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.
Wex Inc. said Monday that it has agreed to buy Electronic Funds Source LLC for about $1.1 billion cash. Wex is also issuing 4 million shares of common stock to Warburg Pincus. Once the deal closes, Warburg will become Wex’s largest shareholder. Electronic Funds provides corporate payment solutions for fleet and corporate customers. BofA Merrill Lynch advised Wex.
6 min read · 19 October 2015
New State Capital Partners has invested in NWN Corp. Financial terms weren’t announced. NWN’s management team is also investing. NWN provides information systems services and solutions. Chin Pandya at Houlihan Lokey and Steven Navarro at Morgan Lewis advised New State Capital. Jonathan Ohm and Byron Nelson at Deloitte Corporate Finance provided financial advice to NWN.
4 min read · 19 October 2015
Abingworth said Monday that Shelley Chu MD, PhD has joined Abingworth as a Partner. Chu was previously with Gilead Sciences where she led Business Development in Oncology, Immunotherapy and Hepatitis B, as well as R&D Strategy.
2 min read · 19 October 2015
Surgical Theater LLC said Monday it raised $9 million in a Series A round of financing led by HTC Corp. and Shanghai Creation Investment Management Co. Ltd. Cleveland-based Surgical Theater provides Virtual Reality and Image Guidance software for healthcare.
3 min read · 19 October 2015
AppSheet said Friday that it raised $1.5 million in Seed funding from New Enterprise Associates. Seattle-based AppSheet provides a code-free platform for creating and deploying mobile business apps.
3 min read · 19 October 2015
UserZoom Technologies has completed a $34 million financing led by TC Growth Partners. Trident Capital and StepStone Group also invested. San Jose, California-based UserZoom provides a research & testing SaaS platform.
3 min read · 19 October 2015
Rent the Runway said Friday that Scarlett O'Sullivan has joined as CFO while Maureen Sullivan has also joined as President of the Events Business. O'Sullivan was previously a Partner at SoftBank Capital. Maureen Sullivan previously worked at AOL as President of AOL.com and Lifestyle Brands.
3 min read · 19 October 2015
Micronics Filtration Holdings Inc., a portfolio company of Vance Street Capital LLC, has acquired United Process Control Inc. Financial terms weren’t announced. Hillsborough, New Jersey-based United Press provides baghouse inspection, mechanical repair, bag change outs and aftermarket parts to customers in the power, steel, cement, chemical, and food industries across the United States.
3 min read · 19 October 2015
LinkNYC, a communications network that promises free Wi-Fi to New Yorkers, may finally unveil some of its kiosks this year.
3 min read · 16 October 2015
First Data said Wednesday that it priced 160 million shares at $16 each, below its expected $18 to $20 IPO price range. First Data is expected to begin trading later Thursday on the New York Stock Exchange under the ticker “FDC.” Underwriters on the deal have the option to buy another 24 million of shares at the IPO price. Citigroup, Morgan Stanley, BofA Merrill Lynch and KKR are joint book runners on the deal. First Data is portfolio company of KKR.
3 min read · 15 October 2015
