The Daily Deal articles from August 2001, page 6

The Daily Deal archives from August 2001

Deal Flow -- August 17, 2001.(Brief Article)(Statistical Data Included)
August 17, 2001... Byline: George White COMPUTER HARDWARE AND SOFTWARE FreeBorders San Francisco-based FreeBorders, a provider of supply chain management software to the apparel industry, picked up $9 million in third-round funding from TAL...

B2B startup looks north for funding.(Brief Article)
August 17, 2001... Byline: Ivan Castano Business-to-business online barter house eScout Inc. reached across the U.S.-Canadian border Friday to raise $7 million from strategic investor Bank of Montreal, one of Canada's biggest and oldest banks. The...

IC Mechanics clinches $5M Series A.(IC Mechanics Inc.)(Brief Article)(Statistical Data Included)
August 17, 2001... Byline: Lou Whiteman A Carnegie Mellon University professor with a design intended to slash the cost of motion sensor chips has turned to a former student at the Pittsburgh school for the venture funding he needs to develop his product....

European incubators take divergent paths to survival.(Brief Article)(Statistical Data Included)
August 17, 2001... Byline: Joshua Jaffe How bad are things for the heads of Europe's technology incubators? So bad, that arsonists torched Newconomy NV chairman Maurice de Hond's car in May. De Hond finally got the message this week and resigned from...

FreeBorders gets $9M for apparel software.(Brief Article)
August 17, 2001... Byline: Danny Fortson San Francisco-based FreeBorders pulled in $9 million in a third round of venture funding to drive development of software to aid apparel makers in production. The company also announced Friday the acquisition of...

Wavve Telecom flows into Chapter 11.
August 16, 2001... Byline: Olaf de Senerpont SAN FRANCISCO -- Crushed by a drop-off in demand for enterprise Internet hosting services, data center company Wavve Telecommunications Inc. announced late Wednesday that it has filed for Chapter 11 bankruptcy...

The Right Start buys Zany Brainy assets.
August 16, 2001... Byline: Ivan Castano The Right Start Inc., a 68-store chain that sells infant and toddler safety products and toys, announced Aug. 16 that it is buying all of the assets of bankrupt instructional-toy retailer Zany Brainy Inc., in a deal...

NextWave gets $300M commitment.(NextWave Telecom Inc.)(Qualcomm Inc.)
August 16, 2001... Byline: Leon Lazaroff Allen Salmasi, founder and chairman of bankrupt NextWave Telecom Inc., secured a $300 million commitment from Qualcomm Inc., the wireless technology company he also helped found and worked for from 1988 to 1995. ...

Metricom auction features wireless licenses.
August 16, 2001... Byline: Danny Fortson SAN FRANCISCO -- Bankrupt Metricom Inc. held an auction Aug. 16 for all of its assets, including potentially lucrative wireless spectrum licenses. In court papers filed earlier this week, the company set a $30...

ABN scales down wholesale banking unit.(ABN AMRO Bank)
August 16, 2001... Byline: Nicola Hobday LONDON -- Dutch bank ABN Amro Holding NV has long been a favorite of the financial press when it comes to speculating on a likely acquirer of a rival bank. With its well-documented ambitions to catch up with the...

The Industry Standard suspends publication.
August 16, 2001... Byline: Peter Lauria The Industry Standard, flying high only a year ago as a savvy, ad-rich chronicle of the new economy, will suspend publication pending a sale, industry sources said Thursday. The magazine is the latest in a string...

Lucent must raise $5B to spin off Agere.(Lucent Technologies Inc.)
August 16, 2001... Byline: David Ehrlich Terms of a new loan agreement Lucent Technologies Inc. reached with its bankers Aug. 16 require the telecommunications equipment company to generate $5 billion in cash before it can spin off Agere Systems Inc. ...

Layoff roundup: Week of Aug. 13.(Tyco International Ltd.)
August 16, 2001... Byline: Kurt Schulitz The company hit hardest by the layoff ax this week was Tyco International Ltd. The Bermuda-based electronics and circuit board manufacturer announced it will be let go more than 11,000 workers, nearly 6% of its...

beenz.com loses its magic.
August 16, 2001... Byline: David Shabelman Yet another online currency company is closing down its printing press. New York-based beenz.com inc., which was founded with the vision of creating a "universal, incentive-based currency for online...

HSR early terms -- August 16, 2001.(Hart-Scott-Rodino Antitrust Improvements Act of 1976)(Cox Enterprises Inc.)(Manheim Remarketing LP.)
August 16, 2001... Byline: Jaret Seiberg The Federal Trade Commission said Aug. 14 that it does not have antitrust objections to a deal between Cox Enterprises Inc. and Manheim Remarketing LP. Other transactions receiving early termination notices under...

DOJ clears way for 3D's DTM buy.(3D Systems Corp.)(DTM Corp.)
August 16, 2001... Byline: Jaret Seiberg WASHINGTON -- The Department of Justice dropped an antitrust challenge to 3D Systems Corp.'s $45 million acquisition of DTM Corp. after the companies agreed Aug. 16 to license technologies used to create...

Buyout group ups bid for Asda Property.(Asda Property Holdings PLC)(British Land Company PLC)
August 16, 2001... Byline: Siobhan Almond DUBLIN -- BL Davidson offered [pound]231.7 million ($334 million) in cash Aug. 16 for commercial real estate company Asda Property Holdings plc, after Asda spurned two earlier lower bids. BL Davidson is a...

Russian tycoon's bid for Magnitogorsk stalls.(Alexei Mordashov and Iskander Makhmudov vie to be largest steel maker)
August 16, 2001... Byline: John Helmer MOSCOW -- There is a new twist in the battle between Russian tycoons Alexei Mordashov and Iskander Makhmudov for Russia's largest steel maker, Magnitogorsk Metal Combine. This time, it comes in the form of Mordashov's...

Botin becomes sole chairman of BSCH.(Banco Santander S.A.)
August 16, 2001... Byline: Mike Elkin MADRID -- Prominent Spanish banker Emilio Botin has assumed full control of the country's largest bank, Banco Santander Central Hispano SA, after the early resignation of his co-chairman, Jose Maria Amusategui,...

Rabble Babble.(business news online information services)
August 16, 2001... Byline: Stacy Mosher The news never rests, and nowhere is it busier than on the Internet bulletin boards. This column excerpts the choicest messages on the latest deals. Postings are selected from several sources, including Yahoo!,...

MCB and Business Bancorp to merge.(MCB Financial Corp.)(Business Bancorp)
August 16, 2001... Byline: Greg Johnson MCB Financial Corp., the San Rafael, Calif., parent of Metro Commerce Bank, said Aug. 16 it would combine with Business Bancorp, the San Bernardino, Calif., parent of Business Bank of California in a deal both banks...

General Growth buys second Tucson mall.
August 16, 2001... Byline: Kelly Holman General Growth Properties Inc. has muscled up its presence in Tucson, Ariz., with the acquisition of the Tucson Mall from Cleveland real estate company Forest City Enterprises Inc.. for $180 million. The Chicago...

Nippon Suisan to catch Gorton's brand.
August 16, 2001... Byline: David Carey and Soma Biswas Nippon Suisan Kaisha Ltd., a Japanese seafood processor and distributor, is close to a deal to haul in the Gorton frozen fish brand from Unilever plc, according to industry sources. The Tokyo-based...

Small deal could net big impact for Palm.(Palm Inc.)(Be Inc.)
August 16, 2001... Byline: David Shabelman SAN FRANCISCO -- A year ago, Palm Inc.'s $11 million deal Aug. 16 to buy the intellectual property and technology assets of Be Inc. would have drawn scant attention. With prospects souring for the mobile computer...

Schwan's buys Edwards Fine Foods.(Schwan's Sales Enterprises Inc.)(Edwards Fine Foods)
August 16, 2001... Byline: Kelly Holman New York private equity firm Ripplewood Holdings llc said Aug. 16 it sold Edwards Fine Foods to Schwan's Sales Enterprises Inc. for more than $200 million. "Edwards has performed quite well for Ripplewood and...

Scuzzy math.(analysis of Adaptec Inc.'s acquisition of Platys Communications Inc.)
August 16, 2001... Byline: Danny Fortson When Adaptec Inc., a company that makes data storage interface cards, agreed to pay $150 million in July for little-known Platys Communications Inc., Adaptec was, at the same time, busy laying off 775 workers. ...

Ultryx backers re-invest.
August 16, 2001... Byline: Tyson Freeman Manufacturing software company Ultryx Corp. has squeezed financing from a dry venture capital environment, completing a $6.5 million Series B financing. ABB New Ventures Ltd. led the round with a strategic...

TestQuest raises $9M for software plan.
August 16, 2001... Byline: Lou Whiteman An 18-year-old company under new management has secured $9 million in a second round of venture capital funding it hopes will return it to profitability. TestQuest Inc. of Minneapolis took in the funding in a...

Nexo secures $3.7M first round.
August 16, 2001... Byline: Joshua Jaffe In a venture capital financing deal highlighting the importance of strategic investors, Lugano, Switzerland-based venture capital firm ETF Group said Aug. 16 it led a [Euro]4 million ($3.7 million) first round of...

Amerigroup Corp.
August 16, 2001... Virginia Beach, Va.-based Amerigroup Corp. added CIBC World Markets Corp. and Stephens Inc. to its list of underwriters for its $83.6 million IPO. The company will issue 4.4 million shares at $17 to $19 per share. Amerigroup is a managed...

Bankgesellschaft Berlin agrees to restructure plan.
August 16, 2001... Berlin's troubled part publicly owned, part private banking group Bankgesellschaft Berlin AG will be restructured as a single business with a limited number of subsidiaries in a bid to return the bank to profitability. But the restructuring...

Biotech Ventures Investment.(Genemedix)
August 16, 2001... Hong Kong-based Genemedix will launch a $50 million venture capital fund in September in Singapore. The fund, Biotech Ventures Investment, will invest primarily in biotech. www.TheDeal.com

Cinepix.
August 16, 2001... South Korean animation house Cinepix has secured $2 million from Malaysian investment firm Internet Technology Asia Ventures Sdn Bhd, Asia Pulse reports. Cinapix manufactures and distributes cinema and television animation in South Korea and...

Cogent Communications.(Brief Article)
August 16, 2001... San Jose, Calif.-based Cogent Communications, a high-speed Internet service provider, is nearing the close of a $200 million-plus third round of funding. That's according to its CFO, Helen Lee, who announced the funding to attendees at the...

Covast.(Brief Article)
August 16, 2001... Integration software provider Covast Corp. of Atlanta and the Netherlands has pulled in $6 million for its first round of funding, it said Wednesday. That includes a $1.5 million investment from LogiSpring on top of the $4.5 million the...

Entergy buys Vermont Yankee plant.(Vermont Yankee Nuclear Power Corp.)(Brief Article)
August 16, 2001... New Orleans utility Entergy Corp. said Wednesday it had agreed to acquire the 510-megawatt Vermont Yankee nuclear power plant in Vernon, Vt., from a group of 12 utilities, including Central Vermont Public Service Corp., National Grid Group...

Environmental Support Solutions.(Brief Article)
August 16, 2001... Tempe, Ariz., environmental technology company Environmental Support Solutions has closed a $3.5 million second round of financing from Harvard Investments, the U.S. operating arm of the Canadian Hill Cos. The proceeds will be used to acquire...

Fast Technology.(Brief Article)
August 16, 2001... Ottobrun, Germany-based Fast Technology AG, a developer of steering and control system sensors, has received $10 million in early-stage financing, The European Venture Capital Journal reported. The investment was led by Deutsche Venture...

Fiserv buying assets of FHLBank.(Federal Home Loan Bank of Pittsburgh)(Brief Article)
August 16, 2001... Fiserv Inc., a Brookfield, Wis., supplier of technology services to financial companies, said Wednesday it is acquiring the check and document processing business of the Federal Home Loan Bank of Pittsburgh for an undisclosed sum. The deal...

Foodmaker Danisco expands in Asia.
August 16, 2001... Danish food ingredient and sugar processor Danisco AS gained a platform for expansion in the Asia Pacific region Wednesday with the $100 million purchase of Germantown, a subsidiary of Australian food maker Goodman Fielder Ltd. Germantown...

InfiniSwitch.
August 16, 2001... Switching technology company InfiniSwitch Corp. of Westbourough, Mass., has landed $26 million in Series B financing led by Bessemer Venture Partners. Other investors in the round included OneLiberty Ventures and NewcoGen Group, both return...

Investor withdraws Great Lakes Aviation offer.(Tennenbaum and Company L.L.C.)
August 16, 2001... Tennenbaum & Co. llc, a Los Angeles firm headed by investor Michael Tennenbaum, withdrew its $31.2 million offer for Great Lakes Aviation Ltd. Wednesday, after Great Lakes reported a steep decline in quarterly revenues and profit. The...

Magma Design.(Magma Design Automation Inc.)
August 16, 2001... Cupertino, Calif.-based Magma Design Automation Inc. set the price of its shares in its initial public offering at $11 per share and the number of shares at 4 million. The IPO will total $44 million. The company designs and implements...

Medialink reviews bid from United Business Media.
August 16, 2001... Medialink Worldwide Inc. said Wednesday it is considering an unsolicited $5-a-share offer from Britain's United Business Media plc. "We received the unsolicited offer and are reviewing it," Medialink said in a statement. Hoping to give its PR...

Sale of Enel's Nicaraguan power plants delayed.
August 16, 2001... The sale of six power generators run by Nicaraguan state-owned electricity company Enel have been put on an indefinite hold, after three companies failed to present bids. A Nicaraguan government official said Enron Corp. did not bid before...

ThoughtShare acquired by Meteor.(ThoughtShare Communications Inc.)(Meteor Technologies Inc.)
August 16, 2001... Meteor Technologies Inc., a Vancouver, British Columbia, software developer, has bought out its crosstown rival, ThoughtShare Communications Inc. for C$4.13 million ($2.7 million) in stock. In a statement Wednesday, ThoughtShare said MTI...

Timber Co., Plum Creek shareholders OK merger.(Georgia-Pacific Corp.)(Plum Creek Timber Co.)(Timber Co.)
August 16, 2001... Shareholders in forest companies Plum Creek Timber Co. and The Timber Co. approved their $3.8 billion merger Wednesday. In July 2000, Atlanta's Georgia-Pacific Corp. announced the sale of its Timber Co. unit to Seattle-based Plum Creek, a...

Ultrak in talks to buy Red Cube.(Red Cube International AG)
August 16, 2001... Ultrak Inc., a Lewisville, Texas, maker of security products, said Wednesday it is taking part in preliminary talks to acquire privately held Red Cube International AG, a Zug, Switzerland, maker of mobile communications. Ultrak said it might...

VerticalResponse.
August 16, 2001... San Francisco self-service e-mail marketing company VerticalResponse has completed their Series A funding round with $505,000. Participants in the round include former investors Xoom.com, publisher Bob Ellis, vice president Paradysz Matera,...

Webscreen Technology.
August 16, 2001... London-based Webscreen Technology Ltd., a developer of infrastructure appliance technology that specializes in preventing hacker attacks, announced Wednesday the completion of a $1.4 million, Series A funding. Saffron Hill Ventures and East...

mPayment.(mPayment Ptd. Ltd)
August 16, 2001... Singapore Technologies Engineering Ltd. has acquired 19.8% of mPayment Ptd. Ltd. for $56,455, according to a report in Asia Pulse. mPayment, which is also based in Singapore, has patent-pending technologies designed to enable mobile commerce...

FutureLink fighting to stay alive.(Brief Article)
August 15, 2001... Byline: Terry Brennan Bankrupt FutureLink Corp., an information technology provider in Lake Forest, Calif., is scheduled to appear Monday in bankruptcy court in New York to seek approval for cash collateral to continue operations, the...

BofA exits subprime lending, auto leasing.(Bank of America Corp)(Brief Article)
August 15, 2001... Byline: Kelly Holman Bank of America Corp. said Aug. 15 that it has decided to exit its subprime real estate lending business and auto leasing operations. In a conference call, BofA CEO and chairman Kenneth Lewis said the net income...

Metromedia hurt as uncertainty persists.
August 15, 2001... Byline: Leon Lazaroff Shares of Metromedia Fiber Networks Inc. fell sharply the morning of Aug. 15 following an announcement that the city-focused broadband builder and services provider could not guarantee an agreement with potential...

Palladium completes Haden buy.(Brief Article)
August 15, 2001... Byline: Kelly Holman New York private equity firm Palladium Equity Partners has completed its acquisition of Haden International Group in a deal valued at close to $65 million. Palladium invested $40 million in equity from its $300...

geoVue nabs $2.8M first round.(Brief Article)
August 15, 2001... Byline: Katherine Goncharoff As a business analysis software provider, having a name that conjures up a genomics company may not be wise, even if that is a hot funding sector these days. That is the hard lesson Geonomics Inc. learned...

Latin American airlines talk sales, mergers.
August 15, 2001... Byline: Ivan Castano These days the mood at Buenos Aires' Ezeiza airport, home of beleaguered Aerolineas Argentinas SA, is far from cheerful, as the country's once-proud emblem of air travel hovers on the edge of liquidation. ...

Sage grabs $5M flat round.
August 15, 2001... Byline: Danny Fortson The technology being developed by Sage Systems Inc., which aims to wire up homes with smart appliances and gadgets that can be remotely controlled via the Internet proved a hard sell to venture capital and strategic...

A conversation with Generation's Mark Jennings.(Generation Partners Managing Partner Mark Jennings)(Brief Article)
August 15, 2001... Byline: David Shabelman It is the best and worst of times to be a venture capitalist or buyout specialist in technology. Deep pocketed financiers can pick and choose targets, but there is ongoing concern about the technology sector's...

Digital Envoy carries home $10.5M.
August 15, 2001... Byline: Lou Whiteman Hoping to prove that the demise of Internet incubators has not led to its own downfall, the Silicon Valley investment bank formerly known as Garage.com announced Aug. 15 it had successfully arranged a $10.5 million...

Amerigroup.(increases per share price range for IPO)(Brief Article)
August 15, 2001... Managed health care company, Amerigroup Corp., increased the per share price range for its upcoming IPO to $17 to $19 from $15 to $17. In a filing Tuesday with the Securities and Exchange Commission, Amerigroup said that its underwriters had...

Aristotle holds talks with Geneve.(negotiating to purchase Geneve Corp)(Brief Article)
August 15, 2001... Aristotle Corp., a New Haven, Conn., parent to two makers of educational products, confirmed Tuesday that it is involved in buyout talks with Geneve Corp., a Stamford, Conn.-based venture capital fund and Aristotle's largest shareholder....

Captura.(softwre firm receives funding as part of Accenture alliance)(Brief Article)
August 15, 2001... Kirkland, Wash.-based Captura Inc., a provider of Web-based expense management software, has received funding as part of a broader alliance with Accenture. Terms call for Accenture to use Captura's software to help clients detail expense...

Claims Direct founders claim victory in buyout bid.(Barker Securities)(Brief Article)
August 15, 2001... The founders of Claims Direct plc clinched the U.K. personal injury specialist Tuesday after their [pound]19.4 million ($27.7 million) bid won the "reluctant" backing of the company's independent directors. Barker Securities, the vehicle for...

CrossWeave.(software company obtains financing)(Company Financial Information)(Brief Article)
August 15, 2001... Internet infrastructure software provider CrossWeave Inc. has completed an $8.1 million Series B round of financing. The round was led by Norwest Venture Partners and included investments from Series A investors Sutter Hill Ventures and...

DQE plans to sell $335M in assets.(Pennsylvania utility)(Brief Article)
August 15, 2001... DQE Inc., an electricity and water provider in Coraopolis, Pa., said Tuesday it was taking itself off the block and would instead sell $335 million in noncore assets to refocus on its utility business. The assets include propane systems worth...

Delinea.(closes second round of financing)(Brief Article)
August 15, 2001... Dallas-based Delinea Corp., a provider of digital services and technology platforms specifically designed to serve the energy industry, has closed a $6.6 million second round of funding. Lead investors Dynegy Inc. and Valley Ventures, joined...

Digital Envoy.(software company receives Series A funding)(Brief Article)
August 15, 2001... Atlanta-based Digital Envoy Inc., a software developer, said Tuesday it has received a Series A round of funding from Siemens Venture Capital, AOL Time Warner Ventures and H&Q Asia Pacific. Previous investors include Frontier Capital, Cordova...

FTC issues second request in Monster, HotJobs deal.(internet service merger legal issues)(Brief Article)
August 15, 2001... The U.S. Federal Trade Commission has asked TMP Worldwide Inc. and HotJobs.com Ltd. for additional information in connection with TMP's pending acquisition of HotJobs. The request for information was issued under notification requirements of...

Global Platinum options property.(mining company)(Brief Article)
August 15, 2001... Salt Lake City mining company Global Platinum + Gold Inc. said Tuesday it has obtained an option to buy the Hassayampa mining property in Arizona for about $3 million from C&W Mining of Buckeye, Ariz. Global, which already leases the 120...

Isilon Systems.(Series A financing)(Brief Article)
August 15, 2001... Network storage products developer Isilon Systems of Seattle has tapped $8.4 million in Series A funding from Atlas Venture and Madrona Venture Group. Proceeds from the round will be used for product development and launches. The company's...

Lawson Software.(Brief Article)
August 15, 2001... St. Paul, Minn.-based Lawson Software Inc. set the price of its initial public offering at $15 to $17 per share. The company's IPO will total up to $215.9 million with 12.7 million shares. Net proceeds from the offering will be used to repay...

Morphotek.(Brief Article)
August 15, 2001... Biotechnology company Morphotek Inc. of Philadelphia has tapped $10 million in second-round financing led by Applied Genomic Technology Capital Funds and other new investors Burrill & Co. and CB Healthcare Ventures. Return investors Tonbridge...

No new bidders for PSINet assets.(Brief Article)
August 15, 2001... No new offers were made for bankrupt PSINet Inc.'s Canadian and Hong Kong assets before a deadline late last week, leaving Telus Corp. and Citic Pacific Ltd. as the only bidders at a Tuesday auction of the assets. Telus, a Burnaby, British...

OpenGlobe.(Brief Article)
August 15, 2001... Indianapolis-based OpenGlobe Inc. has raised $14.9 million in its first round of venture capital funding. The company's Series A round was led by Lazard Freres & Co., with participation from Lazard Venture Advisors, Baystar Capital, Texas...

OrSense.(Brief Article)
August 15, 2001... Rehovot, Israel-based OrSense Ltd., which is developing blood-glucose monitoring devices, has garnered $8.2 million in venture capital financing led by STAR Ventures and Israel Health Care Ventures. Other undisclosed investors in the U.S.,...

Q-Optics.(Brief Article)
August 15, 2001... New York-based communications infrastructure company Q-Optics announced Tuesday the closing of its $11 million Series A investment round led by global private equity firm Warburg Pincus. The investor group also included The Hatch Group,...

Royal Bank buys Euro Sales.(Brief Article)
August 15, 2001... Royal Bank of Scotland Group plc said Tuesday it agreed to buy Euro Sales Finance plc, a U.K. lender to small and medium-sized European growth companies, for [pound]68 million ($97 million) or 440 pence a share. Charles Williams and Graham...

Sage Systems.(Brief Article)
August 15, 2001... Networking startup Sage Systems Inc. of Alameda, Calif., has secured $5 million in Series C financing. New investor Nth Power, a VC firm focused on the energy sector, led the round, with support from existing shareholder Cardinal Venture...

Sara Lee completes $2.8B Earthgrains acquisition.(Brief Article)
August 15, 2001... Sara Lee Corp. said Tuesday it has completed its $2.8 billion transaction to buy the Earthgrains Co., the second largest maker of fresh bread in the U.S. Earthgrains is known for such brands as Iron Kids, Earth Grains and Grant's Farm. "With...

Star Gas Partners finishes Meenan Oil takeover.(Brief Article)
August 15, 2001... Star Gas Partners LP, a home energy distributor in Stamford, Conn., said Tuesday it completed its purchase of Meenan Oil Inc. of Syosset, N.Y., for about $120 million. Star Gas said it would finance half the acquisition with proceeds from its...

TheraSense Inc.(Brief Article)
August 15, 2001... Glucose self-monitoring device maker, TheraSense Inc., set the price of its initial public offering at $18 to $20 per share. The offering will total up to $120 million with 6 million shares. The Alameda, Calif.-based company intends to use...

United Business gets Medialink.(Brief Article)
August 15, 2001... Hoping to give its PR Newswire division a boost, Britain's United Business Media plc said Tuesday it would buy corporate news rival Medialink Worldwide Inc. in a transaction valued at $29 million. UBM, which also owns NOP World Market...

Vitex completes $32M divestiture of plasma unit.(Brief Article)
August 15, 2001... Watertown, Mass., biotech company V.I. Technologies Inc. said Tuesday it completed the $32 million sale of its plasma division. V.I. Tech (Vitex) said it would receive $25 million cash. The remaining consideration includes a $3.5 million...