Connect with us

Acquisition

LiveXLive to Enter the Podcast Market; Will Acquire PodcastOne for $18.1 million

Published

on

Anticipating the growth in the global Podcast market, LiveXLive Media, Inc. (NASDAQ: LIVX), a global digital media company focused on live entertainment, announced today that it has signed a definitive agreement to acquire Courtside Group, Inc., the owner and operator of PodcastOne, a leading subscription and advertiser-supported podcast network home to popular and star-studded podcasts across top genres including sports, comedy, celebrity culture and entertainment, in an all stock deal. The transaction is valued at $18.1 million based on LiveXLive’s closing price on May 7, 2020. The proposed acquisition is expected to close by June 2020, subject to certain closing conditions.

PodcastOne generates over 2.1 billion downloads annually and produces over 350 episodes per week. PodcastOne’s library of over 300 podcasts includes shows from Adam Carolla, A&E’s Cold Case Files, Steve Austin, Shaquille O’Neal, Tip “T.I.” Harris, Dr. Drew, Heather and Terry Dubrow, Chael Sonnen, Kaitlyn Bristowe, LadyGang, Mike Tyson, Rich Eisen, Spencer and Heidi Pratt, Autumn Calabrese, Demi Burnett, Gals on the Go, and many more.

“We’re excited to expand our business into the fast-growing podcast category, complementing our music platform of streaming audio, on-demand video and live event performances. The acquisition will add to and diversify our revenue with a strong advertising component. Once acquired and integrated, we will have a significant opportunity to cross-sell and cross-promote to our respective subscribers, advertisers, and sponsors as well as provide our collective artists and on-air talent with an expanded platform to increase their social media and online presence,” commented Robert Ellin, the Chairman and CEO of LiveXLive.

Both companies are headquartered in Los Angeles, CA and planned consolidation of teams is anticipated to generate cost synergies and combine back-end support and office locations. Moreover, LiveXLive has plans to integrate PodcastOne into its music platform, offering current and new subscribers more unique and original programming. PodcastOne will also bring an experienced advertising sales team, tripling the size of the current LiveXLive sales team, as well as an established roster of major national brand advertisers and new distribution channels.

PodcastOne’s founder and Executive Chairman, Norman Pattiz, will join LiveXLive as a significant shareholder and remain as Executive Chairman of PodcastOne. Mr. Pattiz is regarded as a pioneer in the radio industry having founded and built Westwood One into the largest radio network in America.

“All of us at PodcastOne are excited about joining the LiveXLive team, and taking advantage of obvious future synergies between our businesses,” commented Mr. Pattiz. “I look forward to working with Rob Ellin to close the acquisition and achieve the growth we both envision.  PodcastOne is a premium producer, distributor and revenue-generator for audio-on-demand programming. PodcastOne’s well-established podcasting business is an excellent complement to LiveXLive’s  ‘live social music network’, delivering premium livestreams, digital audio and on-demand music.”

“I look forward to adding Norman to our management team. His entrepreneurial brilliance, as well as his incredible drive as a business executive, will be a valuable asset to LiveXLive,” continued Mr. Ellin.

The acquisition will bring LiveXLive into the fast-growing podcast industry. With 32% of Americans listening to podcasts on a monthly basis today and advertising revenue projected to surpass $1 billion by 2021, the acquisition will diversify LiveXLive’s revenue and is anticipated to accelerate its path toward profitability.

Transaction Summary
Under the terms of the definitive agreement, LiveXLive will acquire 100% of the equity interests of Courtside Group, Inc. and issue to stockholders of PodcastOne approximately 5.45 million restricted shares of LiveXLive’s common stock, which would be subject to a 12-month lock-up period and certain trading restrictions thereafter. The boards of directors of each of LiveXLive and Courtside Group, Inc. have approved the transaction, and expect to close the transaction by June 2020.

The proposed transaction is subject to customary and other closing conditions. For further information regarding the planned acquisition, see LiveXLive’s Current Report on Form 8-K anticipated to be filed with U.S. Securities and Exchange Commission on or about May 8, 2020.

This News has been Published in Partnership with PR Newswire

Acquisition

SUSE Completes Acquisition of Rancher Labs

Published

on

SUSE Completes Acquisition of Rancher Labs

SUSE, a global leader in true open source innovation, today announced it has closed the acquisition of Rancher Labs, the market leader in Kubernetes management. The combined company brings together a best-in-class Linux operating system, a market-leading Kubernetes management platform, and a host of pioneering edge capabilities that will give enterprises the power to innovate everywhere.

“Our customers have made it clear they want powerful technology that is both leading-edge and reliable to accelerate business transformation,” said SUSE CEO Melissa Di Donato. “We have historically delivered innovative solutions that anticipate what enterprises need, and today with Rancher, we are set to make history again. With our powerful and modular approach to open source software, our customers can count on reliability and unmatched agility to innovate everywhere – from the data center, to the cloud, to the edge and beyond.”

Innovate Everywhere through the Power of Many

SUSE and Rancher, in collaboration with a broad open source community, bring the best of innovation and stability for the enterprise.

SUSE, backed by a strong 28-year history and dedication to open source innovation, powers mission-critical applications and systems and is embedded in many devices like automobiles and medical devices around the world. Rancher was recently named a leader in The Forrester Wave™: Multicloud Container Development Platforms, Q3 2020 report and delivers open source software that enables organizations to deploy and manage Kubernetes at scale, on any infrastructure across the data center, cloud, branch offices and the network edge.

Rancher’s equal commitment to the open source community is backed by its support for multiple Kubernetes distributions and operating systems. With no vendor lock-in or limits on where computing takes place, enterprises can seamlessly innovate across their business from the edge to the core to the cloud. Together, the two companies will develop solutions that address today’s complexity for enterprises with a focus on new innovations in edge computing.

“I knew SUSE was the right company for us because of our shared ethos, viewpoint and philosophy of open source driving value to business leaders,” said Sheng Liang, former Rancher CEO and, as of today, the new President of Engineering and Innovation at SUSE. “Together, we are committed to making a significant impact on enterprise business across the globe, supporting each and every customer as they navigate cloud solutions and modernize infrastructure in a way that makes sense for their workflows.”

Bringing the ‘Open’ Back to ‘Open Source’

A shared commitment to the true ethos of open source and the greater community is what brought these independent companies together, and what will set SUSE apart as IT leaders across the globe evaluate options for business transformation.

SUSE and Rancher’s mutual customers and partners agree.

“Some open source companies are more open than others. In my experience, SUSE and Rancher are good examples and willing and able to work to deploy and service technology solutions that are truly designed to meet the needs of our business and that is incredibly refreshing,” said Frank Strecker, SVP, public cloud managed services and big data at T-Systems.

“We need to innovate in the data center and the cloud, and in order to be agile, we cannot commit to a single, heavy vertical stack. Only SUSE and Rancher deliver a truly open approach to open source software that can respond to the ever evolving, digital needs of the UK citizen in a rapid and consistent way,” said Jason Daniels, CTO, Law & Order Portfolio at Fujitsu.

Di Donato underscores these points. “Only SUSE and Rancher will provide the vision and expertise to power the future of the enterprise. Our independent approach gives customers the agility to tackle workflow challenges today, and the freedom to evolve their IT strategy and solutions tomorrow.”

SUSE most recently announced a successful fourth quarter which saw continued global growth. Cloud ACV (annual contract value) bookings continued to thrive with 87% growth, achieving 15 consecutive quarters of year over year cloud ACV increase. SUSE also saw a 21% increase year over year in customer deals worth more than $1 million.

Continue Reading

Acquisition

Plume Acquires Network and Security Intelligence Specialist Walleye Networks

Published

on

Plume Acquires Network and Security Intelligence Specialist Walleye Networks

––Acquisition fortifies Plume’s position as ‘The Experience Service Provider’ delivering innovative user-centric solutions––

Smart Home Services pioneer Plume® has acquired Walleye Networks, a Canadian network and security intelligence solutions provider specializing in real-time network analytics and advanced metadata. The transaction includes all of Walleye Networks’ intellectual property, technology and Research and Development (R&D) facility, in addition to its highly experienced and specialized engineering team. Plume intends to further invest in Walleye Networks’ R&D center, which provides access to a hotbed of technical talent in the British Columbia region.

The acquisition expands Plume’s expertise in key areas including Domain Name System (DNS) infrastructure, Distributed Denial-of-Service (DDoS) detection, Network Behavior Anomaly Detection (NBAD), Application Performance Management (APM), privacy analytics and management, and intelligent edge processing at scale.

“Granular network intelligence is a cornerstone of the secure smart home,” said Fahri Diner, Co-founder & CEO, Plume. “Walleye Networks enables an unparalleled level of insight with the most robust and in-depth data-driven security solutions available today––all developed to meet the highest levels of privacy. We are thrilled to welcome Derek and this extremely talented group of people to Plume, along with their novel technology and deep subject matter expertise.”

Walleye Networks’ advanced network and security intelligence solutions run on OpenSync™, the fastest-growing open-source framework for the smart home. Central to the solutions, OpenSync is performance-optimized to run in highly memory-constrained environments such as connected consumer devices, and supports a broad range of cost-effective hardware.

“We’ve had a longstanding and fruitful partnership with Plume, and have worked closely with many of the same communications service provider customers,” said Derek Lownsbrough, Co-Founder, Walleye Networks. “Plume is driving the smart home experiences of tomorrow, and we couldn’t be more excited to join this cause.”

The transaction closed on November 23, 2020––terms were not disclosed.

Continue Reading

Acquisition

Mphasis Acquires Datalytyx, a DataOps specialist in the Snowflake and Talend ecosystem

Published

on

Mphasis Acquires Datalytyx, a DataOps specialist in the Snowflake and Talend ecosystem

Mphasis, (BSE: 526299) and (NSE: MPHASIS), an Information Technology (IT) solutions provider specialising in cloud and cognitive services, announced today, its acquisition of Datalytyx, a leading next-gen data engineering and consultancy company. Headquartered in London, United Kingdom, Datalytyx provides Next-gen Data Engineering, Data Ops and Master Data Management solutions on Snowflake and Talend environments to clients globally. As the first Snowflake Rockies Partner in the UK, a Snowflake Select Solutions Partner, and a Platinum VAR partner of Talend, Datalytyx provides services for modern data projects enabling faster, more accurate analysis and Artificial Intelligence (AI).

Since its inception, Datalytyx has been supporting modern data projects by providing a managed data platform for analytics and machine learning, using best-in-class data tools. The company integrates client environments with platforms from its partners – Talend and Snowflake, creating a single integrated platform for Data and AI. Through its best and brightest talent (including engineers, scientists, and analysts) and data expertise, Datalytyx, has been driving digital transformation for its clients.

“Every enterprise needs the ability to turn raw data into actionable information at scale, the recent worldwide crisis has only accelerated this need. Data and analytics combined with artificial intelligence, will continue to play a dominant role to predict, prepare and respond to changing needs of the business,” said Nitin Rakesh, CEO and Executive Director, Mphasis. “Together with Datalytyx and its highly skilled data professionals, we believe Mphasis is distinctively positioned to further fuel our worldwide clients’ transformational projects. This acquisition will not only strengthen our next-gen data strategy but will also be a significant milestone in our journey to build capabilities relevant to the digital priorities of our clients.”

“We are delighted to be a part of the Mphasis family and firmly believe that the collective vision and capabilities will lay a strong foundation for the future. Our combined expertise will be central to Mphasis’ next-gen data strategy and will further drive our clients’ digital transformation in Global markets,” said John Webb, Co-Founder, Datalytyx.

“Datalytyx played a critical role when Snowflake opened up Europe in February 2017 and they have continued to invest and support us during this hyper-growth period. From day one, Datalytyx has supported us in data modernisation projects, providing a managed data platform for analytics and machine learning, creating a single integrated platform for Data and AI. We are excited to see the acquisition of Datalytyx, by Mphasis as strategic in becoming a global leader in this space. The foundations have been firmly laid, which give us all a platform for scale and immense opportunity,” said Tim Alexander, Director of Alliances EMEA, Snowflake.

“Since working with the Datalytyx team, the company has been supporting modern data projects with Talend at the forefront providing a managed data platform for analytics and machine learning, using best-in-class data tools creating a single integrated platform for Data and AI. Datalytyx has been instrumental in aligning with Talend’s customers, sales teams, and technology partners to provide modern data stacks to tackle the problems that companies face with a modern approach to advanced analytics. We applaud Mphasis’ acquisition of Datalytyx as a great move to enhancing them both with capability and capacity to become a global leader in this space,” said Rolf Heimes, Global Head of Business Development, Talend.

Continue Reading

Trending

Subscribe to our Free Newsletter

Get Business and Marketing Insights from Experts, only onTimes of Startups!

Your Information will never be shared with any third party