Notable Mergers and Acquisitions of the Day 06/13: (CTCT) (NOK) (LAKE) (JNJ)
- Top 10 News for 12/02 - 12/06: Facebook Snubbed Again; Bitcoin Mania!; New Deal for Apple?
- U.S. Adds Jobs at Higher Clip in November, Unemployment Rate Falls to 7%
- Bitcoin Crashes 21%
- Unusual 11 Mid-Day Movers 12/06: (MBLX) (VIFL) (BLDP) Higher; (RALY) (ULTA) (SEAC) Lower
- Sears Holdings (SHLD) Files to Spin-Off Lands' End Unit
- Constant Contact, Inc. (Nasdaq: CTCT) acquired privately owned SinglePlatform, which helps small businesses get discovered through web and mobile searches.
SinglePlatform gives small business a single place to update their critical business information and delivers that information across a publishing network that reaches more than 200 million consumers per month. This network includes sites like Foursquare, New York Times, YP, and UrbanSpoon, as well as the business’s social media profiles, website, and mobile site. SinglePlatform lets small businesses quickly distribute rich content so that consumers can find it at the very moment they are looking to make a purchase decision.
The transaction closed on June 12, 2012. The purchase price was approximately $65 million in cash, subject to certain adjustments. In addition, Constant Contact has granted approximately $5 million in cash and equity compensation for employee retention purposes. Under the terms of the definitive agreement, Constant Contact may be obligated to pay additional consideration of between $10 million and $30 million if SinglePlatform achieves certain revenue objectives over the next two years. SinglePlatform is now a wholly-owned subsidiary of Constant Contact.
- According to reports out late Tuesday, Nokia (NYSE: NOK) might strike a deal with Swedish private-equity firm EQT Partners to divest its Vertu phone unit. The deal may be valued as much as €200 million (about $250 million), according to Bloomberg.
The deal may be announced as soon as this week. For more color on Vertu and the deal, click here.
- After the market closed Tuesday, Lakeland Industries (Nasdaq: LAKE) announces it will be exploring strategic alternatives, including a possible sale.
- Also after the market closed yesteday, Johnson & Johnson (NYSE: JNJ) said it received U.S. regulatory clearance for its proposed acquisition of Synthes, Inc.
The approval completes all regulatory approvals required to close the transaction. Johnson & Johnson expects to close the transaction with Synthes on June 14, 2012, subject to the satisfaction of customary closing conditions on that date, for a total purchase price of approximately $19.7 billion in cash and stock.
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