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.
To end your week, there's news that Blackberry's CEO gets a nice payout if the company is sold and he is ousted, Google block MSFT's YouTube app for the Windows iPhone and the best cities to get pizza.
1 min read · 16 August 2013
The National Hockey League announced Thursday that David Blitzer and Joshua Harris completed the purchase of the New Jersey Devils hockey team from the current ownership group controlled by Jeffrey Vanderbeek. Financial terms weren't announced but a press report said the group led by Harris will pay more than $320 million. The deal includes the team’s long-term operating interest in the Prudential Center and related assets. Scott O’Neil, CEO of the Philadelphia 76ers, will take on the additional role of CEO of the New Jersey Devils and the Prudential Center. David Blitzer is a Senior MD of Blackstone Group, while Joshua Harris is Co-Founder of Apollo Global Management.
4 min read · 15 August 2013
Spectrum Equity, which unveiled two separate deals this week, appears close to start fundraising for its next pool.
2 min read · 15 August 2013
Mercator Medsystems has appointed Anthony B. Remington as Chief Commercial Officer effective immediately. Remington has served as a strategic sales advisor for Mercator since January. San Leandro, Calif.-based Mercator is a medical technology company.
2 min read · 15 August 2013
PNC Bank closed of $40 million in senior secured financing for the Tranzonic Companies. The funds were used for the acquisition of Tranzonic by Silver Oak Services Partners. Cleveland-based Tranzonic makes and distributes cleaning, maintenance and personal protection products for the away-from-home market.
1 min read · 15 August 2013
DivvyHQ has received funding from Digital Sandbox KD and Dundee Venture Capital. The company has also hired Stacey Morse to be its VP of business development. DivvyHQ, of Kansas City, is developing a content marketing and editorial calendar application.
2 min read · 15 August 2013
Swiftype has raised a seed round of $1.7 million from institutional investors Andreesen-Horowitz Seed, NEA, Kleiner Perkins and Ignition. Angel investors included Sam Altman, SV Angel, Alexis Ohanian, Paul Buchheit, Crunchfund, DST/Start Fund, Garry Tan, Harj Taggar, Jared Kopf, William Morris Endeavor, Data Collective, Scribd founders Jared Friedman and Trip Adler, and Tikhon Bernstam. Swiftype, a startup, is developing a search engine.
3 min read · 15 August 2013
The Abraaj Group said it has invested in Republika Academic Apartments. Financial terms weren't announced. BLG Capital also invested. Republika Academic Apartments, of Istanbul, consists of two student accommodation assets totaling 1274 beds.
2 min read · 15 August 2013
To start your Thursday, a study says that Facebook makes people feel worse about life, Cisco is cutting 4,000 jobs and A-Rod is reportedly threatening to sue MLB.
1 min read · 15 August 2013
Rosa Mexicano, which is backed by Goode Partners, said Wednesday that Tom Dillon was named President and CEO. Dillon will start on Aug. 19. Most recently, Dillon was President and COO of Patina Restaurant Group. Dillon replaces Howard Greenstone as Rosa Mexicano's President and CEO. Greenstone, who is also one of Rosa Mexicano's cofounders, will remain engaged as part of the company's board of directors, the company said.
3 min read · 15 August 2013
