Knight Capital Sells Itself to Getco, Kodak Monetizes Patents: Merger and Acquisitions Recap
Late tuesday, Knight Capital Group (NYSE:KCG) said it would sell itself to Getco Holding Company which won the purchase over the high-speed trading company Virtu Financial, according to inside sources. Virtu had offered an all-cash buyout, but Getco and its private equity firm General Atlantic hiked its offer to more than $3.60 a share in cash and stock in the combined company. Through Getco’s plan, Knight Chief Executive Thomas Joyce will surrender his role.
International Business Machines Corporation (NYSE:IBM) will acquire the privately-held StoredIQ which is based in Austin. The purchase should advance the buyer’s endeavors to assist clients in deriving value from big data and respond more efficiently to litigation and regulations and also the disposal of information that has outlived its purpose. Terms of the deal were not reported.
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Eastman Kodak Company (EKDKQ.PK) has finalized a series of agreements that monetizes its digital imaging patents. The deal confers rights with respect to the digital imaging patent portfolio and certain other Kodak patents to 12 intellectual property licensees, organized by RPX Corporation (NASDAQ:RPXC) and Intellectual Ventures. In return, Kodak will receive around $525 million, of which a portion will be paid by Intellectual Ventures, which is purchasing the digital imaging patent portfolio subject to these new licenses along with previously existing licenses.