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Shutterstock to Acquire PremiumBeat, A Leading Provider of Royalty Free Music

Shutterstock, Inc. (NYSE: SSTK), a leading global provider of commercial digital imagery and music, has entered into a definitive agreement to acquire PremiumBeat, a leading provider of exclusive, high-quality music and sound effects for use in videos, films, television, apps, games, and other creative projects.

ASE Announces Spin-off of Subsidiary Universal Scientific Industrial Co., Ltd.

Advanced Semiconductor Engineering, Inc. (TWSE: 2311; NYSE: ASX) (ASE) announces that today its board of directors passed resolutions to spin-off of its subsidiary Universal Scientific Industrial Co., Ltd. ("USI") as part of an effort to enhance operational flexibility via structural adjustments. Where necessary, ASE will integrate the business activities of USI with those of other business entities within the group with the aim of achieving increased integral operational efficiency by integrating various group resources dedicated to specialized business operations.

Greif Reports Fourth Quarter 2014 Results

  • Net sales for the fourth quarter 2014 were flat compared to the fourth quarter 2013 after eliminating the effect of acquisitions, dispositions and currency fluctuations
  • Quarterly results were positively impacted by gains on the sale of businesses of $21.2 million and a decrease in SG&A expenses of $2.3 million, offset by asset impairment charges of $70.2 million and restructuring costs of $5.6 million
  • EBITDA1 before special items2 of $149.2 million in fourth quarter 2014 compared to $145.7 million in fourth quarter 2013
  • Diluted Class A earnings per share attributable to Greif, Inc. of $0.15 and $1.56 for the fourth quarter and fiscal year 2014, respectively, compared to $0.65 and $2.47 for the fourth quarter and fiscal year 2013, respectively. Diluted Class A earnings per share attributable to Greif, Inc. were $2.01 for fiscal year 2014 after eliminating the tax-effected impact of fiscal year 2014 timberland gains and fourth quarter 2014 non-cash asset impairment charges
  • Long-term debt, current portion of long-term debt, and short-term debt decreased $171 million during the fourth quarter 2014 primarily from the application of proceeds from the sale of businesses
  • Tax rate for 2014 was negatively impacted by non-deductible goodwill, valuation allowances related to non-U.S. jurisdictions, uncertain tax positions, and discrete deferred tax adjustments

Semtech Acquires Assets of EnVerv

Semtech Corporation (Nasdaq: SMTC), a leading supplier of analog and mixed-signal semiconductors, today announced that it has completed the acquisition of assets of EnVerv, Inc., a privately-held supplier of Power Line Communications and Smart Grid solutions targeted at advanced metering infrastructure, home energy management systems and Internet of Things applications. In conjunction with the asset acquisition, the EnVerv team of employees has joined Semtech. The Company expects the acquisition to be neutral to its full year Fiscal 2016 results. Terms of the transaction were not disclosed.

Adobe Announces Program to Repurchase $2.0 Billion of Stock by End of FY2017

Adobe Systems Incorporated (Nasdaq:ADBE) today announced its Board of Directors has approved a new stock repurchase program granting the company authority to repurchase up to $2.0 billion in common stock through the end of fiscal 2017. Under the new stock repurchase program, which is designed to return value to Adobe's stockholders and minimize dilution from stock issuances, the company will repurchase shares in the open market and also enter into structured repurchase agreements with third parties.

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