The largest Asian angel network, Indian Angel Network, has invested an undisclosed amount in a UK startup called SwiftShift after a pitching session sponsored by the UKTI, TechCrunch reported.
Deals
Supreme Industries to divest shuttle-bus business for $7M
Indiana, US-based commercial vehicle manufacturer Supreme Industries Inc is about to divest its shuttle-bus business to Elkhart-based recreational vehicle maker Forest River Inc in a deal valued at $7 million.
Virginia-based decoder Babel Street secures $2M from angel investors
Babel Street, a startup that can decode data from complex information, got $2 million from angel investors to go towards its sales, marketing and product development initiatives, VentureBeat reported.
Pizza chain Sbarro said to be readying second bankruptcy filing
Sources told Bloomberg that pizza restaurant chain Sbarro is preparing for a bankruptcy filing which could take place any time in the next few weeks.
Private equity-owned J. Crew Group Inc reportedly in talks with Fast Retailing Co for possible sale
J.Crew Group Inc is said to be in early stage talks with Fast Retailing Co and E. Land Group for a possible sale, according to sources.
Latest News
New York-based dining payments startup Dash received $1.2 million in its seed funding round from existing backers and a new investor, bringing to $1.9 the funds raised so far, VentureBeat reported.
Donna, the personal assistant app made by San Francisco, US-based mobile app creator Incredible Labs, is retiring starting February 28, just a month after search giant Yahoo acqui-hired the company.
Hulu, a platform that provides video streaming services, will be divesting its Japanese unit to Nippon Television Network Corporation after three years of operations, TechCrunch reported.
Russia fund United Capital Partners said it will be suing two shareholders of the social network Vkontakte, Mail.ru Group and Ivan Tavrin, East-West Digital News reported.
Colony Capital and Woodridge Capital Partners have joined forces to acquire the Ritz-Carlton Kapalua resort in Maui, Hawaii for an undisclosed purchase price, Bloomberg reported.
Florida, US-based insurance brokerage investor AssuredPartners Inc completed the purchase of Lexington, Kentucky-based insurance firm Creech & Stafford Insurance Agency Inc for an undisclosed amount.
Important lessons can be learned from the failed acquisition deal of India-based social media analytics firm Salorix by Facebook, especially in India where the startup ecosystem is still in its infancy, TechCrunch reported.
London, UK-based wealth management firm Old Mutual Wealth snapped up Swindon, England-based financial adviser Intrinsic for an undisclosed amount to extend its market reach across the UK.
Hod Hasharon, Israel-based tech startup AtriNet bought itself out of its mother company, Nokia Solutions and Network's (NSN) domestic branch, for an undisclosed amount, to launch as an independent entity and continue the network technology it had developed.
