The past year has already been marked by major changes at Scottsdale’s Blue Yonder. Now the company appears headed for the stock market. Blue Yonder, which makes logistics software, was acquired by Osaka, Japan-based Panasonic last year in a blockbuster $7.1 billion purchase, and now Panasonic is looking to spin out Blue Yonder and its other supply chain management businesses into a public company.
Mergers & Acquisitions
Intel Corp. on Thursday said it has agreed to acquire Israeli startup Granulate Cloud Solutions Ltd. in a deal reported to be worth about $650 million. The companies didn’t disclose the price but Haaretz reported in Israel last week that it would be $650 million. TechCrunch also reported that figure on Thursday.
Carvana, the industry pioneer for buying and selling cars online, has signed a definitive agreement to acquire ADESA’s US physical auction business (“ADESA U.S.”), a wholly owned subsidiary of KAR Global (NYSE: KAR), subject to customary closing conditions, for $2.2 billion in cash. ADESA U.S. is the second largest provider of wholesale vehicle auction solutions in the United States with 56 sites and approximately 4,500 corporate and operations team members. In 2021, the ADESA U.S. business facilitated more than one million transactions through those sites, which total approximately 6.5 million square feet of buildings on more than 4,000 acres.
Intel Corporation (Nasdaq: INTC) and Tower Semiconductor (Nasdaq: TSEM), a leading foundry for analog semiconductor solutions, today announced a definitive agreement under which Intel will acquire Tower for $53 per share in cash, representing a total enterprise value of approximately $5.4 billion. The acquisition significantly advances Intel’s IDM 2.0 strategy as the company further expands its manufacturing capacity, global footprint and technology portfolio to address unprecedented industry demand.
LaneTerralever, a Southwest-based digital marketing and branding agency, said Monday that it has acquired digital media and consulting firm Convince & Convert, and will operate both agencies under a new collective called Experience Dynamic.
Honeywell (Nasdaq: HON) today announced it has agreed to acquire privately held US Digital Designs, Inc., a Tempe, Ariz.-based company, for a purchase multiple of ~14X EBITDA in an all-cash transaction. The company delivers alerting and dispatch communications solutions, which enhance first responders’ efficacy and enable faster emergency response times.
California-based The City of Hope, which has had an alliance with Phoenix-based Translational Genomics Research Institute for several years, is about to expand its Arizona presence even further. The nonprofit cancer research institute announced Wednesday that it is in talks to pay $390 million to acquire Boca Raton, Florida-based Cancer Treatment Centers of America, a network of oncology hospitals and outpatient care centers, including in metro Phoenix.
Being approached by another company who is interested in acquiring yours can be validating and exciting. It’s easy to immediately get swept away at the thought of the potential financial reward. For any company leader, it is essential to follow the appropriate steps when you’re approached with an acquisition opportunity.
GitKraken, the world’s most popular Git client, announced today it has acquired BigBrassBand and its popular Git Integration for Jira. GitKraken already enables 2.5 million developers from 75,000 companies to develop better code faster, by making Git easier, safer, and more powerful to use across teams of all sizes.
PADT, Inc. announces leadership expansion to support the growth of 3D printing and simulation units; Intel Corporation Vice President of IoT Group Christine Boles has been named as a 2021 Influential Woman; Salt River Project teams with Accenture to transform the employee experience; Scottsdale-based Symmetry Software is acquired by California startup Gusto; Yeager Marketing wins three American Marketing Association awards; autonomous driving technology company Waymo partners with Chandler, Arizona-based nonprofit AZCEND; Scottsdale-based Paradox acquires Baltimore startup Traitify; Alluvion Communications is awarded $14.8 million to construct and deploy a new fiber network in rural Arizona; global tech distribution leader Avnet Inc. sees record quarterly revenue as fiscal year 2021 wraps up; and more.