I've been a business reporter for a while. I've covered Wall Street, venture capital and now private equity. I'm always looking for a scoop or something to talk about. I'm the eternal optimist and am still waiting for the Chicago Cubs to win the World Series. Yes, I believe.
Siris Capital Group LLC has agreed to buy Xura Inc for about $643 million. Siris Capital is paying $25 a share cash for Xura, which has a 45-day “go-shop” to solicit alternative offers. Xura, of Wakefield, Massachusetts, designs and sells communications software. Cerberus Business Finance is providing debt financing.
8 min read · 24 May 2016
Jim Ford has joined Los Angeles 2024 as a Senior Advisor for Strategic Partnerships. Ford was previously a Managing Director with Oaktree Capital Management LP. Los Angeles 2024 is Los Angeles’ bid for the 2024 Olympic and Paralympic Games.
3 min read · 24 May 2016
Shoes For Crews LLC said May 24 it has entered into a letter of intent to acquire the Mozo® Shoes brand. Financial terms weren’t announced. Chinnok Asia LLC is the seller. Mozo provides culinary footwear that aim to meet the demands of chefs in the kitchen and dining environments. Shoes For Crews is a CCMP Capital portfolio company.
2 min read · 24 May 2016
Konfio said May 24 that it raised $8 million from the Accion Frontier Inclusion Fund managed by Quona Capital, QED Investors, Kaszek Ventures, and Jaguar Ventures. Konfio, of Mexico City, is an online lending platfor
5 min read · 24 May 2016
TA Associates said May 24 it acquired a majority stake in Professional Datasolutions Inc. Financial terms weren’t announced. Temple, Texas-based PDI provides ERP software and services to the convenience retail and petroleum wholesale marketer industries. Kirkland & Ellis LLP served as legal counsel to PDI. Weil, Gotshal & Manges LLP served as legal counsel to TA Associates.
4 min read · 24 May 2016
Jirnexu said May 24 that it raised $3 million in Series A funding led by DMP. Investors Celebes Capital, NTT DOCOMO Ventures, Nullabor, Tuas Capital Partners and Anfield Equities took part as well as private investor Steve Melhuish (CEO & Co-founder, PropertyGuru Group). Jirnexu, formerly Saving Plus, is a Southeast Asia fintech startup that provides financial comparison tools for consumers.
6 min read · 24 May 2016
To start your Tuesday, we have news that Apple's new MacBook Pro is rumored to have an OLED touch bar instead of function keys, a poll finds that a majority of Americans dislike both Hillary Clinton and Donald Trump and a 5,000 year old brewery has been unearthed in China.
1 min read · 24 May 2016
MSouth Equity Partners has acquired Southern Air & Heat Holdings LLC, a portfolio company of Pulte Capital Partners LLC. Financial terms weren’t announced. Southern Air & Heat provides service, repair and new installation services to the heating, ventilation, and air conditioning market. Quarton International advised Pulte Capital.
2 min read · 24 May 2016
OrbiMed said May 23 that it second Israel-focused VC fund closed with about $307 million in capital commitments. OrbiMed Israel Partners II will target all stages and sectors of the healthcare industry, with a focus on biopharmaceuticals, digital health, medical devices, and diagnostics companies in Israel. Where appropriate, Israel Partners II may co-invest with OrbiMed’s global private equity team.
2 min read · 24 May 2016
The Carlyle Group said May 20 that Kewsong Lee, who is currently Deputy Chief Investment Officer for Corporate Private Equity, will now also supervise the Global Market Strategies segment. Mitch Petrick, a Carlyle MD, is stepping down from the position and become a Senior Advisor to the firm. Petrick intends to form his own firm, Carlyle said. Glenn Youngkin, in addition to his current role as President & COO, will now also supervise the Energy and Natural Resources group. Kenneth Hersh will become Deputy Chief Investment Officer for Energy and Natural Resources, reporting to Carlyle Chief Investment Officer Bill Conway.
2 min read · 23 May 2016
