Private Equity
SchoolNet Inc., a New York-based developer of instructional management software for K12 school districts, has merged with CampusWare, a San Antonio, Texas-based provider of a Web-based and standards-aligned district grade book. No financial terms were disclosed. SchoolNet has raised around $41 million in VC funding from The Carlyle Group, Ascend Ventures, Hamilton Lane and the New York State Common Retirement Fund.
3 min read · 25 February 2009
Visto Inc., a Redwood City, Calif.-based mobile email company, has agreed to acquire Good Technology from Motorola Inc. No financial terms are being disclosed for the deal, which is expected to close later this month. Motorola had acquired Good Technology for more than $400 million in 2007, from venture capital firms. Visto has raised over $250 million in total VC funding since 1996, including a recap round in 2003. Current backers include Allegis Capital, Altitude Capital Partners, Blueprint Ventures, Draper Fisher Jurvetson, ePlanet Ventures, GKM Ventures, Meritech Capital Partners, Oak Investment Partners and Rustic Canyon Partners.
3 min read · 24 February 2009
Digini Inc. and Vyk Games have merged to form Blade Games Inc., a company that will provide both game development systems and outsourcing services. It will be led by former Digini CEO Tony Garcia, with former Vyk CEO serving as president. Digini had raised a small amount of funding from California Technology Ventures, while Vyk had raised capital from China Seed Ventures.
3 min read · 19 February 2009
Trustwave Corp., an Annapolis, Md.–based provider of on-demand data security and payment card industry compliance management solutions, has acquired Mirage Networks Inc., an Austin, Texas-based provider of network access control technology. No financial terms were disclosed. Trustwave has raised $10 million from FTV Capital, while Mirage had raised over $50 million from firms like Adams Capital Management, CenterPoint Venture Partners, StarTech Early Ventures, Rembrandt Venture Partners and Trinity Ventures.
3 min read · 19 February 2009
GroSolar, a White River Junction, Vermont-based solar energy startup, has agreed to acquire the residential solar division of Borrego Solar Systems, which operates in California and Massachusetts. No financial terms were disclosed. GroSolar has raised over $16 million from NGP Energy Technology Partners, SJF Ventures, Calvert Social Funds, and Allco Financial Group.
6 min read · 19 February 2009
Boundless Network Inc., an Austin, Texas-based promotional merchandising company, has acquired Texas distributor Corporate Solutions. No financial terms were disclosed. Boundless has raised around $8.5 million in VC funding from firms like Austin Ventures and Silverton Partners.
2 min read · 10 February 2009
StillSecure, a Superior, Colo.–based provider of secure network infrastructure solutions, has acquired ProtectPoint Security Inc., a Ft. Lauderdale, Fla.-based provider of managed security services. No financial terms were disclosed. StillSecure has raised nearly $30 million in VC funding from 3i Group, Meritage Private Equity Funds and Mobius Venture Capital. Late last year it also raised $5 million in venture debt funding from Silicon Valley Bank.
3 min read · 09 February 2009
Handmark Inc., a Kansas City-based provider of mobile phone applications, has agreed to acquire FreeRange Communications, a Portland, Ore.-based provider of a mobile publishing platform. No financial terms were disclosed. Handmark has raised around $11.5 million in VC funding, from firms like Apax Partners, Argnor Wireless Ventures, Borealis Vetures, Motorola Ventures and Village Ventures.
3 min read · 06 February 2009
GameFly Inc., a subscription-based videogame rental company, has acquired Shacknews Ltd., operator of gaming news site Shacknews and gaming digital download site FileShack.com. No financial terms were disclosed. GameFly has raised venture capital from Lehman Brothers Venture Partners and Sequoia Capital.
3 min read · 05 February 2009
Mind Candy Inc., a London-based developer of online games for kids, has acquired Tutpup, a site that allows kids from around the world to play each other in multi-player math and spelling challenges. Tutpup had been developed by Cominded Ltd., a firm owned by Bebo co-founder Paul Birch. No financial terms were disclosed. Mind Candy has raised over $10 million in VC funding from Accel Partners and Index Ventures.
3 min read · 05 February 2009
