Daily Deal Activity 10/19/12


India-based TCS e-Serve, which engages in providing business process services to the banking and financial services, travel, tourism, hospitality, and energy and utilities industries, sold its remaining 3.74 percent stake for 36.5 million to India-based Tata Consultancy Services (BSE:532540), which provides IT services, business solutions, and outsourcing services. The transaction gives TSC e-Serve an enterprise value of $823 million, and a valuation of 2.3x revenue and 5.6x EBITDA. The company’s operations include delivering core business processing services, analytics/insights, and support services for data and voice processes.

Rovion, which operates a rich media ad management platform for scalable, engaging ads that its clients can create, control, and deliver, was acquired by Gannett (NYSE:GCI), from Local (NasdaqCM:LOCM), a local media company specializing in connecting brick-and-mortar businesses with online customers using various digital marketing products. Terms were not disclosed.

Australia-based EatNow, which operates an online food ordering and delivery service, was acquired by online retail company Catch Group. The Catch Group is owned by a consortium including Tiger Global Management, Consolidated Press Holdings, and Gannet Capital. Catch has also purchased online food ordering sites Takeaways.com.au and Mytable.com.au, and plans to incorporate the technologies and functions of those sites into EatNow. Terms were not disclosed.

Turkey-based EFEM International Fair & Organization, a tradeshow organizer specializing in mother/baby as well as recreational activities, sold a 70 percent stake to United Business Media (LSE:UBM), which engages in the provision of data, media, and B-to-B communications and marketing services. Terms were not disclosed.

Canada-based Skoreit.com, which operates an online auction site, was acquired by Canada-based Beezid.com, which also operates an online auction shopping site. SkoreIt has been operating for over three years and is known as a sports-themed penny auction site. Terms were not disclosed.

Canada-based Artefact, which provides clinical software for healthcare organizations, was acquired by Logibec Groupe Informatique, a portfolio company of OMERS Private Equity. The company was purchased from LGS Group Consulting, an IBM (NYSE:IBM) company. No financial terms were disclosed.

IT consulting company Namtra Business Solutions, which provides information security, business process management, and software development services, was acquired by Orion Systems Integrators, an IT products and services provider. Upon completion of the transaction, Namtra became a fully owned subsidiary of Orion Systems. Terms were not disclosed.

OpenTech Systems, a provider of software for both physical and virtual tape data migration for IBM Systems, has sold substantially all its assets to Rocket Software. The company’s solutions are used by storage vendors, service providers, and large enterprises. Terms were not disclosed.


Founders Club, which operates a Website that picks promising startups and lets people invest in them over the Web in return for equity, raised $6 million in seed funding from A-listers YC, First Round, and private investors.

Acumen Brands, an eCommerce company that sells outdoor apparel, work wear, nursing scrubs, and baby gear products, raised $5 million in funding from undisclosed investors.

Italy-based startup and cross-platform development solution company AppsBuilder, raised $2 million in funding, following its undisclosed seed round from 2011 and led by Italian angel investors, with participation from Vertis Venture and Zernike Meta Ventures. The company, founded in 2010, plans to use the funding to help expand further internationally.

Appy Couple, which lets brides create an entirely unique app for their wedding, raised $1.2 million in funding led by ff Venture Capital’s John Frankel. Guests, members of the wedding party, relatives, etc. can access the app in the App Store and interact with the information.

Zagster, a bicycle-sharing company formerly known as CityRyde, has raised $1 million roll out its bike-sharing service nation-wide. LaunchCapital led the round, joined by Fontinalis Partners and Boston-area individual investors. The company plans to use the funding to hire sales and operational support staff and to advance its bike-sharing software.

Namely, a provider of cloud-based business-management software, raised $0.75 million in a funding round led by Lerer Ventures and joined by Bullpen Capital. Namely’s service enables companies in industries such as advertising, media, and technology to plan, build and manage teams of people in the cloud, with features including team structures, scenario planning, and performance data. The company launched in January backed by $1 million in funding from more than a dozen individual investors.

Music startup Musicplayr, which offers a service that allows users to collect and listen to songs from YouTube, SoundCloud, Vimeo, DailyMotion, and music blogs, is now exiting its private beta period with $0.65 million in seed funding led by Lars Langusch of Holzbrink Ventures.


Online room rental service Airbnb is in discussions with venture capitalist Peter Thiel about a roughly $150 million investment that would value the company at approximately $2.5 billion. The company’s existing investors, including Andreessen Horowitz and Sequoia Capital, are expected to also participate in the round. Founded in 2008, Airbnb has raised $120 million in financing to date, including a $112 million round that valued the company at around $1.3 billion last year.

Gilt Groupe has put its Jetsetter unit up for sale and is seeking as much as $50 million for the luxury travel site. The Internet-based fashion company has been pitching Jetsetter to other online travel companies, private equity firms and other players in the past several weeks.


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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