M&A Digest

merger acquisition
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A look at Mergers and Acquisitions in B2B this week…

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TD Securities completed the previously announced acquisition of Albert Fried & Company (AF&Co), which advances its U.S growth strategy.

The purchase of AF&Co’s services and capabilities includes self-clearing, securities lending and a prime brokerage technology platform in its final stages of development. TD Securities plans to complete the technology platform development with the aim to be fully operational in the prime brokerage business in 2017.

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OncoGenex Pharmaceuticals, Inc. (“OncoGenex”), a publicly held oncology biopharmaceutical company, and Achieve Life Science, Inc. (“Achieve”), a privately held specialty pharmaceutical company, announced that they have entered into a definitive merger agreement under which OncoGenex will acquire Achieve in an all-stock transaction.

Upon completion of the proposed merger, Achieve’s equity holders are expected to own 75% of the combined company’s outstanding shares and current stockholders of OncoGenex are expected to own the remaining 25% of the combined company’s outstanding shares.  Following completion of the merger, OncoGenex Pharmaceuticals, Inc. will be renamed Achieve Life Sciences, Inc.

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Novanta Inc., a global leader and supplier of photonics, precision motion, and vision technologies to original equipment manufacturers in the medical and advanced industrial markets, announced that it has reached an agreement to acquire the assets of ThingMagic, a division of Trimble, for $20 million in cash.  The transaction, subject to customary closing conditions, is expected to close in the first quarter of 2017.

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Kaufman Hall, a leading provider of management consulting services and enterprise performance management software, announced the acquisition of KREG Information Systems, a leading provider of contract management, budgeting, and decision support software for healthcare providers.

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Gartner, Inc., the world’s leading information technology research and advisory company, and CEB Inc., the industry leader in providing best practice and talent management insights, announced that they have entered into a definitive agreement whereby Gartner will acquire all of the outstanding shares of CEB in a cash and stock transaction valued at approximately $2.6 billion. The transaction has a total enterprise value of approximately $3.3 billion, including Gartner’s assumption of approximately $0.7 billion in CEB net debt. The transaction is immediately accretive to Gartner’s adjusted EPS and is expected to be double-digit percentage accretive in 2018. The transaction has been unanimously approved by the Boards of Directors of both companies and is expected to close in the first half of 2017.

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XTIVIA, a leading information technology, data solutions provider, and Premier IBM Business Partner announced the acquisition of 55 percent interest in STONS (Second to None Solutions).

This acquisition will greatly benefit both XTIVIA and STONS existing and future customers.  STONS brings the ability to re-sell all IBM Software lines and XTIVIA has the technical delivery capabilities to help customers with all IBM products.

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Abbott announced it has completed the acquisition of St. Jude Medical, Inc., establishing the company as a leader in the medical device arena. The transaction provides Abbott with expanded opportunities for future growth and is an important part of the company’s ongoing effort to develop a strong, diverse portfolio of devices, diagnostics, nutritionals and branded generic pharmaceuticals.

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net2phone, a provider of unified cloud-based communications services for businesses, announced that it has acquired LiveNinja, provider of an innovative customer-facing messaging and live chat management service. net2phone is a subsidiary of IDT Corporation, a global communications and payment services company.

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Epicor Software Corporation, a global provider of industry-specific enterprise software to promote business growth, announced that it has acquired privately-held docSTAR, an award-winning developer of document management software based in Schenectady, New York.

The acquisition brings docSTAR collaborative cloud-based enterprise content management (ECM) and automated accounts payable (AP) solutions to the Epicor enterprise resource planning (ERP) solutions portfolio.

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Dash Financial announced that Dash and Convergex have signed a definitive agreement to merge Dash and LiquidPoint (Convergex’s Options Trading and Technology business), creating a leading financial technology company in the options and equities markets.  Dash Financial is a leading institutional trading technology, execution and analytics provider devoted to bringing unfettered transparency and superior performance to the U.S. options and equities markets.  LiquidPoint is a leader in advanced options technology and routing services with deep penetration into the sell-side and exchange communities.

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