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, PPG Industries gained VersaFlex, Cisco bought IMImobile, and Pocket Outdoor Media was renamed to Outside.
PPG Industries Buys VersaFlex
PPG Industries has completed its acquisition of VersaFlex, a manufacturer specializing in polyurea epoxy, polyurethanes, custom plural component equipment, and geotechnical and insulation foams.
VersaFlex brought in roughly $70 million in revenue last year. The company has a staff of approximately 130 employees and operates three manufacturing sites in Kansas, Oklahoma, and Washington state.
PPG announced its deal to acquire the company from DalFort Capital Partners at the beginning of the year; financial terms of the deal have not been publicized.
Cisco Makes Another Purchase To Boost Customer Interaction—IMImobile
Cisco has acquired cloud communications software and services provider IMImobile for approximately $730 million in cash.
IMImobile offers software and services which allow enterprises and organizations to stay constantly connected to their customers through enhanced interactive channels. The IMImobile team will be integrated as part of Cisco’s Contact Center business unit.
The deal enables Cisco to offer customer-facing businesses an end-to-end customer interaction management solution and rich customer experiences. This deal comes on the heels of Cisco’s acquisition of another audience interaction company, Slido.
Cisco plans to use both additions to boost customer interaction on its Webex video conferencing platform.
Pocket Outdoor Media Gets a New Name
In a press release, Pocket Outdoor Media announced it is acquiring several companies, including Outside Integrated Media, the umbrella company for Outside Magazine, Outside Studios, and the travel business Outside Go.
It also announced that Pocket Outdoor Media has changed its name to Outside. In the same release, the company announced it is acquiring Outside TV as well as Peloton magazine, the mobile navigation and mapping app Gala GPS, and event registration platform, athleteReg.
CEO of the new Outside, Robin Thurston said “Adding these businesses to our platform and rebranding Pocket is a transformative moment for us.” Buying the Outside brand is one of five recent sports and fitness acquisitions made by Pocket Media. Terms of the deal were not disclosed.
In Other News
What else is happening?
- Nestle has struck a deal to acquire SimplyCook, a subscription-based recipe box service based in London.
- Universal Music Group is separating from Vivendi S.A. With artists such as The Rolling Stones, Kanye West, Lady Gaga, and Billie Elish, UGM is Vivendi’s most valuable asset and one of the “Big Three”, the world’s largest record labels along with Warner Music Group and Sony Music.
- AT&T announced that it has entered into an agreement with TPG Capital to spin off its DirecTV, AT&T TV, and U-Verse business in a $8 billion cash deal.
- Enterprise information technology company Hewlett Packard Enterprise announced that it is acquiring AI-based hybrid cloud assessment tool company CloudPhysics.
- HP Inc. announced that it has agreed to acquire HyperX, the gaming division of Kingston Technology Company, for $425 million.
- Real-estate brokerage Redfin Corp. announced that it has agreed to acquire apartment search site operator RentPath Holdings Inc. out of bankruptcy for $608 million.
- Goodyear Tire & Rubber Co. announced that it is buying rival and fellow Ohio tire company Cooper Tire & Rubber Co. for approximately $2.5 billion.
- According to the Wall Street Journal, autonomous trucking company TuSimple Inc. has confidentially filed paperwork to go public and plans to debut as early as next month.