Mastercard acquires Recorded Future in $2.65bn deal

BY Fraser Tennant

In a deal that adds threat intelligence and cyber security technologies to its corporate portfolio, US multinational payment card services corporation Mastercard is to acquire threat intelligence company Recorded Future in a transaction valued at $2.65bn.

The combination of technology and expertise will help enable the development of even more robust practices and drive greater synergies in cyber security and intelligence, as well as helping to protect people and businesses.

“Trust is the foundation of any relationship,” said Craig Vosburg, chief services officer at Mastercard. “Recorded Future adds to how we deliver that greater peace of mind before, during and after the payment transaction. Together we will innovate faster, create smarter models and anticipate emerging threats before cyber attacks can take place – in payments and beyond.”

A current collaboration is an artificial intelligence (AI)-supported service that alerts financial institutions more quickly and with greater accuracy when a card is likely to have been compromised. Since its launch earlier this year, the service has doubled the rate at which compromised cards are identified, as compared to the same time period last year.

Headquartered in Boston with offices and employees around the world, Recorded Future works with over 1900 businesses and government organisations across more than 75 countries to provide real-time, unbiased and actionable intelligence.

The company offers real-time visibility into potential threats by analysing a broad set of data sources to provide insights that enable its customers to take action to mitigate risks. This ability, coupled with its use of AI and other best-in-class technologies, will add to Mastercard’s identity, fraud prevention, real-time decisioning and cyber security services.

“We created Recorded Future with a simple goal to secure the world with intelligence,” said Christopher Ahlberg, chief executive of Recorded Future. “By joining Mastercard, we see an opportunity to help more businesses and governments determine the steps to realise their full potential – and to enable everyone to feel safer in their daily lives.”

The transaction, which is anticipated to close by the first quarter of 2025, is subject to regulatory review and other customary closing conditions.

As new technologies are introduced and adopted, the acquisition bolsters the insights and intelligence used to secure today’s digital economy – in the payments ecosystem and beyond.

News: Mastercard bolsters threat intelligence capabilities with $2.65 billion deal for Recorded Future

Salesforce acquires Own Company in $1.9bn deal

BY Fraser Tennant

In its third acquisition in little more than a month, US cloud-based software company Salesforce is to acquire Own Company, a data protection and management solutions start-up, for approximately $1.9bn in cash.

The move to acquire Own Company is the latest example of Salesforce’s ‘try before you buy’ acquisition strategy, which follows deals to buy start-up software company Tenyx and retail point of sale software vendor PredictSpring.

Moreover, the acquisition comes at a time when customers are increasingly focused on mitigating data loss due to system failures, human error and cyber attacks, with the advent of artificial intelligence (AI) making customers even more aware of the need to protect and manage access to data.

“Data security has never been more critical, and Own Company’s proven expertise and products will enhance our ability to offer robust data protection and management solutions,” said Steve Fisher, president and general manager of Einstein 1 Platform and Unified Data Services at Salesforce. “This transaction underscores our commitment to providing secure, end to end solutions that protect our customers’ most valuable data and navigate the shifting landscape of data security and compliance.”

Trusted by nearly 7000 customers to safeguard mission-critical data, Own Company’s data platform provides data archiving, seeding, security and analytics capabilities that help customers ensure the availability, compliance and security of their mission-critical software as a service data.

“We are excited to join forces with Salesforce, a company that shares our commitment to data resilience and security,” said Sam Gutmann, chief executive of Own Company. “As digital transformation accelerates, our mission has expanded from preventing data loss in the cloud to helping customers protect their data, unlock business insights and accelerate AI-driven innovation.”

The transaction is expected to close in the fourth quarter of Salesforce’s fiscal year 2025, subject to customary closing conditions, including the receipt of required regulatory approvals.

Mr Gutmann concluded: “Together with Salesforce, we will deliver even greater value for our customers by driving innovation, securing data and ensuring compliance in the world’s most complex and highly regulated industries.”

News: Salesforce to buy data protection provider Own Company for $1.9 bln

Methanex strikes $2.05bn methanol deal

BY Richard Summerfield

Methanex Corporation has agreed to acquire the methanol business of Dutch green fuel manufacturer OCI Global, in a deal worth $2.05bn.

According to a statement announcing the deal, the $2.05bn purchase price will consist of $1.15bn in cash, the issuance of 9.9 million common shares of Methanex valued at $450m (based on a $45 per share price) and the assumption of $450m in debt and leases. OCI will become the second-largest shareholder of Methanex, with about 13 percent of the company.

The deal is expected to close in the first half of 2025. The transaction has been approved by the boards of directors of both companies and is subject to receipt of certain regulatory approvals and other closing conditions.

Under the terms of the deal, Methanex, a Canadian company that supplies, distributes and markets methanol worldwide, will acquire a methanol facility in Beaumont, Texas with an annual production capacity of 910,000 tonnes of methanol and 340,000 tonnes of ammonia, a 50 percent interest in a second methanol facility also in Beaumont, Texas, operated by the joint venture Natgasoline, OCI HyFuels, which produces low-carbon methanol and sells volumes with trading and distribution capabilities for renewable natural gas (RNG), and a methanol facility in Delfzijl, Netherlands with an annual capacity to produce 1 million tonnes of methanol.

Methanex expects to achieve approximately $30m of annual cost synergies from lower logistics costs and lower selling, general and administrative expenses.

“This transaction is testament to the efforts of an exceptionally talented group across OCI Methanol’s platform, who have prioritized value creation for the past 14 years,” said Bashir Lebada, chief executive of OCI Methanol Group. “We are proud of OCI’s contributions to new applications, and in pioneering the use of methanol as a fuel globally, Methanex is well positioned to leverage OCI HyFuels to accelerate the transition to a low-carbon economy.”

 “We expect the acquisition to add incremental annual Adjusted EBITDA of $275 million to our expected run-rate Adjusted EBITDA of $850 million at a $350/MT realized methanol price,” said Dean Richardson, senior vice president, finance & chief financial officer at Methanex. “We remain firmly committed to maintaining financial flexibility and have in place a robust financing plan that will support de-levering to our target range of 2.5 to 3.0 times debt/Adjusted EBITDA within approximately 18 months from closing, assuming an average realized price of $350/MT. The plan includes the repayment of our $300 million bond as scheduled in December 2024.”

“This is an outstanding strategic fit for Methanex,” said Ahmed El Hoshy, chief executive of OCI. “We look forward to working closely with Methanex’s management to fully integrate the business after closing, and to ensure continuity and successful stewardship of the business.”

News: Methanex to acquire OCI's methanol business in $2.05 bln deal

McKesson acquires FCS unit in $2.49bn deal

BY Fraser Tennant

In a transaction that enhances its integrated oncology platform, healthcare company McKesson is to acquire a controlling stake in community cancer centre Florida Cancer Specialists & Research Institute’s (FCS) business and administrative services unit for $2.49bn in cash.

Under the terms of the definitive agreement, McKesson will own an approximate 70 percent stake in the unit, Core Ventures, which manages non-clinical administrative functions such as providing operational and advisory support services to FCS clinics. FCS physicians will continue to retain a minority interest in Core Ventures.

Dedicated to advancing health outcomes for patients everywhere, McKesson’s teams partner with biopharma companies, care providers, pharmacies, manufacturers, governments and others to deliver insights, products and services to help make quality care more accessible and affordable. 

Following the close of the transaction, FCS, a practice with more than 250 physicians and 280 advanced practice providers, across nearly 100 locations in Florida, will remain independently owned and FCS will join McKesson’s The US Oncology Network, a leading oncology organisation, dedicated to advancing local and affordable cancer care and better patient outcomes.

“This acquisition marks an important step forward in our efforts to advance community-based oncology care,” said Brian Tyler, chief executive of McKesson. “By growing our oncology platform, we will bring advanced treatments and improved care experiences to patients, while also reducing the overall cost of care.

“FCS and Core Ventures’ expertise and patient-first approach align with our commitment to accelerating clinical development, improving patient outcomes and expanding access to quality cancer care in the community,” he continued. We are also pleased to welcome FCS to The US Oncology Network, reinforcing our dedication to empowering community-based providers to independently thrive in today’s rapidly evolving healthcare landscape.”

The transaction is subject to customary closing conditions, including necessary regulatory clearances.

Lucio N. Gordan, president and managing physician at FCS, concluded: “Our patients are the true beneficiaries of this transaction as we seek to drive meaningful outcomes and deliver sustained value with every interaction. Through the power of our combined operational expertise, we can bolster community oncology's role in increasing access to high-quality, affordable care.”

News: McKesson to buy controlling stake in Florida Cancer Specialists' unit for about $2.5 billion

J&J to acquire V-Wave

BY Richard Summerfield

Johnson and Johnson (J&J) has agreed to buy heart failure implant company V-Wave in a deal worth a potential $1.7bn.

According to J&J, the acquisition will extend its position as a leader in addressing cardiovascular disease. V-Wave develops cardiovascular implant technology that specifically targets heart failure with reduced ejection fraction.

Under the terms of the deal, J&J will acquire V-Wave for $600m upfront, with potential payments of up to $1.1bn contingent on regulatory and commercial milestones. V-Wave will join J&J as part of its MedTech division, the company said, with financials reported as part of its cardiovascular portfolio. Michael Bodner, group president, heart recovery & intravascular lithotripsy, will assume responsibility for the V-Wave team upon close. J&J initially invested in V-Wave in 2016.

The deal, which is expected to close before the end of 2024, subject to necessary approvals and other closing conditions, is the latest in a succession of acquisitions agreed by J&J as it attempts to drive growth beyond 2025. In April, the company agreed a $13.1bn deal to acquire Shockwave Medical. In 2023, J&J acquired miniature heart pump maker Abiomed, for $16.6bn, and paid $400m for cardiac implant developer Laminar.

J&J expects the acquisiton of V-Wave to dilute adjusted earnings per share by approximately $0.24 in 2024 and approximately $0.06 in 2025.

“We are excited to welcome V-Wave to Johnson & Johnson MedTech and to take another meaningful step toward transforming the standard of care for cardiovascular disease,” said Tim Schmid, executive vice president and worldwide chairman of Johnson & Johnson MedTech. “We recognize the importance of identifying more diverse and effective treatments for heart failure, and our recent track record demonstrates our focus on accelerating our impact on the most urgent and pressing unmet needs. We know V-Wave well, with our relationship dating back to our original investment in the company in 2016, and we have a deep understanding of the technology and science, as well as the company’s commitment to patients.”

“At V-Wave, we are dedicated to achieving our vision to help patients around the world – and we know Johnson & Johnson MedTech shares this mission,” said Neal Eigler, chief executive of V-Wave. “We are confident that Johnson & Johnson MedTech is well-positioned to ensure V-Wave’s breakthrough ideas and technology reach patients in need as quickly and effectively as possible.

“We look forward to continuing to build a world where cardiovascular disease is prevented, treated, and cured,” he added.

News: J&J to buy medical device maker V-Wave for up to $1.7 bln