Intuit steps forward, buys StepUpIntuit Inc. (Nasdaq: INTU) has acquired StepUp Commerce Inc., a San Francisco-based provider of services that enable local businesses to convert online shoppers to in-store customers. The deal was valued at about $60 million in cash. StepUp had raised about $7 million in VC funding from such firms as Allegis Capital, Granite Ventures and Pennsylvania Equity Partners.
InvesTools laps up ThinkorSwimInvesTools Inc. (Nasdaq: IEDU) has agreed to acquire Chicago-based ThinkorSwim Group Inc., operator of an online brokerage platform. The deal is valued at about $340 million, including $170 million in cash and 19.1 million IEDU common shares (30% stake). To help fund the deal, InvesTools will receive a $125 million senior term loan and a $25 million revolving credit facility from JPMorgan. ThinkorSwim raised $22.5 million in VC funding in 2004 from Technology Crossover Ventures.
Art draws up deal to buy eStaraArt Technology Group Inc. (Nasdaq: ARTG) has agreed to acquire eStara Inc., a Reston, Va.-based provider of conversion solutions for enhancing online sales and support initiatives. The deal is valued at up to about $48 million, including $2 million in cash, a $6 million cash earn-out and about $15 million common shares of ATG stock. Estara raised $17 million in VC funding in 2000, including a $15 million infusion at a $25 million post-money valuation. Backers included Texas Pacific Group, One Equity Partners and JNet Ventures.
Quality Care purchased in $133M cash dealThe TriZetto Group Inc. (Nasdaq: TZIX) has agreed to acquire Phoenix-based health care software company Quality Care Solutions Inc. (QCSI) The deal includes a $133 million cash payment, the assumption of $1.2 million in debt and up to $12 million in possible future payments ($7 million earn out and a $5 million holdback). QCSI has raised more than $8 million in VC funding from such firms as Dominion Ventures, Grayhawk Venture Partners, Horizon Ventures and Sundance Venture Partners. Its last round was in 2000 at a post-money valuation of $30 million.
Fluencee buys MobitracFluencee Inc., an Englewood, Colo.-based provider of RFID-enabled asset management solutions, has acquired Mobitrac Inc., a Chicago-based provider of transportation execution systems. No financial terms were disclosed. Fluencee has raised VC funding from DFJ Mercury Venture Partners and Illinois Ventures. Mobitrac has raised about $13 million from such backers as Frazier Technology Ventures, Arch Development Partners, Illinois Ventures, Illinois Finance Authority, Mentor Management and U.S. Venture Partners.
EMC picks up Network IntelligenceEMC Corp. confirmed earlier press reports that it will pay about $175 million to acquire Network Intelligence Inc., a Westwood, Mass.-based provider of software that converts enterprise data into compliance and security information. Network Intelligence has raised about $25 million in VC funding from such firms as Ascent Venture Partners, Bain Capital Ventures, Egan Managed Capital, Castile Ventures and JMI Equity. In related news, EMC has completed its $2.1 billion buyout of RSA Security (Nasdaq: RSAS).