PEI Staff
In First Read, the Feds have finally charged the man who stole nude photos of celebrities in 2014, Instagram is using an algorithm-based feed and Snapchat hires Tom Conrad, longtime Pandora exec, as its VP of Product.
In Second Opinion, Shares of Valeant plunge 50 percent after the drugmaker said it was in danger of a debt default, meal delivery service SpoonRocket, which has raised $13.5 million to date, shuts down after failing to raise new financing, the Koch brothers have started a new family office to quietly invest their fortune.
Private equity firm Renovo Capital invested in Dallas-based DIMONT, a provider of specialty insurance and loan administration solutions to the residential and commercial financial services industries. Financial terms of the investment were not disclosed. Renovo also owns RealtyTrac and Homefacts, two real estate data providers.
J.W. Childs Associates LP closed an investment in Comoto Holdings Inc, a new holding company formed in partnership with the founders and equity holders of RevZilla Motorsports LLC. Comoto will have equity investments in both RevZilla and Cycle Gear Inc, two retailers of apparel, accessories and parts for motorcycle riders. Financial terms of the transaction were not disclosed.
TPG Growth joined forces with Stephen Pratt and other technology executives to launch Noodle Analytics Inc (Noodle.ai), a company that uses artificial intelligence to help corporate clients. No financial terms of the deal were disclosed. Pratt was most recently global leader of Watson for IBM's Global Business Services unit. Noodle.ai will be based in San Francisco and Bangalore.
In First Read, Lyft and GM roll out car rental program to attract more drivers, Sony to pay Michael Jackson's estate $750 mln for its share of the Sony/ATV Music Publishing catalog, and Amazon is trying to patent paying with a selfie.
IT company Landesk agreed to acquire AppSense, a provider of secure user environment management solutions. Based in Salt Lake City, Utah, Landesk has been backed by Thoma Bravo since September 2010.
Blue Wolf Capital Partners sold CTG Advanced Materials LLC to CTS Corp for $73 million in cash. Based in Bolingbrook, Illinois, CTG makes crystal piezoelectric parts for medical equipment. Blue Wolf has owned CTG since 2013.
Private equity firm Francisco Partners agreed to invest $52 million in Connecture Inc, a Nasdaq-listed company that provides information systems used to create health insurance marketplaces. Existing shareholder Chrysalis Ventures will also participate in the investment. At closing, Connecture will issue and sell Series A preferred stock, which will be convertible into common stock. When the investment has been completed, Ezra Perlman, co-president of Francisco, will join the Connecture board.
Enlightenment Capital, an aerospace, defense, and government-focused investment firm, made a strategic investment in Aurora Flight Sciences, a developer of unmanned aircraft systems based in Manassas, Virginia. Financial terms of the transaction were not disclosed. PRESS RELEASE Manassas, Virginia, and Chevy Chase, Maryland – March 14, 2016 – Enlightenment Capital, an aerospace, defense, and government-focused investment firm, […]