21st Century Fox reached a preliminary agreement to acquire video advertising company true[X] media, Fox said Wednesday in a news release. After the sale, true[X] will remain a stand-alone business and continue to deliver services to television clients and streaming music companies, 21st said. The ad company’s clients include Microsoft, Visa, Apple, Disney and Procter & Gamble, the release said. “[T]rue[X] will work closely with Fox Networks Group to drive engagement between brands and consumers on Fox’s proprietary digital platforms,” the release said.
Projector manufacturer Optoma said it bought audio company NuForce, and the two companies will show their combined product lines at a suite at the Venetian Tower at CES. Combining product lines will enable the companies to offer a “streamlined system,” Optoma said Monday. The NuForce product range will include home cinema products that complement Optoma’s home projectors, along with wireless streaming speaker systems, headphones, amplifiers and digital analog converters, Optoma said. Terms weren't disclosed.
In recent years, Best Buy has closed dozens of Five Star stores in China and vowed in SEC filings to "continue to review our portfolio of stores across all geographies." As it stands, Best Buy by FY 2016 Q1 will have divested itself completely of the Five Star chain in China through a definitive agreement to sell the business to the Jiayuan Group, a prominent China-based real estate firm, Best Buy said in a Thursday announcement. It didn’t disclose terms, but in 2006 Best Buy paid $180 million to acquire an unspecified majority interest in Jiangsu Five Star (see 0605150137) and now operates 184 stores in China, all under the Five Star brand. "The sale of Five Star does not suggest any similar action in Canada or Mexico," CEO Hubert Joly said in a prepared statement. "Instead, it allows us to focus even more on our North American business. We will also continue to invest in and grow our China-based private label operations, with brand names that include Dynex, Insignia, Modal, Platinum and Rocketfish."
AOL acquired Vidible, a cross-screen video platform for the exchange of digital media, said a joint news release Tuesday. The terms of the deal weren’t disclosed. Vidible has 300,000 videos that garner 800 million plays per month, it said. AOL has 1 million premium videos in its library.
Supply chain services supplier Ingram Micro made a "binding offer" to acquire Anovo, a French-based supplier of reverse logistics and repair services for smartphones, tablets, wearables and set-top boxes across Europe and Latin America, the companies said in a joint announcement Friday. Anovo has operations in seven countries in Europe (Belgium, France, Germany, Poland, Spain, Switzerland and the U.K.), three in South America (Chile, Columbia and Peru), plus China, but none in North America, its website shows. The acquisition is to be completed in early 2015, the companies said. Terms weren’t released, but Anovo is expected to contribute more than $300 million annually to Ingram Micro’s revenue, they said. Europe and Latin America are "two regions that are experiencing robust growth with the proliferation of mobile devices, accessories and wearables," they said. Anovo CEO Francois Lacombe will continue to lead the company after it becomes an Ingram Micro subsidiary, they said. In a separate announcement Monday, Ingram Micro said it acquired a majority stake in Armada, which it called the largest value-added technology distributor in Turkey, with 2013 sales of more than $280 million. Ingram Micro plans to make a mandatory tender offer for the remaining shares in compliance with Turkish financial rules, the company said. Terms weren't disclosed.
Samsung Electronics will raise nearly $600 million by selling its 25.5 percent stake in sister Samsung Group subsidiary Samsung Techwin, a supplier of surveillance, aeronautics, optoelectronics and weapons technology, Samsung Electronics said in a Wednesday announcement. The buyer, Samsung said, is Hanwha Group, the South Korean defense contractor with 2013 sales exceeding $35 billion. The Samsung Electronics board authorized the sale, which is expected to close by June, so the proceeds can be used for "investments in new businesses" and to boost the company’s "core competency," the announcement said, without disclosing where the money will be spent. The sale comes about a month after Samsung Electronics reported a 48.8 Q3 net profit decline from a year earlier, as the company blamed lower average selling prices (ASPs) in smartphones on a "weak" product mix. Earnings in Samsung’s TV sector also fell on lower ASPs, higher panel prices and a slowdown in shipments in Latin America following the first-half sales surge that accompanied the World Cup in Brazil, the company said.
Samsung Ventures, which manages investments for Samsung’s various mobile and CE subsidiaries, bought an undisclosed stake in DocuSign, which bills itself as the "global standard for digital transaction management." Samsung’s investment, terms of which weren't released, "opens the opportunity to bring DocuSign closer to mobile users" for securely transacting "anything, anytime, anywhere, on any device," the companies said in an announcement last week. They called the investment "a precursor to the development of a broader strategic relationship" between the companies.
Rovi acquired Fanhattan, provider of cloud-based, content programming products. Rovi said Monday. Fanhattan's Fan TV integrates linear TV, over-the-top capability and other sources of programming through one device with a touch remote, Rovi said Monday in a . With Fanhattan's capabilities, Rovi will offer customers faster "time-to-market" and improved flexibility deploying next-generation discovery and media experiences across multiple screens, it said. The combined solution supports IP and hybrid set-top boxes, DVR functionality and "personalized interactive user-interfaces through reference design hardware and a software development kit," it said.
Lenovo completed its acquisition of Motorola Mobility from Google (see 1401310060) for $2.91 billion, including $660 million in cash, stock and a $1.5 billion three-year promissory note, the companies said Thursday. Lenovo will operate Motorola as a subsidiary that will stay headquartered in Chicago, it said. Google will continue to own most of the Motorola Mobility patent portfolio, but Motorola Mobility under Lenovo’s ownership will control more than 2,000 "patent assets" and a "large number of patent cross-license agreements," plus the Motorola Mobility brand and trademarks, they said.
Zebra Technologies completed its $3.45 billion purchase of Motorola Solutions’ enterprise unit, Zebra CEO Anders Gustafsson said in a Monday news release. The deal, disclosed in April, will allow Zebra to “provide the building blocks of Internet of Things solutions, as customers worldwide increasingly take advantage of data analytics and mobility to improve business performance,” Gustafsson said. Some 4,500 Motorola Solutions employees will transfer to Zebra, the company said.