Google Inc. will pay $12.5 billion to buy Motorola Mobility Holdings Inc. The $40 per share offer represents a 63% premium to Motorola Mobility’s closing price Friday. The deal, Google said on its blog, will allow the company to “supercharge the entire Android ecosystem.” Google plans to operate Motorola Mobility as a separate business. The deal is expected to close by the end of 2011, or early next year.
3 min read · 15 August 2011
NewWorld Capital Group has acquired Cleaire Advanced Emission Controls, a maker of particulate matter and nitrogen oxides abatement products. Investors Ingleside Investors, North Sky Capital and Spring Mountain Capital also participated in the deal. Terms were not released. Cleaire is headquartered in San Leandro, Calif. with a manufacturing facility in San Diego. The company’s products are used by on-road and off-road heavy-duty diesel-powered vehicles.
3 min read · 15 August 2011
Bain Capital and Kohlberg Kravis Roberts & Co. have put in their final bids for Australian software maker MYOB Lt., Reuters reported Monday. The company, which is owned by Archer Capital and HarbourVest Partners, could fetch more than $1 billion. Archer and HarbourVest paid about A$450 million for the company in 2008.
1 min read · 15 August 2011
Italian motorcycle maker Ducati, which is owned by Milan-based private equity investor Investindustrial, could be floated in Hong Kong next year, Reuters reported, citing the Sunday Times. Investindustrial bought Ducati in 2008, and has restored it to profitability, Reuters said.
1 min read · 15 August 2011
Time Warner Cable is paying $3 billion in cash to buy Insight Communications Co. from the Carlyle Group, Reuters reported Sunday. Insight is the 10th largest cable operator in the United States, serving around 750,000 customers in Illinois, Indiana, Kentucky and Ohio. Carlyle acquired the company in December 2005.
2 min read · 15 August 2011
Light Blue Optics, an UK-based maker of holographic laser projection technology, has named Barak Maoz chief executive. The Company backed by investors including Robert Bosch Venture Capital, Earlybird Venture Capital, Capital-E, NESTA, Christie Digital Systems Canada Inc., Minaik, WhiteGold Fund Management and DFJ Esprit.
3 min read · 12 August 2011
Goldman Sachs is likely to invest about 600 billion won ($555 million) in South Korean private equity fund MBK Partners in its bid for Woori Finance Holdings, Reuters reported this week. The second round of bidding for Woori will close on August 17. Competing local firms TStone and Vogo Fund are also in the running.
2 min read · 12 August 2011
The Canada Pension Plan Investment Board, the country’s second largest pension plan and one of the world’s most active investors in private equity, saw its net assets rise to C$153.2 billion ($154.6 billion) in the second quarter, Reuters reported Thursday. That is up from C$129.7 billion a year ago. The Toronto-based CPPIB has C$24.1 billion (or 15.7% of its assets) invested in private equities.
2 min read · 11 August 2011
KidZui, the developer of an Internet browser for kids, has launched its Zui.com search engine for kids aged 3 to 12 years old. The site is backed by $2 million in financing from Mission Ventures, Maveron, Emergence Capital and Scholastic Corp. The company sealed $1 million this spring, and grabbed $1 million last fall. KidZui is based in San Diego, Calif.
3 min read · 11 August 2011
Middle market investor BNY Mellon-Alcentra Mezzanine Partners, which is a division of Alcentra and part of BNY Mellon Asset Management, has put $15 million in debt financing into oilfield products and services company Acis Offshore Technologies Inc. The financing supports the merger of Galathea Group and Proserv Group, two existing Intervale Capital portfolio companies. Acis will do business under the Proserv name.
3 min read · 11 August 2011
