ON Semiconductor extended its tender offer to acquire all outstanding shares of Fairchild Semiconductor at $20 per share, it said Friday. ON received a request for additional information from the FTC on regulatory approvals Thursday and the offer to acquire Fairchild, announced Nov. 18, will expire March 31 unless further extended, it said. ON Semiconductor plans to dispose of its ignition insulated gate bipolar transistors business to satisfy FTC antitrust concerns and said Fairchild and ON will continue to engage “closely and cooperatively with the FTC” is it finalizes its review of the transaction. The companies are confident the necessary regulatory approval will be obtained and said they received clearance for the acquisition from antitrust authorities in Germany and Japan.
Looking to broaden its provision of broadcast and online video services, Verizon Digital Media Services is buying Volicon, it said in a news release Wednesday. With Volicon, Verizon said it will be able to offer more routes for taking broadcast feeds and channels to over-the-top cloud-based delivery models. "With the shift to all things digital, mobile and video, we are committed to enabling all creators, publishers and broadcasters to bring their content to the internet with the highest quality and a trusted partner globally," said Verizon Digital Media Services President Bob Toohey. "Volicon's role as a trusted provider to more than 1,200 broadcast and video operators around the world, combined with deep expertise in video monitoring and analysis, will improve visibility, transparency, and quality of our clients content and ads over our global delivery footprint."
Harman completed its buy of cybersecurity company TowerSec (see 1601050057), it said Friday. TowerSec specializes in onboard network protection for connected vehicles. Harman expects the transaction to be dilutive to operational earnings by about 5 cents per share in FY 2016, and it will be reported as part of Harman’s Connected Car division, it said.
Sky invested $6 million in fuboTV, a U.S.-based video streaming service that provides “a premium, over-the-top bundle” of sports TV channels, Sky said in a Thursday announcement. Though it launched just a little more than a year ago, fuboTV “has quickly become the second largest aggregator and distributor of linear OTT sports content in the U.S., growing to more than 40,000 subscribers,” Sky said. The service is available in English, Spanish and Portuguese through a range of platforms and devices, and has landed U.S. distribution deals with TV channels that hold rights to major worldwide sporting events, including live soccer matches from more than half of the leading international leagues and tournaments, Sky said.
Microsoft agreed to buy mobile app developer Xamarin, it said Wednesday. In a blog post, Scott Guthrie, Microsoft's executive vice president-cloud and enterprise group, said Xamarin’s open cloud-based platform allows developers to share common code across iOS, Android and Windows apps while delivering native experiences for each, he said. Xamarin has more than 15,000 customers in 120 countries, including more than 100 Fortune 500 companies, said Guthrie. Terms weren't disclosed.
Yahoo said its board formed a committee to “evaluate strategic alternatives for the company,” which may include a sale of its $32 billion stake in Chinese e-commerce company Alibaba and other Yahoo components. Yahoo has faced pressure from its investors to take action, given the 40 percent slide in the company’s stock since late 2014. Yahoo announced plans in early February to lay off 15 percent of its staff after reporting a net loss of more than $4.3 billion for 2015. “Separating our Alibaba stake from Yahoo’s operating business is essential to maximizing value for our shareholders. In addition to the reverse spin, there are strategic alternatives that could help us achieve the separation, while strengthening our business," Yahoo CEO Marissa Mayer said in a news release. Yahoo’s board believes “pursuing these complementary paths is in the best interests of our shareholders and will maximize value,” Chairman Maynard Webb said.
Pilot, NAB's technology division, invested an undisclosed sum in news curating platform Haystack TV, NAB said in a news release Thursday. "America's local broadcasters can potentially leverage this type of application to reach and engage an even larger audience," said NAB Chief Technology Officer Sam Matheny, who will join Haystack TV in an advisory position.
In a combination of two big suppliers of electronic learning products, VTech will buy LeapFrog for $72 million cash, the companies said Friday in a joint announcement. The boards of both companies unanimously approved the deal, they said.
Western Digital is “pleased with the progress we're making in obtaining required regulatory approvals” for its SanDisk acquisition (see 1510210027), CEO Stephen Milligan said Thursday on an earnings call. It has always been Western Digital’s goal “to close the acquisition as soon as possible,” Milligan said. That the FTC completed its antitrust review “without issuing a second request” for information is “confirmation of our view that this transaction is pro-competitive,” he said. “Based on our work with other agencies around the world, we currently anticipate that the acquisition will close in the June quarter.” The SanDisk acquisition remains important “to our overall strategic plan,” he said. “Once we close the acquisition, we will have the broadest set of products to offer our customers, a deep technology base across non-volatile memory and rotating magnetic media and an expanded addressable market.”
Hollywall Entertainment bought online video distributor OpenVision Networks, it said in a news release Thursday. Financial terms of the cash and stock acquisition weren't disclosed. Hollywall said OpenVision will operate as HollyVision, with founders Sherman Davis and Leroy Gordon managing it and reporting to Hollywall CEO Darnell Sutton. By acquiring OpenVision, “Hollywall will now offer news and entertainment seekers a one-stop venue with the greatest ease of access to a world of outstanding content, either free or at competitive rates, from television, movies, radio and video games," Sutton said in the release. As "the first virtual, mainstream international cable network," HollyVision will provide 24-hour free basic service available online, while its Key Lime Pie set-top box will allow for viewing of its content on TVs, the release said.