VC-backed Kaltura acquires Rapt Media

Kaltura, a video tech provider, has acquired Boulder, Colorado-based Rapt Media, an interactive personalized video startup. No financial terms were disclosed. Kaltura’s backers include SAP Ventures, Nokia Growth Partners, Intel Capital, Nexus Venture Partners and Commonfund Capital. PRESS RELEASE NEW YORK, NY – Kaltura, the leading video technology provider, announced today that is has acquired the interactive personalized video startup Rapt Media for an undisclosed amount. Rapt Media’s interactive branching video technology is ideal for personalized marketing, customer education, recruitment, learning and educational video experiences. Viewers are guided through different video paths depending on their behavior or selection at each level. The acquisition follows a successful partnership and integration in 2017 among companies – and several joint customer wins including Eli Lilly and Thomson Reuters – and solidifies Kaltura’s role as the leading global provider of interactive video capabilities. Rapt Media’s impressive roster of customers – including Mercedes,
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Pivotal China wraps up initial fund at $150 mln

Pivotal China has closed its inaugural fund at $150 million. Pivotal bioVenture Partners China USD Fund I will focus on incubating and building life sciences companies in China. PRESS RELEASE SHANGHAI, May 24, 2018 /PRNewswire/ — Pivotal bioVenture Partners China (Pivotal China), a member of Nan Fung Life Sciences (NLFS) announced today the closing of Pivotal bioVenture Partners China USD Fund I, raising $150 million to incubate and build Life Sciences companies in China. Pivotal China was founded by Mr. Vincent Cheung, who is the Chairman of NFLS and Managing Director and COO of Nan Fung Group. It is led by Dr. Jimmy Wei, Mr. Meng Gao and Mr. Shannon Cheung. Pivotal China will focus on incubating new life sciences companies in China by in-licensing innovative products and technologies that could serve unmet medical needs of the growing China market. Pivotal China will invest broadly in pharmaceuticals, devices and service
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Intel AI Head: ‘Vast Explosion of Applications’

"There is a vast explosion of applications," Naveen Rao, head of Intel's AI efforts, tells Barron's. "For the last few years, it was about the academic world and a few thousand people." But as new development tools mature, AI apps will exponentially grow among the world's community of 25 million to 35 million developers, Rao says.

Marlin acquires NCC ST, will merge with QualiTest

Marlin Equity Partners has acquired UK-based NCC Group SDLC Limited, a software testing business unit of NCC Group plc. No financial terms were disclosed. Marlin will merge NCC ST with portfolio company QualiTest. PRESS RELEASE LOS ANGELES and LONDON, May 24, 2018 – Marlin Equity Partners (“Marlin”) is pleased to announce that it has acquired NCC Group SDLC Limited (“NCC ST”), the software testing business unit of NCC Group plc. NCC ST is a leading specialist and provider of tailored solutions in software testing, quality assurance and test consultancy in the U.K., including performance and functional testing, bespoke automation tools and digital transformation assurance services. NCC ST will be merged with QualiTest, a Marlin portfolio company, further strengthening QualiTest’s sector expertise in public-sector and financial services projects and expanding its U.K. presence. “The acquisition of NCC ST is consistent with our objective to continue expanding our
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Germany Faces Gigawatt-Scale Loss of Onshore Wind Power

Germany could be facing a gigawatt-scale “decommissioning wave” in its onshore wind sector.

Writing earlier this month for the German-language magazine <em>Top Agrar</em>, Hinrich Neumann <a href="" >reported</a> that many of Germany&rsquo;s 28,000 onshore wind turbines could be decommissioned beginning in 2020.

Under Germany&rsquo;s <a href="" >Renewable Energy Act</a> (EEG), which took effect in 2000, renewable energy sources, including onshore wind turbines, secured priority grid access and guaranteed above-market payment for each kilowatt-hour delivered to the grid. These feed-in tariff (FIT) payments lasted for 20 years.

In 2020, the first of those feed-in tariff contracts expire. The Institute for Integrated Production Hannover (IPH), a non-profit industrial engineering company, estimates that 2.4 gigawatts of installed onshore wind capacity will lose eligibility for guaranteed payments each year. In 2020, up to 4,500 turbines could come down because they will have been rendered uneconomical without the guaranteed payments, IPH project engineer Martin Westbomke told Neumann.

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Brazilian electronics company Multilaser files for IPO: Reuters

Brazilian electronics company Multilaser Industrial SA on Thursday filed for regulatory clearance to launch an initial public offering, according to a securities filing. The company and its owners will sell an undisclosed amount of shares, joining online lender Agibank and Bunge’s Brazilian sugar unit efforts to price their offerings by July. The investment banking units of Itaú Unibanco Holding SA, JPMorgan Chase & Co., Banco BTG Pactual SA, Citi, Credit Suisse Group AG and Banco Safra SA will manage the offering.

ATON raises Murray & Roberts bid to $426 million, ups stake to 44 percent: Reuters

German investment house ATON raised its takeover offer for Murray & Roberts (MURJ.J) by around 13 percent to $426 million on Friday, attempting to secure investor backing after the South African builder struck a deal of its own last week. The offer underlines ATON’s determination to expand in Africa’s most industrialized economy, whose prospects have improved since Cyril Ramaphosa took over as president promising to root out corruption and push through business-friendly policies. The decision comes after ATON – led by German investor Lutz Helmig – raised its stake in Murray & Roberts to 44 percent at 17 rand per share, triggering a rule under South African capital market regulations to offer all shareholders the same amount. The revised offer values Murray & Roberts at 7.6 billion rand ($610.31 million), based on a total issued shares of 445 million. That would value the roughly 70 percent of
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Partners Group consortium to buy Techem in $5.4 billion deal: Reuters

A consortium led by Swiss asset manager Partners Group Holding (PGHN.S) will buy Techem from Macquarie (MQG.AX) in a deal that values the German metering company at an enterprise value of 4.6 billion euros ($5.4 billion), Partners Group said on Friday. The buyers include Caisse de dépôt et placement du Québec (CDPQ) and Ontario Teachers’ Pension Plan as well as Techem’s management team, it said in a statement. They plan to work with Techem’s management to further develop the company, which supplies energy invoicing and energy management in buildings, in existing markets and expand into new geographic markets. “One value creation initiative will focus on the introduction of new technologies to Techem’s strong existing platform and installed base to enhance the customer experience,” Partners Group said. The transaction values Techem at roughly 13 times expected 2018 core earnings, more than the valuation of 11 to 12
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VC-backed Prevail Therapeutics beefs up board with new addition

New York City-based Prevail Therapeutics Inc, a developer of gene therapies for patients with Parkinson’s disease and other neurodegenerative diseases, has named Dr. Francois Nader to its board of directors. Nader was the president, CEO and executive director of NPS Pharma. The investors included OrbiMed, Pontifax Fund, RA Capital Management, EcoR1 Capital, Omega Funds, BVF Partners LP, Boxer Capital LLC, Adage Capital Management LP and Alexandria Venture Investments. PRESS RELEASE NEW YORK–(BUSINESS WIRE)–Prevail Therapeutics, Inc. (Prevail), a biotechnology company developing gene therapies for patients with Parkinson’s disease and other neurodegenerative diseases, today announced the appointment of Francois Nader, M.D., to its Board of Directors. Dr. Nader was President, Chief Executive Officer and Executive Director of NPS Pharma from 2008 until 2015, when the company was acquired by Shire for $5.2 billion. During his tenure as CEO, Dr. Nader transformed NPS Pharma into a leading global biotechnology
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PE-backed Tierra Nueva adds two to board

Miami-based Tierra Nueva Fine Cocoa LLC, a chocolate and coffee technology company, has named Dr. Deryck van Rensburg and Neil Dorfman to its board of directors. Van Rensburg is the Dean of Pepperdine University’s Graziadio Business School and Dorman is a 24-year veteran of Nestle. Tierra Nueva is backed by ProspEquity Partners. PRESS RELEASE MIAMI–(BUSINESS WIRE)–Dr. Deryck van Rensburg, Dean of Pepperdine University’s Graziadio Business School, and Neil Dorfman, a 24-year veteran of Nestle, have been appointed to the board of directors for Miami-based Tierra Nueva Fine Cocoa, LLC, a coffee technology and manufacturing company. Van Rensburg has 32 years of global business experience with The Coca-Cola Company and Unilever PLC, founded the Venture and Emerging Brands Division at Coca-Cola and recently served as president of global ventures at Coca-Cola. Dorfman held operational and manufacturing leadership positions with Nestle Professional North America, Nestle USA Retail Beverage and Nestle Canada,
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Weekly Market Review & Outlook – As Divided as Ever

SPX New Highs Continue to Drag Triangle Breakout Holds Bulls and Bears Fight to Go Nowhere Watching the Swing within the Wedge IJR Holds above Breakout Zone QQQ and XLK Form Tight Consolidations XLF Stalls Near April High XLI Stays Strong as XLV Hits Make-or-Break Level Semis are Leading and Biotechs Stall after Surge Notes from the Art's Charts ChartList Notes from the Art's Charts ChartList...

Sonnen Raises $71M and Kicks Off a Strategic Partnership With Shell

Sonnen, the German startup taking on Tesla and others in the nascent behind-the-meter energy storage market, has <a href="" >raised &euro;60 million</a> ($71 million) to grow in the U.S. and Australian markets. The company also inked a strategic cooperation agreement with its newest investor, Dutch energy giant Shell.&nbsp;

Shell Ventures led Tuesday&rsquo;s investment, which brings sonnen&rsquo;s total funding to date to roughly $180 million. That includes <a href="">$85 million in 2016</a> from investors including GE Ventures, Germany&rsquo;s eCapital and MVP, Dutch firm SET Ventures, and Czech company Inven Capital, as well as $3 million in 2013, <a href="">$9.4 million in 2014</a>, and $12 million in 2015.&nbsp;

The rising amounts of investment line up with sonnen&rsquo;s growth expectations, CEO Christoph Ostermann said in Tuesday&rsquo;s statement. The funding will go towards accelerating growth in the United States and Australia, its two primary markets, as well as &ldquo;establishing new technologies such as <div class="post-limited-image"><img src="" border="0"></div>
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Podcast links: the tyranny of talking points