Deals of the day—mergers and acquisitions
ARRY•ARRAY Technologies and Shoals Technologies Group agreed to an all-stock merger valuing Shoals at about $1.32 billion. Amdocs acquired EIS for $340 million in cash, while other reported deals included offers and plans worth up to $3.43 billion and about A$715 million.
1. Solar equipment merger
ARRAY Technologies and Shoals Technologies Group agreed to merge in an all-stock deal valuing Shoals at about $1.32 billion. The companies said the combination would bring together their solar equipment businesses to expand product offerings and cut costs.
2. Other reported deals
Amdocs acquired insurance technology provider EIS for $340 million in cash, its first move into the insurance industry. Emaar Properties plans to offer to buy the stake it does not already own in Emaar Development in a potential deal worth as much as $3.43 billion. Goodman Group and Digital Realty offered to buy up to 9.9% of NextDC for about A$715 million ($499.7 million), according to a term sheet.
3. Additional transactions
Optio Group agreed to acquire Names Europe Agencia de Suscripción for an undisclosed sum. Japan Investment Corp plans to sell JSR to Mitsui Chemicals in a deal that could exceed 1.3 trillion yen ($8.20 billion), two people familiar with the matter said. Premia Holdings completed its acquisition of Ramius Enterprise Luxembourg Holdco and subsidiaries, including Cowen Reinsurance, while Epic Insurance Brokers & Consultants acquired Randall Insurance.
