Archive for the ‘Acquisitions’ Category
Monday, March 21st, 2011
 RESEARCH TRIANGLE PARK, NC – Overture Networks has completed its merger with Hatteras Networks. Known as Overture Networks, the combined company also reported $43.95 million from a financing connected to the merger, according to a regulatory filing, but the money was not new funding.
The company issued this statement in regard to the previous reports regarding the U.S. Securities and Exchange Commission filing:
Overture later issued a statement:
“On March 22, 2011, it was reported that “Overture Networks has closed on a fundraiser of nearly $44 million.” This is inaccurate. On March 18, 2011, a Form D filed with the Securities and Exchange Commission, a legally obligated, routine filing followed the recent merger between Overture Networks and Hatteras Networks that was announced March 1, 2011. As the company previously stated, it did not raise any additional cash related to the merger of Overture and Hatteras. As a privately held organization, Overture Networks does not disclose or discuss financial information.”
The merger deal, announced March 1, closed last week. The company revealed in a filing with the US Securities and Exchange Commission that it raised $43.95 million from 18 investors March 9.
Overture previously raised $17.2 million in April for a total of $62 million from investors who include Morgenthaler Ventures, Intersouth Partners, TDF Fund, Tenaya Capital and QuestMark Partners.
Former Overture CEO Jeff Reedy will head the combined firm as CEO and former Hatteras CEO Kevin Sheehan is president.
The company sells an Ethernet services platform.
Tags: Ethernet services platform, financing, Hatteras Networks, Intersouth Partners, Jeff Reedy, Kevin Sheehan, merger, Morgenthaler Ventures, Overture Networks, QuestMark Partners, TDF Fund, Tenaya Capital, venture capital
Posted in Acquisitions, Carolinas, Internet/New Media, Money, North Carolina | Comments Off
Monday, March 14th, 2011
 WASHINGTON, DC -LivingSocial, one of the major players in the group local deal space, has acquired Reston, VA-based InfoEther Inc., a pioneer and one of the leading technology consultancies specializing in the Ruby software development language and its related Web development framework, Ruby on Rails (“Rails”), which is the basis of the technology upon which LivingSocial and numerous other high profile online companies are based.
Financial details were not disclosed. The company says the acquisition will enhance it’s ability to innovate more effectively.
“Together, we can out-execute and out-innovate, which we consider to be one of our major differentiators and the underpinning of our future success,” said Aaron Batalion, CTO and co-founder of LivingSocial. “Their reputation in the technology community is a testament to their technical capabilities and nimble team, and when combined with LivingSocial’s proven excellence, we will dominate the local commerce marketplace.”
Established in 2001, InfoEther is believed to be the first US-based company that generated revenue from the open source Ruby language, which was created in Japan. Since 2007 it has specialized in the popular open source Rails framework, which is based on Ruby, in more than 40 client engagements internationally.
The company’s principals and staff, including Rich Kilmer, Chad Fowler and Glenn Vanderburg, are renowned technology conference organizers, speakers, authors and trainers in a range of technologies, which include Ruby and Rails, communications, security and mobile-based applications. The firm is also known for its user experience/interface and interaction design expertise critical to how people work with the technology, particularly with the growing popularity of the mobile Web.
We get this acquisition. The group local deals space is crowded, and while LivingSocial is a major player, it is going to have to stay on its digital toes to stay ahead of the competition, large and small. The venture-backed company, second only to Chicago-based Groupon in the group-buying local deals space, has raised about $224 million, including $175 million from Amazon. Groupon, which reported turned down a $6 billion buyout offer from Google, most recently raised $950 million. Smaller competitors, such as Raleigh-based Twongo, operate in many smaller markets.
At some point, we expect to see consolidation and thinning in the space through mergers, acquisitions and competition. Some of the smaller players may even have a shot at providing better, less expensive and more personal service in local markets.
LivingSocial launched a new local commerce program recently, Instant Deals in Washington, DC. Instant Deals help consumers discover immediate deals at restaurants and attractions within a .5 mile radius via their LivingSocial mobile application.
LivingSocial acquired majority stake in Let’s Bonus, one of the pioneer social shopping sites in Europe. Additionally, in 2010, LivingSocial acquired adventure company Urban Escapes and launched two new verticals including LivingSocial Escapes, a travel site offering unbeatable savings on curated adventures and LivingSocial Family Edition. In addition, the company has launched one market per day on average and expects to reach 300 markets in 2011.
The company recently gained a slew of customers but also stirred up some controversy with a half off Amazon coupon deal that went awry for some. –Allan Maurer
TechJournal South is a TechMedia company. TechMedia presents the annual conferences:
SoutheastVentureConference: www.seventure.org
Internet Summit: www.internetsummit.com
Digital East: www.digitaleast.com
Digital Summit: www.digitalsummit.com
Tags: acquistiions, Chad Fowler, DC, Glenn Vanderburg, Groupon, InfoEther, LIvingSocial, NC, Raleigh, Reston, Rich Kilmer, Ruby on Rails, Twongo, VA, venture capital
Posted in Acquisitions, Internet/New Media, Marketing, Money | Comments Off
Friday, March 4th, 2011
 SPRINGFIELD, VA – USA Mobility, Inc. (Nasdaq: USMO), a leading provider of wireless messaging and communications services, has acquired Amcom Software Inc. for $163.3 million in cash.
The acquisition was funded by $110.8 million of cash on hand and $52.5 million through a credit facility provided by Wells Fargo Capital Finance.
Vincent D. Kelly, USA Mobility president and CEO, said, “This acquisition is about combining two leaders in mission critical communications. USA Mobility’s three primary core market segments of healthcare, government and large enterprise are exactly aligned with Amcom’s customer segment focus.”
“USA Mobility is the undisputed leader in paging and wireless messaging — the foundation of mission critical communications today. Increasingly, however, mission critical communication is evolving. Pagers were once the lone device for urgent communications in healthcare, government, and public safety.
“But today’s leading organizations communicate with an ever-increasing diverse array of methods and devices. Amcom Software is a recognized leader in delivering software solutions, which enable seamless, critical communications. Amcom’s unified communications suite connects people across a universe of devices that is constantly expanding.”
Tags: Acquisitions, Amcom Software, government, Healthcare, large enterprise, messaging, Springfield, telecom, USA Mobility, VA
Posted in Acquisitions, IT, Potomac, Telecommunications, Virginia | Comments Off
Friday, March 4th, 2011
 JACKSONVILLE, FL – Fortegra Financial Corporation (NYSE: FRF) has agreed to acquire eReinsure.com, Inc., an industry leader in web-based technologies for reinsurance process control, information management and compliance functions, for a cash purchase price of $37 million.
The acquisition of Salt Lake City, Utah-based eReinsure will enable Fortegra to offer eReinsure’s unique reinsurance negotiation platform to insurers, reinsurers and brokers. eReinsure was founded 11 years ago and developed a web based platform to support placing reinsurance risks.
Since then, eReinsure has grown to serve many of the largest reinsurance buyers, sellers and brokers worldwide. eReinsure has demonstrated the value of a web-based system for enhancing transaction control and efficient distribution in the reinsurance market. As a result of the growth of eReinsure, electronic placing of reinsurance has become well established with over 15,000 registered users in 80 countries.
Fortegra Financial Corporation is an insurance services company that provides distribution and administration services and insurance-related products to insurance companies, insurance brokers and agents and other financial services companies in the United States. It sells services and products directly to businesses rather than directly to consumers. Fortegra’s brands include Life of the South, Consecta and Bliss & Glennon.
Tags: Acquisitions, eReinsure, Fortegra Financial
Posted in Acquisitions, Florida, Internet/New Media | Comments Off
Wednesday, February 23rd, 2011
 CARY, NC - Bandwidth.com, a nationwide supplier of VoIP network services to Voice 2.0 innovators such as Skype, Pinger, and others, today announced the acquisition of dash Carrier Services, a provider of tier-one emergency services and wholesale carrier voice solutions in a cash deal of an undisclosed amount.
The acquisition provides Bandwidth with a definitive competitive edge, as it will now tightly couple additional advanced services, such as E911 calling, with its core voice and SMS offerings to deliver a stronger experience for customers who would otherwise need to cobble together these services in much less efficient ways.
This deal marks the latest in a series of major milestones for Bandwidth.com as the company continues to expand rapidly, including signing a commercial deal with the Verizon wireline companies for the exchange of VoIP traffic, serving up several billion voice minutes on its IP network in 2010, and becoming the sixth-largest provider of phone number based services in the United States this year.
The acquisition was an all-cash deal, and the combined entity is forecasted to reach over $100 million in revenues this year. Both companies are profitable and experiencing top and bottom-line growth. Dash CEO Justin Nelson will remain as an advisor to the company.
“Emergency services are a critical component in the continued growth of VoIP adoption as users increasingly will expect their new communication applications to offer the same reliability and functionality, including emergency services, as found in their legacy telephony solutions,” said David Morken, CEO of Bandwidth.com.
“The acquisition of dash, combined with our existing nationwide IP network and services, gives us a tremendous advantage in the industry and the necessary assets to continue pushing the market forward.”
TechJournal South is a TechMedia company. TechMedia presents the annual conferences:
SoutheastVentureConference: www.seventure.org
Internet Summit: www.internetsummit.com
Digital East: www.digitaleast.com
Digital Summit: www.digitalsummit.com
Tags: Acquisitions, Bandwidth.com acquires dash, dash Carrier Systems, emergency services, VoIP
Posted in Acquisitions, Carolinas, Internet/New Media, IT, North Carolina, Telecommunications | Comments Off
Monday, February 21st, 2011
 CARY - Securus Inc., a provider of GPS-based products and technology selling safety and security applications, says its wholly-owned subsidiary has acquired substantially all of the assets of Zoombak from TruePosition, Inc. Zoombak a seller of personal GPS tracking devices that help people track the things that are most important to them, from teenage drivers to employees and automobiles. Financial details were not disclosed.
Zoombak’s award-winning GPS trackers are available in more than 12,500 retail locations through more than 100 U.S. retail partners including Best Buy, Radio Shack, Sears, Pep Boys, Car Toys and Amazon.com.
Chris Newton, president and CEO of Securus Inc. “Securus’ strategy has been to build market-specific product offerings and to deliver these through channel partners, with the ultimate goal of building out a retail distribution network for these products. This acquisition is intended to accelerate our business plan by providing us ready access to a developed retail partner network that the Zoombak team has skillfully assembled over the last few years.”
Securus currently offers portable GPS locators designed to serve various markets, including:
- College Students and General Use: eClick is especially designed for and available for use by college students and will soon be available as a general-purpose GPS-based panic button.
- Special Needs Individuals: eCare is a personal GPS locator designed for individuals with cognitive disorders such as Alzheimer’s disease, Dementia, Autism and Down syndrome.
- Law Enforcement: CatchAThiefGPS is designed to help law enforcement personnel recover commonly stolen items like bicycles, cars and laptop bags and prevent future thefts.
- Pet Tracking: SpotLight and SpotLite are available to track pets with the help of the American Kennel Club Companion Animal Recovery division.
- Child Safety: eSafe is a personal GPS tracking device designed to increase children’s safety.
Tags: Acquisitions, Cary, Chris Newton, GPS tracking, NC, safety & security, Securus, TruePosition, Zoobak
Posted in Acquisitions, Carolinas, Internet/New Media, IT, North Carolina, Security | Comments Off
Thursday, February 10th, 2011
 Both Google and Facebook have held “low level” talks with Twitter about a possible takeover, valuing the company at around $10 billion, according to the Wall Street Journal. The WSJ said the talks were held in recent months but did not progress.
Twitter raised $200 million in December in a deal valuing it at $3.7 billion, according to reports.
The WSJ, citing sources familiar with the situation, said Twitter execs and its board are working to form a large, independent company worth $100 billion. Thus far, the report said, the talks have gone nowhere.
That attitude does not seem dissimilar to some other large Internet-based firms, such as Chicag0-based Groupon, which turned down a $6 billion buyout offer from Google.
Research firm eMarketer reported in January that Twitter made $45 million in advertising revenue in 2010 and is expected to rake in $150 million in 2011.
Tags: Acquisitions, facebook, Google, interested in Twitter takeover, media reports, social media, WSJ
Posted in Acquisitions, Internet/New Media | Comments Off
Monday, February 7th, 2011
 AOL Inc. (NYSE:AOL) has agreed to acquire The Huffington Post, the news and commentary website, for $315 million, as it continues its attempt to retool as a content company selling advertising.
The move comes on the heels of its acquisition of the popular West Coast blog, TechCrunch. We find we’re going to more AOL content ourselves due to these acquisitions.
As part of the transaction, Arianna Huffington, The Huffington Post’s co-founder and editor-in-chief, will be named president and editor-in-chief of The Huffington Post Media Group, which will include all Huffington Post and AOL content, including Engadget, TechCrunch, Moviefone, MapQuest, Black Voices, PopEater, AOL Music, AOL Latino, AutoBlog, Patch, StyleList, and more.
“The acquisition of The Huffington Post will create a next-generation American media company with global reach that combines content, community, and social experiences for consumers,” saidTim Armstrong, chairman and CEO of AOL.
The Huffington Post’s competitor, The Daily Beast, itself recently acquired Newsweek, with veteran magazine editor and media personality Tina Brown at the helm of both.
The Huffington Post has an upscale audience with demographics eagerly sought by AOL, which has struggled to reinvent itself as its dial-up business evaporates.
“This is truly a merger of visions and a perfect fit for us,” said Huffington. “The Huffington Post will continue on the same path we have been on for the last six years – though now at light speed – by combining with AOL.”
She added, “Our readers will still be able to come to the Huffington Post at the same URL, and find all the same content they’ve grown to love, plus a lot more – more local, more tech, more entertainment, more finance, and lots more video.
“We are fusing a legendary and powerful new media brand with a vibrant, innovative news organization, known for its distinctive voice, a highly engaged audience, an expertise in community-building, and a track record for demystifying the news and putting flesh and blood on the data while drawing our audience into the conversation.”
Among those who have blogged on The Huffington Post are:
President Barack Obama, Secretary of State Hillary Clinton, Mayor Michael Bloomberg, Larry Page, Diane Sawyer, Buzz Aldrin, Nora Ephron, Bill Maher, Madeleine Albright, Robert Redford, Katie Couric, Neil Young, Rahm Emanuel, Mia Farrow, Senator Russ Feingold, Senator Al Franken, Ari Emanuel, Harry Shearer, Senator John Kerry, Representative Nancy Pelosi, Madonna, Lawrence Summers, Jamie Lee Curtis, Ryan Reynolds, Craig Newmark, Alec Baldwin, Aaron Sorkin, Natalie Portman, Scarlett Johansson, Russell Simmons, Sean Penn, Bill Gates, Norman Lear, Charlie Rose, Elizabeth Warren, Tavis Smiley, Sheryl Sandberg, George Clooney, and former President Bill Clinton. And the audience speaks back, generating four million comments a month
Tags: AOL acquiring The Huffington Post, Arianna Huffington, The Daily Beast, Tim Armstrong, Tina Brown
Posted in Acquisitions, Internet/New Media, Potomac, Virginia | 1 Comment »
Friday, February 4th, 2011
 RALEIGH, NC – Cisco (Nasdaq:CSCO) is acquiring Raleigh-based Inlet Technologies, a video technology provider, in a deal worth $95 million.
Cisco has made a number of recent acquisitions in the video space, including Flip cameras to Tanberg.
In its recent mobile data forecast, Cicso predicted massive growth in video use on a range of devices from smartphones to tablets and laptops.
“Service and content providers have a tremendous opportunity to deliver exciting video experiences as media consumption increases across mobile, desktop, and smart devices,” said Enrique Rodriguez, senior vice president and general manager, Cisco Service Provider Video Technology Group. “Cisco’s Videoscape platform will play a key role in reinventing the TV experience, and the acquisition of Inlet will enable our customers to leverage the network as a platform to deliver innovative video experiences to consumers on any device.”
Venture-backed Inlet raised more than $20 million. It sells hardware and a range of video services.
Clients include Major League Baseball, NBC, MTV, Sunday Night Football, Xbox Live and Raleigh’s WRAL TV.
Tags: acquistions, Cisco, Inlet Technololgies, NC, Raleigh, video tech
Posted in Acquisitions, Carolinas, Internet/New Media, IT, North Carolina | Comments Off
Thursday, February 3rd, 2011
 BALTIMORE, MD – Ontario-based Open Text Corp. has agreed to a merger of Baltimore-based Metastorm and one of its subsidiaries in a deal worth $182 million.
Metastorm sells business process management, analysis and enterprise architecture software.
Metastorm stockholders will get $182 million in cash.
“Metastorm will add complementary technology and expertise that enhances our ECM solutions portfolio,” said John Shackleton, president and CEO of OpenText.
The deal is expected to close in the third quarter.
Tags: acquisition, Baltimore, MD, Metastorm, Ontario, OpenText
Posted in Acquisitions, IT, Maryland, Potomac | Comments Off
Tuesday, February 1st, 2011
 RESTON, VA – DISH Network, the satellite TV firm, is buying Reston-baseed DBSD North America, a unit of ICO Global Communications, for $1 billion.
DBSD is developing a hybrid earth-satellite based communications network.
DISH will provide $87.5 million in debtor-in-possesion financing for DBSD, which filed for Chapter 11 Bankrupcy protection in 2009.
According to the New York Times, the deal could help DISH acquire broadband spectrum in hope of creating a 4G or LTE network.
DBSD was previously known as ICO North America.
Tags: Acquisitions, DBSD, DISH Network, Reston, satellite communications, VA
Posted in Acquisitions, Potomac, Telecommunications, Virginia | Comments Off
Thursday, January 13th, 2011
 WASHINGTON, DC – Local deal site and Groupon competitor LivingSocial has grabbed a majority stake in Let’s Bonus, one of the pioneer social shopping sites in Europe. Financial details were not disclosed.
The acquisition comes on the heels of LivingSocial’s latest investment, $175 million from Amazon.
The 800-pound gorilla of the social shopping space, Groupon, recently turned down a $6 billion acquisition offer from Google, according to reports, but just this week raised $950 million.
LivingSocial says the Let’s Bonus acquisition bolsters LivingSocial’s rapid international expansion, making it now live in ten countries with the addition of Let’s Bonus’ Spain, Italy, Portugal, Argentina and Mexico presences. LivingSocial now has more than 16 million subscribers, is live in more than 170 markets, and is projected to book in excess of $500 million in revenue in 2011.
“The addition of Let’s Bonus to the LivingSocial team is a great opportunity to expand into Latin Americaand continue our European growth,” said Tim O’Shaughnessy, CEO and co-founder of LivingSocial. “Not only is LivingSocial available in ten countries, but with this acquisition we’ve gone multilingual, offering deals in Spanish, Italian and Portuguese.”
Launched in September 2009 in Barcelona, Let’s Bonus helped to pioneer the collective buying movement in Europe and is the leader in the Spanish market. The company offers daily deals with discounts of up to 70 percent on fun, exclusive activities including gourmet dinners, luxury spas and romantic escapes.
We suspect we’ll be seeing a good deal more acquisitions and partnerships in the hot, hot, hot social shopping space. The top players are well heeled with new cash and many smaller companies have niche pieces of the market.
Tags: acquisition, daily deals, DC, Groupon, Let's Bonus, LIvingSocial, social shopping
Posted in Acquisitions, Internet/New Media, Potomac, Washington, DC | Comments Off
Monday, January 10th, 2011
 CHARLOTTE & RALEIGH, NC – Duke Energy says it will buy Progress Energy in a stock deal worth about $26 billion, resulting in a combined utility with 7.1 million customers, largest in the United States.
The merged firms will operate under the Duke name, headquartered in Charlotte while keeping “substantial operations” in Raleigh.
Bill Johnson, CEO of Progress Energy will take the helm as CEO of the merged companies. Duke CEO Jim Rogers will chair the merged firms.
Johnson called the combination of the two utilities “A perfect fit.”
While the merger may result in some job losses, according to reports, it could also result in lower utility rates.
The merger gives the combined utility increased financial clout.
The combined company will have:
• Approximately $65 billion in enterprise value and $37 billion in market capitalization
• The country’s largest regulated customer base, providing service to approximately 7.1 million electric customers in six regulated service territories North Carolina, South Carolina, Florida,Indiana, Kentucky and Ohio
• Approximately 57 gigawatts of domestic generating capacity from a diversified mix of coal, nuclear, natural gas, oil and renewable resources
• The largest regulated nuclear fleet in the country.
“This combination of two outstanding companies is a natural fit,” said Johnson, chairman, president and chief executive officer of Progress Energy. “It makes clear strategic sense and creates exceptional value for our shareholders. Together, we can leverage our best practices to achieve even higher levels of safety, operational excellence and customer satisfaction, and save money for customers by combining our fuel purchasing power and the dispatch of our generating plants.”
Tags: Bill Johnson, Duke Energy, Jim Rogers, Mergers and acquisitions, Progress Energy
Posted in Acquisitions, Carolinas, Energy, Florida, Kentucky, North Carolina, Other SE, South Carolina | Comments Off
Friday, January 7th, 2011
 It was a fairly busy first week of the year for merger and acquisition activity in the Southeast.
Dell Buying SecureWorks, credit union impact questioned
ATLANTA – DELL Computers said this week it plans to buy 10-year-old, venture-backed Atlanta security firm SecureWorks for an undisclosed price. According to one report, the buy could have an impact on one set of SecureWorks clients, Credit Unions. (See: Dell Talkeover of Secureworks sparks talk of CU Impact).
SecureWorks has more than 2,900 clients. Reports say Dell made a “table-clearing bid” for the company. Other reports say Dell grabbed the firm as it was getting ready to file for an Initial Public Offering of stock with the SEC later in 2011.
North Highland buys Insight Solutions Group
ATLANTA and MINNEAPOLIS — Global consulting firm North Highland is expanding into the Midwest United States with the acquisition of Insight Solutions Group Inc., a Minneapolis-based management consulting firm. The acquisition marks the establishment of North Highland’s twentieth US office.
Financial details were not disclosed.
North Highland is a global, employee-owned consulting firm that delivers strategic business solutions to Fortune 1000 clients, government agencies and non-profits. The firm has 47 offices in the United States,Europe and Asia-Pacific.
GE Intelligent Platforms acquires SmartSignal
CHARLOTTESVILLE, VA – GE Intelligent Platforms has closed its acquisiton of SmartSignal, an analytics software company based in Lisle, Illinois. SmartSignal specializes in providing Remote Monitoring & Diagnostics solutions to the Power Generation, Oil & Gas and other industrial sectors. Financial details were not disclosed.
Virginia-based GEIP is a global provider of software, hardware, services, and expertise in automation and embedded computing.
Virginia-based Rivermine acquired by Emptoris
FAIRFAX, VA - Rivermine, which develops software to help customers manage their telecom expenses, has been acquired by Massachusetts-based Emptoris, which sells supply and contract management tools. Financial details were not disclosed.
Rivermine employees joined Emptoris. CEO Mark Logan is now president of the Emptoris Rivermine division.
Rivermine manages more than $6 billion in communications spending a year for clients who include Chubb Insurance, Ford, Fannie Mae, and IKON Office.
Maryland-based Sourcefire acquires Immunet for $21M
COLUMBIA, MD – Sourcefire, which develops network security tech, has acquired Silicon-Valley based Immunet, which sells cloud-bade anti-malware software, in a deal worth up to $21 million.
Sourcefire paid $17 million in cash at closing, and will pay as much as $4 million more over the next 18 months if Immunet meets product delivery milestones.
Sourcefire said it plans to keep all of Immunet’s fulltime employees. It said the deal expands its security offerings to include a cloud-based platform.
Travel Leaders Group buys Virginia-based Vacation.com
Alexandria, VA – Minnesota-based Travel Leaders Group, a company that manages corporate travel, has acquired Alexandria-based Vacation.com. Financial details were not disclosed.
TLG says the move bolsters its offerings in the North American travel market. Vacation.com sells cruises and vacations through agencies.
Maryland-based National Office Systems buys East Coast Storage Solutions
GAITHERSBURG, MD – National Office Systems, which sells storage and information management systems, has acquired Connecticut-based East Coast Storage Solutions to expand in the Northeast. Financial terms were not disclosed.
East Coast has been a major player and our competitor in Connecticut,” said Joe Alvarez, NOS principal. “Their arrival will expand our world-class products and services even farther into the Northeastern United States, especially the Connecticut and New York markets.”
Tags: Acquisitions, Alexandria, Atlanta, Columbia, Dell, Emptoris, Fairfax, GA, GE Intelligent Systems, M&A roundup, MD, Minneapolis, Rivermine, SecureWorks, SmartSignal, Travel Leaders Group, VA, Vacation.com
Posted in Acquisitions, Georgia, Internet/New Media, IT, Maryland, Potomac, Virginia | Comments Off
Wednesday, January 5th, 2011
 RALEIGH, NC – Alphenon Corp., a Morrisville, NC-based provider of managed IT services to small and mid-sized businesses, has been acquired by mindShift Technologies. Financial details were not disclosed.
All 29 employees of Alpheon will be retained, the companies say, and in addition, mindSHIFT plans to expand in Raleigh, adding jobs.
While declining to speculate on how many jobs will be created, Paul Chisholm, mindSHIFT Chairman and CEO tells TechJournal South.
We are going to grow in the area and add head count as we do.”
“Not only does this acquisition expand our physical presence, but it also provides healthcare organizations access to our cloud computing knowledge experts and a full suite of best-in-class technology services,” he said. Alpheon’s high percentage of clients in the healthcare field was a factor in making it an attractive acquisiton for mindSHIFT, he added.
Founded in 2002, Alpheon provides IT management services to organizations which have a critical dependence on technology to run their business.
The company offers 24×7 technical support, remote infrastructure monitoring, management and maintenance, security services and Voice over IP (VoIP) technology.
“The demand for managed and cloud-based business services continues to grow rapidly among small and mid-size organizations,” said Greg Donovan, Alpheon CEO. “We have chosen to join with mindSHIFT because of its outstanding reputation as a leading managed services provider, their extensive portfolio of services including virtualization, and wealth of technical and human resources. With mindSHIFT we are able to provide all of our clients a new level of technical sophistication and scale.”
mindSHIFT provides managed IT services to legal firms, financial services companies, associations and non-profit organizations, educational institutions and many other small and mid-size businesses. The company has been ranked number one among managed services providers by MSPmentor for the last two years.
We suspect we’ll see more acquisitions in the managed services space. “The business is dominated by a bunch of smaller players,” Chisholm said. Many of them want to provide cloud services, but doing so requires more cash than some have, he notes. “There are a lot of smaller players saying I can’t get there by myself.”
Donovan agrees. “It really does take strength and depth to offer cloud services and smaller firms like ours can’t come to grips with it. This is a great opportunity to expand the depth and breadth of services we offer our customers.”
Donovan adds that joining the larger firm “Does require an adjustment after being an entrepreneur for ten years,” but adds that he’s looking forward to working with Chisholm and his team. — Allan Maurer
Email TJS Editor Allan Maurer: Allan at TechJournal South dot com.
Tags: acquistions, Alpheon, cloud IT, jobs, managed servcies, mindSHIFT, NC, Raleigh, virtualization
Posted in Acquisitions, Carolinas, IT, North Carolina | Comments Off
Wednesday, December 22nd, 2010
 ATLANTA – Teradata Corp. (NYSE:TDC), which sells data warehousing and analytics, has agreed to buy Aprimo, provider of cloud-based marketing software, for about $525 million.
Combining these visionary companies positions Teradata as a leader in Integrated Marketing Management, Marketing Resource Management, and Multi-Channel Campaign Management, providing customers an end-to-end solution available in SaaS and on-premise environments,” said Mike Koehler, president and chief executive officer of Teradata.
Teradata says The Integrated Marketing Management (IMM) business is a growing, $5 billion sector and is emerging as a critical focus for businesses.
SciQuest acquring AECsoft in $13M deal
CARY, NC – SciQuest (Nasdaq:SCI), which sells software as a service for electronic procurement, is acquiring on-demand procurement and supplier services firm AECsoft USA and its Chinese affiliate in a deal worth $13 million.
If AECsoft meets performance milestones, it could earn an additional $4 million from the deal.
SciQuest launched an initial offering of stock earlier this year as it went public for the second time in the life of the company. It is widely viewed as one of the Research Triangle areas success stories.
Tags: Acquisitions, AECsoft, Aprimo, Atlanta, Cary, GA, M&A update, NC, SciQuest, Terradata
Posted in Acquisitions, Carolinas, Georgia, IT, North Carolina | Comments Off
Monday, December 20th, 2010
 ATLANTA – Earthlink Inc. (Nasdaq: ELNK) has agreed to acquire One Communication Corp. for $370 million, which includes payment of approximately $285 million of One Comm net debt. One Comm stockholders have the right to elect to receive the net merger consideration in the form of cash or EarthLink common stock.
One Comm’s shareholders will retain liability for all costs relating to One Comm’s pending litigation with Verizon New York Inc. The merger has been approved by the Boards of Directors of both companies and the stockholders of One Comm.
One Comm, with corporate headquarters in Burlington, Massachusetts, and operational headquarters in Rochester, New York, is one of the largest privately held, multi-regional integrated telecommunications solutions providers in the United States.
With approximately 1,500 employees, One Comm serves approximately 113,000 small and mid-sized business customers in 17 states across the Northeast, Mid-Atlantic and Upper Midwest, including the major metropolitan markets of Boston, New York, Philadelphia, Baltimore and the District of Columbia.
EarthLink plans to integrate One Comm into its newly established EarthLink Business division, which currently consists of products and capabilities of its former New Edge Network, Deltacom and EarthLink Business Solutions divisions.
After the closing of this transaction, EarthLink Business will operate a nationwide IP network with underlying fiber assets in 30 of the top 50 MSAs in the country. The combined fiber network will span approximately 28,000 route miles across 27 states, with 923 collocations, 55 IP and circuit-based switches and 68 metro fiber rings. With the addition of One Comm, EarthLink will have nearly 3,500 employees nationwide.
Tags: Atlanta, Balitimore, DC, Earthlink acquiriung One Communications, GA
Posted in Acquisitions, Georgia, Maryland, Potomac, Telecommunications, Washington, DC | Comments Off
Wednesday, December 8th, 2010
 FAIRFAX, VA – Fairfax-based ManTech, which sells technology to the US government, has acquired Costa Mesa, CA-based MTCSC Inc., for $75 million.
MTCSC is a provider of Command, Control, Communications, Computers, Intelligence, Surveillance and Reconnaissance (C4ISR) systems integration, cyber security and network engineering solutions to U.S. government customers.
ManTech funded the $75 million acquisition from existing cash balances.
“MTCSC was looking for a strategic partner that could enhance their growth trajectory and provide liquidity for shareholders,” said Paul Weisbrich,senior managing director of McGladrey Capital Markets’ Aerospace, Defense and Government Services Group.
McGladrey Capital Markets initiated the transaction, led the negotiations and acted as exclusive financial advisor to MTCSC.
“MTCSC will become a part of ManTech’s Systems Engineering and Advanced Technology group, and will help to expand ManTech’s program exposure in the C4ISR segment.”
GeoEye acquiring SPADAC for $6 million
DULLES, VA – GeoEye, Inc. (Nasdaq: GEOY), a provider of superior satellite and aerial-based geospatial information and services, announced today that it has agreed to purchase 100 percent of the stock of SPADAC Inc., a geospatial predictive analytics company, for $46 million in cash and stock.
Founded in 2002, SPADAC provides geospatial predictive analytic solutions to over 40 customers in key markets of defense, intelligence and homeland security. SPADAC’s revenues are forecasted to be approximately $27 million in 2010.
Tags: Acquisitions, Dulles, Fairfax, GeoEye acquiring SPADAC, ManTech buys MTCSC, Virginia
Posted in Acquisitions, Government/Defense, IT, Potomac, Virginia | Comments Off
Monday, December 6th, 2010
 ATLANTA – American CyberSystems Inc. (ACS), a global information technology services company, has acquired Atlanta-based XRoads Consulting. The acquisition broadens the ACS footprint technically with added solutions expertise and vertically into the healthcare industry marketplace. Fiancial details of the transaction were not disclosed.
The merger between the two information technology companies provides the combined customer base increased coverage for their solutions requirements.
Originated in 2005, XRoads Consulting is an Atlanta-based IT services company that provides a broad range of information technology specialists to Fortune 500 companies.
The company has specialized in providing talent within business intelligence and data warehousing areas of functional expertise. XRoads has also specialized in the healthcare IT space, providing pharmaceutical and healthcare clients with EMR and clinical resources.
The company said it would retain the owner of XRoads Consulting, Ruben Santana, as senior vice president of Business Development for American CyberSystems.
CSC acquiring Image Solutions
FALLS CHURCH, VA – CSC (NYSE: CSC) has signed a purchase agreement to acquire Image Solutions Inc., (ISI), which sells regulatory submission management solutions and related services for the life sciences sector.
Financial details were not disclosed.
The anticipated acquisition will support theCSC Health Care strategic growth plan by expanding the company’s presence in the Life Sciences sector.
Tags: Acquisitions, ACS, Atlanta, CSC, Falls Church, Image Solutions, VA, XRoads Consutling
Posted in Acquisitions, Georgia, Internet/New Media, IT, Potomac, Virginia | Comments Off
Thursday, December 2nd, 2010
 HANOVER, MA – KEYW Corp. (Nasdaq:KEYW) has agreed to buy Everest Technology Solutions Inc., which sells software to the US Intelligence sector, for $28 million in cash and $2 million in KEYW common shares of stock.
KEYW provides what it calls agile cyber superiority and cybersecurity solutions, primarily for U.S. Government intelligence and defense customers
Everest was founded in 1998 and is headquartered in Fairfax, VA. Theyoffer a broad range of cyber superiority solutions and support including geospatial intelligence systems, cybersecurity, cloud computing and mission support. Everest has generated $15.1 million in revenue in the first nine months of 2010.
Tags: Acquisitions, cybersecurity, Everest Technology Solutions, government IT, KEYW Corp.
Posted in Acquisitions, Government/Defense, IT, Maryland, Potomac, Security, Washington, DC | Comments Off
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