Deal Pipeline
Tuesday 19 January 2016
The following is a list of deals covered in detail by M and A Navigator this week:

-VERIFONE TO ACQUIRE CANADIAN RETAIL PAYMENTS SPECIALIST AJB SOFTWARE

US-based point of sale electronic payment solutions company Verifone (NYSE: PAY) has signed an agreement to acquire AJB Software Design, Inc., a Toronto-based provider of payment gateway and switching solutions for large merchants in the US and Canada, the company said.
Approximately 150 large retailers in the US and Canada rely on AJB's on-premise gateway and other solutions to connect nearly a half m payment devices.
Status: Agreed

-FORMULA SYSTEMS, IAI TO ACQUIRE NESS TECHNOLOGIES MILITARY ARM FOR USD 50M
Israeli IT company Formula Systems Ltd. (NASDAQ: FORTY) and Israel Aerospace Industries have entered into a definitive agreement for the purchase of TSG - a subsidiary and the military arm of Ness Technologies, engaged in the fields of command and control systems, intelligence, homeland security and cyber security, the companies said.
The total purchase price in the transaction will be USD 50m in cash (subject to certain adjustments), with each of IAI and Formula acquiring 50% of TSG for USD 25m (subject to certain adjustments).
Status: Agreed

-INTERNET GOLD SELLS AROUND 2% OF B COMMUNICATIONS FOR NIS 56M
Israeli telecommunications holding company Internet Gold - Golden Lines Ltd. (NASDAQ: IGLD) (TASE: IGLD) has sold 575,000 ordinary shares of its subsidiary, B Communications Ltd. (NASDAQ: BCOM) (TASE: BCOM), representing approximately 1.92% of the issued and outstanding shares of B Communications Ltd., the company said. The aggregate sale price is approximately NIS 56m (USD 14.17m).
As a result of the sale, Internet Gold holds approximately 65% of the outstanding shares of B Communications.
Status: Closed

-MD AMERICA ENERGY TO ACQUIRE EAST TEXAS OIL AND GAS ASSETS
US-based oil and gas operating company MD America Energy, LLC has entered into a purchase sale agreement with an undisclosed seller to acquire its operated properties in East Texas, which primarily target the Woodbine formation, the company said.
Closing is expected late February 2016. Terms of the deal were not disclosed. The company said it will fund the acquisition with cash provided by its parent, Meidu Energy Corp.
Status: Agreed

-SOMOTO TO ACQUIRE ISRAELI VIDEO ADVERTISING FIRM FOR UP TO NIS 14M
Israeli software distribution company Somoto (TASE: SMTO) is acquiring Israeli digital advertising network (ad-network) Terser Tude Ltd. (Terser), the company said.
The total consideration for the transaction, subject to various milestones, is up to NIS 14m in cash and shares (approximately USD 3.6 ), out of which the amount depends on the net profit of Terser in 2016, representing approximately 75% of the total consideration of the transaction. Terser Tude specialises in video advertising solutions and in particular video for mobile, which constitute 65% of its activity.
Status: Agreed

-BRYNWOOD PARTNERS VII TO ACQUIRE SUNNY DELIGHT BEVERAGES
US-based private equity firm Brynwood Partners VII L.P. has signed a definitive purchase agreement to acquire, Cincinnati, Ohio-based, Sunny Delight Beverages Co. for an undisclosed price from Winter Street Opportunities Fund, L.P., a vehicle managed by J.W. Childs Associates, the firm said.
The Sunny Delight brand was acquired by J.W. Childs Associates from The Procter and Gamble Co in 2004. This transaction is expected to close during 1Q16 and is subject to regulatory approval.
Status: Agreed

-VISTRA GROUP BUYS ZURICH CONSULTING FIRM
Hong Kong-based international incorporations, trust, fiduciary and fund administration services provider Vistra Group has acquired Zürich-based family office and consulting company globalOne, the company said.
Founded in 1999, globalOne specialises in providing a wide range of fiduciary and family office services for clients mainly based in Asia.
Status: Closed

-SABRE CLOSES USD 154M ACQUISITION OF HOSPITALITY TECHNOLOGY SPECIALIST THE TRUST GROUP
US-based travel technology company Sabre Corp. (NASDAQ: SABR) has closed its acquisition of the Trust Group of Companies, a central reservations, revenue management and hotel marketing provider with a significant presence in EMEA and Asia Pacific, Sabre said.
At closing, Sabre purchased the Trust Group from Battery Ventures, a global investment firm, for approximately USD 154m, using proceeds from recently issued notes and cash on hand. Sabre said the acquisition includes Trust International, InnLink and Nexus.
Status: Closed

-AUGEO ACQUIRES LOYALTY PLATFORM PERFORMANCE PLUS MARKETING
US-based Augeo, a specialist in engagement marketing, loyalty platforms, and employee incentive and recognition solutions, has completed the acquisition of US-based loyalty platform provider and engagement agency Performance Plus Marketing, the company said.
PPM develops, operates and manages B2B loyalty and incentive programmes, specialises in channel incentives, and develops/deploys large-scale promotions for new product launches, in particular in the pharmaceutical space.
Status: Closed

-CROSS COUNTRY PIPELINE SUPPLY ACQUIRES N2, STONE PUMP AND TRENCH AND PIPELINER'S WAREHOUSE
US-based midstream energy and infrastructure equipment and supplies company Cross Country Pipeline Supply Co., Inc. has acquired N2, Stone Pump and Trench and Pipeliner's Warehouse, the company said.
N2 is a Midland, Texas-based provider of nitrogen generation and other integrity testing services to pipeline contractors and operators in the United States. Stone Pump and Trench is a Knoxville, Tennessee-based provider of liquid handling, transfer pumps and trench safety equipment. Pipeliner's Warehouse is a Houston, Texas-based provider of consumable pipeline construction supplies to the US midstream market with a strong presence across the Gulf Coast. 
Status: Closed

-FEDERAL REALTY ACQUIRES SIX SHOPPING CENTRES FROM JV PARTNER
US-based REIT Federal Realty Investment Trust (NYSE: FRT) has acquired the 70% interest owned by affiliates of a discretionary fund advised by ING Clarion Partners in a joint venture that owns six neighborhood and community centres, the firm said.
Federal Realty purchased the 70% interest in the venture for approximately USD 154m, consisting of USD 130m of cash and assumption of the allocable share of mortgage debt. With this acquisition, Federal Realty has concluded the venture that was formed in 2004 and increased its ownership of the 820,000 square foot portfolio from 30% to 100%.
Status: Closed

-BLUEROCK RESIDENTIAL GROWTH REIT ACQUIRES TWO FLORIDA MULTIFAMILY PROPERTIES
US-based property investor Bluerock Residential Growth REIT, Inc. (NYSE MKT: BRG) has acquired two Southwest Florida apartment communities: the 320-unit Citation Club Apartments on Palmer Ranch in Sarasota, and the 368-unit Summer Wind Apartments in Naples, the company said. BRG acquired the properties through a joint venture for a total purchase price of USD 86.3m, or approximately USD 125,000 per unit. The acquisitions are projected to yield a pro forma stabilized cap rate of approximately 6.6%.
Status: Closed

-MEDIAOCEAN ACQUIRES AUSTRALIA'S BCC ADSYSTEMS
US-based advertising industry software platform provider Mediaocean has acquired Australian software company BCC AdSystems, the company said.
Mediaocean said that the acquisition will allow it to provide its international customer base with a global workflow, billing, and payments software solution that enables them to plan, buy, manage, and reconcile media anywhere in the world.
Status: Closed

-EAGLE CREEK ACQUIRES VERSO HYDROELECTRIC POWER UNIT
US-based Eagle Creek Renewable Energy, LLC has acquired Verso Androscoggin Power LLC from an affiliate of Verso Corp, the company said. The purchase price was USD 62m.
VAP owns and operates approximately 30mw of run of river hydroelectric generation on the Androscoggin River in Maine. The four facilities supply nearly 150m kwh of renewable energy in New England each year.
Status: Closed

-ROSELAND BUYS JV PARTNER INTEREST IN MASSACHUSETTS RESIDENTIAL BUILDING
US-based property company Mack-Cali Realty Corp.'s (NYSE: CLI) Roseland subsidiary has acquired a former joint venture partner's interest in The Chase at Overlook Ridge, a 371-unit luxury residential building located in Malden, Massachusetts, six miles outside Boston, the company said.
The Chase, completed in early 2014, is currently more than 96 % leased and is the most recent completion in Roseland's Overlook Ridge community. 
Status: Closed

-COLD JET ACQUIRES DRY ICE TECHNOLOGY FIRM
US-based dry ice cleaning and dry ice production solutions developer Cold Jet has completed the acquisition of Danish dry ice technology company IceTech, the company said. In 2015, both companies launched new and improved dry ice blasting product lines and strengthened their global reach by welcoming new partners and distributors.
With collective global facilities including in the United States, Canada, Mexico, Denmark, Germany, Poland, Belgium, Spain, Japan, China Cold Jet's global footprint will enable improved customer support capabilities anywhere in the world.
Status: Closed

-CRAIN'S PENSIONS AND INVESTMENTS ACQUIRES TWO INDUSTRY EVENTS
US-based media company Crain Communications' Pensions and Investments, a publication and global media source for institutional investors, has acquired the WorldPensionSummit and WorldPensionSummit Africa Special from Netherlands-based Global Platform BV, the publisher said.
The WorldPensionSummits are platforms for global retirement industry professionals, thought leaders, policy makers, academics, and global asset management firms to address pension and investment issues facing the world's developed and developing nations.
Status: Closed

-PACIFIC HOSPITALITY GROUP ACQUIRES KAUAI RESORT PROPERTY
US-based hotel operator Pacific Hospitality Group (PHG), through its Poipu Investment Properties affiliate, has acquired the Hawaii-based Ko'a Kea Hotel and Resort from CTF Ko'a Kea Hotel, LLC, the company said. Located on the Hawaiian island of Kauaiat Poipu Beach, the oceanfront property is the latest addition to PHG's luxury and lifestyle hotel portfolio known as the Meritage Collection.
Ko'a Kea Hotel and Resort features 121 guest rooms, including nine suites, a fitness center, luxury spa, outdoor pool, and 11,170 sq. ft. of flexible indoor and outdoor meeting space. 
Status: Closed

-NP RESOURCES ACQUIRES BAKKEN ASSETS IN NORTH DAKOTA'S WILLISTON BASIN
A venture between NPR Management Holdings, LLC of Denver, Colorado and Vortus Investments of Fort Worth, Texas have acquired certain assets from an undisclosed seller in Billings, Golden Valley, and McKenzie Counties, North Dakota, US-based NP Resources, LLC said.
NP Resources, LLC is a newly formed company organised and managed by the principals, founders and management of North Plains Energy, LLC entities along with its private equity partner, Vortus Investment Advisors, LLC.
Status: Closed

-RAYTHEON WEBSENSE BECOMES CYBERSECURITY FIRM FORCEPOINT
US-based cybersecurity leader Raytheon|Websense has launched its new company name, Forcepoint, and multiple new products.
Built on the integration of Websense, Raytheon Cyber Products and the recently-acquired Stonesoft next-generation firewall business, Forcepoint addresses evolving cybersecurity challenges and regulatory requirements facing businesses and government agencies. Forcepoint finalised the acquisition of the Stonesoft next-generation firewall and Sidewinder proxy firewall technologies and teams from Intel Security in January 2016.
Status: Closed

-KYOCERA COMMUNICATIONS ACQUIRES LABELLIO FROM ALPACADB
Japan-based systems integration company Kyocera Communication Systems has made an agreement with US-based technology developer AlpacaDB to acquire image classifer creator Labellio, the company said. Change in ownership will take place on 19 January 2016.
Labellio is a web service that let users create their own image classifier without any knowledge of image recognition. The only thing the user needs to do is to upload their images and label them. Labellio then creates the image classifier.
Status: Closed

-STRAYER EDUCATION BUYS NEW YORK CODE AND DESIGN ACADEMY
US-based education services company Strayer Education, Inc. (NASDAQ: STRA) acquired the New York City-based New York Code and Design Academy (NYCDA) on January 13, 2016, the company said.
NYCDA, a provider of non-degree web and mobile app development courses, will operate as a wholly owned subsidiary of Strayer Education, Inc., and will maintain its current headquarters and management team based in New York City.
Status: Closed

-AXWAY EXPANDS DIGITAL BUSINESS ENABLEMENT SOLUTIONS WITH APPCELERATOR
France-based integration provider Axway (PAR: AXW) (Euronext: AXW.PA) has made an all-cash acquisition of US-based mobile engagement platform Appcelerator Inc., the company said. With the acquisition of Appcelerator, Axway expands its suite of digital business enablement solutions.
The combination of Axway's digital enablement solutions and the Appcelerator Platform allows for the creation of mobile apps, easily integrate them to existing systems using APIs, manage backend services at scale, and optimize performance with comprehensive analytics.
Status: Closed

-COLORCON ACQUIRES PAULAUR'S PHARMACEUTICAL SUGAR SPHERES BUSINESS
US-based technical service laboratory Colorcon, Inc. has acquired the Pharmaceutical Sugar Spheres product line from US-based ingredients specialist Paulaur Corp., the company said
The addition of the Paulaur products complements Colorcon's Suglets Sugar Spheres product line and enhances Colorcon's position as a leading global supplier of sugar spheres for the development of multi-particulate dosages. The agreement is specific to Paulaur sugar spheres sold into the pharmaceutical and nutritional segments globally.
Status: Closed

-OMNOVOS ACQUIRES MOBILE PAYMENTS SOLUTION SPECIALIST MINICHECKOUT
Canada-based omni-channel customer engagement solutions provider omNovos has officially acquired Vancouver-based mobile payment solution specialist MiniCheckout, the company said. The purchase of MiniCheckout brings product development expertise to the omNovos team.
omNovos was formed in 2015 by data performance and optimization solutions parent company DataKinetics.
Status: Closed

-HUB INTERNATIONAL ACQUIRES RPG SOLUTIONS ASSETS
Global insurance brokerage Hub International Ltd. has acquired the assets of US-based employees benefits company RPG Solutions, Inc., the company said. Phil Gruber, CEO and Founder of RPG, will join Hub Southeast and report to Tim Love, president of Employee Benefits for HUB Southeast.
RPG president, Stacey Mangum, who leads RPG's unique integrated HR and benefits model, will continue to report to Gruber.
Status: Closed

-DIGITAL REASONING ACQUIRES HEALTH CARE TECHNOLOGY PROVIDER SHAREABLE
Nashville-based cognitive computing technology provider Digital Reasoning has acquired Nashville-based health care technology provider Shareable, the company said.
As part of the acquisition, Hal Andrews, the CEO of Shareable, will now serve as president of Digital Reasoning's health care business.
Status: Closed

-VIKING PARTNERS ACQUIRES OVERLAND PARK SHOPPING CENTRE IN USD 8.5M DEAL
Cincinnati, Ohio-based private equity real estate investment firm Viking Partners Fund III, LLC has acquired Overland Pointe Marketplace, a retail shopping center located in Overland Park, a suburb of Kansas City, the company said. The transaction, valued at USD 8.5m, represents the first acquisition for the Fund III portfolio in Kansas.
Overland Pointe Marketplace is an 80,047 square foot shopping center anchored by Babies R Us and Golf Galaxy.
Status: Closed

-MIDWIKIS AND GRANGER AFFILIATES JOIN WITH WAGNER, EUBANK AND NICHOLS
Austin-based public accounting firm Midwikis and Granger PC has joined Wagner, Eubank and Nichols, LLP, a certified public accounting firm based in Dallas, the companies said. The affiliation expands Midwikis and Granger's service offerings to include audit capabilities and marks Wagner, Eubank and Nichols' entrance into the Austin market.
Both firms primarily serve privately held companies, their owners, families and individuals in tax, financial accounting and consulting services, among others.
Status: Closed

-CONCHO RESOURCES BUYS DELAWARE BASIN ACRES FOR USD 360M
Texas-based independent oil and gas company Concho Resources Inc. (NYSE: CXO) has enhanced the company's position in the southern Delaware Basin with three separate transactions, the company said.
First, Concho agreed to acquire approximately 12,000 net acres complementary to its core North Harpoon prospect in Ward and Reeves Counties, Texas, from a private operator for total consideration of approximately USD 360m, through a combination of common stock, cash and drilling carry.
Status: Closed