Market Overview

Benzinga's M&A Chatter for Thursday January 23, 2014

The following are the M&A deals, rumors and chatter circulating on Wall Street for Thursday January 23, 2014:

AOL to Acquire Gravity for Approximately $83M

The Deal:
AOL (NYSE: AOL) announced Thursday it has agreed to acquire multi-screen content optimization and personalization company Gravity, for approximately $83 million, plus additional consideration. The deal is expected to close in Q1 2014.

AOL closed Thursday at $48.51, a loss of 1.5%.

Lenovo to Acquire IBM's x86 Server Business for $2.3B in Cash, Stock Deal

The Deal:
Lenovo (OTC: LNVGY) and IBM (NYSE: IBM) have entered into a definitive agreement in which Lenovo plans to acquire IBM's x86 server business for $2.3 billion, including two billion in cash and the balance in Lenovo shares.

Included in the deal are System x, BladeCenter and Flex System blade servers and switches, x86-based Flex integrated systems, NeXtScale and iDataPlex servers and associated software, blade networking and maintenance operations.

IBM closed Thursday at $182.73, a gain of $0.48.

Report of No Buyer Interest in Riverbed

The Rumor:
Shares of Riverbed Technology (NASDAQ: RVBD) spiked lower Thursday on a report from Deal Reporter that there is no real interest from potential buyers for the company, according to sources.

Riverbed formally rejected a $19 per share offer from investor Elliott Management on January 15, saying it undervalued the company. Analysts had said Riverbed could fetch as much as $25 per share.

Riverbed Technology closed Thursday at $20.01, a loss of 4%.

Qualcomm Acquires Palm, IPAQ and Bitfone Patent Portfolio from HP

The Deal:
Qualcomm (NASDAQ: QCOM) and Hewlett-Packard (NYSE: HPQ) announced Thursday that Qualcomm has acquired a patent portfolio from Hewlett-Packard Company, Hewlett-Packard Development Co LP and Palm Inc. The portfolio includes 1,400 granted patents, pending patent applications from the US and approximately 1,000 granted patents and pending patent applications from other countries. The patents cover technologies that include fundamental mobile operating system techniques. The purchase price was not disclosed.

Qualcomm closed Thursday at $75.87, and rose another $.03 after-hours. Hewlett-Packard closed at $29.37, trading as high as $29.80 after-hours.

Posted-In: News Rumors Asset Sales M&A After-Hours Center Movers

 

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