Melbourne-based tech startup IntelligenceBank raised USD2 million in a seed funding round led by local investment firm KOTJ. The funds will be used for the company's market and workforce expansion.
Deals
Formerly-called YouSendIt file-sharing services nabs USD34 million in Series E investment
Hightail, which was formerly known to many as the file-sharing service name YouSendIt, has raised a total of USD83 million after it nabbed USD34 million in new funding from an investment round led by Western Digital.
Exxon to exit from its utility and power unit in Hong Kong for USD3.4 billion
According to a Reuters report, the sale of Exxon Mobil Corp's controlling interests in utility and power firms Castle Peak Co Ltd and Hong Kong Pumped Storage Development Co would help the global oil firm return money to investors and focus more on its core businesses.
Google Ventures-backed startup Trada for sale or in bankruptcy -source
Google Ventures-backed search-advertising startup Trada was said to have laid off most of its staff. An unnamed source said that the company might be anticipating a sale or shutdown.
Bashneft to go public fall of next year - report
A most notable reason of Russian oil company Bashneft planned to launch an initial public offering was to avoid the chances of a hostile takeover by a potential investor, said one investment firm analyst.
Latest News
Georgia-based eCommerce technology company Innotrac announced that will be acquired by investment firm Sterling Partners for USD106.6 million in cash. The deal would make Innotrac a privately-held company.
TriArtisan Capital Partners emerged as the top bidder for California-based restaurant operator CKE Inc in a deal valued at almost USD2 billion, according to sources familiar with the situation.
Netherland's DSM said it would spin off its pharmaceuticals division to private equity firm JLL Partners for USD2.6 billion. The post-spin off company would be developing and manufacturing drugs under contract.
Julius Baer Group said it will be acquiring WMPartners Wealth Management. The latter will then be merged with Julius Baer's Infidar Investment Advisory Ltd unit to form one of the largest independent asset management company in Switzerland.
Xiao Gang, head of the China Securities Regulatory Commission, said the new reforms planned by the government on public share sales will increase the role of free market forces.
Nokia shareholders were expected to approve the sale of its beleaguered handset business to Microsoft Corp. for EUR5.44 billion. The takeover would boost Nokia's cash position to EUR8 billion.
Internet payment platform PayPal forged a partnership deal with car service firm Uber Technologies in a bid to reach modern marketplaces that cater to mobile-savvy customers.
Indian trading platform provider Financial Technologies Ltd decided to sell its Singapore Mercantile Exchange (SMX) unit to Intercontinental Exchange Group Inc (ICE) for USD150 million amid regulatory scrutiny.
Simplivity's Series C investment round was oversubscribed, raising USD58 million in capital led by Draper Fisher Jurvetson and Kleiner Perkins Caufield & Byers and participated by new and existing investors.
