News Corp. is exploring a sale of spin-off of troubled social entertainment site MySpace, Reuters reported. News Corp. has hired Allen & Co. to help with the exit, and is reportedly expecting the most interest in the site to come from private equity and venture investors. Myspace paid a whopping $580 million for MySpace in 2005.
2 min read · 25 February 2011
WI Harper Group, a Chinese venture capital firm, has added economist Heizo Takenaka to its advisory board. Takenaka is Japan’s former minister of state for financial services. At WI Harper, Takenaka will advise on global financial trends, emerging technologies, and international business opportunities, the firm said. WI Harper focuses on investments in technologies including clean technology and healthcare.
3 min read · 25 February 2011
Private equity firm Penta Investments sold its stake in Polish retailer Zabka for roughly 400 million euro ($553 million), Reuters reported. The buyer was private equity firm Mid Europa Partners, Reuters said.
1 min read · 25 February 2011
Private equity shop Kohlberg Kravis Roberts & Co. is planning to exit its investment in precision engineering company MMI Holdings through an initial public offering on the Singapore exchange, Reuters reported. The IPO could raise more than 1 billion Singapore dollars ($770 million). KKR took the company private in 2007 for 1.01 billion Singapore dollars.
1 min read · 25 February 2011
MD Start, a European venture investor and incubator focused on medical device technology, has added backing from venture capital firm Versant Ventures, and European medical device company, Sorin Group. Terms of the investment were not released. Based in Lausanne, Switzerland, MD Start aims to provide capital for European inventors focused on medical devices.
3 min read · 24 February 2011
Venture-funded Connecture has acquired Insurix, a provider of sales automation software to health insurance carriers and brokers. Financial terms of the deal were not released. Connecture is a provider of integrated Web-based sales, service and process automation solutions to the health insurance industry. The company is backed by investors including Chrysalis Ventures, SSM Ventures, Live Oak Equity Partners, Total Technology Ventures and Encubate Technology Ventures.
3 min read · 24 February 2011
2 min read · 24 February 2011
Education services provider Apollo Global has named Timothy Daniels president. Daniels most recently served as chairman and chief executive for Wall Street Institute, a provider of English instruction for individuals and corporate clients. He has also served as managing director for Sylvan Ventures, the venture capital investment arm for Sylvan Learning Systems. Apollo Global was formed in 2007 as a joint venture between Apollo Group and The Carlyle Group.
3 min read · 24 February 2011
Rock Hill Capital Group has completed a majority recapitalization of Alpha Technical Services Corp., a Pasadena, Texas-based provider of specialized industrial cleaning and hazardous waste disposal services. Financial terms of the deal were not released. Formed in 2008, Rock Hill Capital is a private equity firm that targets investments in middle-market and lower middle-market companies.
3 min read · 24 February 2011
Russian search engine company Yandex has picked Goldman Sachs, Deutsche Bank and Morgan Stanley to run a potential $1 billion initial public offering later this year, Reuters reported. Private equity firm Baring Vostock owns roughly 40% of the company, which aims to list on the Nasdaq market, Reuters said.
2 min read · 24 February 2011
