Deal or no deal? Following earlier reports that Broadcom (AVGO) was close to acquiring Symantec (SYMC), headlines this week suggested the companies were at an impasse with Bloomberg reporting that Broadcom sought to reduce its bid for Symantec by over $1.50 per share from an agreed-upon price of $28.25 per share. Per CNBC, Symantec is unwilling to accept less than $28.00 per share.
Read MoreComing off a holiday-shortened week in which Broadcom (AVGO) was reportedly close to acquiring Symantec (SYMC) for north of $15 billion and subsequently rumored to also be considering a deal for privately-held Tibco, we expected more fireworks this week.
Read MoreIt was a quiet week in software land as the second quarter drew to a close. In the supply chain space, Descartes Systems Group (DSGX) continued to execute upon its M&A strategy, acquiring Switzerland-based STEPcom for $19.6 million in cash.
Read MoreWhereas headlines last week were dominated by large strategic acquisitions, this week saw a couple of companies shedding non-core assets. Business intelligence platform provider MicroStrategy (MSTR) sold its Voice.com domain for $30 million to Block.one, which plans to utilize the domain name to support the launch of a new blockchain-based social medial platform, Voice.
Read MoreIn a quiet week on the earnings front, several strategic M&A transactions dominated the headlines. Following Google’s $2.6 billion of business intelligence provider Looker last week, Salesforce (CRM) entered into an agreement to acquire self-service analytics provider Tableau Software (DATA) in an all-stock deal valuing Tableau at an enterprise value of $15.7 billion, representing a TTM EV/Sales multiple of 13.2x and a FY ’20 EV/Sales multiple of 9.6x based on consensus forecasts at the time of the announcement.
Read More