{"id":607658,"date":"2023-02-13T12:17:33","date_gmt":"2023-02-13T18:17:33","guid":{"rendered":"https:\/\/news.sellorbuyhomefast.com\/index.php\/2023\/02\/13\/alliance-entertainment-completes-spac-merger-sets-sights-on-acquiring-and-integrating-competitors\/"},"modified":"2023-02-13T12:17:33","modified_gmt":"2023-02-13T18:17:33","slug":"alliance-entertainment-completes-spac-merger-sets-sights-on-acquiring-and-integrating-competitors","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2023\/02\/13\/alliance-entertainment-completes-spac-merger-sets-sights-on-acquiring-and-integrating-competitors\/","title":{"rendered":"Alliance Entertainment Completes SPAC Merger, Sets Sights on \u2018Acquiring and Integrating Competitors\u2019"},"content":{"rendered":"
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Photo Credit: Clay Banks<\/p>\n<\/div>\n

Last summer, Alliance Entertainment announced<\/a> plans to execute a special purpose acquisition company (SPAC) merger. Now, despite the SPAC sector\u2019s relative collapse, the deal has officially wrapped. <\/strong><\/h2>\n

Alliance Entertainment, which bills itself as \u201cthe largest wholesale distributor of home entertainment audio and video software in the United States,\u201d just recently completed its merger with the Adara Acquisition Corp. The transaction values Sunrise, Florida-based Alliance at approximately $480 million, though the price of the post-merger entity\u2019s shares (OTC: ADRA) was down substantially at the time of this writing.<\/p>\n

Building upon the latter, the NYSE American revealed<\/a>\u00a0on Friday that it had \u201cdetermined to commence proceedings to delist\u201d Adara because it had \u201cfailed to satisfy the requirements for initial listing following a business combination.\u201d But Alliance has emphasized that it \u201cintends to seek to list on the Nasdaq Capital Market as soon as practicable.\u201d<\/p>\n

In any event, Alliance says that it stocks north of 485,000 \u201cunique entertainment products,\u201d items from each of the major labels among them, and is the \u201cexclusive distributor\u201d of approximately 57,300 vinyl, CD, DVD, and video-game products. Additionally, the decades-old business owns indie distributor Amped (which says that it counts as clients Believe<\/a>, Exceleration<\/a>, and Reservoir<\/a>, to name some) and operates online retail platforms such as Deep Discount and Import CDs.<\/p>\n

As disclosed last summer, the GameFly owner Alliance is expected to retain its existing management team, with Bruce Ogilvie staying on as chairman and Jeff Walker continuing to serve as CEO of the combined business. <\/strong><\/h4>\n

Predictably, the cash-flush operation is now positioned to invest \u201cin growth including automating facilities\u201d and upgrading proprietary technology, higher-ups indicated. Furthermore, execs made clear that Alliance can likewise pursue \u201cinorganic growth through a roll-up strategy of acquiring and integrating competitors.\u201d<\/p>\n

Ogilvie drove home the SPAC merger\u2019s acquisition-related byproducts, communicating in part: \u201cMoreover, this business combination will further enable our significant focus on a strategic roll-up strategy of acquiring and integrating competitors and complementary businesses which we believe will drive an accelerated competitive position and value creation.\u201d<\/p>\n

Regarding the initially noted SPAC collapse, both The Music Acquisition Corp.<\/a> and Liberty Media\u2019s SPAC<\/a> shut down with zero acquisitions in 2022. <\/strong><\/h4>\n

Also in 2022, after Pershing Square\u2019s since-dissolved SPAC abruptly dropped<\/a> a deal to buy 10 percent of Universal Music in 2021, special purpose acquisition company mergers involving SeatGeek<\/a> and Triller<\/a> failed to close.<\/p>\n

That said, certain SPAC mergers<\/a> \u2013 the most notable being Deezer\u2019s combination with I2PO SA<\/a> and Anghami\u2019s union<\/a> with the Vistas Media Acquisition Company \u2013 did wrap last year, and the aforementioned Triller is still acquiring companies<\/a> in spite of obstacles including licensing lawsuits<\/a> from UMG and others.<\/p>\n<\/section><\/div>\n

Read More<\/a>
\n Lyndia Mcnaught<\/p>\n","protected":false},"excerpt":{"rendered":"

Photo Credit: Clay Banks Last summer, Alliance Entertainment announced plans to execute a special purpose acquisition company (SPAC) merger. Now, despite the SPAC sector\u2019s relative collapse, the deal has officially wrapped. Alliance Entertainment, which bills itself as \u201cthe largest wholesale distributor of home entertainment audio and video software in the United States,\u201d just recently completed […]<\/p>\n","protected":false},"author":1,"featured_media":607659,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27716,1798,534],"tags":[],"class_list":{"0":"post-607658","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-alliance","8":"category-entertainment","9":"category-financial"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/607658","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=607658"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/607658\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/607659"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=607658"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=607658"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=607658"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}