Bally agrees to buy VC-backed Dragonplay

Bally Technologies has agreed to buy Israeli social casino firm Dragonplay for approximately $100 million. The transaction is expected to close in July 2014. The Raine Group provided financial advice to Dragonplay on the deal. Dragonplay was backed by Accel Partners, Entrée Capital and Founder Collective.


CMC Capital Partners buys minority stake in IMAX China

CMC Capital Partners has acquired a 20 percent stake in IMAX China, an IMAX subsidiary. The value of the transaction is for $80 million, which will be paid in two installments, one today and the other in early 2015. The Raine Group advised IMAX on the deal. Headquartered in New York, Toronto and Los Angeles, IMAX is a film format company.

Madison Parker Capital sells beRecruited to The Raine Group

Madison Parker Capital has sold one of its portfolio companies, beRecruited, to The Raine Group, a private equity firm headquartered in New York City. Madison Parker Capital acquired beRecruited from its founders in 2007. Financial terms of the deal were not disclosed.

textPlus Raises Funds Led by The Raine Group

textPlus, a provider of free mobile communications worldwide, has raised $18 million in capital led by The Raine Group. Previous textPlus investors Kleiner Perkins Caufield Byers, Matrix Partners and GRP Partners have also joined in this fourth round of funding for the company. Proceeds will be used towards international expansion, product development and strategic acquisitions.

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