Edline, which is backed by buyout shop Providence Equity Partners, has acquired online education company TH(i)NQ Ed. Both Edline and TH(i)NQ ED develop online products designed for K-12 education. Terms of the deal were not released. MHT Partners served as Edline’s exclusive financial advisor in the transaction.
3 min read · 08 June 2011
Harris Williams & Co. has promoted thirteen employees spread across its London, Minneapolis and Richmond offices. Tim Alexander, James Clark, Derek Lewis, Patrick McNulty and Cheairs Porter have each been promoted to managing director. Joe Conner, Brian Lucas, Francois Morin, Chris Rogers and Geoff Smith have each been promoted to director. Jershon Jones, John Klim and Luke Semple have each been promoted to vice president.
4 min read · 08 June 2011
Austin Ventures has named Stephanie Lucie general counsel and chief compliance officer with the firm. Lucie previously held management positions with Entorian Technologies, Cirrus Logic, and Compaq Computer Corp. Texas-based Austin Ventures has $3.9 billion under management.
2 min read · 08 June 2011
Private equity shop Spectrum Equity Investors has paid $50 million for a minority stake in SeamlessWeb, a site that allows consumers to order restaurant delivery over the Internet. The firm is buying the stake from ARAMARK Corp. The company will use the infusion to help with expansion and possible acquisitions, the company announced in a press release Wednesday. Kirkland & Ellis LLP served as legal advisor to Spectrum.
4 min read · 08 June 2011
Dowden Health Media, which is owned by middle-market buyout shop High Road Capital Partners, has acquired Priority Integrated Marketing. Terms of the deal were not released. Priority Integrated Marketing is based in Minneapolis, and focused on the healthcare and financial services sectors. Dowden is based in Montvale, New Jersey.
3 min read · 07 June 2011
A sale of Polish mobile operator Polkomtel will close in June, Reuters reported, citing comments by the chief executive of KGHM, which co-owns Polkomtel. The sellers – Vodafone, and a group of Polish state-linked companies including KGHM – expect to fetch up to 18 billion zlotys ($6.5 billion) in a sale. Private equity firm Apax Partners and a joint venture of Telenor and Bain Capital are among potential buyers.
1 min read · 07 June 2011
FTV Capital has invested $30 million into independent fund administration company Apex Fund Services, inking a minority stake in the company. Apex will use the money to expand its client services, which include supporting middle and back office fund administration, risk reporting and corporate secretarial and fund formation administration, as well as specialist start up services to asset managers, the company said. FTV Capital has more than $1 billion under management across three funds, and has offices in San Francisco and New York.
4 min read · 07 June 2011
Los Angeles-based cloud gaming company Gaikai Inc. has named Brendan Iribe as its chief creative officer and senior vice president of user experience. Iribe was previously the co-founder, president and chief executive of Scaleform, a gaming user interface company bought by Autodesk in March. Gaikai is backed by Benchmark Capital, TriplePoint Capital, Rustic Canyon Partners, Limelight Networks and Intel Capital.
2 min read · 07 June 2011
Energy storage and renewable fuel technology company Sun Catalytix Corp. has named Mike Decelle as its first president and chief executive. Decelle was previously the chief executive of LumenZ, a Boston-based start-up developing LED technology. Based in Cambridge, Mass., Sun Catalytix is backed by Polaris Venture Partners, the Tata Group and the U.S. Department of Energy’s Advanced Research Projects Agency.
2 min read · 07 June 2011
Social lending website Prosper.com has added $17 million in new funding from new investors Draper Fisher Jurvetson and Crosslink Capital, as well as return backers Accel Partners, CompuCredit, Omidyar Network, TomorrowVentures, and Volition Capital. As a result of the round, Tim Draper, founder and managing director of Draper Fisher Jurvetson, and Crosslink General Partner Jerome Contro will join the Prosper board. To date, Prosper has raised $74.85 million in venture capital.
6 min read · 07 June 2011
