Los Angeles-based Oversee.net, which operates comparison shopping sites across the travel and financial services industries, has acquired ShopWiki. Financial terms of the deal were not released. Formed in 2005, ShopWiki was backed by private investment firm Generation Partners. Generation Partners has offices in Greenwich, Conn; San Francisco and Austin.
4 min read · 28 January 2011
Private equity firm Symphony Technology Group has added Marshall Haines as managing director. Haines joins from Williston Financial Group, where he was chief operating officer. In his new post, he will focus on sourcing and executing investments. Symphony Technology is based in Palo Alto, Calif.
2 min read · 28 January 2011
Menlo Park, Calif.-based venture capital firm Trinity Ventures has promoted Dan Scholnick to general partner. Scholnick joined Trinity Ventures in 2007. Previously he was at Wily Technology, where he built the first version of that company's application performance management product. He also founded Flurry, the leading user analytics platform for mobile applications.
2 min read · 28 January 2011
Private equity giant Blackstone Group is close to a deal with the Hotel Del Coronado to restructure its debt and take a majority stake in the property, Reuters reported, citing a story in the Wall Street Journal. The hotel, near San Diego, is currently owned by investors including Strategic Hotels & Resorts Inc., Kohlberg Kravis Roberts & Co. and KSL Resorts. Under the terms of the deal, Blackstone and those existing shareholders will contribut capital to cut the hotel’s debt load, Reuters said.
1 min read · 28 January 2011
Professional networking site LinkedIn is planning to raise up to $175 million in its initial public offering, Reuters reported, citing a regulatory filing. Formed in 2002, the company announced its plans for an IPO on Thursday. LinkedIn is backed by investors including Greylock Partners, Bessemer Venture Partners, Goldman Sachs and Sequoia Capital. Morgan Stanley, Bank of America and JPMorgan are among the bookrunners for its IPO, Reuters said.
2 min read · 28 January 2011
Buyout shops Permira and Kohlberg Kravis Roberts & Co. are considering selling their stakes in European broadcaster ProSiebenSat1, Reuters reported. KKR and Permira bought ProSieben for 3.3 billion euros in 2006.
3 min read · 28 January 2011
Buyout shop Parthenon Capital Partners said that it has recapped Social Service Coordinators Inc., and combined the company with existing portfolio company The Coding Source. Financial terms of the deal were not released. Social Service Coordinators provides revenue cycle management services for health plans. The Coding Source provides risk adjustment services to Medicare Advantage and Managed Medicaid plans. Parthenon has offices in Boston and San Francisco.
4 min read · 28 January 2011
Providence Equity Partners is among the investors who have acquired a controlling stake in Hong Kong broadcaster Television Broadcasts Ltd., Reuters reported. Media mogul Sir Run Run Shaw sold his stake in the firm to the investor group, which was led by Charles Chan, chairman of ITC Corp Ltd. The stake is estimated to be worth between $1.16 billion and $1.29 billion, Reuters said.
3 min read · 27 January 2011
Private equity firm Permira is in talks with Israeli holding company IDB Holdings Corp. to buy part or all of its 55% stake in Clal Insurance, Reuters reported. The price for the deal could reach as high as $1.04 billion for the IDB Holdings stake, Reuters said.
2 min read · 27 January 2011
Lake Forest, Illinois-based Actient Pharmaceuticals has acquired Timm Medical Technologies. Financial terms of the deal were not released. Timm Medical develops products and services for the diagnosis and treatment of urological disorders. Actient was formed in 2009 in partnership with Chicago-based private equity firm GTCR. Timm Medical is Actient’s second acquisition.
2 min read · 27 January 2011
