Liana's Feed
Aug 26, 2015

Education startup HotChalk in talks to raise new funding -sources

Aug 26 (Reuters) – HotChalk, an educational technology
startup, is in talks to raise at least $75 million from private
investors, valuing the company at roughly $500 million to $800
million, according to people familiar with the matter.

The company, which helps universities and colleges create
online degree programs, has hired CitiGroup Inc to assist
with the fundraising, said the people, who asked not to be named
because the matter is private.

Aug 13, 2015

Education software firm Instructure prepares for IPO: sources

By Liana B. Baker

(Reuters) – Instructure is planning an initial public offering later this year that could value the education software company at $500 million to $800 million, according to people familiar with the matter.

Instructure, based in Salt Lake City, has hired Morgan Stanley (MS.N: Quote, Profile, Research, Stock Buzz) and Goldman Sachs (GS.N: Quote, Profile, Research, Stock Buzz) to help prepare for the IPO, which has been filed confidentially, the people said. They requested anonymity because the news of the IPO was not public.

Aug 12, 2015

Exclusive: TPG close to $3.5 billion deal to buy Ellucian – sources

By Liana B. Baker and Greg Roumeliotis

(Reuters) – Buyout firm TPG Capital LP is in advanced talks to acquire Ellucian Company LP, in a deal that could value the U.S. provider of software to universities and colleges at $3.5 billion, including debt, people familiar with the matter said.

Ellucian’s owners, private equity firms Hellman & Friedman LLC and JMI Equity, are in the final stages of negotiating the deal with TPG after running an auction for the company, the people said on Wednesday, cautioning that the talks could still fall through. If the negotiations are successful, a deal could be announced later this month, the people added.

Aug 12, 2015

TPG close to $3.5 billion deal to buy Ellucian-sources

Aug 12 (Reuters) – Buyout firm TPG Capital LP is in advanced
talks to acquire Ellucian Company LP, in a deal that could value
the U.S. provider of software to universities and colleges at
$3.5 billion, including debt, people familiar with the matter
said.

Ellucian’s owners, private equity firms Hellman & Friedman
LLC and JMI Equity, are in the final stages of negotiating the
deal with TPG after running an auction for the company, the
people said on Wednesday, cautioning that the talks could still
fall through. If the negotiations are successful, a deal could
be announced later this month, the people added.

Aug 6, 2015

Exclusive: China’s Dalian Wanda in talks to buy Ironman parent -source

By Liana B. Baker

(Reuters) – Chinese property and investment firm Dalian Wanda Group is in exclusive talks to acquire World Triathlon Corp, the U.S. owner of the popular Ironman Triathlon franchise, for more than $850 million, according to a person familiar with the matter.

The potential deal underscores China’s increasing appetite for U.S. media assets. Live events and sports brands are some of the most attractive and fast-growing areas of the media industry.

Aug 6, 2015

Exclusive: Witkoff in the lead to buy the New York Daily News – sources

By Liana B. Baker

(Reuters) – Real estate tycoon Steven Witkoff is in the lead to acquire the New York Daily News, prevailing over other high-profile bidders in an auction for the struggling tabloid newspaper, according to people familiar with the matter.

Witkoff is in negotiations with the newspaper’s owner, media and property mogul Mort Zuckerman, about a deal that remains far from certain given the New York Daily News’ declining readership and growing liabilities, the people said this week.

Aug 6, 2015

Two tech, media bankers leave Macquarie Group -sources

Aug 6 (Reuters) – Two Macquarie Group Ltd
investment bankers have left the Australian investment bank’s
U.S. technology, media and telecommunications (TMT) group in New
York to join other banks, according to people familiar with the
matter.

Brian Pope, who focused on media deals as a managing
director, will leave for Royal Bank of Canada’s office
in New York, the people said this week, asking not to be named
because the move has not been announced.

Aug 3, 2015

Insight – Daily fantasy sports land in gambling industry crosshairs

NEW YORK (Reuters) – Mike Petta played Internet poker until 2011, when most U.S. poker websites were shut down. Last year, the 31-year-old father of two quit his job as an accountant to play fantasy sports full time, spending thousands of dollars a night entering fantasy sports contests. Now, the gambling industry wants him back.

Playing from home in Livonia, Michigan, Petta is one of millions of Americans who draft virtual sports teams online and enter real-money competitions that last only a few hours. Investors have followed suit, making daily fantasy sports a multi-billion-dollar business.

Aug 3, 2015

Daily fantasy sports land in gambling industry crosshairs

NEW YORK, Aug 3 (Reuters) – Mike Petta played Internet poker
until 2011, when most U.S. poker websites were shut down. Last
year, the 31-year-old father of two quit his job as an
accountant to play fantasy sports full time, spending thousands
of dollars a night entering fantasy sports contests. Now, the
gambling industry wants him back.

Playing from home in Livonia, Michigan, Petta is one of
millions of Americans who draft virtual sports teams online and
enter real-money competitions that last only a few hours.
Investors have followed suit, making daily fantasy sports a
multi-billion-dollar business.

Jul 28, 2015

Exclusive: Education company Blackboard seeks $3 billion sale – sources

By Liana B. Baker, Greg Roumeliotis and Mike Stone

(Reuters) – Blackboard Inc, a U.S. software company that provides learning tools for high school and university classrooms, is exploring a sale that it hopes could value it at as much as $3 billion, including debt, according to people familiar with the matter.

Blackboard’s majority owner, private equity firm Providence Equity Partners LLC, has hired Deutsche Bank AG (DBKGn.DE: Quote, Profile, Research, Stock Buzz) and Bank of America Corp (BAC.N: Quote, Profile, Research, Stock Buzz) to run an auction for the company, the people said this week.