Daily Deal Activity 10/18/12


IBM (NYSE: IBM) is in talks to acquire Red Bend Software, a mobile software management company with offices in Israel and the U.S. The deal could be valued between $200 million and $250 million. Red Bend has raised over $30 million in venture capital funding from Coral Capital Management, Carmel Ventures, Greylock Partners, Infinity Venture Capital, Pitango Venture Capital, and Poalim Ventures.

First Telecom Services, a provider of bandwidth infrastructure services, has agreed to be acquires by fiber optics company Zayo Group, which provides bandwidth infrastructure and network-neutral colocation and interconnection services, for $110 million. Announcement of the pending acquisition comes just after the company completed acquisition of FiberGate, for $117 million.

Zmanda, a provider of open source backup and recovery software, was acquired by Carbonite (Nasdaq: CARB), which provides online backup solutions for consumers and small and medium sized businesses, for approximately $15 million. Zmanda had raised around $13 million in venture capital funding from BlueRun Ventures, Canaan Partners, and Helion Venture Partners.

Canada-based Metals Economics Group, a leading provider of global mining industry information and analysis, was acquired by business intelligence research company SNL Financial. This acquisition marks SNL’s entry into a fifth distinct vertical market, and represents the company’s first such expansion since the launch of its Media & Communications coverage in 2007. Terms were not disclosed.

The software investment arm of Trilogy Enterprises, which provides solutions for automotive and telecommunications companies to gather and analyze consumer data, and acquire customers,  announced that it has signed a definitive agreement to acquire four Progress Software businesses – Sonic, Savvion, Actional, and DXSI. Trilogy will combine the businesses to form the core of a new intelligent business process, application, and data management company. Terms were not disclosed.


BloomReach, which helps marketers optimize their Websites based on search patterns, has raised $25 million in Series C funding from NEA, Bain Capital Ventures, and Lightspeed Venture Partners. BloomReach has now raised $41 million.

U.K.-based 7digital, a digital media delivery company providing download stores that enables a client to browse and purchase MP3 downloads from a catalogue of tracks, raised $10 million in funding from undisclosed corporate investors. The news coincides with 7digital’s agreement with Research in Motion to power the music service for the new BlackBerry 10 operating system.

Validity Sensors, a maker of fingerprint scanning sensors and authentication technology, closed $10 million of a $20 million series E financing round. (It will close the second half in the next month.) The investment was led by TeleSoft Partners, with participation from Validity’s previous investors, including Crossslink Capital, Panorama Capital, Qualcomm Ventures, and Venture Tech Associates. The round brings Validity’s total funding to $78.6 million.

SaaS/cloud financial management company Intacct, has raised $13.5 million in a new funding round from existing investors, with Split Rock Partners leading the round with a $7.5 million investment. Bessemer Venture Partners, Emergence Capital, Sigma Partners, and Sutter Hill Ventures also participated. The remainder of the funding was made up by a $6 million line of credit secured from Silicon Valley Bank.

MongoHQ, which operates as a cloud-based hosted database solution that enables developers to manage remote Mongo databases, raised $6 million in funding from Trinity Ventures and a number of strategic investors. The company previously raised $0.4 million from Lerer Ventures, SV Angel, and Y Combinator.

Canada-based QuickMobile, a provider of branded mobile apps for meetings and events, closed a $3.3 million funding round led by BDC Venture Capital with contributions from Vancouver City Savings Credit Union and angel investors. In 2011, the company raised $2.6 million in equity funding from Vancouver City Savings Credit Union and angel investors.

Selectable Media, which specializes in creating online video to connect brands with engaged audiences, raised $2 million in Series A funding from Avalon Ventures. Selectable Media helps publishers better monetize their games and other content by creating incentives to watch high-CPM video advertising.

Quarri Technologies, an enterprise security-software company, secured a $1.3 million round of financing led by Houston Angel Network and Daylight Partners, joined by Texas Halo Fund. The company plans to use the funding to accelerate growth across the U.S. and international markets. Quarri raised $3 million in Series B funding in November 2011 led by Houston Angel Network, with participation from Daylight Partners and individual investors.

Enome (dba Goalbook), which operates a collaboration platform that helps teams of educators, students, and parents collaborate around personal learning plans, raised $0.9 million in seed funding led by NewSchools Venture Fund, with contributions from Rethink Education, Ed-Mentor, Patient Capital Collaborative, and private investors.

CompStak, which provides a crowdsourced real estate information platform for Manhattan commercial leases, raised $0.565 million in funding in a round led by 500Startups. The company sells its data to banks and private equity while trading it to real estate agents and landlords for more data.

Marinexplore, provider of a collaboration platform for searching and analyzing ocean data, closed a seed funding round led by Intertrust Technologies and including private investors. Valuation was not disclosed.


Virgin Mobile Latin America is planning to raise between $45 million and $50 million in new financing to expand its operations into Colombia and Brazil. Earlier this year, Virgin Mobile Latin America raised $26.5 million in an April round of financing from initial investors Virgin Group and ePlanet Capital . New investors such as Hermes Growth Partners and the U.K.-based family investment firm Souter Investments also invested.

About Petsky Prunier
Petsky Prunier is one of the leading investment banks to the technology, media, marketing, eCommerce, and healthcare industries. Our firm's merger and acquisition and private placement 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. We offer global reach supplemented through our partnerships in China and India. Securities transactions are processed through Petsky Prunier Securities LLC, a member of FINRA, and an affiliated entity.

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