M&A‌ ‌Report:‌ DivvyPay, Nordeus and Hyperx In‌ ‌the‌ ‌News‌ ‌

In‌ ‌keeping‌ ‌with‌ ‌our‌ ‌mission‌ ‌to‌ ‌provide‌ ‌comprehensive‌ ‌advertising‌ ‌analysis,‌ ‌MediaRadar‌ ‌puts‌ together‌ ‌a‌ ‌report‌ ‌of‌ ‌the‌ ‌most‌ ‌important‌ ‌mergers‌ ‌and‌ ‌acquisitions‌ ‌news‌ ‌each‌ ‌week.‌ ‌Stay‌ ‌in‌ ‌the‌ loop,‌ ‌whether‌ ‌you‌ ‌sell‌ ‌advertising‌ ‌space‌ ‌or‌ ‌focus‌ ‌on‌ ‌business‌ ‌development.‌ ‌ ‌

This‌ ‌week, Bill.com acquired DivvyPay, video game company Take-Two Interactive invested in the football/soccer market with Nordeus and HP gained Hyperx.

Bill.com purchases DivvyPay

Bill.com, a company that provides back-office software, has completed its deal to acquire Divvy, a Utah-based platform which combines expense-management software with smart corporate cards, in a stock-and-cash transaction valued around $2.5 billion. 

The financial terms of the deal break down to $625 million in cash and $1.875 billion in stock. Divvy offers services such as automated payables and receivables for over 7,500 SMB customers. 

Take-Two Interactive gets into soccer with Nordeus

Video game company Take-Two Interactive has invested in the football/soccer market with its purchase of Nordeus, a company known for its “Top Eleven” mobile football management game. 

The deal closed at $225 million, with up to $153 million in additional payments if certain thresholds are reached.  

“Top Eleven” is the most successful mobile soccer management game with over 240 million active users. Noredeus is also developing future soccer-related mobile titles and technology. 

Take-Two also owns major game publishers such as Rockstar Games and 2K.

HP acquires HyperX to focus in on the gaming market

HP has completed its acquisition of gaming technology company HyperX, which produces video game accessories including headsets, keyboards, microphones, mice, and PCs. 

The deal, valued at $425 million, increases the company’s focus on the gaming market as it strives to contend with dominant names such as Corsair, Logitech, and Razer. 

HP recently announced a series of new gaming accessories through its subsidiary Omen Vector, including new gaming mice and a wireless headset. 

HyperX had been owned by Kingston Technology Company, which will continue to make DRAM flash, and SSD gaming accessories. 

In‌ ‌Other‌ ‌News‌ ‌

Other notable events this week include:

• PNC Financial Services Group, Inc. announced on Tuesday that it has completed its acquisition of BBVA USA Bancshares, Inc. 

• Gray Television has struck a deal to acquire the Local Media Group from Meredith Corporation for $2.83 billion.

• E-commerce site Etsy has made an offer to acquire the UK-based secondhand shopping app, Depop, for $1.6 billion.

• CTH, a Belgian holding company affiliated with Ferrero Group, announced that it is acquiring Burton’s Biscuit Company from the Ontario Teachers’ Pension Plan Board, an investment fund with extensive private equity interests. 

• According to the Wall Street Journal, private equity firms KKR and Clayton Dubilier & Rice have agreed to acquire publicly traded software company Cloudera in a $5.3 billion deal. 

• Prosus N.V., a division of South African consumer Internet company Naspers, announced that it has entered into a definitive agreement to acquire Stack Overflow for $1.8 billion. 

• According to Bloomberg, Electric truck startup Rivian Automotive Inc. is said to have selected underwriters for an initial public offering later this year. 

• According to Bloomberg, skincare company Paula’s Choice is planning to launch an IPO later this year aiming to raise $300 million or more. 

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