Daily Deal Activity 05/09/14

Noteworthy:

eCommerce

Apple (Nasdaq:AAPL), has agreed to pay $3.2 billion to acquire Beats Electronics, a maker of headphones and operator of streaming music service. The acquisition would be one of the largest that Apple has yet made. The Carlyle Group had invested $500 million into Beats last fall at a valuation just north of $1 billion.

Marketing Technology

content management, Social media/apps

Delicious, a social bookmarking service for saving, sharing, and discovering web bookmarks, was acquired by Science from AVOS Systems. Terms were not disclosed.

content management

TwoBrightLights, a platform used by professional photographers to submit wedding photos, was acquired by XO Group, which provides multiplatform media services to the wedding, newlywed, and pregnancy markets. Terms were not disclosed.

Digital Media/Commerce

niche content

Tribune Publishing is acquiring the remaining 50 percent stake in news and image services provider McClatchy-Tribune Information Services (MCT), from The McClatchy Company (NYSE:MNI). Terms were not disclosed.

Digital Advertising

digital video

South Korea and San Francisco-based online video advertising company Shakr Media, has raised $3 million in funding led by POSCO Venture Capital, NHN, and 500 Startups. With the new funding the company plans on expanding its platform and team.

Agency & Marketing Services

general agency

Marketing services company Red Peak Group, which provides brand building, activation, and consulting services, was acquired by Japan-based Hakuhodo DY, a provider of solutions to advertisers, media companies, and content holders. Terms were not disclosed.

Traditional Media

newspaper publishing

Weekly newspaper The Detroit Metro Times, has announced its intent to merge with Real Detroit Weekly. The new company will maintain the Metro Times name. Terms were not disclosed.

Technology & Communications

financial technology

Bizequity, which provides online valuation tools that allow small businesses to estimate the market value of their businesses, was acquired by Dynasty Financial Partners, which provides investment and technology platforms for independent financial, investment, and wealth management advisors. Terms were not disclosed.

financial technology, Mobile technology

Sweden-based local mobile payment solutions provider iZettle, has raised $55 million in Series C funding led by Zouk Capital, with participation from Dawn Capital, Intel Capital, Creandum, Greylock Partners, Index Ventures, Northzone, and SEB Private Equity. The company, which has now raised over $80 million in funding, plans on using the funding to continue growth in existing markets.

Software

collaboration software

Secure file sharing and collaboration applications provider WorkShare, has raised $8.4 million in debt financing led by Wells Fargo Financial. The company, which has raised $63.6 million in funding to date, will use the new capital to accelerate the development of its products.

healthcare software

Oncology software and services company Altos Solutions, was acquired by a developer of an oncology data platform Flatiron Health. Previously Flatiron Health raised $130 million in Series B financing to fund the acquisition. Altos Solutions will operate independently as a wholly owned subsidiary of Flatiron Health. Terms were not disclosed.

product/price

Web-based inventory and order management software company Lettuce, was acquired by Intuit (Nasdaq:INTU), a provider of business and financial management solutions for small businesses, consumers, and accounting professionals, for $30 million. Prior to the acquisition, Lettuce had raised $4 million in funding from Telegraph Hill Partners, Crosscut Ventures, Baroda Ventures, Double M Partners, 500 Startups, Zelkova Ventures, and Launchpad LA.

Other

Omnicom Group (NYSE: OMC) and Publicis Groupe (Paris: PUB) have called off a $35 billion ad industry mega-merger, due difficulty with tax and regulatory approvals.

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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