GTCR and Doug Bergeron’s Formation of Opus Global Holdings LLC
Former VeriFone CEO Doug Bergeron and Chicago private equity firm GTCR joined forces in September to form Opus Global, a Palo Alto, Calif.-based company that plans to buy financial technology companies and expand them internationally. "We see an opportunity to successfully consolidate and globalize best-in-breed products for worldwide deployment while leveraging data across applications. We intend to assemble a leading, global financial technology company, and to develop a worldwide distribution network of partners, distributors and employees." Bergeron predicts there will soon be a wave of financial technology carve-outs from banks that are being pressured to divest non-banking assets.
Microsoft Inc.’s (Nasdaq: MSFT) Deal for Nokia Oyj’s Assets
In September, Microsoft said it would acquire Nokia Oyj’s handset unit and license certain patents in a $7.2 billion transaction. “Bringing these great teams together will accelerate Microsoft’s share and profits in phones, and strengthen the overall opportunities for both Microsoft and our partners across our entire family of devices and services,” says Microsoft CEO Steve Ballmer in a company statement. The deal, which hasn’t closed yet but has received regulatory approval from the U.S. Department of Justice and Federal Trade Commission, could allow the businesses to gain market share in a smartphone world largely dominated by Apple Inc. (Nasdaq: APPL) and Google Inc. (Nasdaq: GOOG).
Samsung Electronics Co.’s Purchase of Boxee
In July, Samsung bought New York startup Boxee in a move that Samsung expects to enhance user experiences. Boxee makes video-streaming applications for phones and tablets, which should help Samsung stay ahead in television development.
HGGC’s Investment in MyWebGrocer Inc.
In June, private equity firm HGGC closed an investment in MyWebGrocer (pictured), which provides digital marketing services for traditional brick-and-mortar grocery stores. The deal could help traditional grocers fend off Amazon, which expanded its groceries program in 2013, and other nontraditional competitors.
Yahoo Inc.’s (Nasdaq: YHOO) Acquisition of Tumblr
Yahoo’s purchase of blogging service Tumblr Inc. for $1.1 billion, which closed in June, brought in Tumblr founder David Karp. The deal was Yahoo CEO Marissa Mayer’s largest since joining Yahoo in 2011. Yahoo, in a filing with the U.S. Securities and Exchange Commission, says it expects the deal to bring in a significant community of users to Yahoo’s network.