Altice expects to close its $310 million Morris Broadband buy in Q2, expanding its North Carolina presence, the cable ISP said Monday. Altice CEO Dexter Goei said this fits into Altice's strategy of upgrading underdeveloped systems and using fiber-to-the-home deployment to drive growth. Altice has been on the hunt for rural assets to diversify away from the New York market, and Morris' relatively low penetration leaves room for growth, emailed MoffettNathanson analyst Craig Moffett. "It illustrates strong demand for rural broadband assets."
Boingo Wireless agreed to be sold in a $854 million deal to an affiliate of digital infrastructure investment firm Digital Colony Management for $14 per share in cash, said the Wi-Fi carrier Monday. Boingo canceled its financial earnings call Monday. The stock closed 25.1% higher at $14.26.
Harman bought the assets of Savari, an automotive hardware and software company developing vehicle-to-everything communications (V2X) technology for 5G edge and automotive devices, it said Friday. Savari’s technology will boost Harman’s automotive telematics and advanced driving assistance systems (ADAS) capabilities, and expand its presence in 5G edge, multi-access edge computing (MEC) and smart infrastructures. The integration of connected cars, cities and devices “is only possible through a comprehensive software and hardware stack, including sensors, 5G connectivity and edge computing,” said Christian Sobottka, president-Harman automotive division. Adding Savari’s MEC technology and teams will help Harman build an open platform based on 5G and V2X, he said. Savari’s V2X sensor solutions and edge-based analytics are used in vehicle-to-infrastructure, vehicle-to-phone for pedestrians and bicyclists, vehicle-to-vehicle and infrastructure-to-phone applications, Harman said. The radio-agnostic designs fit any standards-compliant radio, it said. Terms of the deal weren’t given. Savari employees will be integrated into Harman’s automotive division upon closing, it said.
Cisco completed its all-stock acquisition of cloud company IMImobile for $730 million, said Cisco Friday. The companies will work together “over time” to integrate IMImobile’s products into Cisco’s, blogged Cisco Contact Center Vice President Omar Tawakol Friday. The two teams for the interim will function “separately” under his watch “in the spirit of supporting IMImobile’s existing strategic ambitions,” he said.
Cable One, a minority owner in Hargray Communications, will buy the rest in a deal valuing the telecom company at $2.2 billion, as it looks to expand its presence in the Southeast, the buyer said Monday. The deal is expected to close in Q2. Cable One said this will give it access to Hargray's fiber expansion capabilities.
Gamber-Johnson, a supplier of mounting systems for fleet and public safety vehicles, bought Premier Mounts, announced the buyer Tuesday. Premier Mounts will become a Gamber-Johnson brand with its main office functions remaining in Corona, California, where it will operate as one of Gamber-Johnson’s quick response office cells, said Brent Henderson, Premier Mounts general manager. Manufacturing, warehousing, and corporate headquarters are in Stevens Point, Wisconsin.
Walmart bought advertising technology firm Thunder Industries and is developing a display self-serve platform for suppliers who sign up for the retailer’s media business, blogged Janey Whiteside, chief customer officer, Thursday. The company can “serve clients in a way no one else can -- as a closed-loop omnichannel media company,” she said. Later this year, vendors will be able to have advertising creative produced using “the assets you want and automatically generate the right sizes and specifications for your campaigns,” it said. The platform is designed to boost connections between brands and customers “at scale,” with the ability to measure results. Customers will be able to see how the look and feel of different ads perform and make edits accordingly, she said. Thunder’s technology will be integrated with Walmart's display self-serve platform to help brands automate their creative, said the executive. It will reduce the time between the idea for an ad and its going live, she said.
Judge Trevor McFadden of the U.S. District Court for the District of Columbia OK'd the agreed terms for Liberty Latin America's $1.95 billion acquisition of AT&T’s wireless and wireline businesses in Puerto Rico and the U.S. Virgin Islands (see 2010230053), in a final judgment last week (in Pacer, docket 20-cv-03064).
The FTC and DOJ Antitrust Division temporarily suspended early terminations of the Hart-Scott-Rodino waiting-period review of mergers and acquisitions, over the objections of FTC Commissioners Noah Phillips and Christine Wilson. The commission said it expects the suspension to be "brief." Given "the confluence of an historically unprecedented volume of filings during a leadership transition amid a pandemic, we will presume we need those 30 days" for reviewing the competitive implications of a proposed transaction "to ensure we are doing right by competition and consumers," said FTC acting Chairwoman Rebecca Kelly Slaughter. Phillips and Wilson said the suspension seems "unwarranted" without better explanation, and past suspensions have been done only in response to a crisis.
Uber will buy Drizly, the e-commerce alcohol marketplace, for $1.1 billion, 90% in stock, they said Tuesday. Drizly’s marketplace will be integrated into the Uber Eats app, they said. The deal is expected to close by June 30.