| | | Strattam Capital backs NEWSTOCK, Philips seeks buyer for Philips Lifeline, Churchill-sponsored SPAC strikes $1.3bn merger with Skillsoft | | | | Wednesday, October 14, 2020 | | | | | Morning!
Happy Wednesday, Dear Tech Take readers!
NETSTOCK
Strattam Capital has backed NETSTOCK, a provider of inventory planning and optimization software for small- and mid-sized enterprises, Hilary Fleischer, partner at the Austin, Texas firm told me.
NETSTOCK helps its global customers manage over $15 billion of inventory and plan 100 million items per month. The software-as-a-service company has proven its resiliency during covid-19. In fact, NETSTOCK has created additional value to its clients by helping them navigate uncharted territory.
“The software is actually providing additional value because when there is an uncertain demand — like there is right now — the ability to best forecast what inventory you should hold is quite valuable,” Fleischer said. Read more.
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| | | Top Scoops | | | Med tech: Philips is looking to divest Philips Lifeline, whose medical alert systems help seniors at home summon help. Philips in 2006 acquired Lifeline for a total equity value of $750 million. Check out Sarah’s full report.
SPAC news: Churchill Capital Corp II, a blank check company formed by Churchill Capital, has agreed to merge with Skillsoft, a provider of digital learning and talent management solutions. The value of the deal is about $1.3 billion. Skillsoft will also buy Global Knowledge Training from Rhône Capital for about $233 million upon closing of the deal. Read our brief. |
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| | TMT hit
Yesterday was a big news day in tech. If you read my story on Macquarie's layoffs you know what I am talking about.
What strikes me as especially unexpected is that, according to sources, at least six TMT bankers were laid off from the team at a time when the tech sector is booming with M&A activity, SPACs, and IPOs.
As we emerge from covid-19, tech is already showing signs of a fast recovery, and in many cases, is seen to benefit from the acceleration of digital transformation and a remote environment. If anything, tech has been the most lucrative and competitive area for both bankers and PE firms.
The names of all six members of the TMT team were not included in the story because they could not be formally confirmed. What we do know though is that David Dorfman, global head of TMT, who hired many of the Macquarie’s TMT team members to work for him, is going to be leaving.
Have a great day! If there are any names you’d like to add to the ongoing story at Macquarie, or with any other tips or feedback, reach me at mvinn@buyoutsinsider.com.
HOUSEKEEPING
Wanted: VCJ’s Rising Stars
It’s that time of the year. Over at Venture Capital Journal, editor Alastair Goldfisher and the team are looking for nominations for their second annual Rising Stars list. VCJ is seeking to identify the most talented and up-and-coming professionals in the venture capital community. Click here for more information on how you can submit your favorite Rising Star. | | |
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| | | | | | | | | | | In search of nominations for our Rising Stars 2021 | | It's that time of the year for us to gather nominations for our second annual Rising Stars list. VCJ is seeking your help to identify the most talented and up-and-coming professionals in the venture capital community. Here's how you can submit your favorite Rising Star. More... |
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| | | | | | | | | | PE-backed SENTA buys Atlanta Allergy | | Southern Ear, Nose, Throat & Allergy Partners, a portfolio company of Shore Capital Partners, has acquired Atlanta Allergy & Asthma Clinic, a Georgia-based allergy practice. More... |
| | | | JLL Partners buys MedeAnalytics | | JLL Partners has acquired Richardson, Texas-based MedeAnalytics, a cloud-based enterprise analytics solutions provider for health systems and health plans. More... |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | SPC invests in Mosquito Authority | | Susquehanna Private Capital has made an investment in Hickory, North Carolina-based Mosquito Authority, a franchisor of mosquito, pest and tick control services. More... |
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| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Glimpse procures $1.5m seed | | Glimpse, a B2B marketplace that allows brands to reach new customers by placing products in short-term real estate rentals, has secured $1.5 million seed funding, according to a source familiar with the transaction. More... |
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