Independent Insurance Investments Inc., an auto insurance portfolio company of Inverness Management, has completed its acquisition of the Omni Insurance Group from The Hartford Financial Services Group Inc. (NYSE: HIG). No financial terms were disclosed for the deal, for which almost all of the equity was provided by Inverness and its limited partners.
Edgeio Inc., a Menlo Park, Calif.-based online classifieds company, has acquire the assets of Adaptive Real Estate Services, which has around 1.5 million homes listed for sale. No financial terms were disclosed. Edgeio raised $5 million last month from Intel Capital, Millennium Technology Ventures, RSS Investors and Trans Cosmos USA. www.edgeio.com
Circle Software Inc., a provider of software solutions for the commercial real estate market, has agreed to merge into Realm Business Solutions Inc., a Houston, Texas-based provider of software and services for managing real estate portfolios. Existing Realm shareholders Insight Venture Partners and Lightyear Capital will provide additional equity for the transaction, although specific financial […]
Eureka Growth Capital has sold Specialty Pharma Inc. to Critical Homecare Solutions, a portfolio company of Kohlberg & Co. No financial terms were disclosed Specialty Pharma is a Cromwell, Conn.-based provider of home infusion and respiratory therapy services, and was advised on the sale by Ewing Bemiss & Co.
Focus Brands, a restaurant franchise acquisition platform backed by Roark Capital Partners, has acquired Schlotzsky's Ltd., an Austin, Texas-based sandwich shop chain. No financial terms were disclosed, except that Schlotzsky's generates $210 million in annual revenue. www.focusbrands.com www.schlotzskys.com
It seems that ludicrous/lucrative transaction and management fees aren’t all that HCA disclosed in the 8-K form it filed last Friday with the SEC. Check out this passage that reader Zach noticed on page 12 (the bolding is mine): “In each of the employment agreements with the Executives (exclusive of Robert A. Waterman), the Company also commits to […]
Haggin Marketing Inc., a Sausalito, Calif.
LGC Wireless Inc., a San Jose, Calif.-based wireless networking company, has bought the Cellular Mobile business unit of Alvarion Ltd. (Nasdaq: ALVR) for approximately $15 million in convertible notes and the assumption of certain liabilities. LGC has raised around $78 million in total VC funding since its 1996 inception, from firms like Associated Venture Investors, […]
SunGard has acquired Integrated Business Systems Inc., a Melville, N.Y.-based provider of software solutions and related services to hedge funds. No financial terms were disclosed. SunGard was acquired last year in a public-to-private buyout by Silver Lake Partners, AlpInvest, Bain Capital, Blackstone Group, Goldman Sachs, HarbourVest Partners, KKR, Providence Equity Partners and Texas Pacific Group. […]
GXS, a Gaithersburg, Md.-based provider of B2B ecommerce solutions, has acquired UDEX Ltd., a Newport, UK-based provider of product data quality services. No financial terms were disclosed. GXS is a portfolio company of Francisco Partners and Norwest Venture Partners, while UDEX had raised over $20 million in VC funding from firms like 3i Group, Northbridge […]