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Google’s $32B Wiz Deal: A Catalyst for Cybersecurity & IPO Surge?

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Google’s landmark $32 billion acquisition of Israeli cybersecurity startup Wiz could mark a turning point for the sluggish IPO and M&A markets. The deal, announced Tuesday, is Google’s largest-ever acquisition and follows a previously failed $23 billion bid. While IPO activity has slowed since 2021, signs of a resurgence are emerging. SailPoint went public in February, CoreWeave has filed for a $2.7 billion IPO, and StubHub has also entered the IPO race. The Wiz acquisition could further fuel momentum in both mergers and public listings, particularly in cybersecurity—an industry primed for growth as companies ramp up protection against AI-driven cyber threats. Cybersecurity: The Hotspot for Investment As businesses migrate to the cloud and AI-powered hacking grows more sophisticated, cybersecurity remains a high-priority investment. Analysts from CB Insights rank it among the top acquisition targets for 2025. “For Google, the Wiz deal strengthens its cloud security capabilities,” said Merritt Maxim, VP at Forrester. “It could also pressure Amazon (AWS) to make a competing move—perhaps acquiring Aqua Security, Orca Security, or Sysdig.” Neil Barlow, a private equity M&A expert at Clifford Chance, highlighted cybersecurity’s resilience. “Cyberattacks can cripple entire businesses. This sector is not just an investment—it’s a necessity.” What’s Next for IPOs? While Wiz’s acquisition may delay IPO plans for some cybersecurity firms, experts predict a surge in the second half of 2025. Potential IPO candidates include Proofpoint, Illumio, Netskope, and Snyk—all major players in cloud and data security. Netskope, founded in 2012, is under growing pressure from early investors seeking liquidity, while Snyk, last valued at $7.4 billion, has hinted at a 2025 public debut. “The big question is whether companies will seize the moment or wait out market volatility,” said Brianne Lynch, head of market insight at EquityZen. With Google’s Wiz buyout shaking up the industry, the cybersecurity sector—and broader tech market—could be on the verge of a new investment boom. Source: CNBC

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Amex GBT Amends Merger Agreement for CWT Acquisition

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American Express Global Business Travel (Amex GBT), operated by Global Business Travel Group, Inc. (NYSE: GBTG), has announced an amendment to its merger agreement with CWT. The original agreement, signed on March 24, 2024, has undergone multiple revisions, with the latest amendment finalized on March 20, 2025. Key updates include: Revised Valuation: The transaction value has been adjusted to approximately $540 million (down from $570 million), maintaining the previously announced EBITDA multiples of 7.6x pre-synergy and 2.5x post-synergy. Stock Price Adjustment: The fixed stock price for Amex GBT shares in the transaction has increased to $7.50 per share (from $6.00), reducing the number of shares issued from 72 million to approximately 50 million. Extended Deadline: The “Drop Dead Date” for completion has been moved to December 31, 2025, allowing additional time to resolve an ongoing lawsuit filed by the U.S. Department of Justice (DOJ) seeking to block the merger. Eric J. Bock, Amex GBT’s Chief Legal Officer and Global Head of M&A, reaffirmed confidence in the deal and the company’s ability to defend its position in court. He also emphasized Amex GBT’s strong financial position, bolstered by a $300 million share buyback program. The acquisition remains subject to regulatory approvals and customary closing conditions. About Amex GBT: Amex GBT is a leading software and services company specializing in travel, expense management, and meetings & events. Operating in over 140 countries, the company delivers cost-effective and flexible travel solutions to businesses worldwide. For more information, visit amexglobalbusinesstravel.com and follow @amexgbt on LinkedIn, Instagram, and X (formerly Twitter). Source: Business Wire

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Sports Mergers & Acquisitions Surge 44% in 2024, Driven by Private Equity

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The sports industry witnessed a record-breaking year for mergers and acquisitions (M&A) in 2024, with deal activity rising 44% compared to 2023, according to a report by financial advisory firm Oaklins. The surge was fueled by private equity (PE) investments, growing fan engagement, and the rise of sports technology. A total of 410 transactions were recorded last year, with private equity accounting for 45% of these deals. The number of PE-backed acquisitions nearly doubled, from 96 in 2023 to 190 in 2024. Key Highlights: NFL teams enter private equity space: The Buffalo Bills and Miami Dolphins made history by selling 10% stakes to Arctos Partners and Ares Management, respectively. Inter Milan takeover: Oaktree Capital Management gained control of the Italian Serie A champions. Premier League acquisition: Everton was purchased by Roundhouse Capital, a division of The Friedkin Group (TFG), in a deal worth over £400 million ($513 million). Niche sports boom: Sports like padel and pickleball saw increased private equity interest in 2024. Sports tech investments rise: Notable deals included Tiga Investments’ acquisition of Dream Sports and DraftKings’ purchase of Simplebet, reflecting the demand for digital sports solutions. Oaklins emphasized that sports franchises and leagues are increasingly viewed as stable, high-value assets, benefiting from media rights, commercial deals, and predictable revenue streams. Looking ahead to 2025, M&A activity is expected to remain strong, with media rights, fan engagement, and private equity interest continuing to drive deals. A robust pipeline of premium sports businesses entering the market suggests the sector will remain highly attractive to investors. Source: Sports. cm

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DH Advisory Joins Eight International to Strengthen M&A Advisory in the Middle East

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UAE-based DH Advisory has joined Eight International, a global network of consultancy firms specializing in corporate advisory, financial services, and M&A. This partnership will enhance DH Advisory’s ability to support Middle Eastern clients while providing access to an international network of deal professionals. Operating from Dubai, DH Advisory focuses on buy-side and sell-side deal mandates for corporates, family businesses, and financial sponsors. Its team has a strong track record, having completed over 500 M&A transactions, with many professionals previously working at Big Four firms. Declan Hayes, Founder and Managing Partner at DH Advisory, expressed enthusiasm about the collaboration, stating, “Joining Eight International will allow us to better serve our Middle East clients by providing access to world-class deal professionals and a broader deal flow.” As part of the affiliation, Eight International clients seeking Middle Eastern opportunities will be connected with DH Advisory, while DH Advisory clients aiming for cross-border transactions will receive support from Eight International’s global members. Founded in 2016, Eight International now boasts 3,600 professionals across 15 countries, specializing in strategy, restructuring, forensic litigation, and M&A. Pascal Raidron, President of Eight International, welcomed DH Advisory, noting, “Their expertise strengthens our capabilities and allows us to strategically support businesses in the Middle East.” The announcement follows Eight International’s recent expansion into Oceania through the addition of McGrathNicol (350 staff) and comes a year after Eight Advisory’s acquisition in France. Source: consultancy.com

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Aprirose Sells London Hotel; LA Hotel Rebrands; Marriott Expands in EMEA

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London-based Aprirose has sold the 30-key Karma Sanctum hotel in Soho to Madrid-based Tenigla for £22 million. The rock-and-roll-themed hotel, acquired by Aprirose in 2021, is part of the company’s evolving U.K. acquisition strategy. Meanwhile, in Los Angeles, the Lum Hotel Los Angeles Stadium District is set for a transformation. The 179-key hotel, owned by San Francisco-based Chartres Lodging Group and managed by PM Hotel Group, will be rebranded as a Tapestry by Hilton property. Renovations are expected to be completed by late 2025. Marriott International continues its rapid growth in Europe, the Middle East, and Africa (EMEA), securing a record-breaking 291 deals, adding over 34,000 rooms in 2024. The company expanded into three new markets—Luxembourg, Angola, and Senegal—bringing its EMEA pipeline to 596 properties with 104,731 rooms, a 10% increase from the previous year. Conversions accounted for 45% of new signings, highlighting Marriott’s strategic expansion. Manchester City is also entering the hospitality space in collaboration with Radisson Hotel Group. The Premier League club will open The Medlock, a 401-key hotel adjacent to its stadium, by late 2026. In the Philippines, SM Hotels and Convention Corp. (SMHCC), a unit of SM Prime Holdings Inc., reported double-digit occupancy growth amid rising travel and MICE (Meetings, Incentives, Conferences, and Exhibitions) demand. The company is investing P15 billion in a five-year expansion plan, adding eight hotels and two convention centers in key locations. Source: hotelinvestmenttoday

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Tata Play and Airtel Digital TV Set to Merge, Creating India’s Largest Pay-TV Entity

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The Tata and Bharti groups are finalizing a merger between their direct-to-home (DTH) businesses, Tata Play and Airtel Digital TV, in a strategic move to consolidate their positions amid a shrinking pay-TV market. Merger Details and Ownership Structure The merger will be executed through a share swap, with Airtel expected to hold a majority stake of 52-55% in the combined entity, while Tata Play’s shareholders, including Walt Disney, will own 45-48%. This deal is set to enhance Airtel’s non-mobile revenues by reinforcing its ‘triple play’ strategy, which integrates telecom, broadband, and DTH services. Tata Play, formerly Tata Sky, was initially a joint venture with Rupert Murdoch’s News Corp, with Walt Disney acquiring News Corp’s stake in 2019 after purchasing 21st Century Fox. Airtel Digital TV, operated under Bharti Telemedia Ltd, is a wholly owned subsidiary of Bharti Airtel. Market Impact and Subscriber Base The merger will provide Airtel access to Tata Play’s 19 million subscriber homes, creating a combined entity with 35 million paid subscribers as of September 2024 and revenue exceeding ₹7,000 crore in FY24. Additionally, Tata Play’s broadband arm has 500,000 customers, offering cross-selling opportunities. Both companies are expected to sign a heads of terms agreement soon, after which due diligence will begin. The operations of both firms are valued at approximately ₹6,000-7,000 crore each. While Airtel’s senior management is likely to oversee the new entity, Tata is negotiating for two board seats. Industry Trends and Competitive Landscape This deal follows a decade after the Dish TV-Videocon d2h merger and aligns with broader industry shifts, such as Reliance Industries and Walt Disney merging Star India and Viacom18 to form JioStar. The pay-TV sector has contracted significantly, with subscriber numbers falling from 120 million to 84 million homes in recent years due to competition from OTT platforms and DD Free Dish’s free DTH service. A TRAI report from September 2024 indicates that pay DTH subscribers have declined to 60 million from 70 million in FY21. Analysts believe Airtel aims to convert Tata Play’s top 5 million DTH subscribers into broadband customers to boost average revenue per user (ARPU). Regulatory Challenges and Financial Liabilities The merger faces regulatory scrutiny, particularly due to pending licence fee disputes. Bharti Telemedia has a potential liability of ₹5,580 crore, with provisions of ₹3,426 crore made as of March 31, 2024. Tata Play also faces a consolidated licence fee demand of ₹3,628 crore, including ₹1,401.66 crore in interest. Future Outlook Despite the pay-TV sector’s decline, the merged entity is poised to become India’s largest pay-TV provider, leveraging bundled services and broadband integration to drive future growth. Source: Social Samosa

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China’s M&A Market Rebounds Amid Stimulus Measures and Trump Tariff Pressure

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China’s mergers and acquisitions (M&A) market is witnessing a resurgence after years of decline, driven by government stimulus measures and mounting pressure from U.S. tariffs imposed by former President Donald Trump. After five consecutive years of declining deal volume, China’s M&A activity surged in the final quarter of 2024, with deal value rising by 78.5% to $129 billion from the previous quarter’s $72 billion, according to Dealogic. Industry experts attribute this uptick to stimulus policies introduced in September 2024, aimed at consolidating domestic industries and strengthening China’s economic competitiveness. Despite this positive momentum, China’s total M&A deal value in 2024 remained nearly 45% lower than in 2020, when it reached $553 billion. Economic slowdown and cautious corporate strategies have contributed to a conservative investment approach in recent years, said Theodore Shou, chief investment officer at Skybound Capital. However, experts predict 2025 will bring a major shift, with increased M&A activity as Chinese firms adapt to fresh tariff challenges. Trump’s new 10% tariffs on Chinese goods, effective from February 4, have compounded existing levies of up to 25%. This has intensified the need for companies to diversify supply chains and seek strategic mergers to maintain global market relevance. Deloitte’s APAC M&A Services Leader, Stanley Lah, noted that consolidation is the fastest way for businesses to restructure amid trade pressures. Smaller enterprises, in particular, are feeling the strain, as indicated by a 4.8% drop in their revenue in Q3 2024, per Peking University’s Centre for Enterprise Research. With increasing deal activity and evolving trade dynamics, 2025 is poised to be a crucial year for China’s corporate landscape. Source: CNBC

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Companies News Today Highlights – February 10, 2025: Nykaa to Strengthen Beauty Business for Growth

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Stay updated with the latest corporate developments shaping industries and markets globally. Today’s key highlights include Nykaa’s strategic focus on expanding its beauty segment to enhance customer acquisition. The company plans to continue investing in its core beauty business to drive growth and strengthen its market position. This section provides in-depth insights into financial performances, mergers, acquisitions, and leadership changes impacting businesses across various sectors. Whether you’re an investor, business professional, or market enthusiast, our coverage brings you critical updates to help navigate the evolving economic landscape. From emerging startups to established market leaders, we deliver news that matters—helping you stay ahead in an ever-changing corporate world. Source: Business Standard

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Budget 2025-26 Tightens M&A Loss Carry-Forward, Promises Faster Mergers

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The Union Budget 2025-26 has introduced a significant change in the treatment of carry-forward losses in mergers and acquisitions (M&As), restricting them to the residual period from the date of loss rather than the merger date. Effective from April 1, 2025, this move aims to prevent the evergreen extension of losses and aligns M&A taxation with demerger regulations. Experts believe this will make mergers less attractive, particularly for insolvency and bankruptcy cases where loss utilization is a key factor in valuation. “This restriction limits the benefit acquirers can derive from losses, potentially impacting the auction value of distressed assets,” said Amrish Shah, Partner, Deloitte India. Abhishek Mundada, Partner at Dhruva Advisors, explained that the losses will be restricted to the eight-year period from when they were first computed for the original entity, preventing perpetual rollovers. Despite this curtailment, Finance Minister Nirmala Sitharaman has promised reforms to streamline merger procedures, reducing bureaucratic delays that currently stretch timelines to over a year for listed companies. The National Company Law Tribunal (NCLT) process has been identified as a major bottleneck, and the Budget hints at easing these restrictions, though specific details are awaited. Industry leaders welcome the proposed changes to fast-track mergers, particularly for small companies and intra-group restructuring. “Relaxations in fast-track provisions will significantly reduce compliance burdens and processing time,” said Anish Shah, Partner, BDO India. While tax experts are closely watching the impact of these reforms, reducing merger timelines is expected to facilitate corporate restructuring and encourage foreign investment. Source: Business Standard

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Sophos Completes $859M Acquisition of Secureworks, Expanding Cybersecurity Dominance

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Thoma Bravo-backed cybersecurity firm Sophos has finalized its $859 million all-cash acquisition of Secureworks, further consolidating its position as the largest pure-play managed detection and response (MDR) provider globally. With this acquisition, Sophos now serves 28,000 organizations worldwide and strengthens its threat intelligence division, Sophos X-Ops, integrating Secureworks’ Counter Threat Unit and security advisory services. Key Takeaways: Industry Impact: The deal reinforces Sophos’ leadership in the growing cyber threat detection market. Strategic Expansion: Secureworks’ intelligence assets enhance Sophos X-Ops’ cybersecurity capabilities. Future Operations: Both brands will continue operating independently for now. Cybersecurity M&A Surge: The move follows a series of security acquisitions, including Tenable’s $150M buyout of Vulcan Cyber. Sophos CEO Joe Levy highlighted that the merger will deliver an advanced security operations platform, enabling businesses to enhance threat detection, streamline cybersecurity operations, and maximize ROI on security investments. As cyber threats escalate—particularly ransomware and state-backed cyber espionage—this acquisition signals a broader trend of cybersecurity firms consolidating resources to combat evolving digital threats. Source: cybersecuritydive

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