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, Nike makes a strategic investment in retail analytics, Maven closes on TheStreet and Salesforce expands its business offerings with the acquisition of ClickSoftware.
Nike Acquires Analytics Platform
After years of acquiring traditional apparel brands like Converse and Hurley, Nike is shifting its strategy. The athletic corporation has announced that it has acquired AI and cloud analytics platform Celect.
Celect is a Boston-based retail analytics and demand sensing company using big data solutions to help retailers optimize inventory and improve supply chain efficiencies. According to Nike’s COO, the addition of Celect’s technology allows Nike to bolster its direct-to-consumer strategy, by enabling better predictions of what apparel or shoe styles customers want — and when and where they want them.
Maven Coalition Acquires Another Web Property
Media network Maven Coalition announced that it has closed its acquisition of financial news and information website TheStreet for $16.5 million in cash.
TheStreet’s co-founder Jim Cramer and his team of financial experts will continue to stay with the brand via a new partnership. This deal marks the third acquisition for Maven since last year, when it acquired user-generated content website HubPages and advertising firm Say Media, as well as the rights to publish Sports Illustrated.
The media company expects the addition of TheStreet and publishing rights of Sports Illustrated will boost the company’s profit to $50 million over the next four quarters.
Salesforce Acquires Workforce Management Software
Just days after closing their largest acquisition of Tableau for $15.7 billion, the customer relationship management software provider announced that it is acquiring field service software company ClickSoftware for $1.35 billion.
ClickSoftware was founded in 1997, two years earlier than Salesforce.
The company has grown to become the largest workforce management solution company, with more than 15,400 customers worldwide. With this acquisition, Salesforce could strengthen its field service offering and keep its momentum in the Service Cloud business going.
In Other News
These are some other notable deals and developments from the past week:
- Nutritional supplements retailer, Vitamin Shoppe announced that it is being acquired by Virginia-based Liberty Tax Inc., the parent company of Liberty Tax Service and Buddy’s Home Furnishings, for an all cash deal valued at $208 million.
- Fox Corporation has entered into a definitive agreement to acquire a majority stake in the finance marketplace Credible Labs for an estimated $265 million. Credible’s software allows users to compare accurate pre-fixed rates from multiple financial institutions for a variety of loan types, from personal loans to mortgages.
- At an auction on July 31, 2019, 1-800-Flowers.com was the winning bidder to acquire Shari’s Berries, a leading provider of dipped berries and other specialty treats. Flowers hopes to leverage the capabilities of its business platform to help further grow and expand Shari’s operating efficiency.
- New Media Investment Group has officially announced it is buying Gannett, the owner of USA Today and dozens of other newspaper brands.
- New York retail titan Barneys announced in a press release on August 6th that it is officially filing for bankruptcy, closing 15 of their 22 stores from Chicago to Seattle.