Deal Pipeline
Tuesday 31 January 2017
The following is a list of deals covered in detail by M and A Navigator this week:

-VALIDUS TO ACQUIRE ARCHER DANIELS MIDLAND'S CROP RISK SERVICES BUSINESS FOR USD 127.5M IN CASH

Bermuda-based reinsurer Validus Holdings, Ltd. (NYSE: VR) has reached an agreement with US-based agricultural processor Archer Daniels Midland Company (NYSE: ADM) for the purchase of ADM's Crop Risk Services business, the company said.
The transaction includes a marketing services agreement under which ADM and Validus will work together to continue to offer a full range of insurance and farm products and services to CRS customers. CRS is a primary crop insurance general agent based in Decatur, Illinois with USD 548.9m gross premiums written for the 2016 reinsurance year and 1,170 agents across 36 states.
Status: Agreed



-AEP SELLS FOUR COMPETITIVE POWER PLANTS TO BLACKSTONE, ARCLIGHT JV FOR USD 2.1BN

US-based utility operator American Electric Power (NYSE: AEP) has completed the sale of four competitive power plants to Lightstone Generation LLC, a joint venture of investment firm Blackstone (NYSE: BX) and an affiliate of ArcLight Capital Partners LLC, for approximately USD 2.1bn, the company said.
AEP announced 4 September 2016, that it had reached an agreement to sell the plants to Lightstone Generation. The sale includes 5,200mw of generation all located in the region served by the PJM Interconnection, including Lawrenceburg Generating Station, 1,186mwnatural gas, Lawrenceburg, Indiana; Waterford Energy Center, 840mw natural gas, Waterford, Ohio; Darby Generating Station, 507mw natural gas, Mount Sterling, Ohio; and Gen. James M. Gavin Plant, 2,665mw coal, Cheshire, Ohio.
Status: Closed



-FRED'S PHARMACY SAYS WALGREENS, RITE AID DEAL ON TRACK

An asset purchase agreement entered into last December in which US-based retailer Fred's Inc. (NASDAQ:FRED) will acquire 865 Rite Aid stores for USD 950m is still on track despite a delay in the closing of the merger between Walgreens Boots Alliance, Inc. (NASDAQ:WBA) and Rite Aid Corporation (NYSE:RAD), Fred's said.

Last week, US-based drugstore chains Walgreens Boots Alliance and Rite Aid agreed to extend the end date under the previously announced agreement from 27 January 2017 to 31 July 2017 in order to allow the parties additional time to obtain regulatory approval. Closing of the Fred's transaction is expected to take several months after Walgreens Boots Alliance's proposed acquisition of Rite Aid is completed and is subject to approval by the Federal Trade Commission as well as customary regulatory approvals and closing conditions.

Status: Agreed



-EZOIC ACQUIRES AD TESTING TECHNOLOGY PROVIDER AMPEDSENSE

US-based Google partner Ezoic has acquired digital ad testing technology firm AmpedSense, the company said. According to Ezoic, AmpedSense has been the most popular digital ad testing WordPress plugin in the WordPress plugin ecosystem for over two years.
The technology provides users the ability to easily A/B test ad positions and configurations on their website. AmpedSense was founded in 2013 and has grown to operate on thousands of websites across the net.
Status: Closed



-DOS RIOS PARTNERS ACQUIRES ALASKA'S PATHFINDER AVIATION

US-based private equity firm Dos Rios Partners has acquired Alaska, US-based aviation operator Pathfinder Aviation, the firm said. Dos Rios partnered with Chuck Constant and Pete Henrikson of Phoenix Aviation Group of Dallas, TX and acquired Pathfinder from its founder and previous owner, Michael Fell.
Chuck and Pete will lead the company as CEO and EVP of Operations, respectively. Pathfinder was founded in 2000 by Mike Fell to provide aviation services to the Alaskan market and beyond. It has a history of operating fixed-wing aircraft and helicopters in Alaska and other locations around the world, serving customers year-round in the North Slope and Cook Inlet. 
Status: Closed



-PETROCHOICE ACQUIRES INDIANAPOLIS BLENDER, DISTRIBUTOR MILLER INDUSTRIAL FLUIDS

US-based lubrication products and services company PetroChoice has acquired US-based metalworking products, specialty lubricants, and rust preventatives distributor and blender Miller Industrial Fluids, LLC the company said.
Through this acquisition, PetroChoice will gain immediate presence in the Indianapolis market, providing a bridge between its current Ohio and Illinois locations. With the acquisition of Miller, PetroChoice now has 51 locations servicing 32 states.
Status: Closed



-FEDERATED INVESTORS ACQUIRES USD 435M OF ASSETS FROM HORIZON ADVISERS

US-based investment manager Federated Investors, Inc. (NYSE: FII) has completed the acquisition of certain investment management related assets of Whitney Bank's Horizon Advisers division, the company said.
Federated and Horizon Advisers completed the reorganisations of three Hancock Horizon funds managed by Horizon Advisers into comparable Federated mutual funds managed by Federated's advisory subsidiaries. In connection with the reorganisations, approximately USD 435m in assets of one fixed-income and two equity Hancock Horizon funds transitioned to Federated funds with comparable investment objectives and strategies.
Status: Closed



-EGDON RESOURCES CLOSES ACQUISITION OF ADDITIONAL INTERESTS IN EAST MIDLANDS PLAY

UK-based exploration and production company Egdon Resources plc (AIM: EDR) is has completed the acquisition of an additional interest in PEDL201 in the company's East Midlands core area, the company said.
Egdon has acquired an additional 12.5% interest in PEDL201 in the Widmerpool Gulf from Corfe Energy Ltd. for a consideration of 424,593 ordinary shares in the company. The value of the consideration shares is equivalent to GBP 50,000 (USD 62,981) based on the average closing mid-price for the five days prior to the day of completion. Accordingly Egdon has issued 424,593 ordinary shares to Corfe Energy Ltd.
Status: Closed

-CHALLENGER ACQUISITION CLOSES SALE OF FERRIS WHEEL SPECIALIST STARNETH
UK-based blank check company Challenger Acquisitions Ltd. (LSE: CHAL)  has disposed of its entire interest in engineering and manufacturing firm Starneth Europe B.V. and Starneth Holding B.V., the company said.
Challenger said that the sale of Starneth provides for contingent consideration, an on-going cooperation agreement for Challenger to provide potential funding options for the developers of select Giant Observation Wheel projects and the extinguishing of all cash obligations owing by Challenger to the former owners of Starneth and to any companies controlled by these former owners.
Status: Closed

-SECURE PROPERTY DEVELOPMENT CLOSES SALE OF UKRAINIAN WAREHOUSE
Russian investment company Secure Property Development and Investment plc (LSE: SPDI) has closed the sale of the Terminal Brovary logistics park in Kiev to Temania Enterprises Ltd., SPDI said.
As announced on 20 October 2016, SPDI agreed the sale of Terminal Brovary for a gross cash consideration of USD 16m (before the deduction of the outstanding EBRD loan). This compares favourably to the USD 13.4m gross value assigned to the Terminal as at 31 December 2015.
Status: Closed

-HG CAPITAL SELLS UK VEHICLE LEASING BUSINESS ZENITH TO BRIDGEPOINT FOR GBP 750M
UK-based investment manager HgCapital has agreed the sale of UK-based vehicle leasing business Zenith to Bridgepoint in a transaction totalling GBP 750m (USD 944.72m), the company said. HgCapital is the manager of HgCapital Trust plc (LON: HGT).
The sale of Zenith delivers a 2.9x investment multiple and a 46% gross IRR over the investment period. Headquartered in Leeds, with full-service operations in both Solihull and Wokingham, Zenith has over 500 employees and provides end-to-end automotive solutions focused on contract hire, salary sacrifice, fleet management and short-term hire services to customers across the UK.
Status: Closed

-INGENICO GROUP ACQUIRES INDIAN ONLINE, MOBILE PAYMENTS FIRM TECHPROCESS
French electronic payments company Ingenico Group (Euronext: FR0000125346 - ING) has reached an agreement in principle to acquire 100% of Indian electronic payments services provider TechProcess Payment Services Ltd, the company said.
Created in 2000, TechProcess is an online and mobile payment services provider headquartered in Mumbai with approximately 600 employees across 40 locations in India. The company has developed offerings in several markets where it built positions, especially in online payments gateway, NACH (National Automated Clearing House), bill payments, and mobile payments. These services rely on a network of connections with Indian banks for acquiring and net-banking integration.
Status: Closed

-BARAK INVESTORS GROUP, MIP INVESTMENT ARRANGE ACQUISITION OF CALIFORNIA OFFICE
US-based Barak Investors Group and MIP Investment have arranged the USD 16.75m acquisition of a government / fully leased two-story office building in Torrance CA/South Bay, the firm said. The property located at 20221 Hamilton in Torrance is a 100% leased asset by the County of Los Angeles, Child Support District Division.
In this transaction, Barak Investors Group and MIP Investment represented the buyer, Parkview Management Group, a local investor from LA. The buyer was represented by JLL as their exclusive adviser. Originally constructed in 1982, the 2-story property was renovated in 2002 and also recently in 2016. The Property boasts a competitive parking ratio of 3.5 per 1,000 square feet and enjoys close proximity to multiple freeways including I-110, I-405, and the 91 freeway.
Status: Closed

-BLACKSTONE AUDIO ACQUIRES CALIFORNIA AUDIOBOOK RETAILER AUDIO EDITIONS
US-based audiobook company Blackstone Audio has acquired California, US-based direct-to-consumer audiobook retailer Audio Editions, the company said. While Audio Editions will remain fully operational, retaining its current staff, Blackstone said it if focused preserving and growing the brand, giving it a boost with the aid of Blackstone's resources.
Blackstone plans to update Audio Editions' website and offer digital downloads to patrons. For 32 years, Audio Editions has been a direct-to-consumer audiobook retailer, beginning with a full-service mail-order catalog, and continuing with both catalog and website.
Status: Closed

-PLAYCORE ACQUIRES INDOOR PLAY ENVIRONMENTS PRODUCER WORLDS OF WOW
US-based play and recreation products company PlayCore Holdings, Inc. has acquired indoor, themed play environments producer Worlds of Wow, the company said. Worlds of Wow has a background in the playground and theme park industries. The firm specialises in bringing custom play experiences to the indoor environment.
Their work can be found in churches, malls, family entertainment centers, offices, and recreation centers around the country.
Status: Closed

-HENNESSY CAPITAL ACQUISITION CORP II SCHEUDLES 27 FEBRUARY SHAREHOLDER VOTE ON DASEKE DEAL
Texas-based blank check company Hennessy Capital Acquisition Corp. II (NASDAQ: HCAC) (NASDAQ: HCACU) (NASDAQ: HCACW) has scheduled a special meeting of HCAC stockholders for 27 February 2017 for a vote to approve HCAC's proposed merger with Texas-based trucking firm Daseke, Inc., the company said.
Under the deal, HCAC will acquire all of the outstanding capital stock of Daseke in an all-stock merger transaction. The proposed transaction will introduce Daseke as a publicly traded company, with an anticipated initial enterprise value of approximately USD 702m. Daseke consolidates open deck freight market in North America. Its family of companies own open deck equipment and open deck transportation and logistics solutions in North America.
Status: Agreed

-SPHERE 3D CLOSES ACQUISITIONS OF CLOUD SERVICES FIRM HVE AND UNIFIED CONNEXIONS
US-based containerisation, virtualisation, and data management solutions provider Sphere 3D Corp. (NASDAQ: ANY) has completed its acquisitions of HVE ConneXions, LLC, and Unified ConneXions, Inc. under a definitive agreement announced on 19 January 2017, the company said. UCX provides hybrid cloud technology through a focus on converged and hyperconverged infrastructure, along with expert, professional IT services to corporate, government, and educational institutions.
The firm is based in the metropolitan area of Dallas, Texas, and maintains three facilities including a 20,000 square foot integration center in Plano, Texas, a corporate headquarters in Dallas, which includes a network operation centre and a data centre, and a sales / services office located in Waxahachie, Texas.
Status: Closed

-HB FULLER ACQUIRES PACKAGING ADHESIVES FIRM WISDOM WORLDWIDE FOR USD 122M
US-based adhesives company H.B. Fuller Company (NYSE: FUL) has purchased the industrial adhesives business of US-based adhesives firm Wisdom Worldwide Adhesives, the company said. Wisdom Worldwide Adhesives is a provider of adhesives for the packaging, paper converting, and assembly markets.
Founded in 1875, Wisdom has been privately owned and operated by five consecutive generations of the Wisdom family and is headquartered in Elgin, Illinois. The company generated revenue and EBITDA of approximately USD 100m and USD 11m, respectively, in fiscal 2016.
Status: Closed

-MUELLER WATER PRODUCTS TO ACQUIRE CANADA'S SINGER VALVE FOR CDN 34M
US-based fire hydrants, fittings and valves manufacturer Mueller Water Products, Inc. (NYSE: MWA) has signed a definitive agreement to acquire Canadian automatic control valves manufacturer Singer Valve for CDN 34m (USD 25.97m) in cash, the company said.
Singer Valve designs and manufactures automatic control valves, offering engineered products for pressure management within water works. It also manufactures similar valves used in industrial, commercial and fire protection applications. The company was founded in 1957 and is headquartered in Surrey, British Columbia, with manufacturing operations in Surrey; Charlotte, North Carolina; and Taicang, China. Singer had net sales of approximately CDN 20m in 2016.
Status: Agreed

-BROADWIND ENERGY TO ACQUIRE INDUSTRIAL SYSTEMS FABRICATOR RED WOLF CO
US-based gears and gearing systems provider Broadwind Energy, Inc. (NASDAQ: BWEN) has reached agreement to acquire industrial systems fabricator Red Wolf Co, LLC, the company said. Broadwind will pay USD 16.5m in cash at closing. The sellers may become entitled to contingent consideration of up to USD 9.9m, payable in cash and, at the election of the company, up to 50% in the form of shares of the Broadwind common stock.  
Red Wolf is fabricator, kitter and assembler of industrial systems primarily supporting the global gas turbine market.
Status: Agreed

-GREEN DOT TO ACQUIRE PREPAID CARD, CORPORATE PAYROLL CARDS FIRM UNIRUSH FOR USD 147M
US-based prepaid card provider Green Dot Corp. (NYSE: GDOT) has entered into an agreement to acquire US-based payment card provider UniRush, LLC, the company said. UniRush owns RushCard, an online direct-to-consumer general purpose reloadable prepaid card provider, and Rapid! PayCard, a corporate payroll card provider.
The acquisition materially expands Green Dot's scale with the addition of the RushCard and Rapid! PayCard installed customer bases, while establishing Green Dot as a formidable player in the growing corporate payroll card and wage disbursement market.
Status: Agreed

-SOLERA CLOSES ACQUISITION OF AUTOMOTIVE TECHNICAL INFORMATION PROVIDER AUTODATA
US-based automotive, home ownership and digital identity management software company Solera Holdings, Inc has closed the acquisition of UK-based automotive technical information provider Autodata, the company said.
Founded in 1975, Autodata has evolved from publishing iconic do-it-yourself manuals for car enthusiasts and garages, to delivering fully digital cloud-based diagnostics and repair intelligence for professional mechanics. Powered by data from 136 vehicle manufacturers covering over 40,000 models worldwide, Autodata's solutions are deployed by over 90,000 repair shops in over 40 countries for best-in-class coverage, accuracy, reliability, and efficiency.
Status: Closed

-QTS ACQUIRES MEGA DATA CENTRE CAMPUS IN DALLAS IN USD 50M DEAL
US-based data centre, managed hosting and cloud services company QTS Realty Trust (NYSE: QTS) has completed the purchase of a 260,000 square foot data center in Fort Worth, Texas from Health Care Service Corp., the company said.
The facility becomes QTS' second mega data centre in the broader Dallas-Fort Worth-Irving market and strengthens its ability to serve Fortune 1000 enterprises as well as regional financial services, healthcare and technology companies.
Status: Closed

-THE WICKS GROUP ACQUIRES RETAIL DATA FIRM GLADSON
New York-based private investment firm The Wicks Group of Companies has completed the acquisition of digital content and retail omni-channel optimisation solutions firm Gladson Holdings, LLC, the firm said.
Founded in 1971 and headquartered in Lisle, IL, Gladson is a provider of digital content and retail omni-channel optimisation solutions for the consumer-packaged goods and fast-moving consumer goods industries. Gladson delivers product data to support omni-channel initiatives that improve shopper engagement and that maximise efficiency within retail, online and logistics operations.
Status: Closed

-HARBOUR ENERGY TO LEAD CHRYSAOR'S USD 3BN ACQUISITION OF SHELL UK NORTH SEA ASSETS
US-based energy investor EIG Global Energy Partners' Harbour Energy, Ltd energy investment vehicle has agreed to lead the acquisition by UK-based oil and gas company Chrysaor Holdings Ltd. of a portfolio of oil and natural gas assets from Shell UK Ltd. and its affiliates for USD 3bn, the firm said.
This deal creates the UK's leading independent oil and gas company focused on the North Sea. Collectively, the assets produced 115,000 barrels of oil equivalent per day in 2016, and we expect them to comprise approximately 350m barrels of oil equivalent proven and probable reserves as at the transaction effective date of 1 July 2016.
Status: Agreed

-MAKE MYTRIP, IBIBO CLOSE DEAL TO CONSOLIDATE INDIAN TRAVEL BUSINESSES
India-based travel groups MakeMyTrip Ltd. (NASDAQ: MMYT) and ibibo Group have closed a deal announced last October to combine the businesses under MMYT, the companies said. ibibo Group is owned by South Africa-based global technology group Naspers Ltd. (JSE: NPN.SJ) (LSE: NPSN).
MakeMyTrip services and products include air tickets, customised holiday packages, hotel bookings, railway tickets, bus tickets, car hire and facilitating access to travel insurance. The ibibo Group operates integrated travel properties to organise the transportation and accommodation industry and connect it with travellers.
Status: Closed

-FINANCIAL GRAVITY APPROVED FOR NEW STOCK SYMBOL FOLLOWING MERGER
The Financial Industry Regulatory Authority, Inc. (FINRA) has approved the name change and symbol change for the public company formally known as Pacific Oil Co trading as POIL to Financial Gravity Companies, Inc. trading as FGCO.
Last October, US-based tax, business, and financial solutions provider Financial Gravity Holdings, Inc completed its merger with Pacific Oil Company (OTC: POIL). The combined company was trading on the OTC Markets under the symbol "POIL". Financial Gravity provides wealth management, tax planning and other services to high net-worth individuals and businesses nationwide.
Status: Closed

-CRYSTAL FINANCIAL BACKS SOFTWARE FIRM MODEL N'S ACQUISITION OF REVITAS
US-based commercial finance company Crystal Financial LLC invested in a USD 50m term loan facility for US-based software company Model N, Inc. (NYSE: MODN), the company said. Based in Redwood City, California, and founded in 1999, Model N is a provider of cloud-based revenue management solutions to life sciences, technology and manufacturing companies.
Proceeds from the transaction were used to complete the acquisition of Revitas, Inc., also a provider of life sciences revenue management software, which closed 5 January 2017. Crystal Financial, a portfolio company of Solar Capital Ltd. is an independent commercial finance company that provides senior and junior secured loans for both asset-based and cash flow financings (minimum of USD 10m in fundings) to middle-market companies.
Status: Closed

-EVERBRIDGE ACQUIRES THREAT ASSESSMENT, VISUALISATION SOFTWARE SPECIALIST IDV SOLUTIONS
US-based communications and enterprise safety applications company Everbridge, Inc. (NASDAQ: EVBG) has acquired US-based threat assessment and operational visualisation software firm IDV Solutions, LLC, the company said. The aggregate consideration paid by Everbridge was approximately USD 18.7m in cash, with additional time and performance-based cash payments that could total as much an additional USD 8.7m.
IDV's Visual Command Center application displays an integrated picture of external threats and events overlaid with an organisation's people, assets and supply routes, along with other contextual information to enable timely assessment and operational response.
Status: Closed

-NYSE APPROVES LISTING OF STEEL PARTNERS PREFERRED UNITS IN CONNECTION WITH STEEL EXCEL ACQUISITION
The New York Stock Exchange has approved for listing New York City-based diversified holding company Steel Partners Holdings L.P.'s (NYSE: SPLP) 6.0% series A preferred units to be issued in connection with its exchange offer to acquire the 36% of White Plains, New York-based energy and sports business company Steel Excel Inc. (OTCPK: SXCL) that it does not own, subject to the satisfaction of the NYSE's applicable distribution standards, Steel Partners said.
Last December, Steel Partners agreed to acquire the remaining shares it does not own of Steel Excel. Steel Partners currently owns approximately 64% of Steel Excel's outstanding shares. Under the agreement, Steel Partners, through a wholly owned subsidiary, will commence an exchange offer to acquire all of the outstanding shares of Steel Excel's common stock (not owned by Steel Partners or any of its affiliated entities) for USD 17.80 per share in preferred units of Steel Partners.
Status: Agreed

-CANADA'S VERSABANK CLOSES MERGER WITH LARGEST SHAREHOLDER, PWC CAPITAL
Canadian financial services firm VersaBank (TSX: VB) and PWC Capital Inc. (TSX: PWC) have closed an agreement to merge by means of an amalgamation, the firms said. This deal was announced last September. PWC Capital previously held approximately 62.8% of VB's issued common shares.
After the amalgamation the combined entity will continue to be named VersaBank. Concurrently with the amalgamation, PWC will undertake a series of transactions, such that immediately prior to the amalgamation its issued and outstanding share capital were converted into common shares of PWC, which will then be exchanged for VB common shares.
Status: Closed

-MINDSTREAM MEDIA ACQUIRES US DIGITAL AGENCY EDGECORE
US-based advertising and media holding company Eastport Holdings' Mindstream Media agency has merged with US-based digital agency EdgeCore, the company said. EdgeCore adds to Mindstream digital marketing programmes for Verizon Wireless, Samsung Telecommunications and others through offices in Orlando, Fla. and Cedar Falls, Iowa.
Mindstream Media's existing offices are located in St. Louis, Milwaukee, Peoria and San Diego. Services include strategy and digital media planning and buying across a variety of channels including search marketing, display, social, premium directories and lead generation networks, as well as traditional media through direct marketing and Yellow Pages.
Status: Closed

-US CONSTRUCTION CONSULTANTS BENESCH AND NV5 MERGE TO FORM NC3
Ohio, US-based construction consulting services firms Benesch and NV5 (NASDAQ: NVEE) have merged to form North Coast Capital Consultants, the firms said. The resulting company combines the legal experience of Cleveland-based Benesch with the technical engineering and consulting depth of NV5.
NC3 will offer customised construction consulting solutions to help project owners navigate risk throughout the construction process.
Status: Closed

-CASTELLUM ACQUIRES TORSPLAN 2 PROPERTY IN STOCKHOLM
Swedish property company Castellum AB (STO: CAST) is taking possession of the property Torsplan 2 in Stockholm, the company said. This newly constructed building is BREEAM environmentally certified and will constitute part of the life-science center under creation in Hagastaden.
Torsplan 2 comprises a total of 23,000 sq.m. of versatile and adaptable floor-space, of which 18,800 sq.m. are designated office areas, where the primary tenant is Stockholm County Health Care Services. The main Floor features retail stores, restaurants and gym-training possibilities.
Status: Closed

-TECH ELECTRONICS ACQUIRES FIRE ALARM INSTALLER FIRE DETECTION SYSTEMS
US-based technology services organisation Tech Electronics has acquired fellow US-based fire alarm systems installer Fire Detection Systems, LLC, the company said.
Both companies are privately-owned manufacture-certified installers of Notifier fire alarm systems with strong presences in the construction industry. Tech Electronics, headquartered in St. Louis, Missouri, is a provider of life safety and communication technology solutions now with seven locations throughout the United States. The company's growth goals include achieving 100m in revenue by the year 2022 through continued geographic expansion, innovation and expanded service offerings.
Status: Closed

-TAG OIL CLOSES ACQUISITION OF ASSETS IN AUSTRALIA'S SURAT BASIN FROM SOUTHERN CROSS
New Zealand Oil and gas exploration and production company, TAG Oil Ltd. (TSX: TAO) (OTCQX: TAOIF) wholly owned Australian subsidiary, Cypress Petroleum Pty Ltd. has closed a deal with Southern Cross Petroleum and Exploration Pty Ltd. to acquire a 100% interest, subject to underlying royalties, in Petroleum Lease 17 and all related assets, which are located in Australia's Surat Basin, the company said.
This deal was announced last October. Under the deal TAG acquired a 100% right, title and interest in PL17 and all related assets for consideration of USD 1.73m (AUD 2.5m). TAG Oil is a development-stage oil and gas company with extensive operations, including production infrastructure in the Taranaki Basin region of New Zealand.
Status: Closed

-INMAR, TEAM FROM RECENTLY ACQUIRED COLLECTIVE BIAS ENTER RECORD BOOK
US-based commercial intermediary and data analytics provider Inmar, Inc. and its latest acquisition, marketing and measurement firm Collective Bias, Inc., have achieved the Guinness World Records title for the largest triangle ensemble, the firms said.
On 24 January 2017, the companies shattered the existing record of 574 musicians when 874 Inmar and Collective Bias employees performed 'I Heard It Through The Grapevine' by Marvin Gaye on the triangle. The joint accomplishment holds symbolism for the two teams, who joined forces with Inmar's acquisition of Collective Bias in November 2016.
Status: Closed