Private Equity
ProMetic Life Sciences Inc (TSX: PLI) has agreed to acquire Telesta Therapeutics Inc (TSX: TST), a Montréal-based company focused on the acquisition and development of therapeutics that treat cancer and other diseases. The deal, expected to close in November, will see ProMetic acquire Telesta's share capital at a price of $0.14 payable in ProMetic common shares. ProMetic, a Laval, Québec-based biopharmaceutical company, said the acquisition provides several strategic benefits. Founded in 1999, Telesta raised US$28.6 million from U.S. venture capital investors last year. ProMetic has secured funding from Thomvest Seed Capital.
5 min read · 24 August 2016
Scintilla Pharmaceuticals Inc, a subsidiary of Sorrento Therapeutics Inc, said Aug 15 that it agreed to buy Semnur Pharmaceuticals Inc for an initial payment of $60 million. Scintilla may also pay another $140 million in cash to Semnur's equity holders upon achievement of certain development, product approval and commercial milestones. Semnur, a specialty pharmaceutical company, is backed by Canaan Partners, Frazier Healthcare and Vivo Capital.
5 min read · 16 August 2016
Essilor International has agreed to buy MyOptique Group. Financial terms weren’t announced. Sellers include Acton Capital Partners, Beringea, Cipio Partners, Index Ventures, Korys and Highland Capital Europe. London-based MyOptique is an online optical retailer.
2 min read · 16 August 2016
Breezeworks has acquired Prompt.ly’s app business. No financial terms were disclosed. Eli-Shaoul Khedouri, a co-founder and CTO of Prompt.ly, has been added to Breezeworks' advisory board. Breezeworks' backers include Obvious Ventures, Harmony Partners, Max Levchin, and Peter Thiel while Prompt.ly's investors include Subtraction Capital, Rincon Venture Partners and Foundry Group.
3 min read · 11 August 2016
Intel Corp announced on Oct. 9 that it would acquire San Diego-based Nervana Systems, a developer of artificial intelligence systems. Nervana will help develop Intel's AI portfolio and enhance the deep learning performance of Intel Xeon and Intel Xeon Phi processors, the company said in a blog post. Nervana was founded in 2014 has raised slightly more than $25 million from investors, according to Thomson Reuters data. Backers include Allen & Co, AME Cloud Ventures, Data Collective, DFJ, Fuel Capital, Lux Capital and SV Angel, among others.
1 min read · 10 August 2016
Salesforce has agreed to buy word processing app Quip, according to a blog post on its site. No financial terms were disclosed; however, some media outlets have reported the amount to be $750 million. Quip is backed by Greylock Partners and Benchmark.
1 min read · 01 August 2016
PSA Group has acquired a stake in Autobutler, an online platform for car repairs. No financial terms were disclosed. Autobutler's backers include Index Ventures.
3 min read · 27 July 2016
European taxi e-hailing companies Mytaxi and Hailo are merging. No financial terms were disclosed. The newly formed company will be headquartered in Hamburg and run under the Mytaxi brand. Andrew Pinnington will become CEO. LionTree Advisors advised Hailo on the transaction. Hailo's backers include Union Square Ventures, Accel Partners, Wellington Partners, Atomico Ventures and Sir Richard Branson.
4 min read · 26 July 2016
Workday is planning on acquiring San Mateo, California-based Platfora, a big data discovery platform, the former announced in a blog post on its site. No financial terms were disclosed. Platfora's backers included HSBC, Harmony Partners, Allegis Capital, Andreessen Horowitz, Battery Ventures, Citi Ventures, Cisco, Sutter Hill Ventures and Tenaya Capital.
1 min read · 25 July 2016
Quikr has acquired Hiree, an online hiring platform focused on white collar jobs. No financial terms were disclosed. Quikr's investors include Tiger Global Management, Kinnevik, Warburg Pincus, Matrix Partners India, Norwest Venture Partners while Hiree was backed by IDG Ventures.
3 min read · 25 July 2016
