The Daily Deal articles from December 2001

The Daily Deal archives from December 2001

Boingo Wireless.
December 28, 2001... Internet service provider Boingo Wireless Inc. of Santa Monica, Calif., has emerged from stealth mode with $15 million Series A funding from New Enterprise Associates, Sprint PCS and Evercore Ventures. Boingo, founded by EarthLink Inc....

CompuCredit gets $40M in private equity funding.
December 28, 2001... Atlanta-based credit card marketer CompuCredit Corp. said Thursday that it raised $40 million selling newly issued preferred stock to a group of investors that included J.P. Morgan Corsair II Capital Partners LP, Paladin Capital Partners Fund...

FFE sells W&B Refrigeration assets.
December 28, 2001... Frozen Food Express Industries Inc., a Dallas truck hauler of refrigerated freight, said last week that it has sold the trailer and refrigeration equipment of its W&B Refrigeration Service Co. division for about $15 million to the unit's...

First Lincolnwood is sold.
December 28, 2001... MB Financial Inc., the Chicago parent company of MB Financial Bank, has once again hit the acquisition trail. MB announced last week that it has agreed to acquire First Lincolnwood Corp., the Lincolnwood, Ill., holding company for First...

Journee Software.
December 28, 2001... Austin, Texas-based Journee Software, a maker of data integration and management software for customer relationship management companies, picked up $10 million in a financing round led by StarVest Partners LP, along with previous investors...

Macerich to sell Villa Marina.
December 28, 2001... Macerich Co. said last week that it is selling the Villa Marina Marketplace it owns in Marina Del Rey, Calif., for about $99 million. The sale price includes assumption of a $58 million mortgage. The Santa Monica, Calif., real estate...

MitoKor.
December 28, 2001... Biotech startup MitoKor Inc. of San Diego has secured $25 million in financing from new investors Federated Kaufmann Fund, Orbitex Health and Biotechnology Funds, Palladin Group, China Development Industrial Bank, First Bio Venture Capital...

Orion Power, Reliant Resources get DOJ, NY nods.
December 28, 2001... Baltimore power generator Orion Power Holdings Inc. and Houston energy company Reliant Resources Inc. said last week that the U.S. Department of Justice has granted early termination of the waiting period for their proposed $2.9 million...

Pennsylvania REIT buys Westpark.
December 28, 2001... Keystone Property Trust, a West Conshohocken, Pa., real estate investment trust, said last week that it has acquired the Westpark Business Center in Allentown, Pa., for $55.6 million. Keystone did not disclose the name of the seller but said...

Proximity goes to ACT for $4.8M.
December 28, 2001... ACT Teleconferencing Inc., a Golden, Colo., provider of Internet videoconferencing services, said last week it agreed to acquire Burlington, Vt., rival Proximity Inc. for $4.8 million. Under the terms, ACT said it would part with 350,000...

Sale of Thomson Financial publications is delayed.
December 28, 2001... What should be the final stage for the auction of Thomson Financial's print publications was put on hold over the holidays, and will resume this month, according to a source close to the process. According to several sources, a group led by...

TargetRx.
December 28, 2001... Horsham, Pa.-based pharmaceutical marketing information services company TargetRx has raised a $10 million Series C round of financing led by Acacia Venture Partners and including previous investors New Enterprise Associates and Domain...

Third Security, Laidlaw Global agree to new deal.
December 28, 2001... Laidlaw Global Corp. last week terminated one transaction with Third Security llc, a private investment group based in Radford, Va., but struck a different deal. Laidlaw, a New York provider of investment services, said it canceled a Dec. 3...

Torsana Oncology Systems.
December 28, 2001... Denmark-based Torsana Oncology Systems, a subsidiary of Danish company Torsana and a healthcare startup involved in the development of a system for the early treatment of cancer, has signed a contract for a capital infusion of Dkr42 million...

Yahoo! wins bidding battle for HotJobs.com.
December 28, 2001... Yahoo! Inc. will be an instant competitor in the online recruiting market after succeeding in its bid for HotJobs.com Ltd. Yahoo!'s $436 million offer was deemed superior to TMP Worldwide Inc.'s bid, and Yahoo! takes home the prize after TMP...

Anteon International.
December 27, 2001... Anteon International Corp. of Fairfax, Va. has filed for a $230 million initial public offering. The company has yet to set the price and number of shares. Anteon provides information technology and advanced engineering services by designing,...

Corcept Therapeutics.
December 27, 2001... Corcept Therapeutics Inc. of Menlo Park, Calif. has filed for an IPO of up to $90 million. The company has yet to set the price and shares of the IPO. The issuer is a pharmaceutical company developing drugs to treat severe psychiatric and...

Petco Animal Supplies.
December 27, 2001... San Diego-based Petco Animal Supplies Inc. filed for a $287.5 million IPO. The company has yet to set the range. Petco, one of two national specialty retailers of pet food and supplies, has 560 stores in 41 states and the District of...

Abidon.
December 24, 2001... Rockford, Ill.-based Abidon Inc. filed for an $81 million initial public offering. The company set the price of its IPO at $18 per share and the number of shares at 4.5 million. The company leases office and retail space and operates the...

... while ICG finally files its reorganization plan.
December 21, 2001... More than a year after filing for bankruptcy, Englewood, Colo., telecommunications upstart ICG Communications Inc. has filed its reorganization plan with the U.S. Bankruptcy Court in Delaware. ICG said it has more than $150 million in cash on...

2PM Technologies.
December 21, 2001... Athlone, Ireland-based 2PM Technologies raised [Euro]3.3 million ($3 million) in its first institutional funding round, valuing the company at [Euro]16.5 million. The company is developing a hardware product which allows phone users to...

Allianz given inside track for Poistovna stake.
December 21, 2001... Germany's largest insurer, Allianz AG, has been named the preferred bidder for the Slovak government's controlling stake of Slovakia's dominant insurer Slovenska Poistovna, or SP. Allianz declined to reveal the terms but said it will...

Associated Materials hires adviser.
December 21, 2001... Dallas building products manufacturer Associated Materials Inc. may be planning to sell out. The company has hired Salomon Smith Barney to look into strategic alternatives such as re-capitalizing the firm or finding a buyer. Dwain Carryl, an...

Collins & Aikman Closes Textron.
December 21, 2001... Collins & Aikman Corp. said Thursday it closed the $1.24 billion buyout of Textron Inc.'s auto-trim business. The two sides reached a deal in August and cut the price by $100 million this month. C&A is controlled by Heartland Industrial...

Com Dev selling wireless assets.
December 21, 2001... Canadian wireless and space communications hardware maker Com Dev International Ltd. said Thursday it would sell parts of its wireless division to Mitec Telecom Inc. for $23 million. The deal for Com Dev's RF conditioning and satellite ground...

Covad emerges from bankruptcy protection ...
December 21, 2001... Four months after filing a Chapter 11 petition, Covad Communications Group Inc. exited bankruptcy Thursday. The Santa Clara, Calif., high-speed Internet service provider said it has eliminated $1.4 billion in debts in a deal with its...

Design2Launch.
December 21, 2001... Stamford, Conn.-based Design2Launch Inc. is nearing completion of a $3 million Series A round of financing, according to chief financial officer Alison Malloy. New York-based Quantum Venture Partners LP is leading the round, with support from...

Dialysis Systems.
December 21, 2001... Nashville-based water purification systems maker Dialysis Systems Inc. has lassoed $1.5 million in Series A funding from new investor Aavin Equity Partners. The fresh cash will boost marketing, intellectual property and facilities expansion...

Guava Technologies.
December 21, 2001... Burlingame, Calif.-based Guava Technologies Inc., a biotech firm that develops, manufactures and markets cellular analysis systems, said Thursday it has closed on a $6 million Series D round of funding to facilitate its expansion into Japan....

Hawaiian, Aloha airlines merging.
December 21, 2001... Hoping to beat a drop in business, Hawaiian Airlines Inc. and its Islands rival, Aloha Airgroup Inc., are planning to merge in a transaction said to be valued at $170 million. Hawaiian Airlines shareholders will receive 52% of the stock of...

IKOS Systems rejects Mentor Graphics offer.
December 21, 2001... The board of San Jose, Calif., chip testing software maker IKOS Systems Inc. has recommended that shareholders reject an unsolicited offer from Mentor Graphics Corp. and stand by a plan to merge with Mountain View, Calif., design automation...

Ignition Partners.
December 21, 2001... Bellevue, Wash.-based early- and seed-stage venture capital firm Ignition Partners closed on its second fund, $285 million Ignition Venture Partners II LP. The money came from endowments, foundations and pension funds, as well as computing...

Integrated DefenseTechnologies.
December 21, 2001... Huntsville, Ala.-based Integrated Defense Technologies Inc. filed for a $125 million initial public offering. The company has yet to set the range. Integrated Defense develops advanced electronics technology products for the defense and...

Lawmakers leave D.C., leave NextWave hanging.
December 21, 2001... House members left Thursday for the Christmas holiday without passing legislation permitting the government to settle a wireless license dispute with NextWave Telecom Inc., a bankrupt wireless carrier. Lawmakers reconvene Jan. 23. NextWave,...

Level 3 is selling off Asian units.
December 21, 2001... Broomfield, Colo., telecom Level 3 Communications Inc., saying its largest bandwidth consumers in North America and Europe were more profitable than its Asian ones, sold off assets in Japan, Korea, Hong Kong and Taiwan to Reach Ltd., its...

Mirant plans to sell assets worth $1.6 billion.
December 21, 2001... Atlanta power producer Mirant Corp. said Thursday it would sell $1.6 billion worth of assets as part of a plan to boost liquidity and strengthen its balance sheet. The divestitures will include the already announced sale of 44.8% of German...

Mountain View Data.
December 21, 2001... San Francisco's Mountain View Data Inc., an advanced storage software provider, said Thursday it has closed on $3 million in Series A funding. Investors include Nippon Venture Capital, Orix Capital and Tsunami Network Partners. Tsunami will...

National Golf hires Lazard.
December 21, 2001... Santa Monica, Calif.-based National Golf Properties Inc. said Thursday that an independent committee of its board of directors retained Lazard as a financial adviser and Wachtell Lipton Rosen & Katz as a legal adviser in connection with the...

Pindar Systems.
December 21, 2001... Catalog production software developer Pindar Systems of Chicago has closed on $3.5 million in second-round financing from previous investors Granville Baird Capital Partners and Pindar Systems' former parent, The Pindar Group. The company,...

ViaSat buying US Monolithics.
December 21, 2001... Carlsbad, Calif., satellite equipment maker ViaSat Inc. said Thursday it would acquire privately held US Monolithics llc for $30 million in cash and stock. ViaSat will issue 1.1 million shares and acquire all of the preferred units of USM and...

ASML sells Tinsley to SSG Precision Optronics.
December 20, 2001... Dutch semiconductor equipment maker ASM Lithography Holding NV said Wednesday it sold Tinsley Laboratories Inc. to Richmond, Calif.-based SSG Precision Optronics Inc. Tinsley makes lenses used in the manufacture of chips for missile and...

Blueair.
December 20, 2001... Supply-chain collaboration software provider Blueair Networks Inc. of Ottawa has netted $4 million in third-round funding from VenGrowth Capital Partners and BDC Venture Capital. The fresh cash will be used for technology and product...

Bulova defense unit sold to L-3.
December 20, 2001... L-3 Communications Holdings Inc., the New York parent of L-3 Communications Corp., said Wednesday it is snapping up the defense business of Bulova Technologies llc for about $44 million in cash. L-3 expects the deal to add about $55 million...

Burkle cuts stake in Fleming.
December 20, 2001... Los Angeles investor Ronald Burkle apparently has sold most of his stake in Fleming Cos. The Dallas-based food distributor said Wednesday that it believed Burkle's investment vehicle, Yucaipa Cos., sold about 3.4 million Fleming shares to...

California bank swings $193M deal.
December 20, 2001... Greater Bay Bancorp, a Palo Alto, Calif., parent of 10 regional banks, said Wednesday it would buy Redwood City, Calif., insurance broker ABD Insurance and Financial Services Inc. in a transaction that is valued up to $193.6 million. GBB said...

GenoSpectra.
December 20, 2001... Life science technology company GenoSpectra Inc. of Fremont, Calif., has closed on $20 million in Series B funding led by Frazier Healthcare Ventures. Other participants in the round included Novartis BioVentures, HBM BioVentures the...

Handspring gets $10M investment.
December 20, 2001... Handheld device maker Handspring Inc. said Wednesday it had received a $10 million investment from Qualcomm Inc. and would raise another $38.5 million through a public offering. The Mountain View, Calif.-based company said Wednesday it was...

Instrumentel.
December 20, 2001... London-based private equity firm Aberdeen Murray Johnston said Wednesday the White Rose Technology Seedcorn Fund it manages invested [pound]250,000 ($364,000) into University of Leeds spinout Instrumentel Ltd. The startup will use the money...

Kinowelt Medien goes bankrupt.
December 20, 2001... Struggling German film and cinema group Kinowelt Medien AG and its licensing subsidiary Kinowelt Lizenzverwertungs GmbH filed for bankruptcy Wednesday, after bailout talks with ABN Amro Bank NV failed. The application filed with the Munich...

La Vie en Rose.
December 20, 2001... Lingerie boutique chain La Vie en Rose of Quebec has landed $2 million in funding from CDP Montreal Mode Investissements, a subsidiary of fund manager CDP Capital. Proceeds from the funding are earmarked for expansion of La Vie en Rose...

Libbey considers fighting for Anchor Hocking.
December 20, 2001... Libbey Inc. said Wednesday it has not yet decided whether it will abandon its $332 million acquisition of Newell Rubbermaid Inc.'s Anchor Hocking unit or fight in court the Federal Trade Commission's objections to the deal. The FTC voted 5-0...

N.C. banks agree to merge.
December 20, 2001... Bank of North Carolina of Thomasville, N.C., said Wednesday it would merge with Kernersville, N.C.-based Independence Bank in a transaction valued at about $7 million. Under the terms, Independence shareholders receive either 1.16 shares of...

NeoGenesis Pharmaceuticals.
December 20, 2001... Drug discovery company NeoGenesis Pharmaceuticals Inc. set the range of its initial public offering at $12-$14 per share for 6.2 million shares, or $87 million in total. The Cambridge, Mass.-based genomics and proteomics company will use the...

PolyTechnos.
December 20, 2001... Munich-based venture capital firm PolyTechnos Venture-Partners said Wednesday it has completed the first closing of its second venture fund, PolyTechnos Venture Fund II, at [Euro]120 million ($108 million). American investors such as Bank of...

Price, Verizon revamp $1.7 billion transaction.
December 20, 2001... Verizon Wireless agreed to a $1.7 billion deal to purchase the business operations of Price Communications Wireless. The pact replaces a stock-for-stock agreement signed in November 2000 that had hinged on Verizon Wireless executing an...

Proficient Systems.
December 20, 2001... Sales software maker Proficient Systems Inc. of Atlanta has landed $3 million in second round funding from Atlanta-based investors Fuqua Ventures and Kinetic Ventures, both return investors. Proficient Systems' CEO Gregg Freishtat also...

Reliant Pharmaceuticals.
December 20, 2001... New Jersey-based Reliant Pharmaceuticals llc has raised $150 million in a Series C funding round that remains open. The round was led by a $100 million investment from drug delivery products developer Alkermes of Cambridge, Mass. Existing...

SMEloan.
December 20, 2001... Hong Kong finance company SMEloan has raised $20 million from the World Bank to support loans to small and medium-sized enterprises throughout the Asia-Pacific region, the South China Post reported. The investment was made through the World...

Texas court gets Dynegy's suit over Enron pipeline.
December 20, 2001... Houston energy company Dynegy Inc. said Wednesday a federal judge in Houston granted its request to have its lawsuit to take over Northern Natural Gas pipeline system from crosstown rival Enron Corp. heard in a Texas state court. Enron wanted...

Travelers Property Casualty.
December 20, 2001... Citigroup Inc. said it plans to spin off Travelers Property Casualty Corp. by selling up to 20% in an IPO and placing the rest in a tax-free distribution to shareholders. In a press release Wednesday, Citigroup says it expects to do the IPO...

Valero sets close of Ultramar Diamond deal.
December 20, 2001... San Antonio refiners Valero Energy Corp. and Ultramar Diamond Shamrock Corp. said Wednesday the Federal Trade Commission approved a consent decree allowing them to complete their merger. Closing is set for Dec. 31. Valero announced the $6...

Vitalife Life Sciences Fund.
December 20, 2001... Boston Scientific Corp. said Wednesday it has invested in Vitalife Life Sciences Fund, a Tel Aviv-based venture capital fund that invests in life science and biotechnology companies. The size of the investment was not announced, but venture...

Warburg Pincus in Central Europe pharma rollup.
December 20, 2001... New York's Warburg Pincus llc, a majority owner of Leciva as, the largest pharmaceutical company in the Czech Republic, has signed a letter of intent with SL Pharma Holding of Austria, to acquire majority control of Leciva's leading Slovakian...

Algoma Steel reaches pact with labor unions.
December 19, 2001... Insolvent Algoma Steel Inc. has reached a deal with its union on new contracts that will prevent the Sault Ste. Marie, Ontario, steelmaker from sinking into bankruptcy. Ratification votes on the contracts are scheduled for Friday. Algoma and...

Aristos Logic.
December 19, 2001... Foothill Ranch, Calif.-based Aristos Logic Corp., a chip developer for the networked storage market, said Tuesday it has raised $15.5 million in a Series B funding round led by J.P. Morgan Partners and TPG Ventures. Quantum Technology...

CIBC finalizes deal for Merrill Lynch Canada unit.
December 19, 2001... Canadian Imperial Bank of Commerce said Tuesday it finalized its acquisition of Merrill Lynch Canada Inc.'s Canadian private client and securities services businesses and will close the deal Dec. 28. The combined entity will operate as CIBC...

Chevin.
December 19, 2001... Rockville, Md.-based software firm Chevin Inc. has received a $1.25 million cash infusion from MTI, a venture capital firm based in Watford, England, which invested $5 million in the company in September. The investment was matched by an...

CorrectNet.
December 19, 2001... Hauppauge, N.Y.-based CorrectNet Inc., a developer of Web-based business software, has raised $5.25 million in first round funding. Investors include Edison Venture Fund, NewSpring Ventures and The CharlesSchwab Corp. Proceeds will be used...

Cytochroma.
December 19, 2001... Kingston, Ontario-based applied genomics and drug discovery company Cytochroma Inc. announced that it raised an additional C$3.5 million in its recent private equity financing, increasing total proceeds to C$15.5 million ($9.9 million)....

Korea Thrunet.
December 19, 2001... South Korea-based Internet access provider Korea Thrunet Co. has received a $10 million equity investment from Trigem Computers Inc. The investment was required as part of an earlier transaction completed by the SB Thrunet Fund LP-led...

MarkWest gets Alberta gas system.
December 19, 2001... Denver-based MarkWest Hydrocarbon Inc. said Tuesday it has acquired a gas gathering system in Alberta for C$3.1 million ($2 million) that includes six miles of pipelines and compression facilities that gather 5.5 million cubic feet per day...

MediaQ.
December 19, 2001... Santa Clara, Calif. based MediaQ Inc., a developer of semiconductors and software for handheld devices, secured $10.7 million as an extension of the company's third funding round, which closed in June 2000. National Semiconductor Corp....

Microsoft delays sale of its Expedia stake.
December 19, 2001... Microsoft Corp.'s sale of its stake in online travel site Expedia Inc. to USA Networks Inc. will be delayed due to USA Networks' pending deal to sell its entertainment arm to Vivendi Universal. The deal, announced in July, was expected to...

National Mercantile gets South Bay Bank.
December 19, 2001... National Mercantile Bancorp, the Los Angeles parent of Mercantile National Bank, said Tuesday it completed its $29.7 million acquisition of South Bay Bank NA of Torrance, Calif. National Mercantile said it paid $10.32 a share in cash to SBB...

Nextest Systems.
December 19, 2001... San Jose, Calif.-based Nextest Systems Corp., a manufacturer of automatic test equipment for cost-sensitive semiconductors, has raised $20 million in a round which was co-led by Needham Capital Partners and J. & W. Seligman & Co. and included...

Philex Gold sells mining stake.
December 19, 2001... Toronto-based Philex Gold Inc. said Tuesday it has agreed to sell to Anglo American Exploration (Philippines) BV a 10% equity interest in Silangan Mindano Mining Co. for $20 million. Silangan holds the rights for the Boyongan project in the...

Private equity firm Carlyle pumps $45M into Aviall.
December 19, 2001... Carlyle Group, a Washington, D.C., private equity firm, agreed to invest $45 million in newly issued convertible preferred stock of Aviall Inc., a Dallas provider of new aviation parts and services, the company said. Carlyle also will...

ReefEdge.
December 19, 2001... Fort Lee, N.J. based ReefEdge Inc., a maker of wireless local access network software, picked up $7 million in a third round of venture funding from Ericsson Venture Partners and Saturn Venture Partners. The company's initial $6.8 million...

Reliant builds $150M war chest.
December 19, 2001... Pharmaceuticals marketer Reliant Pharmaceuticals llc of Liberty Corner, N.J., raised $150 million to expand its portfolio of niche drugs. Cambridge, Mass.-based specialty drug maker Alkermes Inc. is investing $100 million for a 19% stake in...

Seabridge buys Oregon project.
December 19, 2001... Seabridge Resources of Toronto said Tuesday it has agreed to acquire the Quartz Mountain Gold Project in Lake County, Ore., from Quartz Mountain Resources Ltd. Under the terms, Seabridge will issue 300,000 of its common shares, 200,000 common...

Sweden's Securitas picks up VNV.
December 19, 2001... Sweden's Securitas AB, one of the world's biggest security companies, said Tuesday it was acquiring its closely held Dutch rival VNV Beveiliging BV for about SKr1.03 billion ($98.3 million). VNV is the second-largest security company in the...

Williams ready to open new talks with Yukos.
December 19, 2001... Tulsa, Okla., energy company Williams Cos. said Tuesday it is ready to restart negotiations to sell Russian oil company Yukos on a 26.7% stake in Lithuanian oil refiner and transporter Mazeikiu Nafta. Williams called off the deal Dec. 12 over...

Xantos Biomedicine.
December 19, 2001... Munich biotechnology company Xantos Biomedicine announced a [Euro]21 million ($20 million) second venture capital round Tuesday, Belgian News Digest reported. Belgian investment firm GIMV NV, U.S. Oxford Bioscience Partners and Global Life...

...and Dynegy plans to do the same.
December 18, 2001... Houston energy company Dynegy Inc. said Monday it would sell $375 million in assets as part of a $1.2 billion capital restructuring program. The announcement follows a similar move by crosstown rival El Paso Corp. last week to sell $2.5...