03/07/12

03/07/2012

Acquisitions:

Transcend Services (NasdaqGS:TRCR), a medical-transcription and clinical documentation services provider, was acquired for $300 million in cash at 2.4x revenue and 11.5x EBITDA by Nuance Communications, which offers voice-enabled clinical documentation and analytics products and services. The deal is expected to increase the number of small to midsize hospitals in Nuance’s customer base.

Chime Communications PLC (LSE: CHW), a U.K.-based provider of communications services in the advertising, marketing, and public relations fields, has entered into a conditional agreement to acquire iLUKA, a provider of sporting events management solutions, for an initial consideration of approximately $11 million. The firm also announced that it has made three other acquisitions, namely 100 percent of McKenzie Clark, a sports based graphic and digital design business, for $0.9 million, a 60 percent interest in youth marketing company Rough Hill for $0.8 million, and a 40 percent interest in StratAgile, a Singapore-based data analytics company for $0.3 million. In February 2012, the company acquired medical communications group Succinct for $3.1 million as a part of the development of Chime’s healthcare business Open health.

IFM Group, a sports research and evaluation agency offering services that span from the analysis to performance monitoring, was acquired by RSMG Insights, which operates a global platform in sponsorship monitoring, analysis, and valuation to the sports business market. IFM Group owns IFM Sports in Germany and IFM Sports Marketing Surveys in the U.K. Terms were not disclosed.

Setlist.fm, which provides a free wiki-like service to collect and share live music setlists, was acquired by Live Nation Entertainment (NYSE:LYV), a live entertainment company that promotes music events in its owned and operated venues. Terms were not disclosed.

HipChat, which provides a private instant messaging network for companies, teams, and organizations, was acquired by Australia-based Atlassian, a provider of software for streamlining product development.

ReadySetWork, a provider of online and mobile employee scheduling services, was acquired by PrimePay, a provider of payroll, tax, HR, and benefit services. Through the acquisition of ReadySetWork, PrimePay continues its drive to provide a full suite of business solutions for small and medium-sized companies. Terms were not disclosed.

Investments:

Education Elements, a startup offering schools a suite of design services and a SaaS-based learning management system to enable personalized education and small-group instruction, raised $6 million in Series A financing led by Harmony Partners, with contributions from Rethink Education, Anthos Capital, and prior investors Imagine K12, NewSchools Venture Fund, and Tugboat Ventures. The company previously raised $2 million.

BlogFrog, which operates a social activation platform that partners brands and digital influencers to power and amplify online conversation, raised $3.2 million in Series A financing led by Grotech Ventures. The company will use the funds to double its headcount before the end of 2012 and open an additional office in New York City to serve their growing base of agency clients.

Kismet, which provides a mobile app that shows users how they’re connected to everyone they encounter and which friends they have in common, raised $1 million in funding led by TriplePoint Ventures, with participation from New Enterprise Associates and private investors.

PlayMob, a U.K.-based platform operator that enables digital content providers to monetize their products through in-game charity sponsored micro-payments, raised $0.8 million in seed funding from NESTA and Midven alongside angel investors. Playmob’s GiverBoard lets charities fundraise by allowing players of social games to buy virtual items linked to a charity. The company will use the funding to expand from 8 employees to 13.

Other:

Roku, which operates an Internet TV platform, is seeking to raise up to $50 million in new funding, according to Bloomberg. The company previously raised approximately $22 million from Globespan Capital Partners and Menlo Ventures.

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