Daily Deal Activity 07/06/12


microDATA GIS, a provider of next generation 9-1-1 software and solutions, was acquired by TeleCommunication Systems (NasdaqGS:TSYS), a leader in highly reliable and secure mobile communications technology. The aggregate acquisition consideration is approximately $37 million, comprised of $20 million in cash at closing, plus $14 million in promissory notes and performance-based earn-out opportunities. microDATA expects to generate more than $20 million in systems and services revenue in 2012, with 30 percent to 35 percent EBITDA margins.

PeopleCube, a provider of on-demand scheduling management and facility management software solutions, was acquired by Asure Software (NasdaqCM:ASUR), which also offers on-demand workforce management software and services. The deal is valued at approximately $14 million, including an up-front cash payment of $9.8 million. PeopleCube raised $17 million in 2007 from Big Bang Ventures and Truffle Capital.

Le Jardin de Catherine, which operates an online home and garden design shopping site, sold a 75 percent stake for $14.2 million to France-based do-it-yourself retailer Mr. Bricolage (ENXTPA:MRB). Based on 2011 financials, the transaction valued the company at 0.6x revenue. Mr. Bricolage also holds the call option to buy the remaining 25 percent of the capital from the founders, in 3 to 5 years, subject to future performance.


France-based Arkadin, a provider of collaboration services such as videoconferencing and virtual events, sold a 45 percent stake to AXA Private Equity. No financial terms were disclosed. Sellers include Apax Partners, Altamir Amboise, Innovation Capital, and UFG-Siparex.

On the heels of a $9 million equity round, MapMyFitness has raised another $3 million from Square 1 Bank. MapMyFitness, which develops online fitness tracking programs, expects its revenue to triple in 2012, though it didn’t provide specific figures.

Clustrix, which offers a NewSQL database for transactional big-data applications, raised $6.75 million in convertible debt funding from existing investors Sequoia Capital, USVP, and ATA Ventures. The funds are being used as a bridge to an upcoming Series C round. Clustrix previously raised $12 million, including a Series B round that it closed in December 2010.

Quarterly, which offers an online subscription service to receive items in the mail from celebrities and organizations, raised $1.25 million in Series A funding from True Ventures, with participation from SV Angel, Initialized Capital, and Collaborative Fund. With its new capital, the company hired the former vice president of retail production at Green Dot, Tonya Michlin, as chief of operations.

YBuy, which provides a “try-before-you-buy” online shopping service, said it has raised a $1 million Series A round led by Tomorrow Ventures.

Mobile gaming startup Zipline Games, raised $0.75 million in funding, adding to a $2 million round that includes investors Founders Co-Op, Benaroya Capital, Groundspeak, and Pioneer Venture Partners. The company has 6 employees and hopes to use the funding to create more games and to increase development of its mobile gaming development platform.

Germany-based ePetWorld, which launched in January 2012 to offer dog and cat products online, raised an undisclosed amount funding. Blumberg Capital, Mountain Super Angel, and Point Nine Capital provided funding the company raised in April, along with undisclosed individuals. Further financial details weren’t disclosed.


Amazon’s (NasdaqGS:AMZN) announced acquisition of UpNext, a developer of detailed 3D maps for mobile devices, was reportedly valued at approximately $2.5 million.

About Petsky Prunier
Petsky Prunier is one of the leading investment banks in the technology, media, marketing, eCommerce, and healthcare industries. Our firm's mergers and acquisitions and private placements advisory services reflect a unique blend of product specialization and industry expertise. Together with strategic consulting firm Winterberry Group, a Petsky Prunier company, our organization represents one of the largest industry-specific advisors providing strategic and transactional services. In addition, we offer international reach through our partnership with investment bank Altium, which operates from nine offices across Europe. Securities transactions are processed through Petsky Prunier Securities LLC, a member of FINRA and an affiliated entity.

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