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.
Google buys 3D audio tech company Dysonics
Google has acquired 3D audio tech company Dysonics. Dysonics has submitted patents for motion tracked binaural sound conversion of legacy recordings which modify sound output based on a user’s head position and enable VR-like spatial awareness.
The acquisition could lead to developments of new features for the Pixel Buds, allowing them to be more competitive with Apple’s AirPods Pro and AirPods Max.
The deal appears to have closed in December, without any announcement or press release from either company, but was disclosed in a filing with the U.S. Patent and Trademark Office.
The acquisition appears to be an attempt at end-to-end VR audio solutions, using Google’s resources to build upon Dysonics’ Rondo360 goal of streamlining audio tools for VR videos.
Altice USA picks up Morris Broadband
Altice USA announced on Tuesday that it has finalized its acquisition of Morris Broadband. The deal, which is valued around $310 million, is expected to expand Altice’s footprint in North Carolina, where it has already made inroads through its acquisition of Suddenlink in 2015.
Morris Broadband currently serves around 36,500 customers (approximately 35% of broadband penetration rate) a division of Morris Communications that owns newspapers, radio stations, and billboards.
As of December 31, 2020, Morris Broadband passed approximately 89,000 homes throughout growing communities. The acquisition follows Altice’s deal to sell 49.9% stake of Lightpath to Morgan Stanley Infrastructure Partners for around $3.2 billion.
Bank of America owns healthcare payment company Axia Technologies
Last week Bank of America announced that it acquired the healthcare payment company, Axia Technologies for an undisclosed amount.
The deal is part of Bank of America’s plan to integrate merchant services into its proprietary payments platform for healthcare clients, following the dissolution of its merchant services joint venture last year.
This acquisition is a step towards rebuilding its merchant-acquiring business, targeting integrated payment solutions for doctors and allied providers, a segment the big bank is prioritizing.
Axia was founded in 2015 and enables healthcare providers to offer patients a multi-channel, end-to-end gateway and terminal software solution for payments. Head of enterprise payments at BofA, Mark Monaco called the health care sector the bank’s most critical “growth area.”
Following the acquisition, BofA has said merchant services clients will keep the same pricing and contract terms, and there should be no service interruptions.
In Other News
Other notable events from this week involve:
- St. Louis-based manufacturer and marketer of pet care and nutrition, Manna Pro Products, is expanding its pet care portfolio following its acquisition of ZuPreem, a brand of premium animal feeds for zoo animals and exotic pets, specializing in companion birds.
- ViacomCBS announced on Monday that it has agreed on a deal with WarnerMedia, a division of AT&T to acquire Chilean free-to-air television channel Chilevisión.
- Brand licensing and management company Xcel Brands, Inc. announced that it is acquiring the Lori Goldstein brands, including LOGO by Lori Goldstein.
- Sun-Maid Growers of California announced that it is acquiring Plum Organics, a premium, organic baby food and kids’ snacks brand from Campbell Soup Company.
- Bitcoin mining company Riot Blockchain, Inc. announced that it is acquiring Whinstone US, Inc. from Northern Data for approximately $651 million.
- According to Reuters, Exxon Mobil is exploring a sale of its Advanced Elastomer Systems (AES) division.
- According to The New York Times, image sharing and social media platform Pinterest is in talks to acquire Visual Supply Co., maker of the photo-editing app VSCO.
- Southeast Asia’s most valuable startup Grab Holdings is set to go public via a merger with Altimeter Growth Corp., a special purpose acquisition company (SPAC).