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Cross Border Activity - May 2009

Posted in Cross Border Activity

There were four cross-border transactions in May, one financing and three M&A deals.  All of the acquisitions were made by big players, as smaller companies continued to sit on the sidelines.    

 

Details of May’s cross border deals are listed below.

 

 

Cross Border Financings

 

Boston’s GrandBanks Capital led a $6.9 million investment in I Love Rewards, an employee rewards and sales incentive recognition program operating out of Toronto.

 

 

Cross Border M&A

 

Washington-based Microsoft acquired Vancouver’s BigPark Inc., an interactive online gaming company. The acquisition is intended to facilitate product development for Microsoft’s Xbox 360 gaming system.

 

Colarado’s Western Union Co. (NYSE: WU), the world’s largest global payments company, has acquired BC’s Custom House Ltd., an independent provider of business-to-business international payment solutions for small and medium-sized enterprises. The transaction is valued at $370 million (USD).

 

Onex (TSX: OCX) used its position as one of the major creditors of the Tropicana Las Vegas Resort and Casino to negotiate a controlling interest in the bankrupt property once it emerges from its court-assisted restructuring process.  The acquisition cost Onex less than $200 million (USD).