The UK’s Competition and Markets Authority (CMA) has prevented Microsoft’s proposed purchase of Activision over concerns the deal would alter the future of the fast-growing cloud gaming market, leading to reduced innovation and less choice for UK gamers over the years to come. The final decision to prevent the deal comes after Microsoft’s proposed solution […]
Swedish telco Telia Company has entered into a binding term sheet agreeing upon the key terms on which to sell 100 per cent of its operations and network assets in Denmark to Danish energy and telco group, Norlys, at an expected enterprise value of DKK 6.25 billion (€838m), on a cash and debt-free basis. The […]
The mergers and acquisitions (M&A) deal value in the global Tech, Media, and Telecom (TMT) sector totalled $754 billion (€686bn) in 2022, down 31 per cent from 2021, according to data and analytics company GlobalData. The number of M&A deals in the sector also dropped sharply by 39 per cent in 2022 as climbing inflation […]
The on/off merger talks between Zee Entertainment Enterprises (ZEEL) and Sony Group have resumed. ZEEL is in advanced talks with its creditors in order to settle debts and remove one remaining problem with its sale to Sony Pictures Networks India (SPNI) a wholly-owned subsidiary of Sony Corp. ZEEL owes $18.1 million to ISBI Bank, and […]
Gaming giant Sega is set to acquire Rovio Entertainment Oyj, the mobile game company headquartered in Finland. Through a Tender Offer, Sega aims to acquire the entirety of Rovio’s outstanding shares and options at €9.25 per share, or €706 million in total. Sega says the acquisition is “a friendly takeover”, as Rovio’s board of directors […]
Squirrel Media has reached an agreement with Mondo, a European producer and distributor of animated content – through a binding letter of intent – for the integration into Squirrel Media of Mondo TV Studios. Squirrel Media is a communication technology group chaired by Pablo Pereiro Lage. It works globally across four main business areas: advertising, […]
The European Commission has informed software solutions specialist Broadcom of its preliminary view that its proposed acquisition of enterprise software provider VMware may restrict competition in the market for certain hardware components which interoperate with VMware’s virtualisation software. In December 2022, the Commission opened an in-depth investigation to assess if Broadcom’s acquisition of VMware may […]
Canal+ Group and M7 Group have decided to exercise their call option on the 30 per cent remaining shares of SPI International and therefore to acquire full ownership of the company. Effective immediately Berk Uziyel and Loni Farhi will step down from their roles in SPI International. Erwan Luherne and Jeroen Bergman have taken over […]
The Autoridade da Concorrência (AdC), Portugal’s Competition Authority, has launched an in-depth investigation into Vodafone Portugal’s acquisition of local quad-play provider Nowo, expressing competition concerns. The antitrust authority justified its decision with the fact that, “given the evidence so far, it cannot be excluded that the merger will significantly impede effective competition in the national […]
Virgin Orbit has secured $31.6 million (€29.9m) in ‘Debtor in Possession’ financing from its US bankruptcy court in Delaware. The satellite services company said it intends to use the Chapter 11 process to maximise value for its business and assets. The cash comes from Virgin Investments. “Upon approval from the Bankruptcy Court, the DiP financing […]