Stephan Cretier, president and CEO of Garda World Security Corp. is seem in this file photo.CHRISTINNE MUSCHI/The Globe and Mail
DEAL OF THE DAY: Garda World exploring potential sale
Montreal-based Garda World Security Corp is exploring a sale that could value it at more than $3-billion including debt, people familiar with the matter told Reuters. Garda is working with investment banks Bank of America Corp, Jefferies LLC and Royal Bank of Canada and is in talks with a small number of private equity firms about a potential deal. Full story
MERGERS AND ACQUISITIONS
SunOpta acquires Niagara Natural in $6.7-million deal
SunOpta Inc. will acquire the assets of Niagara Natural Fruit Snack Company Inc., based in Ontario. Niagara Natural is expected to generate approximately $10-million in revenue in 2015, and has approximately 35 employees, all of whom are expected to join SunOpta. John Boot, who founded Niagara Natural in 2009 and serves as its President, will lead SunOpta's combined fruit snack category. The transaction is valued at approximately $6.7-million. Press release
Fidelity buys SunGard for $9.1-billion
Fidelity National Information Services, a large service provider for banks, said it has agreed to acquire SunGard, a financial software company, in a cash-and-stock deal valued at about $9.1-billion (U.S.), including debt. The resulting combined company would have more than $9.2-billion in annual revenue and more than 55,000 employees. Full story
Silver Standard expands its Nevada mine
Silver Standard Resources Inc. has acquired 2,844 hectares contiguous with the company's Marigold mine in Nevada from Newmont Mining Corporation. Silver Standard, through its wholly-owned subsidiary, Marigold Mining Company, will acquire 100 per cent of Newmont's interest in the Valmy Property for cash consideration of $11.5-million (Canadian). Press release
INITIAL PUBLIC OFFERINGS
Stingray posts strong first public earnings as it charts expansion plans
Stingray Digital Group Inc. reported earnings as a public company for the first time on Wednesday. The Montreal-based company posted revenue of $20-million for the quarter, an increase of 27 per cent from the same period a year ago. Though it marked a net loss of $1.7-million, mainly due to costs associated with its May IPO, on an adjusted basis the company had a net income of $4.8-million, an increase of 33 per cent from 2014. Full story
PRIVATE EQUITY AND VENTURE CAPITAL
Cyclica gets funding from GreenSky
Toronto-based Cyclica, a data and analytics company, is being injected with fresh capital from newly created GreenSky Accelerator Fund, which is affiliated with Toronto's GreenSky Capital Inc. This is the fund's first investment. The financial details of the deal were not disclosed. Press release
Adjuvantz to be acquired by GMD Distribution Inc.
Adjuvantz Inc., a Toronto-based provider of patient support programs, was acquired by Oakville, Ont.-based GMD Distribution Inc. for an undisclosed amount. Press release
ANALYSIS AND INSIGHT
Barrick chooses CIBC to help sell its mines
Barrick Gold Corp. has tapped CIBC to sell its smaller American gold mines and project, according to people familiar with the matter. Barrick, the world's biggest gold producer, has been selling mines to reduce its $13-billion (U.S.) debt. The Canadian company recently announced plans to sell a batch of insignificant mines mostly based in Nevada, as well as its stakes in the Round Mountain mine and the Spring Valley gold project. Full story
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