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, Platinum Equity finalized its acquisition of the world’s largest provider of mobility, cloud, platform, and supply chain solutions. Cisco Systems further invested in its event capabilities and Perrigo sold off its Generic Rx Pharmaceuticals business.
Investment firm Platinum Equity acquired Ingram Micro
Platinum Equity has completed its acquisition of Ingram Micro Inc. for a total enterprise value of $7.2 billion.
Ingram Micro, founded in 1979, is the world’s largest provider of mobility, cloud, platform, and supply chain solutions. The company generated $49 billion in revenue for the last fiscal year.
The acquisition by Platinum Equity frees Ingram Micro from financially troubled Chinese conglomerate HNA Group.
Platinum Equity is a global investment firm that specializes in mergers, acquisitions, and operations. It has more than $25 billion in assets under management, and a portfolio of approximately 40 operating companies.
Cisco Systems purchased event platform Socio Labs
Cisco Systems, Inc. has announced that it completed its acquisition of Socio Labs, an event platform for in-person and online.
Cisco intends to integrate Socio Labs with its Cisco Webex portfolio. The acquisition follows Cisco’s purchase of Slido last December, which provides event audiences with polling, trivia, and Q&As.
Socio Labs’ virtual events products can process attendee registration, video streaming, and post-event analytics. Its in-person meeting platform generates customized event apps, provides content for conference hall screens, helps participants network, and checks attendees in and out of events.
Perrigo completes divestiture of Generic Rx business
Perrigo, a global provider of consumer self-care products and over-the-counter health and wellness products has completed the sale of its Generic Rx Pharmaceuticals business to Altaris Capital Partners for $1.55 billion.
Under the terms of the agreement, Altraris is also eligible to receive more than $50 million in potential R&D milestone payments and purchase obligations with third-party Rx partners. In November last year Perrigo acquired three OTC skincare and hair loss treatment brands from Sanofi.
In Other News
Other notable events this week include:
- J.D. Power announced that it has finalized its acquisition of Superior Integrated Solutions, a provider of automotive finance & insurance software used by automotive dealerships.
- French luxury group Kering Eyewear has acquired Danish eyeglass maker Lindberg for an undisclosed price.
- Philip Morris International Inc. has entered into an agreement to acquire Fertin Pharma in an $820 million deal which is expected to close in the fourth quarter of 2021.
- After missing out on buying the 3rd largest grocery chain Asda in the U.K. last year, private equity firm Apollo Global Management is considering a bid for the 4th largest U.K. grocery chain Wm Morrison Supermarkets.
- According to the Wall Street Journal, Reese Witherspoon’s media company Hello Sunshine is working with investment bankers to explore a sale.
- According to Reuters, Greek-yogurt maker Chobani confidentially filed documents with the SEC for an initial public offering.
- Reuters reported that fitness chain F45 Training Holdings Inc. is looking to file for an initial public offering, months after terminating its merger with blank-check company Crescent Acquisition Corp.
- Satellite imagery company Planet Labs announced that it will go public through a merger with special purpose acquisition company dMY Technology Group IV.