Advent’s smartcard firm Oberthur set for Paris share listing, say sources: Reuters

(Reuters) Advent International is looking to press ahead with an initial public share offering (IPO) for its French smartcard maker Oberthur Technologies, having rebuffed a joint bid made by two other private equity firms, Carlyle and Eurazeo, sources familiar with the matter said. Oberthur Technologies, which ranks as the world’s second largest manufacturer of smartcards behind Gemalto, is slated to go public in Paris by the end of the year, the sources said. The application for a listing on Euronext is expected to be made in the next two weeks, another source said. A consortium of Carlyle and Eurazeo was vying with an alliance of PAI and Silver Lake to buy Oberthur. But PAI and Silver Lake walked away without making an offer, while Carlyle and Eurazeo’s bid failed to meet Advent’s expectations of 1.7 billion euros, two of the sources said. Spokesmen at Advent, Oberthur and Eurazeo declined to comment. Carlyle and PAI were not immediately available for comment. Advent, which is being advised by Rothschild, expects to get a better price with a stock market listing and has appointed banks to work on the share offering, they said. JPMorgan, Morgan Stanley and Deutsche Bank have been brought in as global coordinators while Societe Generale, Natixis, HSBC and BNP Paribas are acting as bookrunners on the deal, two of the sources said. Advent, which is also in the process of listing its British payments processing firm Worldpay in London, started reviewing strategic options for Oberthur earlier this year. Headquartered in Hauts-de-Seine, on the outskirts of Paris, Oberthur reported earnings before interest, taxes, depreciation, and amortisation (EBITDA) of 147 million euros in 2014, up from 132 million euros the previous year. It expects EBITDA to increase to around 175 million euros in 2015, a banker familiar with the company said. Oberthur’s main rival Gemalto’s shares trade at a multiple of enterprise value to forecast EBITDA of 8.8, while Ingenico Group and Wirecard AG trade on multiples of 12.3 and 16.1 respectively, according to Thomson Reuters data. Gemalto’s shares sank in September after the French firm announced the closure of its U.S. mobile payments service Softcard. Oberthur develops security software embedded in cards and other devices for making payments and giving access to transport networks or buildings. Advent bought 90 percent of Oberthur in 2011 for 1.15 billion euros while the company’s founder Jean-Pierre Savare and his family retained a 10 percent stake.

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Advent’s smartcard firm Oberthur set for Paris share listing, say sources: Reuters

Angel Capital Group unveils micro venture fund

Angel Capital Group has launched a Phoenix, Arizona-based micro venture fund. The pool will focus on investing between $1 million and $5 million in local, regional and national science and tech startups. Black Dog Promotions CEO Scott Kelly will serve as the fund’s general manager. PRESS RELEASE PHOENIX, AZ (PRWEB) SEPTEMBER 22, 2015 ACG’s Phoenix fund will target between $1 million and $5 million in capital to be invested in local, regional, and national science and technology enable startups. Scott Kelly CEO of Black Dog Promotions will become the General Manager of the fund. Angel Capital Group was founded in 2007 and merged with RAIN Source Capital of Minneapolis, MN in 2014 to create a national syndicate of angel groups and funds. Between the two networks, 131 companies have received funding. Eric Dobson, CEO of Angel Capital Group, elaborated on the importance of ACG’s Kansas City operations saying, “Phoenix represents a great opportunity to both serve an exciting and growing entrepreneurial community and create a resilient focal point for angel investors. We look forward to many years of supporting economic impact and wealth creation for the city and region.” The fund’s general manager, Scott Kelly, said, “Phoenix has a thriving entrepreneur community with many exciting startups that need and deserve growth capital. Eric and his team at Angel Capital Group provide access to that capital.” Dobson added, “We have found a great partner in Scott. He is a savvy businessman and investor and his heart is in the right place. He loves startups and the Phoenix entrepreneurial community. We expect great things to erupt from the fund.” About Angel Capital Group ACG’s Phoenix fund will target between $1 million and $5 million in capital to be invested in local, regional, and national science and technology enable startups. Scott Kelly CEO of Black Dog Promotions will become the General Manager of the fund. Angel Capital Group is a fully syndicated “angel” capital private equity network with operations in nine states. ACG recently consolidated its operations with RAIN Source Capital. The combined entity enjoys a 10 year history and has invested approximately $44M in 131 companies across a variety of market sectors. The combined portfolios have created over 4500 jobs and $750M in follow-on capital investments by other funds. For additional information about Angel Capital Group and its investment criteria, visit online at http://www.theangelcapitalgroup.com, @angelcapitalgr, http://www.linkedin.com/company/831505, or http://www.facebook.com/angelcapitalgroup. About Black Dog Promotions Black Dog Promotions is a media, corporate finance and business development agency providing, venture capital, digital marketing and publicity consulting for regional and national brands. Black Dog’s team has a long history of success in the entertainment, sports, and technology and finance industries. They have taken companies from concept to millions of dollars in sales and billions of dollars in market capitalization. Find out more at http://www.BlackDogPromotions.com – The Intersection of PR, Digital Marketing and Sales.

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Angel Capital Group unveils micro venture fund

Highland Capital invests $7 mln in Datiphy

Datiphy Inc. said Tuesday it raised $7 million from Highland Capital Partners in its first institutional financing. San Jose, California-based Datiphy is a data behavior analysis and security startup. PRESS RELEASE SAN JOSE, CA (PRWEB) SEPTEMBER 22, 2015 Datiphy™ Inc., a pioneering startup in data behavior analysis and security, today announced that it has raised $7 million from Highland Capital Partners in its first institutional financing. Datiphy offers the only highly scalable breach detection and database activity auditing platform providing the context needed for information security and network security teams. Datiphy will use the funding for continued rapid growth. “The interest in security has never been greater and concerns are only growing as enterprises are undergoing changes to their own business infrastructure. Datiphy has developed a unique approach and technology to resolve the security and compliance concerns of these companies,” said Corey Mulloy, General Partner at Highland Capital Partners. “We look forward to working with CEO Ted Ho again after the successful IPO of our previous collaboration. Similarly, we’re thrilled to be in partnership with the rest of the management team who have proven to be quite accomplished at developing innovative security technologies and scaling their respective organizations.” As enterprises adopt public, private and hybrid cloud offerings and enable user and device mobility, network perimeters have completely disappeared. These trends are creating situations where data, workloads, users and devices have physical locations that change from moment to moment. So, rather than taking a network-centric approach to security with the idea of a perimeter and endpoints, a data-centric approach is required to visualize and protect valuable data assets no matter where they live or how they have been accessed. “By analyzing the behavior of the data, we can derive things like user behavior, distinguish between what’s normal and anomalous, and dramatically reduce the time to detect breaches,” said Ted Ho, CEO of Datiphy. “Previous security approaches have been based on the concept of a network perimeter and analyzing network activity for threats. As enterprises adopt new technologies for business agility and flexibility, this security model completely breaks down. Our method looks to the data itself as the target of interest for hackers and nefarious actors and, therefore, the ideal security focal point. Legacy approaches and ‘band-aid solutions’ can’t address these security challenges because they have the wrong fundamental approach and simply can’t scale.” Datiphy uses a proprietary, high performance and scalable architecture to audit every data transaction within an enterprise environment. With this data-centric approach, context can be provided for all data activity for analysis and visualization of asset relationships and behaviors. In addition, by looking at every transaction rather than a sample of transactions, the accuracy of analysis is orders of magnitude greater. Security teams manage the Datiphy platform through an advanced management portal with natural language querying to quickly and easily verify threats and discover the extent of a breach for greatly accelerated resolution. Analytics from the Datiphy platform can be exported as feeds to other security and event correlation tools, governance and compliance solutions and Security Information and Event Management (SIEM) offerings. About Highland Capital Partners Founded in 1988, Highland Capital Partners is a global venture capital firm focused on putting the entrepreneur first. With offices in Silicon Valley, Boston and Shanghai, Highland has raised over $3 billion in committed capital and invested in more than 265 companies, resulting in category-defining businesses across consumer and enterprise technology. Investments include Ask Jeeves, Bromium, Enjoy, Gigamon, Harry’s, Lycos, Malwarebytes, Qihoo 360, Quattro Wireless, Rent the Runway, Starent Networks, Sybase, VistaPrint and WePay. Highland also serves as a mentor for future entrepreneurs through Summer@Highland, a program that provides students and university-affiliated startups with the environment and resources to take their initiative to the next level. For more information, visit http://www.hcp.com. About Datiphy Founded in 2015 in San Jose, CA, the Datiphy platform fills the gaps that exist between point solution tools and glues various capabilities together to visualize your entire enterprise data lifecycle. The key technology is its Adaptive Data Behavioral Model (also called DataDNA) providing the scientific certainty of analyzing the entire data pool as events occur in real-time. A command portal enables centralized management and natural language queries empowering users to find any data asset within seconds and see the context of every interaction that has occurred among all other assets. For more information, visit http://www.datiphy.com. Datiphy, Adaptive Data Behavioral Model and DataDNA are trademarks of Datiphy, Inc. All other brands, products, or service names are or may be trademarks or service marks of their respective owners.

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Highland Capital invests $7 mln in Datiphy