MoviePass makes deal to acquire Moviefone

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MoviePass has acquired Moviefone in a deal between the two services’ parent companies, according to a press release. Moviefone got its start in the pre-internet days of 1989, providing information about movies and their showtimes via a toll-free phone number. The dial-in service was shuttered in 2014, but Moviefone has continued to provide showtime and ticket services via its mobile app and website.

Prior to its acquisition, Moviefone was owned by Oath Inc.

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Report: Netflix is ‘in advanced talks’ to acquire Luc Besson’s EuropaCorp studio

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Last year, French filmmaker Luc Besson released Valerian and the City of a Thousand Planets, a glitzy, CGI-filled summer blockbuster which ended up being a disappointment at the box office for his studio EuropaCorp. According to a report in the French site Capital (via The Playlist and io9), Netflix is “in advanced talks” to purchase the studio.

Besson co-founded the studio in 1999, and since then, it’s been known for films such as Lucy, Taken, Lock-Out, The Circle, and Valerian and the City of a Thousand Planets. The studio blamed the later and other weak performers for an $ 83 million loss at the end of 2017, and weeks later, Variety reported that there were several buyers interested in purchasing the company, which was struggling with…

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Foxconn to acquire Apple accessory maker Belkin for $866 million

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Mergers and acquisitions have decimated the once-thriving Apple accessory industry over the past several years, but the latest deal is more positive than most: Taiwanese manufacturing giant Foxconn announced today that it is purchasing U.S.-based Belkin, one of the biggest names in the accessory business. The $ 866 million all-cash deal will see Bel…Read More
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Report: Apple supplier Foxconn to acquire accessory maker Belkin for $866M

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A Hong-Kong based subsidiary, FIT Hon Teng, of Taiwan-based iPhone supplier Foxconn is looking to acquire Belkin, a well-known iPhone accessory maker.

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Broadcom ceases effort to acquire Qualcomm

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Qualcomm logo CES booth

Days after President Trump issued an order to block Broadcom from buying Qualcomm, the company has complied with that order.

Broadcom announced today that it’ll drop its effort to acquire Qualcomm. In addition, Broadcom will withdraw its independent director nominees that it had made for Qualcomm’s Annual Meeting of Stockholders.

Here’s Broadcom’s statement on today’s news:

“Although we are disappointed with this outcome, Broadcom will comply with the Order. Broadcom will continue to move forward with its redomiciliation process and will hold its Special Meeting of Stockholders as planned on March 23, 2018.

Broadcom’s Board of Directors and management team sincerely appreciate the significant support we received from the Qualcomm and Broadcom stockholders throughout this process.

Broadcom thanks the independent nominees who stood for election to the Qualcomm board, not only for their time and effort but also for their unwavering commitment to act in the best interests of Qualcomm stockholders.

Broadcom appreciates the following statement from U.S. Treasury Secretary and CFIUS chair Steven Mnuchin on March 12: ‘This decision is based on the facts and national security sensitivities related to this particular transaction only and is not intended to make any other statement about Broadcom or its employees, including its thousands of hard working and highly skilled U.S. employees.'” 

Broadcom made an offer to buy Qualcomm for $ 130 billion last year, but that offer was shot down by Qualcomm. Since then, we’ve heard rumblings about Broadcom working to make another serious acquisition attempt, but earlier this week, President Trump moved to block any such deal from happening, citing “credible evidence” that a Broadcom acquisition of Qualcomm could threaten the national security of the US.

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Intel reportedly exploring options to acquire Broadcom, which is trying to acquire Qualcomm

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According to a latest WSJ report, Intel is exploring options to acquire Broadcom if the company is successful in taking over Qualcomm. Broadcom is so hell-bent on acquiring Qualcomm since its first bid back in November 2017.  Though the initial offer was rejected by Qualcomm, Broadcom didn’t give up, it then proposed a deal to replace Qualcomm’s board which was again rejected by Qualcomm. Again in last month, Broadcom proposed to acquire Qualcomm at a higher price. At this point, combined Qualcomm and Broadcom would pose a serious threat to Intel. So it is waiting for the Broadcom and Qualcomm acquisition to fail, but if it succeeds, Intel plans to acquire Broadcom who also owns Qualcomm. Though Intal made it big as a chipset maker in the laptop and PCs space, data-center servers and more, it never made an impression in the smartphone SoC segment which it eventually gave up in 2016. However, Intel as an alternative is also planning on other smaller acquisitions in order to stay competitive. If at all Intel acquires Broadcom, it would give Intel a suite of smartphone chips, adding to its own communications chips. According to report, Intel is said to be considering such a move since late last year …
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Amazon will acquire Ring, maker of smart doorbells, for more than $1 billion

Ring Video Doorbell large

Amazon is wrapping up the month of February with a huge acquisition.

Amazon has agreed to acquire Ring for more than $ 1 billion. The companies confirmed the deal to Geekwire, expressing their excitement about working together and keeping consumers’ homes safe.

Here’s Ring’s statement on the deal:

“Ring is committed to our mission to reduce crime in neighborhoods by providing effective yet affordable home security tools to our neighbors that make a positive impact on our homes, our communities, and the world. We’ll be able to achieve even more by partnering with an inventive, customer-centric company like Amazon. We look forward to being a part of the Amazon team as we work toward our vision for safer neighborhoods.”

And Amazon’s statement:

“Ring’s home security products and services have delighted customers since day one. We’re excited to work with this talented team and help them in their mission to keep homes safe and secure.”

Ring sells security products for the home, including video doorbells and security cameras. This acquisition is notable because Amazon recently launched the Amazon Key, a security system that’s mean to ensure your packages get delivered safely inside your home. The Amazon Key includes a smart door lock and a cloud-connected security camera. This acquisition is also notable because $ 1 billion is a lot of money.

We’ll have to wait and see exactly what Amazon does with Ring and its team. The Ring video doorbell already works with Amazon’s Alexa assistant, but perhaps Amazon will use Ring’s devices to bolster its Amazon Key offering.

Have you ever used a Ring product?

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Acuity Brands acquire Lucid Design to gain share in smart home solutions market

Acuity Brands, an Atlanta based electronics manufacturing company announced its acquisition of Lucid Design Group, a provider of building analytics and business intelligence platform. Terms of the deal were not disclosed. Acuity looks forward to unlocking the value of the Internet of Things (IoT) capabilities in buildings by combining Lucid’s software platform with Acuity Brand’s networked sensors.

Based in Oakland, CA, Lucid provides a SaaS-based BuildingOS platform that enables users to gain insights into the operations of their buildings. Lucid has built integrations into over 180 different building data systems and services, including systems tracking utility data, building automation systems, work order systems, and property management solutions.

“We are excited by the opportunity to leverage Acuity Brands’ broad IoT and control capabilities to deliver a complete solution to our customers,”Will Coleman, CEO, Lucid Design Group, Inc.

Acuity Brands, a leading provider of lighting and building management solutions hit $ 3.5 billion in sales in 2017. While the acquisition is not expected to have a material impact on the financial bottom line of the company this year, it will fuel growth for Acuity in years to come.

“Lucid’s technology will allow us to extend the power of our digital networked lighting, building management and IoT solutions,” Laurent J. Vernerey, President of the Acuity Technology Group and Executive Vice President of Acuity Brands, Inc.

Over the past few years, Acuity Brands is transforming from a traditional lighting manufacturer into a state-of-the-art software solution provider within the IoT domain. In July 2016, Acuity made a similar acquisition of 100 percent equity stake in San Francisco-based DGLogik Inc., a provider of innovative software solutions for efficient energy usage and facility performance to enhance its portfolio of holistic IoT solutions.


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Qualcomm raises its bid to acquire NXP

Qualcomm today announced that it has reached an agreement with NXP Semiconductors NV to raise its bid to $ 127.50 per share from $ 110 and has lowered minimum tender threshold to 70% of outstanding shares instead of the 80% it required under the earlier terms. Qualcomm said that it has reached a binding agreement with nine NXP Stockholders who currently collectively own more than 28% of outstanding shares which excludes additional economic interests through derivatives. The latest offer values NXP at $ 44 billion. The revised price reflects NXP’s recent performance which includes the 2017 results which exceeded Qualcomm’s transaction model on revenue, gross margin and EBIT and GAAP operating income also increased 20% from calendar 2016 to 2017. The NXP auto business has increased revenues by 11% YoY on the other hand,  Qualcomm has also significantly improved its own capabilities in key industry segments such as Auto, IoT, and Networking. NXP’s shares were up 6.5% at $ 126.15 in premarket trading. The acquisition will help Qualcomm in the fast-growing auto-mobiles chipset market. NXP has time till March 5th, 2018 and Qualcomm intend to fund the additional consideration with cash on hand and new debt. Qualcomm’s acquisition of NXP has received antitrust clearance from eight of the nine required government regulatory bodies around the world …
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Walmart said to be in talks to acquire more than 40% of Flipkart

Back in 2016 US retail giant, Walmart was in talks to invest up to whopping $ 1 billion Flipkart. Nothing ever happened on that, however, now according to new report from Reuters, Walmart is said to be in talks to acquire more than 40% of Flipkart.  Walmart is said to be in talks to buy existing and new shares of Flipkart and due diligence is likely to begin as early as next week, the sources said. The terms and proposals are under wraps at the moment. Flipkart would be valued at more than the $ 12 billion figure given that Japan’s SoftBank Group Corp’s Vision Fund took roughly a fifth of the firm last year for $ 2.5 billion. Neither Flipkart nor Walmart commented on the ongoing speculation just as expected. However, With Walmart acquisition, Flipkart would get a good boost in its fight against Amazon which is said to expand in India with an investment close to $ 5 billion that would also include online grocery delivery. Despite so many attempts to enter India, Walmart restricted itself to cash-and-carry’ wholesale business amid tough restrictions on foreign investment. The company currently operates 21 such stores in India. Flipkart’s current investors include U.S. hedge fund Tiger Global Management, China’s Tencent Holdings Ltd, online marketplace …
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