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M&A Report: Exact Sciences, Roku and Anheuser-Busch In the News

M&A Report: Exact Sciences, Roku and Anheuser-Busch In the News

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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, noteworthy acquisitions span across diagnostic testing, craft breweries, and ad tech. 

Exact Sciences Expands Cancer Screening Capabilities

Exact Sciences Corp., a leading provider of cancer screening and diagnostic tests and owner of Cologuard, has completed the acquisition of Genomic Health, Inc. The acquisition is valued at $2.8 billion. 

Genomic Health is a leading provider of genomic-based diagnostic tests; the company has served over 1 million cancer patients using its Oncotype IQ Genomic Intelligence Platform and flagship line Oncotype DX. 

The combined company is expected to generate revenue of approximately $1.6 billion and gross profit of nearly $1.2 billion in 2020. With the combination of the two strongest and fastest growing brands in cancer diagnostics, Exact Sciences is well positioned to become a leading global cancer diagnostics company.

Roku Acquires Key DSP

Roku has completed the acquisition of Dataxu for an aggregate consideration of $150 million in cash and shares of Roku Class A Common Stock. 

Dataxu is a demand-side platform that enables marketers to plan and buy video ad campaigns through media planning tools, a proprietary device graph, and data analytics. 

Dataxu’s contributions are expected to accelerate Roku’s ad tech roadmap and ability to serve a wide array of advertisers. Roku SVP Scott Rosenberg said “Acquiring Dataxu is a natural progression of our ad tech strategy to offer more buy-side tools and to provide the industry’s best holistic TV plus OTT planning and buying solution that delivers better results for TV buyers.”

Anheuser-Busch Buys Out Its Craft Breweries 

Anheuser-Busch, owner of several craft breweries across the United States, announced that it is buying out the remaining unowned shares in Craft Brew Alliance (CBA). 

Already an owner of about a third of CBA, Anheuser-Busch proposed a deal on November 11, 2019 to purchase the rest of the shares for $220 million. 

This purchase will solidify Anheuser-Busch’s ownership of the Portland based company that makes brews like Widmer, Kona, and Redhook. Other brands include Appalachian Mountain Brewery, Wynwood Brewing, Cisco Brewers, Omission Brewing, and Portland’s Square Mile Cider Co. 

As the nation’s 12th largest brewer, CBA had a production output of over 719,000 barrels and $206.2 million in sales last year, with profits of approximately $4.1 million.

In Other News

These are some other notable deals and developments from the past week: 

  • Fashion rental subscription service, Le Tote Inc., has completed the acquisition of Lord & Taylor for an initial payment of $75 million in cash followed by and additional $32.2 million payable in cash after two years. 
  • Endeavor Business Media, LLC announced that it is buying more than 20 B2B media titles and event brands from Informa’s Industry & Infrastructure and Auto Aftermarket Media Brands, including FleetOwner, MachineDesign, and IndustryWeek. 
  • Carbonite, Inc., a Boston-based cybersecurity company, announced that it has reached an agreement to be acquired by Canadian enterprise software company OpenText Corporation. Financial terms indicate that this is a $1.42 billion deal.
  • Hyatt has decided to emerge as a bidder for Xenia’s Kimpton portfolio, which could be worth as much as $500 million.  
  • According to the latest filings, Olympus’ Q2 financial report indicated that the company’s image division has been suffering losses, with a 17% year-to-year decrease in revenue and continued operating losses. 
  • Disney’s on-demand video streaming service Disney+ officially launched this past Tuesday in the U.S., Canada and the Netherlands. The service has already garnered more than 10 million sign-ups despite having multiple technical issues that prevented users from connecting to the service. To put this into perspective, it took CBS more than 5 years to reach 8 million subscribers.