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, it was good timing for Snap to buy Fit Analytics, Diamondback Energy acquired QEP Resources and Clayton Dubilier & Rice finalized its acquisition of S&S Activewear.
Snap Inc. has acquired Fit Analytics in a move that will push its camera business into the e-commerce and shopping market.
Fit Analytics is a startup based in Berlin that has built technology to help shoppers find their size for footwear and apparel from online retailers using a wide set of personalization tools like its product Fit Finder.
Fit Analytics has established partnerships with around 18,00 brands including The North Face, Asos, Calvin Klein, Patagonia, and Puma.
Snap is acquiring the company as part of a long-term plan to bring more e-commerce and in-app purchases to Snapchat. The move comes after Apple’s iOS devices introduced greater privacy measures that will make it harder for companies like Snap to track how well their ads lead to purchases.
The terms of the deal have not been made public.
Diamondback Energy, a Texas-based hydrocarbon exploration company has completed its acquisition of oil and gas exploration and production firm QEP Resources in an all-stock transaction valued around $2.2 billion.
Under the terms of the agreement, QEP stockholders will receive 0.05 shares of Diamondback common stock in exchange for each share of QEP common stock.
The move comes less than a month after Diamondback Energy closed its acquisition of leasehold interests and related oil and gas assets from Guidion Operating LLC.
Diamondback chief executive officer Travis Stice commented “The business combination with QEP and the Guidion transaction are accretive on all relevant 2021 financial metrics including free cash flow per share, cash flow per share and leverate, even before accounting for synergies.”
The private investment firm Clayton, Dubilier & Rice (CD&R) has announced its completed acquisition of S&S Activewear.
S&S currently has more than 2,000 employees and has existing partnerships with big-name apparel brands including Adidas, Champion, Gildan, and Next Level Apparel. S&S brought in approximately $1.5 billion in sales.
The company emphasizes speed and quality of service through investments in national distribution capacity and technology, and established the largest one and two-day distribution footprint in the industry.
Included in the terms of the acquisition, S&S president Jim Shannon will take on the role of CEO, with CD&R operating partner John Compton taking over as chairman of the board.
Here are some other announcements worth paying attention to: