Streetbeat News

Acquisitions Mergers

ROP

Roper Technologies has completed the acquisition of Syntellis Performance Solutions for a net purchase price of $1.25 billion. Syntellis, a provider of cloud-based performance management and data solutions, will be combined with Roper's Strata Decision Technology business.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 12:49 pm

TAP

Molson Coors Beverage Company (MCBC) has agreed to acquire Blue Run Spirits, a producer of bourbon and rye whiskies. The deal is part of MCBC's evolution as a total beverage company and will provide Blue Run with resources for growth.

Portfolio Pulse from Charles Gross

August 08, 2023 | 12:48 pm

EMKR

EMCORE Corporation (NASDAQ:EMKR) has announced a nonbinding letter of intent for the sale of its Defense Optoelectronics product line and all Broadband segment product lines, except chips, to Photonics Foundries, Inc. The sale does not include EMCORE's chip business or wafer fab assets. The company expects the transaction to be completed by the end of Q3 2023, subject to further buyer diligence, receipt of certain third-party consents, and negotiation and execution of legally binding definitive transaction agreements.

Portfolio Pulse from Happy Mohamed

August 08, 2023 | 12:42 pm

TRNS

Transcat has acquired all of the capital stock of privately-held Axiom Test Equipment for $38 million. The purchase price was paid in a combination of $28 million in Transcat stock and $10 million in cash. Axiom is a rental provider of Electronic Test Equipment across the United States, with 26 employees and headquartered in San Diego, California.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 12:36 pm

BUD

TLRY

Tilray Brands Inc (NASDAQ:TLRY) announced a deal to acquire eight beer brands from Anheuser-Busch Inbev (NYSE:BUD). The all-cash deal, expected to close this year, includes current employees, breweries, and brewpubs associated with the brands. The acquisition is expected to generate craft beer pro forma revenue of $250 million and strengthen Tilray's distribution capabilities. Tilray shares were up 12.6% at the time of publication.

Portfolio Pulse from Adam Eckert

August 08, 2023 | 12:32 pm

ADT

Private equity firm GTCR has signed an agreement to acquire ADT's Commercial fire and security segment (ADTC) for approximately $1.6 billion. The deal, which is expected to close in Q4 2023, will see ADTC become a standalone company. GTCR plans to drive growth and innovation at ADTC, with additional capital available for strategic M&A opportunities.

Portfolio Pulse from Happy Mohamed

August 08, 2023 | 12:25 pm

RXRX

Recursion (NASDAQ:RXRX) has successfully screened the Enamine REAL Space chemical library using its MatchMaker technology, recently acquired from Cyclica, to predict the protein target(s) for approximately 36 billion chemical compounds. The company generated this massive new data layer of predicted interactions in less than 90 days after closing the acquisition of Cyclica and in under 30 days since initiating the collaboration with NVIDIA. Recursion plans to leverage this new database of predictions to industrialize its chemistry operations across its pipeline and in service to its partners.

Portfolio Pulse from Happy Mohamed

August 08, 2023 | 12:21 pm

NVEE

NV5 has acquired Red Technologies, a move that strengthens its data center and mission critical services in the Asia Pacific region. The acquisition was made with a combination of cash and stock and is expected to be immediately accretive to NV5's earnings.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 12:18 pm

MEG

Montrose Environmental Group has announced the acquisition of water-treatment experts Vandrensning. The terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 12:13 pm

HNI

HNI Corp expects Q3 2023 adjusted EPS to be slightly lower than Q3 2022 due to lower volume in Residential Building Products and normalization of variable compensation, partially offset by higher profitability in Workplace Furnishings. The company also expects the Kimball International acquisition to add $340 to $370 million of revenue and be solidly accretive to non-GAAP EPS in 2023, with the greatest benefit in Q4. The divestiture of Poppin is expected to be completed in Q3 2023, generating an operating loss of $3.5 to $4.0 million and revenue of $7 to $9 million.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 11:39 am