New On The Block
Following a review of strategic alternatives initiated earlier this year, Domo, Inc. (NASDAQ:DOMO) said its board has determined that pursuing a strategic transaction is the most effective path to maximize shareholder value.
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The company is currently engaged in advanced discussions regarding a potential transaction.
Domo also recently entered into a forbearance agreement with its lender after failing to comply with the minimum annualized recurring revenue covenant under its credit facility. The agreement provides additional financial flexibility as the company continues its strategic review and pursues a potential transaction.
Updates From The Block
Private equity firm LongRange Capital bought Pizza Hut from Yum! Brands Inc. (NYSE:YUM) for approximately $1.5 billion. The deal excludes Pizza Hut’s China locations, which Yum China will acquire in a separate transaction for $1.2 billion. The deal is expected to close in the third quarter, subject to regulatory approval.
Fox Corp (NASDAQ:FOX) agreed to acquire Roku Inc (NASDAQ:ROKU) in a cash and stock deal valued at approximately $22 billion or $160 per share.
“The combination pairs FOX’s live entertainment, news and sports portfolios, including The Tubi service, the NFL, MLB and FOX News Media, with the top television streaming platform in the U.S. by hours streamed, accelerating the company’s expansion into connected TV advertising,” Fox Business reported.
The transaction is expected to close in the first half of 2027.
Roku founder Anthony Wood will continue working at the company following the merger and will join the Fox board of directors.
Salesforce (NYSE:CRM) is buying Fin, formerly known as Intercom, in a deal valued at approximately $3.6 billion. Once the deal is finalized, Salesforce and Fin plan to offer customers “a range of AI agent solutions, from rapid deployment for smaller organizations to more customized, enterprise-scale integrations.”
The deal is expected to close in the final quarter of Salesforce’s 2027 fiscal year, subject to regulatory approvals.
Simulations Plus, Inc. (NASDAQ:SLP) will be acquired by affiliates of Altaris LLC, an investment firm with a focus on acquiring and building companies in the health care industry, in an all-cash transaction.
Simulations Plus common stockholders will receive $18.50 per share.
The company will remain located in Research Triangle Park, North Carolina.
The transaction is expected to close in the fourth quarter of 2026. Upon completion of the transaction, Simulations Plus will become a privately held subsidiary of Altaris; its common stock will no longer be traded on the Nasdaq.
Canadian fintech company Nuvei agreed to buy U.S. cross-border payments provider Payoneer in an all-cash transaction worth nearly $2.75 billion.
The transaction strengthens Nuvei’s ability to support emerging financial models, including agentic commerce, stablecoin payments and platform-native financial services, the company said.
The transaction is expected to close in mid-2027, subject to approval by Payoneer’s shareholders, receipt of required regulatory approvals, and other customary closing conditions.
Deluxe (NYSE:DLX), a payments and data company, agreed to acquire Celero Commerce, a financial technology company focused on optimized payment solutions for small to mid-sized businesses and strategic partners, for $625 million, plus payment of certain seller transaction expenses and other adjustments.
“Combined, the two companies will broaden our distribution reach and deepen our presence across key verticals, including financial institutions, independent software vendors and independent sales organization partner channels,” said Barry McCarthy, president and CEO of Deluxe. The transaction is expected to close in the third quarter, subject to regulatory approvals.
Francisco Partners, a global investment firm that specializes in partnering with technology and technology-enabled businesses, bought EfficientIP, a global leader in DNS, DHCP and IP Address Management (DDI) and DNS security solutions.
As part of the acquisition, Norman Girard will continue to lead EfficientIP as CEO, and the company’s founders, Jean-Yves Bisiaux, Sylvain Galliano and Ronan David, will reinvest in the business. Financial terms of the transaction were not disclosed.
Flexstone Partners, a global private markets investment manager and an affiliate of Natixis Investment Managers, agreed to acquire Glouston Capital Partners, a private equity secondaries manager. The combined platform will manage more than $15 billion in assets across Primary, Co-Investment, and Secondary strategies, serving institutional investors across North America, Europe and Asia.
Financial terms of the transaction were not disclosed.
Off The Block
Leonard Green & Partners completed the acquisition of Cumming Group, a provider of project management and cost management advisory services, from New Mountain Capital.
Financial terms of the transaction were not disclosed.
Bankruptcy Block
Searles Valley Minerals, a Kansas-based raw materials and mining and production company, filed for Chapter 11 bankruptcy.
The company reported both assets and liabilities between $100 million and $500 million.
In recent years, the company encountered mounting pressures, including heavy capital expenditure needs, higher production costs, and a sustained decline in demand for soda ash, its primary revenue driver. Despite implementing a range of measures to address these headwinds, it was unable to stabilize its financial position.
Washington-based Gebbers Farms has filed for Chapter 11 bankruptcy. The company cited assets between $100 million and $500 million and liabilities of around $225 million, which it owes to nearly 200 creditors.
Following the bankruptcy filing, Legendary Fruit Company announced that it had a letter of intent to acquire all of Gebbers’ assets through a court-supervised sale.
For the previous edition of Deal Dispatch, click here.
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