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M&A Report: Novartis, Honey and Uber In the News

M&A Report: Novartis, Honey and Uber 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, Novartis acquires a big player in cardiovascular health, PayPal acquires coupon tool Honey and Uber acquires a geographical asset. 

The Medicines Company Acquired By Novartis AG

On January 6, Novartis AG announced that it has completed the acquisition of The Medicines Company, approximately 2 months after signing the definitive agreement

This acquisition was valued at approximately $9.7 billion at the time of the agreement on November 24, 2019. 

The deal will amplify Novartis’ cardiovascular commercial capabilities as Novartis will now have another tool in its arsenal to combat America’s leading cause of death and disability.

Honey Science Corporation Acquired By PayPal 

PayPal has completed the acquisition of Honey Science Corporation. 

The announcement was made on January 6 with a cash value of approximately $4 billion. 

Platforms such as Uber and Amazon have created the expectation of being able to obtain any item or service effortlessly through the palm of your hand. Honey has been able to fulfill this expectation in eCommerce by providing a platform where customers can obtain coupon codes instantly on their mobile device. 

With 17 million monthly active users, Honey can expect tremendous growth as the synergy between its application and PayPal’s merchant paying technology may influence customers into using both companies’ tools for most of their shopping needs.

Uber Moves Into the Middle East With Careem, Inc. 

Uber kicked off the new year by announcing the completion of a $3.1 billion acquisition of Careem Inc., a transportation network company based in Dubai. 

Careem operates in over 100 cities across 14 countries in the Middle East, Africa, and South Asia. Under the terms of the deal, Uber has acquired Careem’s mobility, delivery, and payments business. The regulatory approval process in Pakistan, Qatar, and Morocco is ongoing, and the transaction will not close in these territories until the legal authorities responsible issue approval. 

Careem will continue to operate independently as a wholly-owned subsidiary of Uber, allowing the company to preserve its brand and current leadership. 

In Other News

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

  • Schneps Media, the largest group of community media in the NY region, has announced its acquisition of METRO New York and METRO Philadelphia on January 6, 2020. 
  • Hostess Brands, owner of the famous Twinkie brand, has completed the acquisition of Voortman Cookies Ltd., the #1 brand for crème wafers and sugar-less cookies.  
  • Media Classified, a six-time award-winning print and digital publishing company, has acquired City Parent Magazine, a monthly parenting and lifestyle publication. 
  • Speedo USA is set to be reunited with Speedo International after the apparel conglomerate PVH agreed to sell its perpetual license to Pentland Group, the parent company that acquired Speedo in 1991. 
  • Procter & Gamble has announced its intention to acquire Billie, a subscription service for shaving and body care products for women. 
  • IAC plans to sell off a majority stake in CH Media, the parent organization of CollegeHumor, to Sam Reich — the Chief Creative Officer of CH Media. This deal was announced on January 8, 2020 and comes with over 100 layoffs, leaving less than 10 people in the company. 
  • Food delivery service GrubHub may soon be acquired by a major grocery store. Walmart seems especially keen on purchasing GrubHub as a way to enter the “dark kitchen” business — a budding market for kitchens that prepare and deliver food without a retail presence. 
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