secwatch.observer — SEC 8-K summary
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Issuer:     IMMERSION CORP (IMMR)
CIK:        0001058811
Form:       8-K/A
Filed at:   2024-11-25T23:59:59+00:00
Accession:  0001213900-24-102171
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.65
Item codes: 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Immersion acquires 42% of BNED for $50.1M, gains control; pro forma shows $784M revenue for H1 2024
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- Acquisition of ~42% of BNED for $50.1M cash, completed June 10, 2024; Immersion controls BNED via five board seats.
- Pro forma combined six months ended June 30, 2024: revenue $784M, net income to Immersion stockholders $36.8M, EPS $1.16.
- Pro forma combined year ended Dec 31, 2023: revenue $1.588B, net income to Immersion stockholders $0.5M, EPS $0.02.
- BNED historical: net loss from continuing operations $31.3M (H1 2024) and $89.1M (FY 2023) before pro forma adjustments.
- Purchase price allocation includes $95M intangibles (trade name $45M, customer relationships $50M) and $14.2M goodwill.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1058811/000121390024102171/0001213900-24-102171-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1058811/000121390024102171/immr-20240610.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-102171

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