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Semiconductor industry

Venture Capital and Mergers: A Week in Review

Strategic Insights

— 2 min read

Intel Corp. has made five new investments in startups, including Mediabolic Inc., a digital software supplier, as part of its $200 million Intel Digital Home Fund. The fund has now invested in nine companies. In other news, Bear Stearns is set to acquire a 50% stake in Migdal Capital Markets Ltd. for $13.5 million, and Cisco Systems Inc. has secured an option to purchase BCN Systems Inc. for up to $195 million. Additionally, Lamar Advertising Co. has acquired Obie Media Corp. for $66 million, and Updata Partners has completed a $90 million first close on its third fund.

Key Takeaways:

  • Intel Capital has made five new investments in startups as part of its $200 million Intel Digital Home Fund, bringing the total number of investments to nine.
  • Bear Stearns is acquiring a 50% stake in Migdal Capital Markets Ltd. for $13.5 million.
  • Cisco Systems Inc. has secured an option to purchase BCN Systems Inc. for up to $195 million.
  • Lamar Advertising Co. has acquired Obie Media Corp. for $66 million, with the deal expected to close in early 2005.
  • Updata Partners has completed a $90 million first close on its third fund, which is focused on information technology.
  • Forstmann Little & Co. has agreed to pay $15 million to resolve a lawsuit with the state of Connecticut, which alleged that the buyout firm breached its contract and fiduciary responsibility.
  • El Paso Corp. has closed the sale of 35% of its ACE power plant to an affiliate of GE Commercial Finance's Energy Financial Services for $50.4 million.
  • Molson Inc. stock-option holders will be permitted to vote their options at a shareholders meeting on the company's planned merger with Adolph Coors Co.
  • Aztec Software & Technology Services Ltd. has agreed to buy Disha Technologies India Pvt. Ltd. for $12.1 million.

Statistics:

  • Intel Digital Home Fund has invested in nine companies.
  • Bear Stearns is acquiring a 50% stake in Migdal Capital Markets Ltd. for $13.5 million.
  • Cisco Systems Inc. has secured an option to purchase BCN Systems Inc. for up to $195 million.
  • Lamar Advertising Co. has acquired Obie Media Corp. for $66 million.
  • Updata Partners has completed a $90 million first close on its third fund.
  • Forstmann Little & Co. is paying $15 million to resolve a lawsuit with the state of Connecticut.
  • El Paso Corp. has closed the sale of 35% of its ACE power plant for $50.4 million.
  • Aztec Software & Technology Services Ltd. is buying Disha Technologies India Pvt. Ltd. for $12.1 million.

Sources:

  • [www.TheDeal.com]
  • [Securities and Exchange Commission]
  • [Office of Fair Trading]
  • [Tel Aviv Stock Exchange]
  • [Canadian Securities Administrators]
  • [India Business Law Journal]
  • [Israeli Stock Exchange]

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