Virginia-based wealth management technology company Wealthcare Capital Management said today that it will be acquired by private equity investment firm NewSprings Holdings LLC. Financial terms, however, remain undisclosed.
Deals
Top deals of the day - Mergers & Acquisitions
The following bids, mergers, acquisitions and disposals were reported on Thursday including Sigma Alimentos, Fastjet, Rostelecom, DNB, Caixabank, Cyfrowy Polsat, America Movil, Alitalia, Telecom Italia.
Venture capital-backed Tandem Diabetes Care raises USD120 million in IPO
Medical device company Tandem Diabetes Care raised USD120 million in its listing. The company had put up for sale 8 million shares of common stocks priced at USD15 each share.
Hamilton Lane in talks to acquire Paul Capital
Secondary investment firm Hamilton Lane Advisor LLC is considering a buyout of private equity firm Paul Capital. The financial terms of the acquisition remains to be unknown.
USD1.6 trillion in Chinese local government debt blocks freedom of interest rates - Capital Economics, BNP Paribas
Analysts warned that unless the state of China address the USD1.6 trillion debt incurred by its municipalities via local government financing vehicles, interest rates would skyrocket.
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African airline holding company Fastjet PLC said Lonrho Ltd, its largest shareholder, had put up for sale of its entire stake in the company. Lonrho would be raising GBP1.49 million from the exit.
Sovereign wealth funds Korea Investment Corporation and Russian Direct Investment Fund pooled USD500 million for a cross-border private equity investment platform. The fund was intended to encourage trade and investment cooperation between South Korea and Russia.
Vale SA had sold the last of its 21.6% ownership in Norsk Hydro ASA following the sale of its non-core assets in order to focus on its more profitable business, which is in iron ore.
Search engine giant Google and private equity company KKR & Co. will be financing a solar power plant project for USD400 million. Six solar power plants were being built by Recurrent Energy LLC in California and Arizona.
The Game Show Network insisted that Bash Gaming pay a premium based from the difference between its initial acquisition offer and the amount the latter received from an unnamed buyer after Bash rejects GSN's deal at the last minute.
Playful jabs between heads of Gawker and Business Insider spurs potential merger, partnership rumors
Nick Denton and Henry Blodget played down rumors of a potential merger between blog collective Gawker Media and Business Insider in a media conference and discussed about a partnership using Gawker's Kinja comments platform.
Yahoo's old domain names might fetch lower prices that current retail prices on the domain names market due to the sale of new domain names with non-traditional extensions (gTLDs) by Donuts and GoDaddy, said VentureBeat.
Although the management of online advertising service Swoop did not disclose the purpose of raising new venture capital, Chief Executive Officer Ron Elwell's statement to TechCrunch indicated that the company might still be focusing on building its sales team.
Mexico-based food conglomerate Sigma Alimentos announced it plan to take over Spain's meat processing company Campofrio after it agreed to buy 40% of of the Spanish company from its current shareholders.
