Benzinga's M&A Chatter for Monday June 11, 2012

June 11, 2012 4:55 pm
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The following are the M&A deals, rumors and chatter circulating on Wall Street for Monday June 11, 2012:

Hearing Chatter of Ancestry.com Receiving NDA’s from Private Equity Firms

The Rumor:
Ancestry.com (NASDAQ: ACOM) has received NDA’s from Private Equity firms, according to dealReporter. On June 6, Bloomberg reported the online genealogy company had hired Qatalyst Partners to find a buyer.

A spokesperson for Ancestry.com said they were aware of the rumor, but would not comment.

Ancestry.com closed at $25.99 Monday, a loss of 1.20% on slightly more than average volume.

Mercury Computer Systems to Acquire Micronetics

The Deal:
Mercury Computer Systems (NASDAQ: MRCY) announced Monday that it has signed a definitive agreement to acquire Micronetics (NASDAQ: NOIZ).

Pursuant to the terms of the agreement, Mercury will acquire Micronetics via merger for $14.80 per share. This represents a fully diluted equity value of approximately $71.7 million and an enterprise value of approximately $75.4 million, including $3.7 million of net debt as of March 31, 2012. The acquisition will be funded with available cash and is expected to be immediately accretive to EBITDA. Subject to finalization of purchase accounting, the transaction is also anticipated to be accretive on a GAAP basis within 12 months of the closing date.

Micronetics closed at $14.59 Monday, a gain of 94.79% on 409 times the average daily volume.

Yippy and MuseGlobal to Merge

The Deal:
Yippy (YIPI) reported Monday that the Company entered into an agreement to merge with MuseGlobal.

Yippy.com is an award-winning deep research engine developed out of Carnegie Mellon University. The programs were acquired by Yippy in May 2010 from Vivisimo, an industry leading Enterprise Search company that was recently acquired (May 2012) by International Business Machines. In conjunction with the purchase of the search engine software, Yippy acquired from Vivisimo/IBM a transferable, unlimited lifetime perpetual license for the software known as Velocity for web-based search applications. IBM currently holds a 10% stake in Yippy, Inc.

Yippy closed at $1.86 on Monday, a gain of 57.63% on 6 times the average daily volume.

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