Andreessen Horowitz backs 3D CAD system Onshape

Andreessen Horowitz has led an $80 million funding round for Onshape, the latter announced in a blog post on its site. The other investors were New Enterprise Associates, Commonwealth Capital Ventures and North Bridge Venture Partners. Based in Cambridge, Massachusetts, Onshape is a full-cloud 3D CAD system.

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Andreessen Horowitz backs 3D CAD system Onshape

Sverica Capital sells MC Sign Company

Sverica Capital Management LLC said Wednesday it sold MC Sign Company to Caltius Capital Management. Financial terms weren’t announced. Mentor, Ohio-based MC provides signage and lighting services to a variety of multi-site industries, including quick serve restaurant, retail, convenience stores, and hospitality. TM Capital advised MC Sign Company and Sverica. PRESS RELEASE NEW YORK–(BUSINESS WIRE)–Sverica Capital Management LLC (“Sverica”), a private equity investment firm, announced today it closed on the sale of MC Sign Company (“MC Sign”) to Caltius Capital Management (“Caltius”). Based in Mentor, OH, MC Sign provides mission critical signage and lighting services to a variety of multi-site industries, including quick serve restaurant, retail, convenience stores, and hospitality. Sverica acquired a majority interest in MC Sign in 2008. Over the course of its investment, Sverica guided the company through robust top line growth, identified & entered high growth adjacent service lines, and completed one add-on acquisition. “We are proud to have been partners with MC Sign and its talented management team,” said Dave Finley, Managing Director at Sverica. MC Sign has grown from a company focused on sign installation and maintenance, to a diversified facilities maintenance organization serving a number of trades including lighting and electrical. Both Sverica and management felt it was an opportune time to explore another financial partner.” “Sverica has been a tremendous partner, said Timothy Eippert, MC Sign’s Chief Executive Officer. Their strategic guidance has been invaluable to our success. The company would not have achieved what it has without Sverica.” “Sverica’s growth-oriented investment model and analytical support has helped MC Sign increase revenue by nearly 65% during their ownership.” TM Capital served as advisor to MC Sign Company and Sverica. About MC Sign Company MC Sign is a leading national sign and lighting company, meeting customers’ needs from new sign design and manufacturing, installation, on-demand service as well as lighting upgrades and retrofits. MC Sign is proactive in its strategic plans by investing time and resources into developing products and services that bring value to its current and potential customers. The company’s experienced project managers and customer services representatives provide cost-effective sign and lighting products and services for some of the largest retail, restaurant, hospitality, and financial companies in the United States and Canada. For more information, visit www.mcsign.com. About Sverica Capital Management Sverica is a leading private equity firm that has raised over $500 million of investment capital across multiple funds. The firm seeks to invest in companies that are or could become leaders in their industries, and works closely with the management of such companies to facilitate their growth. Since 2001, Sverica has maintained a “high touch” operating philosophy of taking an active role in portfolio companies. Sverica devotes significant internal resources to help its management teams develop and execute growth strategies. For more information, visit www.sverica.com. Contacts

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Sverica Capital sells MC Sign Company

WalmartLabs buys VC-backed PunchTab

WalmartLabs has acquired PunchTab, the latter announced in a blog post on its site. No financial terms were disclosed. Based in Palo Alto, California, PunchTab is an omni-channel engagement and insights platform. Its backers included Mohr Davidow Ventures, The Social+Capital Partnership and Crunch Fund.

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WalmartLabs buys VC-backed PunchTab

Citrix in last-ditch attempt to sell itself: Reuters

(Reuters) — Citrix Systems Inc (CTXS.O), the U.S. cloud computing company targeted by activist hedge fund Elliott Management, is making a final attempt to sell itself as a whole before it embarks on asset sales, according to people familiar with the matter. Citrix, which had attracted the interest of private equity investors before it agreed in July to give Elliott a seat on its board of directors, is having new conversations with buyout firms, the people said this week. The company, which has a market capitalization of $11.6 billion, has also reached out to other technology firms to solicit interest, including Dell Inc[DI.UL], the computer maker that was taken private two years ago by its founder Michael Dell and private equity firm Silver Lake Partners LP, the people added. Citrix announced in July it would explore strategic alternatives for its GoTo family of products, including videoconferencing and desktop sharing service GoToMeeting. However, a sale process for these assets has not started yet because Citrix wants to see if it can still sell itself at a satisfactory valuation, according to the sources. If Citrix does not sell itself in its entirety, it will not just seek to sell or spin off its GoTo products, but it will also explore options for other assets down the line, according to the sources. The sources asked not to be identified because the deliberations are confidential. Citrix, Dell and Silver Lake declined to comment. Based in Santa Clara, California, Citrix provides communications software and networking solutions for businesses. It reported net income of $251.7 million in 2014, down from $339.5 million in 2013. Earlier this year, Elliott called on Citrix to sell some units, cut costs and buy back shares to make up for six years of underperformance. In addition to the GoTo business, Elliott has called for Citrix to explore the sale of NetScaler, which helps speed up Web-based applications. Elliott clinched a deal with Citrix in July that gave Jesse Cohn, one of its senior partners, a seat on the company’s board. Citrix also said it would start a search for an independent board member, mutually agreeable to Citrix and Elliott. It also said at the time that Chief Executive Mark Templeton was retiring and that it would search for a new CEO. Earlier this month, Citrix said it would repurchase up to an additional $500 million of its common stock.

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Citrix in last-ditch attempt to sell itself: Reuters