Jonathan Marino
Listed, Calif.-based VMWare Inc. announced Monday it would acquire Shavlik Technologies, a provider of cloud-based technologies for small to medium sized businesses. Shavlik Technologies was founded in 1993 and is based in Minnesota.
ON24, the California-based online video communications company, is preparing to file paperwork to go public, a senior source familiar with the company’s plans said. Because ON24’s plans are still in the early stages, the source declined to say how much of the company would be sold, or at what price. ON24’s pending IPO announcement would reflect similarities to another online video communications company that ultimately did not go public...
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Constellation Energy, the listed, Baltimore-based energy company, will buy MXenergy in an all-cash deal totaling $175 million. Denham Capital Management, Charterhouse Group and Sempra Energy Trading have each thrown their support behind the transaction. BofA Merrill Lynch acted as financial adviser to MXenergy on the transaction as well as on the replacement and termination of the Sempra Energy Trading supply facility, and Duff & Phelps delivered a fairness opinion to the MXenergy Board of Directors.
DEI Holdings, the California-based maker of consumer electronics products, was acquired off the Pink Sheets last week by Charlesbank Capital Partners in a $285 million deal. The deal includes a 35-day go-shop for DEI. Charlesbank has secured committed debt financing from General Electric Capital Corporation and OPY Credit Corp., an affiliate of Oppenheimer & Co. Inc. Greenberg Traurig, LLP is acting as legal advisor to DEI Holdings in connection with the transaction. Goodwin Procter LLP is acting as legal advisor to Charlesbank.
Verto Partners, the performance improvement, restructuring and turnaround firm, has acquired Wavelength Strategies, a New York-based transaction services firm concentrating on life sciences, healthcare and technology. Terms were not publicized. Wavelength managing principals Duncan Steels and Greg Calaman join Verto as Managing Directors and will lead the New York office of Verto. According to its website, Verto counts among its clients TA Associates, Arcapita, Kleiner Perkins, Hicks Muse Tate & Furst, JP Morgan Chase, UBS Capital, the Bass Family and New Enterprise Associates.
California-based thredUP, the online platform for swapping children’s accessories, completed a $7 million Series B financing on Friday. Redpoint Ventures led the round with Trinity Ventures and former eBay CEO, Brian Swette participating. Tim Haley of Redpoint Ventures will join Patricia Nakache of Trinity Ventures on thredUP's Board of Directors. Its aggregate fundraising total is $8.7 million to date. Netflix CEO Reed Hastings and Swette are advisors to thredUP, which was launched by Harvard Business School grads James Reinhart, Oliver Lubin, and Chris Homer.
Agile Financial Technologies, the Indian BFSI software products company, completed a $5.7 million Series A financing led by IDG Ventures India. Cash will be used to help the company launch growth plans into new markets. T.C. Meenakshisundaram and Hemir Doshi of IDGVI will be joining the board of Agile FT.
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Boston-based private equity firm Monitor Clipper Partners acquired the assets of Pharmetics Inc., aside from the company’s Fort Erie manufacturing facility. Pharmetics, based in Quebec, runs vitamin, mineral and dietary supplements and an over-the-counter drug operation. With its recent investment in prescription benefits manager ScriptSave, it’s likely that Monitor Clipper can find synergies between the two assets.