Private Equity
Juniper Networks Inc (NYSE: JNPR) has agreed to acquire BTI Systems Inc, an Ottawa-based provider of cloud and metro networking services. No financial terms were released about the deal, which is expected to close in the second quarter of 2016. Sunnyvale, Calif.-based Juniper, a networking equipment maker, said the acquisition will allow it to accelerate the delivery of open and automated packet optical transport solutions. Founded in 2000, BTI Systems has raised nearly US$122 million in funding, according to Crunchbase. Its investors include Bain Capital Ventures, BDC Capital, Covington Capital, Difference Capital Financial, Kodiak Venture Partners and Wellington Financial.
2 min read · 27 January 2016
Goodbox has acquired India-based SmartPocket, a mobile wallet that lets users digitize their plastic cards. No financial terms were disclosed. Goodbox is backed by Nexus Venture Partners.
2 min read · 27 January 2016
San Francisco-based AppDirect has acquired Radialpoint, a Canadian tech support provider that has been backed for nearly eight years by U.S. private equity firm TA Associates. It is the fifth acquisition of AppDirect, a cloud service commerce platform founded in 2009 by Montréal-born entrepreneurs Daniel Saks and Nicolas Desmarais.
3 min read · 27 January 2016
Sony Corp (6758.T) said it will buy Israeli chipmaker Altair Semiconductor for $212 million, stepping up its investment in chip technology after strong sales of camera sensors in the last few years helped turn around the business, Reuters reported.
1 min read · 26 January 2016
Rupert Murdoch's News Corp said rumors about the company's interest in buying microblogging site Twitter Inc or building a stake in it were untrue, Reuters News reported.
2 min read · 20 January 2016
TeraXion has agreed to sell its high-speed photonics components assets to U.S.-based network specialist Ciena Corp (NYSE: CIEN) for about $46.6 million in cash. Ciena said the acquisition will advance its market role in high-speed optics and enhance its ability to develop differentiated solutions. Following the deal, TeraXion said it will continue to operate its fibre-optic communication, fibre lasers and optical sensing applications business from its headquarters in Québec City. Founded in 2000, TeraXion raised funding from a number of Canadian venture capital firms. It continues to be backed by several investors, including the Fonds de solidarité FTQ.
3 min read · 19 January 2016
StormFisher Environmental Ltd has acquired London Energy Garden, an anaerobic digester, from a Canadian affiliate of Harvest Power Inc. No financial terms were released. Harvest Power, a Waltham, Massachusetts-based organics management business, developed London Energy Garden, which turns organic waste from southwestern Ontario into renewable energy and natural fertilizers. The company is backed by True North Venture Partners, Industry Ventures and Generation Investment Management.
2 min read · 12 January 2016
Canadian department store operator Hudson's Bay Co (TSX: HBC) has agreed to acquire Gilt Groupe Holdings Inc, an online shopping destination based in New York. HBC agreed to pay US$250 million in cash in a deal that is expected to close by February 1st. The acquisition is expected to contribute about US$500 million to HBC’s total 2016 sales and provide opportunities for the company to accelerate the growth of its digital platform. Founded in 2007, Gilt has raised US$271 million in venture capital funding, according to Thomson Reuters' data. Its investors include General Atlantic, Goldman Sachs, NEA and SoftBank. HBC has been backed by NRDC Equity Partners since 2008.
7 min read · 07 January 2016
Luma has acquired Nodal Industries, an internet of things security startup. No financial terms were disclosed. Luma's backers include Felicis Ventures, Relay Ventures, Base Ventures and Webb Investment Network while Nodal was backed by 500 Startups.
4 min read · 07 January 2016
Canadian department store operator Hudson's Bay Co has agreed to buy online luxury retailer Gilt Groupe Holdings Inc for about $250 million, Reuters News reported.
1 min read · 07 January 2016
