Godrej Process Equipment Acquires Yuba and Ecolaire Brands From SPX Heat Transfer, USA

Business

Godrej Process Equipment, a business unit of Godrej & Boyce Mfg. Co. Ltd., has acquired the Yuba and Ecolaire brands and design technologies from SPX Heat Transfer, a subsidiary of SPX Corporation, USA, a global supplier of highly engineered products and technologies. With this strategic acquisition, Godrej has the capability to provide end-to-end solutions in the Heat Exchanger Auxiliaries space in the Power Sector.

In the past, Godrej had a license to manufacture Yuba design Feedwater Heaters. Feedwater Heaters manufactured by Godrej have been supplied to NPCIL, Tata Power, GSECL, NTPC, Toshiba, among others. With this acquisition, Godrej now owns the brands and the technology and will be manufacturing in India.

This acquisition positions Godrej Process Equipment as a significant player in the Power sector; an independent, global player providing critical equipment to thermal, geothermal, solar and nuclear power plants. Addition of key people from the SPX Heat Transfer design team will also significantly enhance Godrej’s design capabilities in this space.

Emphasizing on the importance of this acquisition, Mr. Jamshyd Godrej, Chairman and Managing Director, Godrej & Boyce stated, “The acquisition of well-known brands and technology from SPX Corporation for our Process Equipment business showcases our commitment to deepen the products that we offer to the power generation sector. We are constantly developing and rationalizing strategic partnerships across our businesses. Through this acquisition, we plan to establish Godrej & Boyce as a prominent player providing top-notch services and cutting-edge technological products in the power generation sector.”

Adding to this, Mr. Allen Antao, Executive Vice President and Business Head, Godrej Process Equipment said, “Godrej’s strong thrust on manufacturing excellence when coupled with the strength of the brands, will enable us to offer our customers, products of significantly enhanced value while at the same time maintain a distinct competitive edge. We have the opportunity to exploit this new potential to expand our presence globally in the Power Sector. We are a leading global supplier of Pressure Vessels for the Oil & Gas Sector and the addition of the Yuba and Ecolaire brands will also cement this position in the Power Sector worldwide.”

PepsiCo Enters Into Agreement To Acquire SodaStream International Ltd.

Business

PepsiCo, Inc. (NASDAQ: PEP) (“PepsiCo”) and SodaStream International Ltd. (NASDAQ / TLV: SODA) (“SodaStream”) today announced that they have entered into an agreement under which PepsiCo has agreed to acquire all outstanding shares of SodaStream for $144.00 per share in cash, which represents a 32% premium to the 30-day volume weighted average price.

“PepsiCo and SodaStream are an inspired match,” said PepsiCo Chairman and CEO Indra Nooyi. “Daniel and his leadership team have built an extraordinary company that is offering consumers the ability to make great-tasting beverages while reducing the amount of waste generated. That focus is well-aligned with Performance with Purpose, our philosophy of making more nutritious products while limiting our environmental footprint. Together, we can advance our shared vision of a healthier, more-sustainable planet.”

Daniel Birnbaum, SodaStream CEO and Director said, “Today marks an important milestone in the SodaStream journey. It is validation of our mission to bring healthy, convenient and environmentally friendly beverage solutions to consumers around the world. We are honored to be chosen as PepsiCo’s beachhead for at home preparation to empower consumers around the world with additional choices. I am excited our team will have access to PepsiCo’s vast capabilities and resources to take us to the next level. This is great news for our consumers, employees and retail partners worldwide.”

PepsiCo’s strong distribution capabilities, global reach, R&D, design and marketing expertise, combined with SodaStream’s differentiated and unique product range will position SodaStream for further expansion and breakthrough innovation.

The transaction is another step in PepsiCo’s Performance with Purpose journey, promoting health and wellness through environmentally friendly, cost-effective and fun-to-use beverage solutions.

“SodaStream is highly complementary and incremental to our business, adding to our growing water portfolio, while catalyzing our ability to offer personalized in-home beverage solutions around the world,” said Ramon Laguarta, CEO-Elect and President, PepsiCo. “From breakthrough innovations like Drinkfinity to beverage dispensing technologies like Spire for foodservice and Aquafina water stations for workplaces and colleges, PepsiCo is finding new ways to reach consumers beyond the bottle, and today’s announcement is fully in line with that strategy.”

Under the terms of the agreement between PepsiCo and SodaStream, PepsiCo has agreed to acquire all of the outstanding shares of SodaStream International Ltd. for $144.00 per share, in a transaction valued at $3.2 billion. The transaction will be funded with PepsiCo’s cash on hand.

The acquisition has been unanimously approved by the Boards of Directors of both companies. The transaction is subject to a SodaStream shareholder vote, certain regulatory approvals and other customary conditions, and closing is expected by January 2019.

Goldman Sachs acted as financial advisor to PepsiCo in this transaction. Centerview also acted as financial advisor to PepsiCo in the transaction. Gibson, Dunn & Crutcher LLP acted as lead counsel to PepsiCo, Davis Polk & Wardwell LLP as U.S. tax counsel, and Herzog, Fox & Ne’eman as Israeli legal counsel. Perella Weinberg Partners acted as financial advisor to SodaStream with White & Case LLP acting as SodaStream’s U.S. legal counsel and Meitar Liquornik Geva Lesham Tal as Israeli legal counsel.

21st Century Fox Confirms Receipt of Unsolicited Acquisition Proposal from Comcast

Business

NEW YORK, – Twenty-First Century Fox, Inc. (“21st Century Fox”) (NASDAQ: FOXA, FOX) today confirmed it has received an unsolicited, written proposal from Comcast to acquire the same businesses that 21st Century Fox previously agreed to sell to The Walt Disney Company (“Disney”) (NYSE: DIS), including the Twentieth Century Fox Film and Television studios, along with cable and international TV businesses.  As with 21st Century Fox’s pending transaction with Disney announced in December 2017 (the “Disney Merger Agreement”), Comcast’s proposal contemplates that prior to the acquisition, 21st Century Fox will separate the Fox Broadcasting network and stations, Fox News Channel, Fox Business Network, FOX Sports, FS1, FS2 and Big Ten Network into a newly listed company that will be spun off to its shareholders (“new Fox”).  Comcast has proposed an all-cash transaction at $35.00 per 21st Century Fox share.

21st Century Fox remains subject to the Disney Merger Agreement. Consistent with the terms of this agreement and the fiduciary duties of the Company’s directors, 21st Century Fox’s Board, in consultation with its outside legal counsel and financial advisors, will carefully review and consider the Comcast proposal.

21st Century Fox has not yet made a determination, in light of Comcast’s proposal, as to whether it will postpone or adjourn the July 10, 2018 special meeting of stockholders to consider certain proposals related to the Disney Merger Agreement.

Context Labs Acquires IoT ImpactLABS

Business

Company will integrate IoT ImpactLABS expertise into its core blockchain-based offerings to accelerate the ‘Supply Chain of Everything’

 

Context Labs (CXL) announced today that it has acquired IoT ImpactLABS. The acquisition will further accelerate CXL’s blockchain-based Immutably™ platform in its movement upstream in the supply chain, enabling the “Supply Chain of Everything.” The acquisition will accelerate integration with IoT-connected devices, sensors and systems.

In practical terms, this means that supply chains for perishable goods such as food can be tracked from field to table, water from source to tap, device firmware from burn-in to upgrade and climate data from sensor to research to analytics. Context Labs has coined this physical/digital/virtual blockchain-enabled environment the “Supply Chain of Everything.”

“This key functionality will further provide what the industry has coined the ‘birth certificate’ or ‘passport’ of physical things to be cryptographically encoded and tracked, from the point of inception through its end of life,” stated Dan Harple, CEO of Context Labs. “The IoT ImpactLABS acquisition strengthens our ProofWorks™ and Immutably™ platform to deeply enhance IoT/Blockchain integration, providing proof of the ‘birth certificates’ of things and data. It creates a verifiable proof of existence for the data or physical thing pinned to a particular point in time, with a ‘context proof’ in the interconnected network graph of supply chain partners.”

The proofs and the signatures are registered on one or more public ledgers or published on widely available media channels such as Twitter, Facebook, etc. Context Labs’ Scrivener Ledger provides interoperability between multi-ledger registrations, insuring multi-layered secure veracity and provenance.

Commenting on the impact of the deal on the supply chain landscape, Bill McBeath, chief research officer at Chainlink Research, commented, “With the cost of sensors and connectivity continuing to plummet, IoT-enabled supply chains are poised for wide adoption across myriad applications such as traceability (for provenance assurance, anti-counterfeiting, regulatory, etc.), predictive maintenance, freshness/expiration, environmental monitoring, precise ETA, cargo security and much more. Combining blockchain and network graph analysis with IoT-enabled supply chains provides very high confidence in the transactions and highly granular tamper-proof visibility data. The addition of ImpactLabs to Context Labs’ already substantial portfolio makes them a leading player with a unique combination of capabilities in this area.”

In an era of fake data, fake news and counterfeit/copied products, CXL’s Immutably™ product line was designed to insure authenticity, provenance and reliability in the delivery of physical, digital and virtual goods. With this reality, customers increasingly seek to provide regulatory and legal certification specifying the provenance and authenticity of their products. The acquisition serves to drive authenticity and provenance further upstream into supply chains, making it even harder for fake data, fake news and counterfeit products to reach their targets.

Chris Rezendes, founder and managing director of IoT ImpactLABS, stated, “The combination of our market-making and thought leadership with the core platform innovation from Context Labs is what our stakeholders have sought.  The IoT ImpactLABS team has built significant, relevant experience with what works, and does not, in IoT specifically, and a related collection of digital tools more broadly. Through our focus on natural resources, smart cities, resilient infrastructure, food security and SMB Industry 4.0, we have developed a unique ability to identify and access a number of complex opportunities.”

“With this deal, Context Labs is accelerating its platform to provide a device-agnostic Internet of Things (IoT) API layer to deliver a seamless ‘plug and play’ for a wide range of IoT devices, sensors, embedded systems and instrumentation. This innovation in IoT interoperability is a key differentiator for our Immutably™, Proofworks™ and Impact Analytics™ product line, giving customers what they have requested – the ability to identify, track and trace upstream IoT and sensor data into our supply chain platform,” stated Gavin Nicol, CTO of Context Labs.

The world is in transition from centralized to decentralized structures. This relates to areas such as energy (e.g., distributed renewables), mobility (e.g., distributed ownership), land management (e.g., distributed finance) as well as currencies and markets in general. This trend affects all industries and it requires fundamentally new approaches (bottom-up rather than top-down) for industry and government. The private sector increasingly gets the message. The Context Labs product family has its core DNA in these transformative and disruptive technologies.

Commenting on the acquisition, Rob van Kranenburg, founder of the IOT Council and Chair of AC4, Hyper Connected Society, The European Research Cluster on the Internet of Things, stated, “The Context Labs combination with IoT ImpactLABS impacts the direction of a world in which every object will have a Digital Twin. As we build the ecosystem of digital twins, we best pay the utmost attention as we only get one chance of doing it in the most transparent and attested way. The Digital Twin may be a concept currently tied to Industrial IoT, but we are moving to a place that is more mainstream.  Context Labs is leading a major step in this direction.”

About Context Labs

Context Labs, with offices in Cambridge, Massachusetts, and Amsterdam, The Netherlands, provides enterprise-grade platform solutions that provide trust and transparency for all things digital and physical. We develop solutions that utilize blockchain technology to build confidence and trust with partners and consumers, transforming supply chain ecosystems. The company achieves this by delivering platform innovation integrating secure distributed and shared ledgers (Blockchain), network graph analytics and visualizations, machine learning, data interoperability and trusted identity management.  The platform consists of several core components – Chainplate Foundation™, Snapshackle Interoperability™ and VUEgraph Analytics™ and product solutions – Immutably™, Proofworks™, Impact Analytics™, along with blockchain ecosystem consulting. Enabling the Supply Chain of Everything.

Web: www.contextlabs.comwww.proofworks.iowww.contextlabs.com/overview

twitter: @contextlabsbv                

E-mail: press@contextlabs.com

About IoT Impact Labs

ImpactLABS brings together early-stage IoT companies, tech and industry leaders, small and mid-sized enterprises and subject matter experts to instrument the physical world with intelligence and intention for profit and resilience. The company is a proof point production plant, providing live-pilot early-stage IoT solutions with Fortune 500 technology and industry partners in the field with real-world innovators in small and mid-sized enterprises.

9 Story Media Group Acquires Out of the Blue Enterprises

Business

9 Story Media Group is pleased to announce that it has acquired Out of the Blue Enterprises, a leader in children’s media across content creation, TV production, digital applications and consumer products. Founded in 2005 by Blue’s Clues co-creator Angela Santomero and former Nickelodeon executive Samantha Freeman, Out of the Blue is best known for the Emmy-nominated literacy series Super WHY; the Mister Rogers Neighborhood inspired Daniel Tiger’s Neighborhood; and the interactive art adventure program Creative Galaxy for Amazon Studios. Out of the Blue also owns the legacy toy brand Colorforms, named by Time Magazine as one of the 100 Greatest Toys of All-Time, and the company is in production on a new animated series based on the classic brand. Terms of the transaction were not disclosed.

Out of the Blue, based in New York City, will become a wholly owned subsidiary of 9 Story Media Group with Managing Director Samantha Freeman staying on to lead the company and Co-Founder Angela Santomero continuing to serve as Creator and Executive Producer.

9 Story and Out of the Blue have previously worked together on the hit animated series Daniel Tiger’sNeighborhood, which 9 Story produces and distributes internationally with The Fred Rogers Company in association with Out of the Blue. The two companies have also worked together on Creative Galaxy for Amazon Studios, which Out of the Blue produces and 9 Story is the animation partner. Both series are currently in production on new seasons.

Known for its full-scale production and international distribution capabilities, 9 Story Media Group employs almost 600 staff with facilities in TorontoDublin and Manchester. Its award winning animation studio, Brown Bag Films, is recognized around the world for hit children’s series such as Doc McStuffinsDaniel Tiger’s NeighborhoodTop WingOctonauts and The Magic School Bus: Rides Again. Out of the Blue is known for its in-house, award winning creative and full service management of licensing and merchandising.

Vince Commisso, President & CEO of 9 Story Media Group, said: “Having worked with Angela and Samantha on Daniel Tiger’s Neighborhood and Creative Galaxy, we have tremendous respect for their creative capabilities. Out of the Blue has a proven track record in developing unique and beloved brands for a preschool audience. Joining forces broadens our development capabilities, increases our consumer products reach and extends our presence in the U.S. We look forward to working with the entire Out of the Blue team and are absolutely thrilled to welcome them into the 9 Story Media Group family.”

Angela Santomero said, “We have enjoyed working closely with 9 Story over the past decade, producing uniquely engaging entertainment offerings for preschoolers that also serve as valuable resources for parents, caregivers and teachers.”  Samantha Freeman added, “We are excited to join 9 Story’s expanding media platform and look forward to creating, producing and licensing current and new preschool properties together.”

About 9 Story Media Group
9 Story Media Group is a leading creator, producer and distributor of kids and family focused intellectual property. Its award-winning animation studio, Brown Bag Films, is recognized around the world for best-in-class brands such as Doc McStuffinsDaniel Tiger’s NeighbourhoodOctonautsWild KrattsPeter Rabbit and The Magic School Bus: Rides Again.  The company’s international distribution arm, 9 Story Distribution International, represents 2,700 half-hours of animated and live-action programming, seen on some of the most respected international channels and platforms. With facilities in TorontoDublinManchester, the 9 Story Media group of companies employ almost 600 creative and corporate staff.
www.9story.com

About Out of the Blue Enterprises
Out of the Blue Enterprises is a leader in children’s educational media, with a portfolio of breakthrough, interactive and multi-platform, educational entertainment for television, video, mobile apps and consumer products.  Out of the Blue creates and produces Super WHY, the Emmy-nominated literacy series on PBS Kids; Daniel Tiger’s Neighborhood, for The Fred Rogers Co/PBS Kids; Wishenpoof and Creative Galaxy for Amazon Studios; and Nickelodeon’s Blue’s Room.  Out of the Blue also develops top-rated mobile educational game apps, including Super WHY and Colorforms, and handles all licensing and merchandising activity for Super WHYDaniel Tiger’s Neighborhood and the Colorforms brand, which was acquired in 2014.  Led by Co-Founders Angela C. Santomero, Creator of the hit preschool entertainment franchise, Blue’s Clues; and Samantha Freeman, a former Nickelodeon and toy industry executive, Out of the Blue aims to engage kids and families with age-appropriate, entertaining and engaging learning experiences. www.outoftheblueenterprises.com

Etix Announces Acquisition of Interactive Ticketing

Business, Technology

This is the third growth acquisition for the North Carolina based ticketing company since August

Etix, an international ticketing solutions provider with more than 55 million tickets sold in over 40 countries each year, announced today the growth acquisition of ticketing software company, Interactive Ticketing.  The acquisition follows October’s announcement of the purchase of ExtremeTix and TicketBiscuit.

“Interactive Ticketing was the next step in our plans for growing the company,” says CEO and founder Travis Janovich.  “We are excited to welcome Interactive Ticketing’s client base and employees to the Etix family and look forward to continuing the exceptional level of service that their clients are used to,” adds Paxton Badham, Etix’s President.

Based in Seattle, WashingtonInteractive Ticketing has built a boutique ticketing system around state-of-the-art marketing tools, reporting features and wireless capabilities drawing a strong client base in amusement parks, consumer shows, fairs, expos and more.  Interactive Ticketing was advised by ASG Partners in the transaction.

“We’re excited to end the year with Travis and Paxton and their great team,” shares Interactive Ticketing CEO and President David Arevalo. “Terry and I founded the company with the principle of making it as simple as possible to sell tickets online.  The ticketing industry has changed a lot since 1999 and Etix has been leading the way – continuously adding and updating features. ”

Terry Howisey, Interactive Ticketing’s cofounder and CFO added, “We feel fortunate to be able to give our clients access to new tools and technology that will help them sell more tickets in 2018 and beyond.”

For more than a decade, Etix has been the top independent ticketing company for state and county fairs, museums, music clubs, festivals, casinos and more.  Their scalable, feature-rich platform nicely matches the needs of Interactive Ticketing’s stellar roster of clients.

2017 has been a banner year for Etix thanks to three growth acquisitions, continued organic growth and key staff additions.  It’s an exciting time for Etix and the ticketing industry.  Janovich plans to carry this momentum into 2018 with goals for continued growth and expansive technology development.

“We’ve been proud to be an industry leader for nearly 20 years; continuously developing new tools and pioneering new concepts.  We are fortunate to be positioned to expand and are poised for even more growth.”

About Etix
Founded in 2000, Etix is an international, web-based ticketing service provider, processing more than 55 million tickets per year in 40 countries. As the largest independent ticketing company in North America, Etix provides flexible and secure ticketing solutions, digital marketing services, and robust e-commerce fulfillment for over 17 years. Etix is proud to work with 1,800 venues, including theaters, arenas, music clubs, festivals, fairs, performing arts centers, casinos and more. Headquartered in Morrisville, NC, Etix has offices in Houston, TXBirmingham, ALAustriaChinaGermanyHolland and Japan, as well as a full-service digital marketing agency in Morrisville, NC.