm Apollo Global Management announced that it is acquiring online photo publishing company Shutterfly for $2.7 billion. The private equity firm will also privately acquire Snapfish, an internet-based photo sharing and photo printing service, with the intent to merge it with Shutterfly.
- Tax preparation company H&R Block announced that it has reached an agreement to acquire the business accounting software provider Wave Financial for $405 million in cash.
- Defense contractors Raytheon Company and United Technologies Corporation announced that they are joining forces to create a defense and aerospace powerhouse. The combined company will be valued at more than $100 billion after certain divestitures, which would make it the world’s second largest defense and aerospace company after Boeing.