FriendFinder Networks, an internet and technology company, has bought BDM Global Ventures, a company which owns the operations of JigoCity, for a combination of stock and warrants.
Round-up of today’s M&A deals
FriendFinder Networks, an internet and technology company providing services in the social networking and web-based video sharing, has bought BDM Global Ventures, a company which owns the operations of JigoCity, for a combination of stock and warrants.
JigoCity operates as a global social commerce organization offering daily deals that are tailored to customers individual lifestyles.
It aims to leverage social buying to give people a smarter way to see their city. The business currently has 150 employees in 20 cities.
Marc Bell, chief executive officer of FriendFinder Networks, says: ‘We are expanding into today’s rapidly growing social commerce environment and we are very excited about the new possibilities this acquisition presents.
‘Not only are we acquiring a growing and successful social commerce company, we believe we are gaining an additional avenue to monetize our foreign markets. China and the Asia-Pacific region represent one of the fastest growing areas of the world in terms of economic growth, internet usage and middle and upper class consumers.
‘In addition, we believe this acquisition demonstrates the innovative ways we continue to leverage our large user base and the web traffic generated by our network of websites.’
Round-up of today’s M&A deals
- Chipmaker Broadcom purchases NetLogic Microsystems to expand its lineup of chips for wireless network equipment
Value: $3.7 billion (£2.3 billion)
Advisers: undisclosed
- Global Industries and Technip have signed a definitive merger agreement, by which Technip will purchase Global in an all cash merger
Value: The transaction values Global at an enterprise value of US$1,073 million (£678.5 million)
Advisers: undisclosed
- Provisur Technologies has acquired TS Techniek
Value: undisclosed
Advisers: undisclosed
- Seven Peaks is buying the assets of CityDeals, an online daily-deal provider
Value: undisclosed
Advisers: undisclosed
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- Lawson Software, an Infor affiliate, is to acquire Approva, which provides continuous controls monitoring Software
Value: undisclosed
Advisers: undisclosed
- Tech Data is acquiring Man and Machine’s (M2M) wholesaling business for an undisclosed sum to bolster its Autodesk operation
Value: undisclosed
Advisers: undisclosed
Read more
- Global mobile and digital technology business Mobile Interactive Group has purchased micropayments business Zaypay
Value: undisclosed
Advisers: undisclosed
Read more
