T-Mobile is buying Octopus Interactive, a national network of interactive video screens inside Uber and Lyft vehicles, the companies said Monday.
Take-Two Interactive would become “one of the largest and most diversified” mobile game publishers in the industry if its $12.7 billion Zynga buy, in a cash and stock transaction, becomes final in its fiscal Q1 ending June 30, said the companies Monday. The combined company will be “well-positioned to capitalize on the interactive entertainment industry’s strong tailwinds, including a leadership position in mobile,” they said. The videogame sector had rapid growth over the past few years and “is now the largest vertical in the entertainment industry,” they said, citing IDG Consulting data. Mobile gaming is the fastest growing segment within the industry, with an estimated $136 billion in gross bookings in 2021, and expected 8% compound annual growth over the next three years, they said.
Clear bought virtual queuing platform Whyline in an all-cash deal, and will use the acquisition to “expand and diversify” Clear products in new industries and countries, said the company Tuesday. Whyline’s mobile app enables users to see live wait-times, “enter into the queue remotely or pre-book their appointment, and let the software wait on their behalf,” it said. CTA adopted Clear’s Health Pass smartphone app for vaccine verification at CES 2022 badge pickup locations. Terms weren't disclosed.
CEDIA Expo owner Emerald Holding bought MJBiz, producer of the Emerald Conference, the oldest business-to-business cannabis trade show in the U.S., plus related media brands, it announced Tuesday. Emerald paid $120 million as an initial consideration on the transaction's closing, with potential future payments contingent on MJBiz's financial performance through 2022, it said.
Private equity firms GTCR, Stephens Capital Partners and Pritzker are investing in a joint venture with Cable One to accelerate plans to expand fiber coverage in former Clearwave and Hargray Communications territories, Cable One said Monday. It said it has a majority stake in the JV, Clearwave Fiber. See also personals section of this issue.
Intel completed the “first closing” of the divestiture of its NAND and solid-state-drive business, selling its SSD holdings and its NAND factory in Dalian, China, to South Korea’s SK hynix for $7 billion, Intel said Wednesday. Intel will continue manufacturing NAND wafers at Dalian and hold on to certain related intellectual property until the “final closing” of the transaction around March 2025, when SK hynix buys the rest of Intel’s NAND business for $2 billion. The SSD business will transition to a newly formed SK hynix subsidiary, Solidigm, based in San Jose.
AT&T got a “favorable" private letter ruling Tuesday from the IRS that AT&T's simultaneous spinoff of WarnerMedia and joining it with Discovery will be tax-free for AT&T shareholders for U.S. federal tax purposes, said an 8-K filing Wednesday at the SEC. AT&T previously submitted a request to the IRS for the ruling, as “contemplated” by the May 17 merger agreement (see 2105170034), it said.
Discovery's pending buy of AT&T's WarnerMedia got European Commission antitrust approval without conditions, Discovery said Wednesday. That EC OK "is a key milestone toward completing our proposed transaction with AT&T," said CEO David Zaslav. Discovery said it anticipates the deal closing in mid 2022, pending other regulatory approvals.
Silicon Valley Bank parent SVB Financial bought MoffettNathanson, it said Monday. SVB CEO Greg Becker said this adds tech equity research. MoffettNathanson's Craig Moffett said SVB's relationships "will not only bring our clients unique opportunities to participate in the value creation cycle of earlier-stage growth companies, they will also provide our analysts with unique insights into the competitive forces that will shape the destinies of the largest companies in our coverage universe.”
Sony Interactive Entertainment will buy videogame developer Valkyrie Entertainment and incorporate it into PlayStation Studios for creating key PS5 “franchises,” said Sony Friday. Valkyrie is known for creating a diverse mix of gaming titles for various platforms from PCs to consoles, said Sony. Valkyrie’s current management team will continue to run “day-to-day operations post-acquisition,” it said.