New On The Block
After reviewing strategic alternatives earlier this year, Domo, Inc. (Domo (DOMO)) has decided that pursuing a strategic transaction is the best way to maximize shareholder value. The company is already in advanced talks about a potential deal. Domo also recently signed a forbearance agreement with its lender after failing to meet a minimum annualized recurring revenue covenant, giving it some breathing room as it continues its review.
Updates From The Block
Let's start with the biggest headlines. Yum! Brands (Yum! Brands (YUM)) is selling Pizza Hut to private equity firm LongRange Capital for about $1.5 billion. But that's not the whole story — the deal excludes Pizza Hut's China locations, which Yum China will pick up separately for $1.2 billion. Both transactions are expected to close in the third quarter, pending regulatory approval.
In a move that's been rumored for a while, Fox Corp (Fox Corp (FOX)) has agreed to buy Roku (Roku (ROKU)) in a cash-and-stock deal worth about $22 billion, or $160 per share. As Fox Business put it, "The combination pairs FOX's live entertainment, news and sports portfolios, including The Tubi service, the NFL, MLB and FOX News Media, with the top television streaming platform in the U.S. by hours streamed, accelerating the company's expansion into connected TV advertising." Roku founder Anthony Wood will stick around after the merger and join Fox's board. The deal is expected to close in the first half of 2027.
Over in the software world, Salesforce (Salesforce (CRM)) is buying Fin, the company formerly known as Intercom, for about $3.6 billion. The plan is to offer customers "a range of AI agent solutions, from rapid deployment for smaller organizations to more customized, enterprise-scale integrations." The deal should close in the final quarter of Salesforce's 2027 fiscal year, subject to regulatory approvals.
Simulations Plus, Inc. (Simulations Plus (SLP)) is going private. Affiliates of Altaris LLC, a healthcare-focused investment firm, are buying the company in an all-cash transaction at $18.50 per share. Simulations Plus will stay in Research Triangle Park, North Carolina, and become a privately held subsidiary of Altaris. Its stock will stop trading on the Nasdaq once the deal closes in the fourth quarter of 2026.
Canadian fintech Nuvei is buying U.S. cross-border payments provider Payoneer in an all-cash deal worth nearly $2.75 billion. Nuvei says the acquisition will strengthen its ability to support emerging financial models like agentic commerce, stablecoin payments, and platform-native financial services. The deal is expected to close in mid-2027, subject to Payoneer shareholder approval and regulatory green lights.
Deluxe (Deluxe (DLX)), a payments and data company, is acquiring Celero Commerce for $625 million, plus some adjustments. Celero focuses on payment solutions for small to mid-sized businesses. Deluxe CEO Barry McCarthy said, "Combined, the two companies will broaden our distribution reach and deepen our presence across key verticals, including financial institutions, independent software vendors and independent sales organization partner channels." The deal is expected to close in the third quarter.
Francisco Partners, a tech-focused investment firm, has bought EfficientIP, a company that specializes in DNS, DHCP, and IP address management (DDI) and DNS security. CEO Norman Girard will continue to lead the company, and the founders — Jean-Yves Bisiaux, Sylvain Galliano, and Ronan David — are reinvesting in the business. Financial terms weren't disclosed.
Flexstone Partners, a global private markets investment manager and affiliate of Natixis Investment Managers, is acquiring Glouston Capital Partners, a private equity secondaries manager. The combined platform will manage more than $15 billion in assets across primary, co-investment, and secondary strategies, serving institutional investors in North America, Europe, and Asia. Terms weren't disclosed.
