Axel Springer buys 88 percent of Business Insider: Reuters

(Reuters) — German publisher Axel Springer said on Tuesday it would buy 88 percent of news website Business Insider valued at $343 million. Springer, which earlier this year missed out on buying the Financial Times newspaper from Pearson, said it already owns about 9 percent of the website, which has 76 million monthly visitors. Amazon Inc-founder and chief executive Jeff Bezos will hold the rest of the shares via his personal investment company Bezos Expeditions, Springer said in a statement.

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Axel Springer buys 88 percent of Business Insider: Reuters

Cyber security firm Zscaler closes $110 million round: Reuters

The latest recipient in a spate of cyber security investments is Zscaler, a cloud security company that raised $25 million from Google Capital, the search giant’s equity investment arm for late-stage financing. The investment is an add-on to an oversubscribed $85 million round Zscaler raised in August. Founder and CEO Jay Chaudhry told Reuters in an exclusive interview he chose to wait for a strategic partner like Google to close out the round. San Jose, California-based Zscaler provides security for cloud applications for more than 5,000 businesses and organizations, and many of those use Google Inc’s cloud applications and services. “There is a natural intersection between Google customers and our customers,” he said. The latest round brings Zscaler’s total funding to $148 million, quadrupling the company’s financing in just the last two months. It is also the last private financing event before the company makes an initial-public offering, Chaudhry said. He declined to say when he was planning an IPO, but said he hired a new chief financial officer in March “to make sure everything is ready from a finance point of view and regulatory point of view.” Chaudhry said the company’s valuation is north of $1 billion, but he declined to provide a more precise figure. Global cyber security investments so far this year exceed $2.3 billion, according to data from CB Insights and Bain Capital Ventures and analyzed by Reuters. That’s up from $2.5 billion last year and $1.7 billion in 2013.

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Cyber security firm Zscaler closes $110 million round: Reuters

Hannover Finanz eyes options for Schlemmer, including sale, say sources: Reuters

(Reuters) German private equity firm Hannover Finanz is exploring options for its cable equipment maker Schlemmer including a potential sale which may value the company at more than 500 million euros ($556 million), two people familiar with the matter said. The Germany-focused buyout group has mandated investment bank Baird to prepare a potential auction of the supplier of cable protection systems for automotive and industrial applications. Hannover Finanz and Schlemmer declined to comment. The potential sale is the latest in a string of deals in the German automotive supplier sector, which has seen Mann + Hummel buying U.S. peer Affinia, Canada’s Magna acquiring Getrag and Mahle taking control of U.S.-based Delphi’s air-conditioning unit. Schlemmer posted earnings before interest and taxes (EBIT) of 27 million euros on sales of 270 million euros in 2014. The group, which has 2,300 employees and is targeting 400 million euros in sales by 2020, is expected to post earnings before interest, taxes, depreciation and amortisation (EBITDA) of about 40 million euros this year, the sources said. Potential strategic or private equity buyers may value Schlemmer at more than 500 million euros if they value the company at a similar earnings multiple as that seen in the recent sale of a peer. In July, U.S. car parts maker Delphi bought British cable equipment maker HellermannTyton for 1.1 billion pounds ($1.7 billion), or 14.7 times its core earnings. Since a 2012 buyout, Hannover Finanz owns 66 percent of Schlemmer, while the founding family Mackprang holds the remaining stake. It has expanded Schlemmer’s product portfolio with a bolt-on acquisition in 2013.

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Hannover Finanz eyes options for Schlemmer, including sale, say sources: Reuters