Daily Deal Activity 02/18/14

Noteworthy:

healthcare software

Healthcare IT company Multiplan, which provides cost management solutions for healthcare insurers, was acquired by Star Investment Holdings and Partners Group from BC Partners and Silver Lake Partners for $4.4 billion. BC Partners and Silver Lake Partners had purchased the company back in mid-2010 for a reported $3.4 billion. With the new investment Multiplan will have the strategic support to further grow the company. MultiPlan helps healthcare companies manage costs and measure financial risks, working with more than 900,000 health-care providers and handling about 40 million claims annually.

Digital Media/Commerce

classifieds/auctions/p-to-p

China-based Cheyipai, which provides a platform for online sales of second-hand vehicles with an online-to-offline eCommerce model for the complete transaction process, has raised $50 million in funding led by Sequoia Capital, with participation from Morningside, Matrix Partners, and CITIC Capital. The company intends on using the funds to optimize the service experience and further expand its national network.

ecommerce

Germany-based Outfittery, which operates an online men’s apparel retail portal providing consumers with personal shoppers to curate customized outfits, has raised $16.7 million in funding led by Highland Capital Partners, with participation from Holtzbrinck Ventures, Mangrove Capital Partners, High Tech Grunderfonds, RI Digital Ventures, and Kreativwirtschaft. The company plans on using the funding to expand its men’s fashion line and further expand its international growth.

mobile content/apps, social media/apps

Canada-based GuestDriven, which provides a platform for real-time hotel guest interaction, has raised $3 million in Series A funding led by Plaza Ventures. The company plans to use the funds to expand geographically and develop their platform further. The new capital raised brings the company’s total funding to $4.5 million.

niche content

Technology blog and news site PandoDaily, has raised $1.2 million in Series A funding led by Base Ventures and Vegas Tech Fund, with participation from Accel Partners, Founders Fund, and angel investors. The company will use the new funds for growth initiatives such as acquiring NSFWCORP. The new round brings the company’s total funding to $3.5 million.

niche content

News network company Varsity News Network, which provides an athletic promotion service for schools, has raised $3 million in Series A funding led by Arsenal Venture Partners, with participation from First Step Fund, Grand Angels, Michael Angel Fund, Muskegon Angels, North Coast Technology Ventures, Northern Michigan Angels, RSL Venture Partners, and Start Garden. The funding will be used to expand nationally and provide its service on mobile devices.

Digital Advertising

local search

Italy-based RestOpolis, which provides a Web platform to book restaurants in real-time, access promotions, and publish reviews, has raised an undisclosed amount of angel funding. The company will use the fund to continue to expand operations.

Marketing Technology

commerce management

Sweden-based Tictail, which provides an online platform that allows brands and retailers to set up online stores, has raised $8 million in Series A funding led by Thrive Capital, with participation from Balderton Capital, Project A Ventures, Creandum, and individual investors. The company intends on using the new capital to open new offices across North America.

content management

UK-based Counterpoint Systems, which provides rights and royalty management services for the media and entertainment industries, was acquired by Vistex, which offers pricing, contract, and incentive management solutions. Terms were not disclosed.

content management

China-based TutorGroup, an online language learning platform that hosts 10,000 hours of course content, has raised $100 million in Series B funding led by Alibaba Group, Temasek, and Qiming Venture Partners. The company plans to use the funding to further grow its position across Asia, and also expand its presence in the Americas. The new capital raised brings the company’s funding to a total of $115 million.

social technology

Little Bird, which provides an influencer engagement technology for sales and marketing, has raised $1.7 million in seed funding. The round, which brought total funding to $2.7 million, was led by Oregon Angel Fund.  The new capital raised will be used to increase user engagement, commercialize the company’s APY, and grow sales and marketing efforts.

social technology

Czech Republic-based Socialbakers, a social media analytics company focusing on delivering real-time metrics from major social networks, has raised $26 million in Series C funding led by Index Ventures, with participation from Earlybird Venture Capital. The company intends on using the funds to expand internationally. The new capital brings the company’s funding to a total of $34 million.

Agency & Marketing Services

digital agency

Barnum Design and Wasabi Rabbit announced their intent to merger, which will operate under the name Wasabi Rabbit. The two agencies will integrate their client base, employees, and business strategies. Terms were not disclosed.

Traditional Media

consumer magazine publishing

UK-based hedge fund Better Capital has sold magazine publishing company Reader’s Digest UK to British media entrepreneur Mike Luckwell for $1.7 million. Better Capital purchased the magazine out of bankruptcy for $23.4 million. It is reported that Luckwell will expand Reader’s Digest business into a financial services business.

Technology & Communications

communications software

uReach Technologies, which offers voice, video, and unified messaging solutions and services, was acquired by IP switching systems provider Genband. The acquisition of uReach’s solutions enhances Genband’s offerings with a messaging portfolio designed to be deployed by global service providers. Terms were not disclosed.

Enterprise mobility

Xora, which provides mobile workforce management SaaS for businesses, was acquired by ERP and workforce management software company ClickSoftware Technologies for $14.7 million. The acquisition of Xora expands ClickSoftware’s distribution channels.

Software

erp software

AFS Technologies, which provides integrated business enterprise software solutions, was acquired by private equity firm Court Square Capital Partners. The acquisition will allow AFS to invest in current technology and solutions, as well as further expanding the company through strategic acquisitions. Terms were not disclosed.

financial software

Financial management and accounting software company Intacct, has raised $45 million in venture and debt financing. The $30 million venture funding was led by Battery Ventures, with participation from Bessemer Venture Partners, Costanoa Venture Capital, Emergence Capital, Sigma Partners, Split Rock Partners, and Morgan Creek Capital Management. The $15 million debt financing was from Silicon Valley Bank. The company intends on using the funds to further expand product capabilities. The investment brings the company’s total funding raised to $94.8 million.

hr software

UK-based Retain International, which provides resource planning, scheduling, and management software solutions, was acquired by UK-based business process outsourcing provider Capita (LSE:CPI). The acquisition will provide Capita scalable solutions to their core markets. Terms were not disclosed.

security software

Elastica, which provides cloud application security solutions to enterprises, has received $6.3 million in funding led by Mayfield Fund. The company has raised $12.6 million in funding to date.

security software

Google (NasdaqGS:GOOG) has acquired SlickLogin, a startup that uses sound to authenticate website logins by playing a uniquely generated sound through a user’s speakers, while an application running on the users mobile device would pick up the sound, analyze it, and sends the signal back to the site’s server confirming the users identity. The acquisition will allow Google to further develop security solutions to help provide a safer Web experience. Terms were not disclosed.

software development tools

DAX Technologies, which provides software products, software development, consulting, and support services within the information technologies space for communications service providers and governments, was acquired by Spirent Communications (LSE:SPT) for $37 million. The addition of DAX enables Spirent to help service providers with challenges they face when developing and managing new services in mobile and wireline network environments.

Information & Business Services

it consulting/systems integration

Avaya Government Solutions has sold its IT consulting services business to software development services provider Camber Corporation. The acquisition expands the opportunity to support and grow the information technology and consulting services within Camber’s organization, while allowing Avaya to streamline its focus on providing the Federal, State, and local governments. Terms were not disclosed.

it consulting/systems integration

Technology consulting and engineering services company Foliage Software Systems, was acquired by France-based Altran Technologies (ENXTPA:ALT), which also provides engineering and consulting services. This strategic acquisition will reinforce the Group’s offer in product development, a segment where Altran is already active through its subsidiary Cambridge Consultants. Terms were not disclosed.

it consulting/systems integration

UK-based Mokum Change Management, which provides information technology consultancy to corporate and institutional clients, was acquired by tax and auditing service firm PricewaterhouseCoopers. The acquisition is part of the PwC strategy to embed technology into its services. Terms were not disclosed.

rinting services

Holland-based People & Print Group, which provides a range of online printing services for businesses and consumers, was acquired by Vistaprint (Nasdaq:VRPT) for $32.9 million, at a valuation of 0.7x revenue, and 8.0x EBITDA. The acquisition will enable expanded product offerings for both Vistaprint and People & Print Group.

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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