B2B News for December 3: Salesforce + Slack, Intelsat; MiddleGround Capital

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Salesforce will acquire Slack for $27.7 billion. Slack shareholders will be paid $26.79 in cash and 0.0776 shares of Salesforce common stock for each of their shares. This represents an enterprise value of approximately $27.7 billion in consideration of Salesforce’s common stock price at closing on November 30, 2020.

Media report: https://www.nytimes.com/2020/12/01/technology/salesforce-slack-deal.html

Salesforce press release: https://slack.com/intl/en-ca/blog/news/salesforce-signs-definitive-agreement-to-acquire-slack

Intelsat acquired inflight Internet provider GOGO for a cash payout of $400 million yesterday. Intelsat is world’s largest satellite operator with the leading provider of commercial inflight internet service. With this acquisition Intelsat will provide broadband connectivity to nine of the top 20 global airlines. Now part of the satellite provider’s portfolio of services is an installed base of more than 3,000 commercial aircraft.

Media report: https://paxex.aero/2020/12/intelsat-closes-on-gogo-commercial-aviation-buyout/

Intelsat press release: https://www.intelsat.com/newsroom/intelsat-completes-acquisition-of-gogo-commercial-aviation-announces-leadership-appointments/

 

There’s been a shake-up in the international sport betting suppliers realm. BetMakers will pay $56.2 million Australian dollars to acquire Tote betting supplier Sportech PLC. The deal will accelerate BetMakers US expansion plans.

Media report: https://egr.global/intel/news/betmakers-seals-31m-sportech-acquisition-in-supercharged-us-drive/

Sportech’s micro site about the deal: https://www.sportechplc.com/strategic-review/

 

MiddleGround Capital acquired majority ownership of Shiloh Industries, Inc. Shiloh is a light weighting solutions provider for the automotive industry. The deal is MiddleGround’s seventh platform acquisition and its fifth in 2020 alone. It is also the private equity firm’s second automotive deal during the pandemic. The firm is actively investing in lower middle market B2B industrial businesses headquartered in North America.

Media report: https://www.businesswire.com/news/home/20201201005831/en/MiddleGround-Capital-Acquires-Shiloh-Industries-Inc.

Shiloh Industries, Inc press release: https://shiloh.com/2020/12/01/middleground-capital-acquires-shiloh-industries-inc/

 

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Kate Baggott

Kate Baggott

Kate Baggott is a former Managing Editor of B2BNN. Her technology and business journalism has appeared in the Technology Review, the Globe and Mail, Canada Computes, the Vancouver Sun and the Bay Street Bull. She is the author of the short story collections Love from Planet Wine Cooler and Dry Stories. Find links to recent articles by following her on LinkedIn https://www.linkedin.com/in/kate-baggott-9a0306/