BLPA’s Rearview Mirror: M&A and Private Placements Ending April 29, 2014

Rearview Mirror —Part II

M&A and Private Placements

April 29, 2014

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One of my favorite companies, Automattic, the creator of WordPress, made am acquisition.  In my view, they are now unstoppable.  Interesting model where the product is free, and they generate revenue from ancillary services and products.

daffodilsBeautiful Spring day, just edging towards 60℉.  The pugz are loving it.  The green shoots of the daffodils and tulips have sprouted, and the daffodils are blooming, one street over.  Which means our shoots will begin to flower next week.

Small fire drill with the surgeon’s office.  Seems no one followed through with my general practitioner with regard to the blood test and physical.  The orthopedics’ office almost cancelled Thursday’s repair work, which would have sent me scuttling to find a new surgeon.  That’s a lot of money, probably well over $25,000, plus rehab services, for a practice to lose over a forgotten phone call.  Have you ever thought of a medical procedure from an industrial, or big-ticket sales, perspective?  Like the purchase of a car?  It is.

Mergers & Acquisitions

[6 transactions]

Pharma

Israeli-based Andromeda Biotech Ltd. is being acquired by Hyperion Therapeutics for $570m.  Andromeda Biotech is a subsidiary of Clal Biotechnology Industries, and is working on the development of DiaPep277®. a first-in-class immune intervention therapy for new onset Type 1 diabetes[1].

Software/Apps

PayScale, a leader in cloud compensation data and SaaS for businesses and individuals, has attracted a majority investment from Warburg Pincus of $100m.

ProtoGeo, a fitness app, is being acquired by Facebook.

JasperLabs, “the dynamic creative optimization company”is being acquired by DataXu.  DataXu is known as a “programmatic marketing stack”company.[2]

docTrackr, a cloud based security tool that sits on top of file sharing services such as Box, is being acquired by Intralinks for $10m.

scroll kit, a visual website builder, is being acquired by Automattic the developer of WordPress.  As you recently read here, Automattic, raised more than $100m this past month.

Private Placements

[13 transactions]

Business Software

InsideSales.com, which is a “sales acceleration platform, raised $1b in Series C financing, including Salesforce.  Included in the platform is a “PowerDialer™, mCall™—a mobile app, PowerStandings™—a gamification product, Neuralytics™—a lead prioritization algorithm and IDX™or Immersive Sales Data Experience.”

FinancialForce.com, an ERP which is built on the Salesforce I Platform and provides  financial, human resources, professional services and supply chain management, has raised $50m.

ShopKeep POS, an iPad POS, has raised a $25m Series C funding.

BioTech/Medical/Pharma

CRISPR THERAPEUTICS, which is focused on gene-editing technology, has raised $25m Series A.

Orthopaedic Synergy, which owns, Enztec Ltd, OMNI life science Inc., and Praxim, distributes orthopedic devices including joint replacements, has raised $40m.

RXi Pharmaceuticals, which focuses on developing and commercializing innovative therapies based on proprietary next-generation RNAi (RNA interference) platform has raised $20m (post IPO).

Fitness

Peloton Interactive, which has a designer indoor cycle and interactive live and on-demand classes, has raised a $10m Series B round.

CleanEnergy

Renewable Funding, which is a professional services firm that’s goal is to develop innovative finance and technology solutions designed to transform America’s economy to clean energy[3], has raised $20m.

Apps

Tiny Speck raised a $43m Series C round.  Tiny Speck produces Slack, the work conversation app.

Wish, the wish list app from ContextLogic has raised $19m.

Wanderful Media raised $14m, with investors including The McClatchy Company, Cox Media Group, and the Hearst Corporation among others.  Wanderful owns and operates Find&Save a comprehensive collection of local sales available on FindnSave and on newspaper sites across the country.

URX raised $12m.  URX does “deep linking”which takes you to the product page of an app.  For example, if you are playing a game in an app, and see a product advertisement, with mobile deep linking, you can click on that ad and it will take you directly to the “buy”page within the given retailers app that is already on your phone.

India

India’s Housing.com, which assists in finding rentals, agents, and land in eleven cities, has raised $18m.

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That’s it for now.

Margaret Johns

Founder, BlueLake Partners, LLC

 

Affiliates:

 

SiVal_LogoJan Robertson
SiVal Advisors, LLC

 

 

 

 

Bic Stevens

Stevens Capital Advisors

 

Susan Woods and Vlad Harris
Chartworth2Chartworth

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Margaret Johns is the Founder and Chairman of BlueLake Partners, a boutique M&A investment bank based in the Greater Boston Area.  Prior to founding BlueLake she was an employee founder and Managing Director at Needham & Company where she worked in Corporate Finance in New York City and headed up its Boston office.  She now lives in Londonderry, New Hampshire with her husband, 16 year old step-daughter and three pugs.  When she’s not working with clients, FINRA or writing blogs she competes on the Granite State Penguins Masters Swim Team, skis, rides her bike or is out walking her pugs.

Content researched, edited and reviewed on a best efforts basis.

We make no claim to being comprehensive in our review, as the contents are companies and topics we, ourselves, find of interest.

This newsletter is currently being proofed by Dave Henshaw, which is much appreciated. Dave is my USMS swimming lane mate, and Granite State Penguin team-mate.  He is retired from MIT, where he used to produce and proof their annual financial report.  Exactly what we need.

[1] See Hyperion announcement

[2] DataXu webstie

[3] Renewable Funding company website