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.
Deals
TCAS Online closes EUR650,000 in venture capital round
TCAS Online, a student accommodation management systems provider based out of Dublin, Ireland, received EUR650,000 in fresh funding from private investors including Kernel Capital Partners.
American Securities acquires Tekni-Plex for an undisclosed amount
Tekni-Plex, one of the largest specialty plastic films makers in North America, was acquired by private equity firm American Securities from two other private equity firms who had majority ownership stakes in Tekni-Plex for the last five years.
Creators of Google Wallet secures USD7 million in Series A funding round
Index, a startup that provides software to enhance customer experience in physical stores, received USD7 million in Series A investment from investors including Innovation Endeavors, of which Google executive chairman Eric Schmidt is a co-founder.
Atomico announces USD476 million fund for later-stage startup investments
Atomico's Fund III was intended to provide financial support to startups who are raising money via later-stage funding rounds to aid them in scaling their businesses.
Latest News
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.
Proceeds to be received from the planned initial public offering of New Zealand aviation company Airwork would go towards a stock buyback program, repay debts to affiliates and inject working capital into the firm.
The Wall Street Journal said it was highly unusual for a bank or an entity to withdraw from its role as an underwriter for an initial public offering or any similar deal, much less weeks before the deal is scheduled to begin.
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.
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.
