Eltek Energy, a subsidiary of listed Norweigen telecom company Eltek Group, has agreed to acquire Valere Power Inc., a Richardson, Texas-based provider of power supply solutions for communications providers. The combined company will be called Eltek Valere, and is expected to “investigate a separate listing of the company in the US or another major global […]
First Data Corp. (NYSE: FDC) has agreed to acquire FundsXpress, an Austin, Texas-based provider of online banking and bill payment services for consumers and small businesses. No financial terms were disclosed. FundsXpress was advised by Lane Berry & Co., and has raised $80 million in total VC funding from firms like Warburg Pincus, Beacon Partners, […]
Last week, I expressed astonishment that two Dow Chemical executives would solicit buyout offers without the board’s knowledge or authorization. These were rogue employees who hoped their brazenness might result in such a good offer that the board would forgive their misdeeds… Misguided for certain, and unusual within a “don’t rock the boat” company like Dow… Right? Well, […]
Google (Nasdaq: GOOG) has agreed to acquire online marketing company DoubleClick Inc. from Hellman & Friedman and JMI Equity for $3.1 billion in cash. H&F led a $1.1 billion buyout of DoubleClick in 2005, with JMI Equity participating as a minority investor. www.doubleclick.com
Welsh, Carson, Anderson & Stowe has agreed to sell diagnostics testing company Ameripath to Quest Diagnostics (NYSE: DGX). The deal is valued at approximately $2 billion, including $770 million in debt. The deal is expected to close later this quarter. WCAS acquired Ameripath in 2003 for approximately $840 million. www.ameripath.com
Bespak PLC (LSE: BPK) has agreed to acquire Emergent Respiratory Products Inc., an Irvine, Calif.-based maker of breathing equipment and related single-use circuits and masks as an early treatment for patients experiencing breathing difficulty. The deal is broken out into two tranches: Bespak will initially invest $3 million for a 51% equity stake. The remaining […]
ISIS Equity Partners has sold Martin Audio Ltd. to LOUD Technologies (Nasdaq: LTEC) for Gbp17.25 million. Martin Audio is a UK-based manufacturer of loudspeaker systems for the professional audio markets. It was acquired by ISIS in 2003, via a buyout from former parent company TC Group AS. www.martin-audio.com
Akamai Technologies Inc. (Nasdaq: AKAM) has acquired Red Swoosh Inc., a San Mateo, Calif.-based distributed networking infrastructure company. The deal is valued at approximately $15 million in Akamai stock, net of cash acquired. Red Swoosh was originally seeded by Mark Cuban, and later raised around $1.73 million in Series A funding from August Capital and […]
Sun Microsystems Inc. (Nasdaq: SUNW) has agreed to acquire the IP assets of SavaJe Technologies Inc., a Chelmsford, Mass.-based provider of mobile telephony software. No financial terms were disclosed. SavaJe has raised over $120 million in total VC funding since 1999, including a $13 million Series AA recap round last summer. Participants on the recap […]
Comcast Corp. (Nasdaq: CMCSA) has agreed to acquire Fandango Inc., a Los Angeles-based movie ticket reseller via the Internet, telephone or mobile device. No financial terms were disclosed for the deal, which is expected to close later this quarter. Fandango has raised around $61 million in VC funding since 2000, from firms like Accretive Technology […]