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The Exit Report: LoopPay, UTAC Holdings, Gymsurfing

February 20, 2015

IPO

Singapore chipmaker UTAC Holdings is preparing for an IPO in the United States, according to The Wall Street Journal, in which it hopes to raise around $400 million. The company is jointly owned by the private equity firms TPG and Affinity Equity Partners after it was taken private in a 2007 leveraged buyout.

In anticipation of an IPO some time this year, Instructure, the company behind the educational software platform Canvas, has raised $40 million in a Series E from EPIC Ventures, OpenView Venture Partners, and Insight Venture Partners. The Salt Lake City, UT-based company is quickly taking market share from Blackboard, which pioneered online education “bulletin boards” for K-12 and higher education institutions in 1997.

M&A

Samsung has acquired LoopPay, a mobile wallet that counts Visa as an investor and reportedly works at 90% of retail locations today. The move thrusts Samsung into the same space as Apple Pay, PayPal, and CurrentC, the last one a collaboration between CVS, Target, and Walmart. Terms of the deal have yet to be disclosed.

Priceline has made an acquisition of its own a week after Expedia announced that it would be acquiring Orbitz. But at $20 million, for Chicago-based hotel booking service Rocketmiles, the deal is considerably smaller.

Indian IT service provider Infosys will acquire Panaya, a software company for Enterprise Resource Planning (ERP) originally founded in Israel, at a reported $200 million price tag. The deal will close some time in March. Panay had raised $59 million from Benchmark, Battery Ventures, and Israel Growth Partners, among others.

Fitmob, a $99 per month subscription service that provides access to all participating gyms in its network, has expanded its platform by acquiring Gymsurfing, a purveyor of day passes to gyms. Fitmob currently operates in seven markets. With the Gymsurfing deal, Fitmob will add Dallas and San Diego to this list.

One of India’s $1 billion unicorns, the e-commerce marketplace Snapdeal, has acquired Exclusively.in, a shopping platform focused on luxury goods for Indian consumers. Terms of the deal are currently undisclosed, but Exclusively.in had raised $18.8 million in venture financing from Tiger Global, Accel, and Helion Venture Partners. It comes the same week that Google Capital announced it was seeking a partner to lead investments in the country.

 

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Filed Under: Exit Report, Finance, Startups

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