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eBay Inc has agreed to acquire Zong, a leading provider of payments through mobile carrier billing, for total consideration of approximately USD240 million in cash. Zong leverages connections with more than 250 mobile network operators around the world, offering localised, secure and easy-to-use payments capabilities for digital goods and services in 21 languages and 45 countries. Combined with PayPal’s leading global payment platform serving 100 million active accounts worldwide, the company expects that Zong will add complementary technology and talent that help strengthen PayPal’s leadership position in mobile payments and digital goods.
Zong allows consumers to easily pay for purchases
Better Capital Limited’s BECAP Fund LP (the fund) has entered into an agreement to acquire the UK and Irish business of Spicers, a pan-European supplier of stationery and office products, which is currently a subsidiary of DS Smith Plc, from Unipapel SA.
The agreement is conditional upon the proposed disposal of Spicers by DS Smith Plc to Unipapel SA. The fund has committed GBP40 million to a wholly owned special purpose vehicle set up to effect the transaction.
Infogroup, the leading provider of targeted high-value sales and marketing data, market intelligence and innovative digital engagement solutions, has sold its global market research firm, ORC International, to Lake Capital Management, a Chicago-based private equity firm. The terms of the transaction have not been disclosed.
“During the past year we have taken a series of steps to focus Infogroup on serving the integrated multichannel sales and marketing needs of our clients” says Clare Hart, Infogroup’s President and Chief Executive Officer. “The sale of ORC International is a continuation of this effort and allows us to concentrate our resources on our
Middle market investment bank Harris Williams & Co, has advised the Philadelphia Gear Corporation on its sale to strategic buyer Timken Gears & Services Inc, a subsidiary of The Timken Company (Timken; NYSE:TKR). The transaction, valued at approximately USD200 million, closed on 1 July, 2011.
Harris Williams & Co acted as the exclusive advisor to Philadelphia Gear. The transaction was led by Jon Nemo from the firm’s Aerospace, Defense & Government Services (ADG) Group as well as Tiff Armstrong, Matt White and Matt McLain from the firm’s Energy & Power (E&P) Group.
Philadelphia Gear, based in King of Prussia, PA
Cordiant Capital Inc (Cordiant), the Montreal based fund manager that specialises in loans to private borrowers in emerging markets, has committed a USD10 million loan to the Jordan-India Fertiliser Company (JIFCO).
The loan will finance the construction of a new USD186 million plant in Jordan, using phosphate rocks from local mines to produce phosphoric acid, a fertiliser, for the Indian market.
With the recent dramatic rise in the cost of basic foodstuffs in India, demand for fertiliser is increasing rapidly across the country. Demand for phosphoric acid is likely to keep rising in the longer term as the growth
An affiliate of HIG Capital, LLC, has partnered with the owners and management of Hart InterCivic – a leading provider of election voting systems, election management products and services – to make a strategic investment in the company. The investment positions the company for continued growth in its state, county and municipal technology businesses. The financial terms of the investment have not been disclosed.
“We’re proud to join with H.I.G. as co-investors as we continue the growth and success of Hart,” says Gregg Burt, Chairman of Hart InterCivic. “HIG shares and supports our vision, values, commitment to excellence and innovation,
International law firm Eversheds has advised leading private equity firm LDC and other selling shareholders on the sale of portfolio company Ascend Worldwide Group Holdings to Reed Business Information (RBI), the business information division of Reed Elsevier.
Ascend, a provider of data analytics and advisory services to investors in the aerospace, will become part of Flightglobal, RBI’s aerospace information and data services business.
LDC acquired Ascend in 2005 when it backed the management buyout of Airclaims, an aviation claims provider. LDC then brought in a management team to spin out a new company from the former information and consultancy arm
Climate Change Capital Private Equity LP (CPE), a EUR200 million fund dedicated to investments in clean technology companies, has invested EUR8m in NEURA GmbH, an Austrian renewable technology company focused on manufacturing smartgrid enabled, high performance heat pumps for both residential and commercial properties.
Currently NEURA manufactures some of the most sophisticated, technically advanced and efficient heat pumps in the world. They offer 15-20% greater efficiency than their nearest rivals, are smaller, easier and faster to install and offer the only smart-grid enabled operating system currently available in the market. This investment by CPE will support NEURA’s vision of
Barra Energia do Brasil Petróleo e Gás Ltd (Barra Energia) has entered into an agreement to acquire 10% of Block BMS-8 from Shell Brasil Petróleo Ltda, which currently owns a 20% participation in the area. Financial terms of the transaction were not disclosed.
The block is located offshore in the Santos Basin in water depth of approximately 2,100m. Petrobras is the operator of the block with a 66% working interest while Galp holds a 14% working interest.
In accordance with Brazilian regulatory requirements, the transaction and all the applicable assignment documentation will be submitted to ANP for final approval.
Ian Sayers (pictured), Director General of the Association of Investment Companies (AIC), comments on the UK Government’s new Venture Capital Trust (VCT) and Enterprise Investment Scheme (EIS) proposals…
The Government has rightly identified small business funding as a political priority and is seeking to broaden the range of companies which VCTs can invest in. It is negotiating with Europe to deliver a framework which will significantly increase VCTs’ investment options and enhance their ability to fund small UK companies.
At the same time, there is only a limited amount of investment to go around, particularly given the withdrawal of
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