Home Authors Posts by Iris Dorbian

Iris Dorbian

Kevin Kimsa has joined OMERS Ventures, the venture capital investment division of the OMERS pension plan, as a venture partner. In his new position, Kimsa will support both early and later-stage growth portfolio companies in the North American market, with a focus on the technology, media and telecommunications sectors.
Ghost Group said on Wednesday that it has launched Emerald Ocean Capital, a fund that invests in companies and technology focused on the legal cannabis and medical marijuana sector. Based in Southern California, Ghost Group is a venture capital firm focused on the emerging marijuana industry.
Labor Aiding Systems, a provider of assembly equipment for automotive seating and interior trim applications, has been bought by a new entity formed by private investor Joe Simon. No financial terms were disclosed. Angle Advisors acted as the investment banking advisor to LAS for this transaction.
Salesforce.com has agreed to buy ExactTarget in a transaction valued at approximately $2.5 billion. Terms of the deal call for Salesforce.com to make a tender offer for all of ExactTarget's outstanding shares at $33.75 per share cash.  The transaction, expected to close by the end of July, has been approved by boards for both companies. ExactTarget shareholders include Greenspring Associates, Technology Crossover Ventures and Battery Ventures. ExactTarget is a cloud marketing platform. BofA Merrill Lynch advised Salesforce.com while JP Morgan advised ExactTarget.
Delivery.com, LLC, an online service that connects customers to local businesses, said on Tuesday that it will buy the key assets of Brinkmat, LLC. This acquisition includes Brinkmat.com, a New York-based site for free local pick-up and delivery of laundry, dry cleaning and tailoring. No financial terms were disclosed. Delivery.com is a portfolio company of Cantor Ventures, the venture capital and enterprise development division of Cantor Fitzgerald.
Umpqua Holdings Corp., parent company of Umpqua Bank and Umpqua Investments, said on Tuesday that it has signed an agreement to acquire Financial Pacific Holding Corp. for $158 million in cash. FinPac is currently a portfolio company of Flexpoint Ford LLC, a Chicago-based private equity firm. Based in Federal Way, Washington, FinPac is the parent company of Financial Pacific Leasing, LLP, a provider of commercial equipment leases and loans.
Trimble, a provider of construction technology, said on Tuesday that it has it has acquired Trade Service Company, LLC, from the GF Capital Private Equity Fund, LP and senior management. No financial terms were disclosed. Based in San Diego, Calif., Trade Service is a provider of products for the architecture, engineering, and construction industries.
Praesidian Capital, a provider of senior and subordinated debt for small and mid-sized businesses, said on Tuesday that it has successfully exited $7.6 million in senior notes in K1 Speed. . Based in Irvine, Calif., K1 Speed is a provider of indoor go-kart racing tracks. Praesidian made its initial investment in September 2011 to fund K1’s expansion strategy.
IBM said on Tuesday that it has entered an agreement to acquire SoftLayer Technologies, a portfolio company of GI Partners. No financial terms were disclosed. The transaction is expected to close in the third quarter of 2013. Based in Dallas, TX, SoftLayer Technologies is a provider of cloud computing infrastructure.
TYRX said on Tuesday that it has received a private investment from the California-based MemorialCare Innovation Fund. No financial terms were disclosed. Based in Monmouth Junction, NJ, TYRX is a provider of implantable medical devices designed to help reduce infections associated with implantable devices, such as pacemakers and defibrillators. MCIF is a strategic investment company owned by MemorialCare Health System.
pehub
pehub

Copyright PEI Media

Not for publication, email or dissemination