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, Blackstone invested a large sum in Spanx. Online travel agency Hopper expanded its B2B travel services by acquiring PlacePass. And Instacart bolstered its AI-powered shopping cart capabilities by buying Caper AI.
Blackstone gains a majority stake in Spanx
Blackstone, U.S.-based global investment firm has purchased a majority stake in Spanx for an undisclosed sum, valuing Spanx around $1.2 billion.
The company intends to use funds from the investment to expand Spanx’s online operations and DTC business. With the financial backing of Blackstone, Spanx can expand its product line and expand into global markets and compete with brands such as Jockey and Hanes.
Hopper purchased B2B travel company PlacePass
Online travel agency and travel technology company Hopper announced that it has acquired PlacePass, a leading provider of B2B tour and activity booking solutions.
Though the financial terms of the acquisition were not disclosed, PlacePass disclosed raising more than $14 million, according to data from Crunchbase. Founded in 2015, PlacePass develops technology to enable hotels, airlines, and vacation rental companies to monetize in-destination experiences.
The company aggregates and features more than 300,000 experiences in over 800 global destinations. This acquisition marks Hopper’s foray into the experience-booking business.
Instacart acquired Caper AI
Online grocery platform Instacart announced that it has acquired Caper AI for $350 million in cash and stock.
Founded in 2016, Caper AI is a software company that develops and deploys AI-powered shopping cart and checkout technology platforms. The startup’s AI-powered shopping carts allow shoppers to scan items directly off the grocery store shelves and pay for them via the cart.
This acquisition will expand Instacart’s retailer enablement platform, fulfillment technology and pickup capabilities. Instacart said that Caper AI will help retailers unify the in-store and online shopping experience for customers.
In Other News
Other significant deals have been completed or are underway:
- The German transportation company that offers intercity bus service in Europe, FlixMobility, is expanding its presence in the U.S. market after completing its acquisition of the iconic Greyhound Lines bus service.
- Walgreens Boots Alliance announced that it is making an additional $5.2 billion investment in VillageMD, increasing its stake in the company from 30% to 63%.
- IT solutions provider CDW Corporation announced that it is acquiring Sirius Computer Solutions, Inc. from Clayton, Dubilier & Rice for $2.5 billion.
- According to Bloomberg, Intel Corp’s acquisition talks with 6-year-old fabless semiconductor startup SiFive have ended.
- Former U.S. President Donald Trump announced that he is launching his own social media company called TRUTH Social, after social media giants Twitter and Facebook both barred him from their platforms.