Iris Dorbian
Pactera Technology, a global consulting and technology services provider in China, said on Monday that its board has received a "going private" proposal to acquire all shares of Pactera from Blackstone and the company's management. The bid is valued at $7.50 per American Depositary Share in cash. Reuters is valuing the deal at $680 million. Blackstone is acting as advisor for the proposal while Citigroup Global Markets is serving as financial advisor to Pactera's executive team.
Payvia, a mobile and online payment company, said on Monday that it will buy Mogreet. No financial terms were disclosed. Also, Mogreet Founder and CEO James Citron will serve as payvia's Chief Marketing Officer. Mogreet is a cloud-based communications platform that is based in Venice, Calif. Pavia, which is headquartered in Los Angeles, with offices in San Francisco, Seattle and Boston, is a portfolio company of Silver Lake Sumeru, Montgomery & Co., and Trinity Ventures.
Zyme Solutions said on Monday that it has received new financing. No financial terms were disclosed. Zyme, a provider of cloud-based solutions that is based in Redwood Shores, Calif., is a portfolio company of Susquehanna Growth Equity.
Greenbriar Equity Group has received a $89.5 million loan from GE Antares, a unit of GE Capital Markets, to acquire EDAC Technologies Corp. GE Capital Markets acted as joint lead arranger of this transaction. EDAC, which is based in Cheshire, CT., is a provider of aerospace components.
Pantheon said on Monday that it will team up with Sponsors for Educational Opportunity (SEO) in an initiative to increase hiring of minority applicants in private equity. As part of this initiative, Pantheon has offered a multi-year financial pledge to SEO. Pantheon has also committed to offer summer internships in its New York office to SEO program participants. And through participation in SEO events and workshops, Pantheon will seek to encourage more minority college undergraduates to become interested in careers in private equity.SEO is a nonprofit educational and career development organization that helps young people from underserved and underrepresented communities.
Vista Equity Partners has acquired Websense. Terms of the agreement call for Websense shareholders to receive $24.75 per share in a cash transaction valued at approximately $1 billion. San Diego-based Websense is cyber security company. BofA Merrill Lynch provided financial advice to Websense. J.P. Morgan Securities, RBC Capital Markets and Guggenheim Partners are providing debt financing.
Seamless North America LLC and GrubHub said Monday that they agreed to merge. Financial terms weren't announced. Matt Maloney will be CEO of the new organization, while Jonathan Zabusky will serve as its president. Brian McAndrews, an independent director on the Seamless board of directors, has been named chairman of the new combined board. Seamless, a mobile and online search service for ordering delivery and takeout food, is backed by Spectrum Equity, as well as GS Capital Partners, CCMP, Thomas H. Lee Partners and Warburg Pincus. GrubHub, which is headquartered in Chicago, is an online and mobile food-ordering service.
Univar, a global chemicals distributor, said on Thursday that it has acquired Quimicompuestos, a leading Mexico-based distributor of commodity chemicals. Financial terms of the transaction were not disclosed. A portfolio company of Clayton, Dubilier & Rice, LLP and CVC Capital Partners, Univar has more than 260 facilities in North America, Europe, the Asia-Pacific region, and Latin America, with additional sales offices in Eastern Europe, the Middle East, and Africa.
Jung Yeon Son has left Technology Crossover Ventures to join Sheppard, Mullin, Richter & Hampton LLP as a partner in the firm's corporate practice group. At Technology Crossover Ventures, which is located in Palo Alto, Calif., Son was associate general counsel. Sheppard Mullin, also based in Palo Alto, is an international law firm with 630 attorneys in 16 offices in the U.S., Europe and Asia.
Summit Investments said on Friday that it has launched Polar System, which is is designed to gather 50,000 barrels of crude oil per day, in Williams County, North Dakota. Summit Investments (or Summit Midstream Partners, LLC) owns a 69% limited partnership stake in Summit Midstream Partners, LP, which is focused on exploring energy assets in North America. Summit Investments is headquartered in Dallas, TX with offices in Houston, TX, Denver, CO and Atlanta, GA.