NEWS: SOCAL ACQUISITION ROUNDUP – NextVR, Ten-X, PodcastOne
ACQUISITION News MAY 11-15, 2020
Here are SoCal companies that got acquired this week:
– In the irony of the week, at a time when no one knows when live events and sports will resume, Apple confirmed its acquisition of NextVR, in Newport Beach. The startup provides VR coverage of live events, sporting events and the like for those with VR headsets. The acquisition had been rumored for months.
According to NextVR’s website, the startup shut down, saying that it’s “heading in a new direction.”
According to Bloomberg, “Apple said it buys smaller technology companies from time to time, and generally does not discuss its purpose or plans. It didn’t disclose a purchase price, but website 9to5Mac reported in April that Apple was in talks to buy NextVR for about $100 million.”
– The CoStar Group announced its acquisition of Irvine-based Ten-X for $190 million. Ten-X is an innovative company that provides online real estate services. It enables buyers, sellers and real estate professionals search, list, and transact properties completely online. Jeffrey Frieden, Monte Koch, and Robert Friedman founded Auction in 1990, which became Ten-X in early 2016.
CoStar Group is a provider of commercial real estate information, analytics and marketing services.
PodcastOne, with an office in LA (as well as NYC and Chicago), has been purchased by LiveXLive Media for approximately $18 million. PodcastOne reportedly saw $27.5 million in revenue in 2019, with shows like Adam Carolla and The Jordan Harbinger Show.
(From PodNews, https://podnews.net/update/podcastone-livexlive)