Tyler Technologies and NIC Inc jointly announced their decision to merge today in an all-cash deal which values the company at $2.3 billion. The merger will combine Tyler’s strength in local government and NIC’s power in state government. Shares of NIC soared 15.5% in premarket trading while Tyler shares dipped slightly.
Tag: Mergers and acquisitions
BGSF Acquires Momentum Solutionz
BGSF announced that it completed the acquisition of Momentum Solutionz for a purchase price consisting of $3.78 million paid at closing and up to $2.22 million in earnout based on achieving certain performance targets in the first two years following closing, subject to customary purchase price adjustments.
EA To Acquire Glu Mobile For $2.4 Billion
Electronic Arts has decided to buy mobile game company Glu Mobile for $2.4 billion. Glu will receive $12.50 in cash for each Glu share held. The acquisition is expected to enhance EA’s mobile games portfolio while giving Glu access to EA’s intellectual property, marketing, and distribution capabilities. The transaction is expected to close in the quarter ending June 30.
Magnite To Acquire SpotX From RTL Group For $1.17 Billion
Magnite has agreed to buy advertising platform SpotX from RTL Group for $1.17 billion through a combination of cash and equity. The combination will allow the merged entity to offer a wider set of CTV inventory to clients and become the largest independent CTV and video advertising platform.
Jazz Pharmaceuticals To Buy GW Pharmaceuticals For $7.2 Billion
Jazz Pharmaceuticals has agreed to buy GW Pharmaceuticals for $7.2 billion through a combination of cash and equity. The product diversification from the merger is expected to result in double-digit revenue growth and to be accretive in the first full year of operations. Shares of GW are up substantially while Jazz shares have slipped slightly.
Britain’s IG Group Snaps Up U.S. Brokerage Tastytrade For $1 Billion
IG Group is set to acquire the fast-growing derivatives trading platform tastytrade for $1 billion. The consideration will be paid through a combination of cash and equity. The transaction will expand IG’s presence in the US while providing a global platform to tastytrade.
Citrix In Talks To Acquire Wrike For $2 Billion
The software giant Citrix is in talks to potentially acquire work management platform Wrike for over $2 billion to expand its collaboration software business.
Steris Enters Definitive Agreement To Acquire Cantel Medical
Steris has entered into a definitive agreement to buy Cantel Medical Corporation, valued at $84.66 per Cantel common share. Post the announcement of the merger, shares of Cantel were up 1.8% in premarket trading while Steris’s shares fell 1.2%.
IBM Buys Canadian FinTech Expertus
IBM has purchased a Canadian fintech startup Expertus for an undisclosed amount. The merger would allow IBM to enhance its artificial intelligence (AI) tech and digital payment tools.
JD Sports Takes Over Shoe Palace To Boost US Operations
JD Sports’ US subsidiary has bought Shoe Palace for a total value of $681 through a combination of cash and issue of shares which will result in the founders of Shoe Palace owning 20% of the enlarged firm. JD aims to strengthen its market position in the US through the latest acquisition.