jump to navigation

Boston based Iron Mountain buys Santa Clara, CA-based Mimosa Systems for $112 Million March 8, 2010

Posted by HubTechInsider in Acquisitions, Software.
Tags: , ,
add a comment

Boston based Iron Mountain buys Santa Clara, CA-based Mimosa Systems for $112 Million. Information management company Iron Mountain Inc (IRM.N) said it acquired Mimosa Systems Inc, a Santa Clara, California-based provider of on-site digital storage services, for $112 million in cash.

With the acquisition, Iron Mountain will now get access to Mimosa’s key customers like United Healthcare Group (UNH.N) and Flextronics (FLEX.O).

The acquisition is expected to “modestly” hurt earnings in its first year, with expected synergies and revenue growth driving significant increases in profits beyond 2010, the company said.

“By combining Mimosa’s on-premises archive with our cloud-based technologies, Iron Mountain can now store, recover and discover digital content wherever it resides,” Iron Mountain Digital president Ramana Venkata said in a statement.

Iron Mountain provides records management, data protection and recovery, and paper shredding services. Until now, Iron Mountain Digital, the technology arm of Iron Mountain, provided cloud-based services to customers.

Boston-based Iron Mountain entered the digital storage segment in 2001 and has made four acquisitions since then.

Iron Mountain’s last acquisition in the digital segment was of e-discovery firm Stratify for $158 million, its biggest deal in the space.

The company has spent about $800 million on acquisitions in the last five years.

“With Mimosa in the fold, what we’re going after is an approximately $10.5 billion market around the things we’re doing today,” Venkata said.

Iron Mountain’s rivals include EMC (EMC.N) and Symantec (SYMC.O).

Add to FacebookAdd to DiggAdd to Del.icio.usAdd to StumbleuponAdd to RedditAdd to BlinklistAdd to TwitterAdd to TechnoratiAdd to Yahoo BuzzAdd to Newsvine

Add to Google Buzz

Germany’s Merck KgAA offers $7.2B for Billerica’s Millipore March 8, 2010

Posted by HubTechInsider in Acquisitions, Biotech, Health Care IT, Pharmaceuticals.
Tags: , , ,
add a comment

Germany’s Merck KgAA offers $7.2B for Billerica’s Millipore. Merck KgAA has swooped in to offer $6 billion, or $107 per share, for the bioresearch and bioproduction company, beating Waltham’s Thermo Fisher to the punch. Including debt, the deal is valued at $7.2 billion. The deal will boost Merck’s chemicals business, which currently generates 25 percent of its total revenue, the company says in a statement. With the Millipore buyout, that number will grow to 35 percent. And it gives the developer a strong source of revenue that’s not subject to the uncertainties of drug development.

The German company says it intends to retain Millipore’s headquarters in Billerica, Massachusetts and combine it with Merck’s U.S. chemical headquarters. It also plans to build on Millipore’s workforce and retain its senior management. Merck expects that the combined business will generate annual cost synergies of around $100 million (€ 75 million), which it expects to realize within three years from the closing of the transaction, according to a statement.

In 2009, Millipore generated sales of $1.7 billion, with roughly 6,000 employees in more than 30 countries. The deal is expected to close in the second half of 2010.

Merck KGaA and Millipore Announce Transaction
Merck to acquire all outstanding Millipore shares for US$ 107 per share in cash, creating a world-class partner for the life science sector
Agreed transaction valued at approximately € 5.3 billion (US$ 7.2 billion)
Combination will create a € 2.1 billion (US$ 2.9 billion) partner for the Life Science sector and transform Merck Chemicals
Combined business will have significant scale in high-growth bioresearch and bioproduction segments
Merck intends to retain Millipore’s headquarters in Billerica, Massachusetts
Darmstadt, Germany and Billerica, MA – February 28, 2010 – Merck KGaA, a global pharmaceutical and chemical company, and Millipore Corporation (NYSE: MIL), a leading Life Science company based in Billerica, Massachusetts, USA, today announced that they have entered into a definitive agreement under which Merck KGaA will acquire all outstanding shares of common stock of Millipore, for US$ 107 per share in cash, or a total transaction value, including net debt, of approximately € 5.3 billion (US$ 7.2 billion). The transaction was approved by the boards of directors of both companies. Millipore and Merck will create a € 2.1 billion (US$ 2.9 billion) world-class partner for the Life Science sector, achieving significant scale in high-margin specialty products with an attractive growth profile.
“This transaction is very attractive to shareholders, customers and employees of both companies,” said Dr. Karl-Ludwig Kley, Chairman of the Executive Board of Merck. “This is a combination with an excellent strategic fit, which will allow us to cover the entire value chain for our pharma and biopharma customers, offering in entire value chain for our pharma and biopharma customers, offering integrated solutions beyond chemicals.”
Millipore has a strong position in the attractive bioresearch and bioproduction segments, offering a comprehensive range of products, technologies and services for pharma and biotech companies, as well as for academia, to improve laboratory productivity and to develop and optimize manufacturing processes. In 2009, Millipore generated sales of US$ 1.7 billion, with around 6,000 employees in more than 30 countries.
Martin Madaus, Chairman, President and CEO of Millipore said, “Over the past five years, we have transformed Millipore into a life science leader by driving innovation, entering new markets, and generating exceptional operational performance. Today’s announcement, which is the outcome of a thorough strategic review process, is a validation of the tremendous value of the Millipore brand and a testament to the value this transformation has created for all of our stakeholders. We are excited to join a high-quality company like Merck as we will gain greater scale and scope in the life science industry. This is a very positive outcome for our employees and customers as we continue to build on our strategy for growth, while maintaining our headquarters in Billerica.”
Together, Millipore and Merck will have a significant presence in high-growth segments and an enhanced geographic presence. Combining the research and development capabilities of both companies will create a powerful innovation platform to develop cutting-edge technologies that are tailored even more closely to the needs of customers.
Dr. Kley added: “By combining Millipore’s bioscience and bioprocess knowledge with our own expertise in serving pharma customers, we will be able to unlock value in our chemicals business and transform it into a strong growth driver for Merck. Through this acquisition, we will expand the overall product offering of the Merck Group, using the well-recognized Millipore brand in addition to our own brand.”
The acquisition is fully in line with Merck’s strategy of focusing on high-margin, specialty products with an attractive growth profile. In addition, the transaction will lead to a more balanced business profile for the Group. Currently, the Chemicals business sector generates around 25% of Merck’s total revenues. Following the transaction, the chemicals business will contribute 35% of total Group revenues of € 8.9 billion (pro forma), driven by its strong Liquid Crystals business and the new world-class life science business.
In order to ensure a seamless integration of the two businesses, Merck will apply a “best of both worlds” integration approach across all operating business functions. Merck plans to build on Millipore’s talented workforce and intends to retain its senior management. The company also plans to maintain Millipore’s headquarters in Billerica and combine it with Merck’s U.S. chemicals headquarters. Merck expects that the combined business will generate annual cost synergies of around US$ 100 million (€ 75 million), which Merck expects to realize within three years from the closing of the transaction.
The acquisition will be funded through available cash and a term loan provided by Bank of America Merrill Lynch, BNP Paribas and Commerzbank Aktiengesellschaft. Merck plans to replace part of the facility through the issuance of bonds. Merck is committed to retaining a solid investment-grade rating.
Completion of the acquisition requires the approval of Millipore shareholders, for which Millipore will call a special shareholders meeting, and the satisfaction of other customary conditions, including antitrust clearance. Due to the fact that the two businesses are highly complementary, Merck expects that the transaction will clear regulatory review. Merck anticipates that the transaction will be completed in the second half of 2010, at which time all outstanding shares of Millipore common stock will be exchanged for the right to receive the agreed cash payment.
Guggenheim Securities, LLC and Perella Weinberg Partners LP have acted as financial advisors to Merck in the transaction, and Skadden, Arps, Slate, Meagher & Flom LLP served as the Group’s legal advisor. Goldman Sachs & Co. acted as financial advisor to Millipore, and Cravath, Swaine & Moore LLP and Ropes & Gray LLP acted as Millipore’s legal advisors.
NOTE TO EDITORS:
Further information:
Please find further information on Merck’s corporate website http://www.merck.de
A pre-recorded interview with Merck Chairman of the Executive Board Dr. Karl-Ludwig Kley is available at http://www.merck.de

News Release
Media Call and Press Conference:
Merck Chairman of the Executive Board, Dr. Karl-Ludwig Kley, and Dr. Bernd Reckmann, Head of the Chemicals business sector, will discuss the transaction at a press conference on March 1, 2010 at 10:30 a.m. CET. The press conference will also be broadcast on Merck’s website: http://www.merck.de.
Analysts and Investor Call:
Merck Chairman of the Executive Board, Dr. Karl-Ludwig Kley, and Merck Chief Financial Officer, Dr. Michael Becker, will discuss the transaction in a conference call for European analysts and investors at 9 a.m. CET and for U.S. analysts and investors at 2:30 p.m. CET (8:30 a.m. EST), both on March 1, 2010.
Merck KGaA stock symbols:
Reuters: MRCG, Bloomberg: MRK GY, Dow Jones: MRK.DE
Frankfurt Stock Exchange: ISIN: DE 000 659 9905 – WKN: 659 990
About Merck
Merck is a global pharmaceutical and chemical company with total revenues of € 7.7 billion in 2009, a history that began in 1668, and a future shaped by approximately 33,000 employees in 61 countries. Its success is characterized by innovations from entrepreneurial employees. Merck’s operating activities come under the umbrella of Merck KGaA, in which the Merck family holds an approximately 70% interest and free shareholders own the remaining approximately 30%. In 1917 the U.S. subsidiary Merck & Co. was expropriated and has been an independent company ever since.
About Millipore
Millipore (NYSE: MIL) is a Life Science leader providing cutting-edge technologies, tools, and services for bioscience research and biopharmaceutical manufacturing. As a strategic partner, we collaborate with customers to confront the world’s challenging human health issues. From research to development to production, our scientific expertise and innovative solutions help customers tackle their most complex problems and achieve their goals. Millipore Corporation is an S&P 500 company with more than 6,000 employees worldwide.

Read more: http://www.fiercebiotech.com/press-releases/merck-kgaa-and-millipore-announce-transaction-0#ixzz0hcesNRXK

Add to FacebookAdd to DiggAdd to Del.icio.usAdd to StumbleuponAdd to RedditAdd to BlinklistAdd to TwitterAdd to TechnoratiAdd to Yahoo BuzzAdd to Newsvine

Add to Google Buzz

Cambridge’s ATG, Inc., acquires Seattle’s InstantService, Inc., for $17 Million January 24, 2010

Posted by HubTechInsider in Ecommerce, Startups, Venture Capital.
Tags: , , , , ,
add a comment

Cambridge’s ATG, Inc., (Art Technology Group) an ecommerce technology company, acquires Seattle’s InstantService, Inc., a provider of live chat services used predominantly in live tech help situations, for $17 Million.

Add to FacebookAdd to DiggAdd to Del.icio.usAdd to StumbleuponAdd to RedditAdd to BlinklistAdd to TwitterAdd to TechnoratiAdd to Yahoo BuzzAdd to Newsvine

Chelmsford’s Aspect Software Inc acquires St. Charles, MO’s Quilogy, for undisclosed terms January 24, 2010

Posted by HubTechInsider in Startups, Venture Capital.
Tags: , ,
add a comment

Chelmsford’s Aspect Software Inc., a communications and contact center software developer, acquires St. Charles, MO’s Quilogy, an IT services company, for undisclosed terms.

Add to FacebookAdd to DiggAdd to Del.icio.usAdd to StumbleuponAdd to RedditAdd to BlinklistAdd to TwitterAdd to TechnoratiAdd to Yahoo BuzzAdd to Newsvine

Islandia, NY’s CA, Inc., acquires Waltham’s Oblicore for undisclosed terms January 24, 2010

Posted by HubTechInsider in Software, Startups, Venture Capital.
Tags: , , ,
add a comment

Islandia, NY’s CA, Inc.,an IT management software company, acquires Waltham’s Oblicore, a provider of Service Level Management (SLM) software for enterprises and service providers, for undisclosed terms.

Add to FacebookAdd to DiggAdd to Del.icio.usAdd to StumbleuponAdd to RedditAdd to BlinklistAdd to TwitterAdd to TechnoratiAdd to Yahoo BuzzAdd to Newsvine

Boston’s CitySquares Online, Inc., acquires Boston’s Yokel.com, for undisclosed terms January 24, 2010

Posted by HubTechInsider in Startups, Venture Capital.
Tags: , ,
add a comment

Boston’s CitySquares Online, Inc., a provider of Web-based hyper-local search technologies, acquires Boston’s Yokel.com, a local products searches provider, for undisclosed terms.

Add to FacebookAdd to DiggAdd to Del.icio.usAdd to StumbleuponAdd to RedditAdd to BlinklistAdd to TwitterAdd to TechnoratiAdd to Yahoo BuzzAdd to Newsvine

Arlington’s Optics For Hire, Inc., acquires Bedford’s Actuality Systems, for undisclosed terms January 24, 2010

Posted by HubTechInsider in Startups, Venture Capital.
Tags: , , , ,
add a comment

Arlington’s Optics For Hire, Inc., a creator of hologram-like images from 3-D digital data, acquires Bedford’s Actuality Systems, a maker of visualization systems for medicine, oil and gas exploration, and other applications, for undisclosed terms.

Add to FacebookAdd to DiggAdd to Del.icio.usAdd to StumbleuponAdd to RedditAdd to BlinklistAdd to TwitterAdd to TechnoratiAdd to Yahoo BuzzAdd to Newsvine

Bedford’s Progress Software acquires Santa Clara’s Savvion for $49 Million January 22, 2010

Posted by HubTechInsider in Software, Startups, Venture Capital.
Tags: , , ,
add a comment

Bedford’s Progress Software, a maker of systems for integrating enterprise software applications acquires Santa Clara’s Savvion, a maker of business process management software, for $49 Million.

Add to FacebookAdd to DiggAdd to Del.icio.usAdd to StumbleuponAdd to RedditAdd to BlinklistAdd to TwitterAdd to TechnoratiAdd to Yahoo BuzzAdd to Newsvine

Worcester’s Micro Networks is acquired by Fairview, PA’s Spectrum Control Inc. for $13 Million December 22, 2009

Posted by HubTechInsider in Acquisitions, Defense Contracts, Military Contracts, Startups.
Tags: , ,
add a comment

Worcester’s Micro Networks, a supplier of data conversion and custom flight modules for weapons and flight control systems, has been acquired by Fairview, PA’s Spectrum Control Inc., a provider of consulting, diagnostic testing and design services, for $13 Million.

Add to FacebookAdd to DiggAdd to Del.icio.usAdd to StumbleuponAdd to RedditAdd to BlinklistAdd to TwitterAdd to TechnoratiAdd to Yahoo BuzzAdd to Newsvine

Woburn’s Monotype Imaging Holdings acquires Redwood Shores, CA’s Planetweb for $1.9 Million December 18, 2009

Posted by HubTechInsider in Acquisitions, Startups.
Tags: , ,
add a comment

Woburn’s Monotype Imaging Holdings, a provider of text imaging technology, has announced it has acquired Redwood Shores, CA’s Planetweb, a provider of user interface software, for $1.9 Million.

Add to FacebookAdd to DiggAdd to Del.icio.usAdd to StumbleuponAdd to RedditAdd to BlinklistAdd to TwitterAdd to TechnoratiAdd to Yahoo BuzzAdd to Newsvine

Waltham’s ModusLink Global Solutions acquires Colorado -based Tech for Less for $30 Million December 18, 2009

Posted by HubTechInsider in Acquisitions, Hardware, Startups.
Tags: ,
1 comment so far

Waltham’s ModusLink Global Solutions, a provider of supply chain services for technology brands, has announced it has acquired Colorado springs, Colorado -based Tech for Less, a processor and marketer of customer-returned consumer electronics and business technology products for $30 Million.

Add to FacebookAdd to DiggAdd to Del.icio.usAdd to StumbleuponAdd to RedditAdd to BlinklistAdd to TwitterAdd to TechnoratiAdd to Yahoo BuzzAdd to Newsvine

Cambridge’s MF Analytics, Ltd, a financial solutions provider for Microfinance and SME institutions, is acquired by TriLinc Global, LLC November 27, 2009

Posted by HubTechInsider in Acquisitions.
Tags: , , ,
add a comment

Cambridge, Massachusetts -based MF Analytics, Ltd, a financial solutions provider for Microfinance and SME institutions, is acquired by TriLinc Global, LLC of Los Angeles, California. TriLinc Global is a social impact investment company. The financial terms of the transaction were not disclosed.

Waltham’s TheNextRound, private equity software startup, acquired by Windsor, CT -based SS&C Technologies November 25, 2009

Posted by HubTechInsider in Acquisitions, Software, Venture Capital.
Tags: , , , ,
add a comment

TheNextRound, a Waltham, MA-based startup that makes software for private equity and alternative investors, has been acquired by Windsor, CT-based SS&C Technologies for an undisclosed amount, according to an SS&C announcement recently. SS&C makes financial management software for insurance companies, hedge funds, banks and credit unions, real estate companies, and other institutions.

Framingham’s Punchbowl Software acquires Waltham’s ImIn.com for undisclosed terms November 25, 2009

Posted by HubTechInsider in Acquisitions, Social Media, Venture Capital.
Tags: , , , , ,
add a comment

Framingham, Massachusetts based Punchbowl Software, operator of a party planning web site, has acquired Waltham’s ImIn.com, a group travel site, for undisclosed terms.

%d bloggers like this: