It’s Friday again, which means another mergers and acquisitions round up. Catch up on the deals that were made this week:
American telecommunications company Verizon is set to acquire AOL for $50 per share, tallying up to $4.4 billion. In a statement, Verizon said that the acquisition will help drive its LTE wireless video and over-the-top video strategy, as well as supporting and connecting to Verizon’s IoT platform.
Lowell McAdam, chairman and CEO of Verizon, said of the acquisition, ““AOL has once again become a digital trailblazer, and we are excited at the prospect of charting a new course together in the digitally connected world. At Verizon, we’ve been strategically investing in emerging technology, including Verizon Digital Media Services and OTT, that taps into the market shift to digital content and advertising. AOL’s advertising model aligns with this approach, and the advertising platform provides a key tool for us to develop future revenue streams.”
Indian travel website HolidayIQ has acquired mobile development agency SourceN to boost its mobile products, with 65 percent of its traffic coming from mobile devices. Hari Nair, CEO and founder of HolidayIQ, said, “The SourceN team’s in-depth understanding of mobile consumer behavior in travel will further strengthen our product and also create a more robust engine enabling easier and seamless sharing of travel reviews, ratings, images, and video on mobile.
Augmented reality development company DAQRI has acquired ARToolworks, which works in camera-based augmented reality. Founded in 2001, ARToolworks is the creator of ARToolkit, the most popular library for AR development. ARToolworks’ team will be joining DAQRI. CEO Ben Vaughan and CTO Philip Lamb will be heading the newly created open source division.
DAQRI’s founder and CEO Brian Mullins said, “When ARToolKit was released, it inspired a whole generation of augmented reality development. For over 15 years, when people entered the space, ARToolKit was one of the first things they picked up, and it helped them learn what AR was all about. We believe that it’s important to have free and open source software at the core of an industry. We’re hoping that with this acquisition, and our commitment to developing ARToolKit in the future, we can kick off the next AR revolution and inspire a whole new generation to pick it up and make things that haven’t been imagined yet.”
Just six months after its launch, Australian community social network Nabo.com has acquired event listing website AroundYou. AroundYou, which partnered with News Limited to promote events in local community newspapers around Australia, receives 300,000 unique visitors a month and features over 20,000 events, spanning entertainment, community activities, and listings to help create new friendships.
Adam Rigby, founder and CEO of Nabo, said the acquisition of AroundYou aligns perfectly with the company’s vision to become a one-stop offering from everything local. He said, “Like Nabo, AroundYou’s positioning is to connect people within their community online and offline. Nabo can now massively expand its events listing for individuals Australia-wide, providing even more reason for local communities and community groups to connect.”
Image: Verizon CEO Lowell McAdam. Credit: Zimbio.