Q-News
August 2010
Posted in M&A News
Things were quiet this month on the private M&A front;
we saw only four transactions. Despite
the scarcity of activity, it was good to see exits by three Canadian software
companies. The fourth Canadian company
acquired this July is based in Toronto
and develops high-tech precision equipment for clinical researchers.
Canadian M&A
transactions:
Sysomos, a Toronto-based social media analytics firm whose
technology helps companies assess and influence their social media image, was
acquired by Marketwire, a Toronto-based distributor of online news, multimedia, and
related content. Sysomos, which was
previously funded by GrowthWorks Capital and Ontario's Investment
Accelerator Fund, has a number of sizeable clients such as Shell, IBM,
HSBC, and has been growing rapidly.
Xceed Molecular, a Toronto-based company that develops microchip-based equipment and
software for molecular clinical researchers, was acquired by Axela,
a Toronto-based company that develops precision instruments and analytical
tools for clinical researchers.
Cross-Border
M&A:
Blackboard
(NASDAQ: BBBB), a Washington, DC
provider of enterprise software applications to the education industry, will
acquire Calgary-based Elluminate and NY-based Wimba for a combined price of approximately $116
million. Elluminate
delivers web, audio, video, and social networking software and services optimized for teaching, learning, and
collaboration, with the objective of facilitating live courses over the web. Elluminate
was previously funded by MMV Financial.
Sverica International, a Massachusets-based private equity firm, has acquired Syscon Justice Systems for an undisclosed
amount. The company is a BC-based
provider of offender management software to
correction facilities and police departments in Canada and abroad.
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