News Briefs

Hey PE Week Wire readers. Glad to see you on the Web site. As promised, here is a reprint of last Wednesday’s Wire commentary, and the emails that followed… ——————— This past March, Venture Capital Journal columnist Ravi Chiruvolu (who moonlights as a general partner with Charter Venture Capital) wrote the following: “Startups funded today should […]

Get The Wire in your inbox each morning! Just send us an email. Austin Ventures (AV) will close its remaining Dallas office, according to various press reports. The firm has asked four investment professionals – including general partner Ed Olkkola – to relocate to Austin, while several lower-level staffers will be laid off. Back in […]

Get The Wire in your inbox each morning! Just send us an email. Walter Industries Inc. (NYSE: WLT) has agreed to sell its JW Aluminum Co. subsidiary to Wellspring Capital for $125 million. The deal is expected to close before year-end. JW Aluminum is a Mount Holly, S.C.-based manufacturer of specialty flat-rolled aluminum products including […]

Get The Wire in your inbox each morning! Just send us an email. Digital Insights Corp. (Nasdaq: DGIN) has agreed to acquire Magnet Communications Inc., an Atlanta-based provider of online cash management and business banking solutions. The purchase consideration includes $33.5 million in cash, plus 1.45 million shares of Digital Insight common stock, which closed […]

Get The Wire in your inbox each morning! Just send us an email. Apollo Management has agreed to acquire Pittsburgh-based supplement chain GNC for $750 million. The seller is Dutch food company Royal Numico NV, which says that the divestiture will help it better focus on its core businesses. The deal is expected to close […]

Get The Wire in your inbox each morning! Just send us an email. Neartek Inc., a Westborough, Mass.-based provider of tape storage software solutions for mixed computing environments, has raised $8 million in new venture capital funding. The deal is an extension of an earlier Series C round, which closed in early 2002 with $27 […]

Get The Wire in your inbox each morning! Just send us an email. OsteoBiologics Inc., a San Antonio-based maker of medical devices for the repair and replacement of bone and articular cartilage, has raised $9.2 million in new venture funding. Thomas, McNerney & Partners and The Vertical Group co-led the deal, and was joined by […]

Get The Wire in your inbox each morning! Just send us an email. Confluent Photonics Corp., a Salem, N.H.-based provider of optical transport solutions, has raised $3 million in Series B funding. Return backers included InnoCal Venture Capital, Rustic Canyon Ventures and INVESCO Private Capital. Confluent now has raised $14 million in venture capital, including […]

Get The Wire in your inbox each morning! Just send us an email. AttachSTOR Inc., a Phoenix, Ariz.-based provider of email attachment management software, has raised $7.5 million in Series B funding. The deal involves the conversion of a $1.2 million bridge loan closed earlier this year. The new funding was co-led by Canaan Partners […]

Get The Wire in your inbox each morning! Just send us an email. Doughty Hanson & Co. has agreed to sell portfolio company FL Selenia SPA to Vestar Capital Partners for