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In 2007, News Corp paid $188m to buy 51% of VeriSign’s mobile content provider Jamba (aka Jamster in the U.S.).  Today, News Corp paid another $200m to acquire the rest.

VeriSign originally bought the mobile games and ringtone vendor in 2004 for about $273m.  The company was founded in Berlin in 2000.  Ringtones, and phone wallpaper are among its leading products.  Games and video excerpts are also offered. Jamba has been operating in the US and China since 2005 but also maintain a presence in Australia, Germany, Ireland, New Zealand and the UK.

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Crossing T’s and dotting I’s, this week there were a couple news briefs from the M&A front:

Sony BMG:  After months of rumors, Sony announced August 5th that they’d reached an agreement to buy partner, Bertelsmann’s, fifty percent stake in their joint Sony BMG music label.  Regulators in Europe approved the deal a few weeks ago and it’s now officially complete.  The world’s second largest record label, which includes famed imprints Columbia, Arista, Epic and RCA records, will now be called Sony Music Entertainment, Inc. and be a subsidiary of Sony Corporation of America.  Bertelsmann received $1.2b, including $300m in cash that was carried on Sony BMG’s books.

Take Two:  EA walked from its hostile takeover attempt in August, and two weeks ago, walked from the prospect of a friendly deal too.  Now Take Two Interactive, will walk away from sales discussions Click to Read More

Gamestop is billed as the world’s largest video game retailer but until today, they had no footprint in France, Europe’s second largest market.  For $700 million, including debt, that will now change.

Gamestop announced Wednesday they will buy France’s Micromania retail chain from L Capital,  a private equity firm affiliated with LVMH.

The all cash deal will be funded through a combination of cash on hand (the company had $539.9m in Cash and Equivalents as of August 2nd), a $150m term loan from Bank of America and existing lines of credit.

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The takeover attempt was highly public.  From early February to late August, for more than six months, it grabbed headlines.  The private courtship that followed lasted less than a month.

On Sunday, Electronic Arts came out of a self imposed quiet period to announce their private discussions with Take Two were concluded.   At this time, EA said, the companies have decided not to pursue any merger.

Just two weeks ago, there was the slight prospect of otherwise.  Click to Read More

Since being spun off from Clear Channel in 2005, Live Nation’s management has oriented the company toward a path of broad, vertical integration.  Instead of being just an event promoter, they’ve aimed to transform from a narrowly focused promotion business to a comprehensive music services company.  Non-essential (and non-music) assets have been divested.  Ticketing and fan membership services have been acquired.  People and assets have been shifted.  This week, two more steps were taken toward the fulfillment of those goals.

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Dating back to February, Electronic Arts and Take Two were pitted against each other in a very public corporate takeover battle.  For months, the companies issued dueling press releases and went back and forth in SEC filings.  On August 18 that process ended.  Electronic Arts announced they were allowing their Tender Offer to expire.  In reply, Take Two invited the formerly hostile suitor to review documents on a possible path toward a friendly merger. 

Today, the companies filed one last document.  An 8K announcing they’d entered into a new material agreement – one assuring confidentiality in all their future discussions.

The update from the comanies s there will be no more updates. From here on in, and for the near term foreseeable future, the rollercoaster ride of back and forth press releases is officially closed. Silence will be golden.  Click to Read More

The gloves came off today in Electronic Arts protracted hostile takeover effort to acquire Take Two but in a surprise twist, it wasn’t an escalation but rather a move toward a possible handshake and reconciliation.

EA announced they will allow their Tender Offer to expire tonight at midnight as planned.  Take Two, in turn, will include EA in their discussions about “Strategic Alternatives.”    As part of that dialogue, Take Two will provide EA with a formal presentation that includes non public product pipeline and financial projections.

The two companies talking amicably opens the door to the prospect of a possible friendly acquisition.

Timing is everything.

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