M&A · Tech · Search, Detection, Navigation, Guidance, Aeronautical Sys
V99, Inc to acquire Telenav, Inc.
Announced Nov 3, 2020 · Closed Feb 17, 2021
Deal value$241MEV $241M
Premium33.3%To unaffected price
EV / Adj. EBITDA20.0x1.0x EV / Revenue
ConsiderationAll cash
Transaction
- Acquirer
- V99, Inc
- Target
- Telenav, Inc.
- Buyer type
- Strategic
- Offer price per share
- —
- Enterprise value
- $241M
- Status
- Closed Feb 17, 2021
Deal protections
- Break fee (target pays)
- $3.5M · 1.5%
- Reverse fee (buyer pays)
- $6.0M · 2.5%
- Go-shop
- 30-day go-shop
- Financing
- No financing condition
Advisors
- To the acquirer
- Not disclosed
- To the target
- B. Riley
- B. Riley fee
- $2.2M
Classification
- Sector
- Tech
- Industry
- Search, Detection, Navigation, Guidance, Aeronautical Sys
Timeline
- AnnouncedNov 3, 2020
- Proxy filedDec 18, 2020
- Definitive proxyJan 8, 2021
- Shareholder voteFeb 16, 2021
- ClosedFeb 17, 2021
Valuation · fairness opinions
Trading comparables$4.13$4.47
Precedent transactions$4.60$5.20
Discounted cash flow$5.36$6.36
Discounted cash flow$4.47$5.22
Premiums paid$4.58$5.83
Implied value per Telenav, Inc. share by analysis, from B. Riley · DCF discount rate 15.5%–20.5%.