CRN Deal Tracker, Week Of May 8, 2006
Here's a snapshot of merger-and-acquisition activity in the IT channel during the previous week:
Acquired: Primavera Systems, Inc.
Buyer: Francisco Partners Management LLC, InSight Venture Partners
Date: 5/1/2006
Status: Announced
Channel Significance: Vendor
Primavera Systems Iprovides collaborative resource, project, and portfolio management software solutions. It offers software, services, and support to serve companies working on projects in various industries, such as aerospace and defense, construction and engineering, financial services, government, utilities, oil and gas, chemicals, high technology, pharmaceuticals, manufacturing, retail, automotive, life sciences, health care, and trade and transportation. Primavera Systems has authorized representatives in the United States, Canada, Latin America, Europe, the Middle East, Africa and Asia Pacific. The company has strategic partnerships with SAP, MRO, Accenture, Bearing Point, and other companies. Primavera Systems was founded in 1983 and is headquartered in Bala Cynwyd, Pa., with regional offices in San Francisco, Chicago and London. Financial details of the deal were not disclosed.
Acquired: Globeecom International Inc. (CDNX:GBC)
Buyer: NetMarketingSolution.com
Date: 5/1/2006
Status: Announced
Channel Significance: Vendor with U.S. channel partners
GlobeeCom provides Web-based collaborative software solutions for IP networks. Its solutions are offered to small, medium, and large businesses in both the public and private sectors. The company operates in North American and European markets. GlobeeCom International is headquartered in Trois Rivieres, Canada. NetMarketingSolution.com entered into an agreement in principle to acquire GlobeeCom International Inc. (TSX VENTURE: GBC) from Innovatech Quebec and other shareholders, in a reverse merger transaction on May 1, 2006. The completion of the transaction, which is subject to the approval of the shareholders and regulatory authorities, including the TSX Venture Exchange, approval of the creditors at the meeting to be held on May 17, 2006, completion of a due diligence review and execution of the formal legally binding agreement, is expected to occur by July 2006.
Acquired: Broadbeam Corp.
Buyer: MobileAware Ltd.
Date: 5/2/2006
Status: Closed
Channel Significance: ISV
Broadbeam engages in the design, development, and deployment of mobile and wireless solutions worldwide. Its Mobile Solutions System, a mobile framework, provides products across various devices to extend existing applications into a mobile environment, and to develop and deliver new mobile solutions. The company also offers solution identification, product training, deployment, and support services. Broadbeam offers its solutions to automotive rental; beverage, dairy, and snack; emergency services; facilities management; insurance; manufacturing; telecommunications; transportation and logistics; and utilities industries. The company was formed in 1988 and is headquartered in Cranbury, N.J. MobileAware Ltd. agreed to acquire the Broadbeam on May 2, 2006. The multiple venture capital firms holding Broadbeam sold their respective stakes for an undisclosed amount.
Acquired: MercuryMD, Inc.
Buyer: Thomson
Date: 5/2/06
Status: Announced
Channel Significance: ISV
MercuryMD, a health care software company, provides hospitals with technology solutions for clinical workflow and operational efficiencies. MercuryMD was founded in 2000 and is based in Durham, N.C. MercuryMD had about $10 million in revenue last year. MercuryMD is being purchased in a cash transaction that pairs its software with Thomson's vast medical-reference resources. It will operate as an affiliate of the Thomson Micromedex brand, which provides research-based treatment information for hospital physicians. Thomson plans to make a "substantial investment" in MercuryMD's Triangle operations. MercuryMD can't disclose the financial terms of the transaction.
Acquired: Nu-Vision Technologies
Buyer: Black Box Corp. (NasdaqNM: BBOX)
Date: 5/2/06
Status: Closed
Channel Significance: Solution provider
Nu-Vision Technologies, headquartered in Amityville, N.Y., with nine other offices around the country, provides networked communications solutions. Services include consulting, design, engineering, installation and training. The company was founded in 1984 as Vision Communication Services. The financial facts of the transaction were not revealed. Nu-Vision's annual revenues were approximately $55 million for the year ended Dec. 31, 2005.
Acquired: AtWork Resources, Inc.
Buyer: Presagia Corp.
Date: 5/3/2006
Status: Closed
Channel Significance: Solution provider
AtWork Resources provides Web-based software and consulting services that support employer efforts in the management of absence and disability in the workplace, focusing on the return to work process. Founded in January 2000, AtWork Resources is headquartered in Belmont, Calif. The combined company will operate as Presagia Corp., with its head office in Montreal. Following the merger Peter Davie will become Director of Consulting at Presagia and Robert Hall will become Director of Business Development at Presagia.
Edited by Jeanette Boyne, CRN Research.