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The Exit Report: OnDeck Capital, True(x) Media, Secusmart

December 19, 2014

IPO

Shortly after Lending Club completed the biggest public offering by an American technology company of the year, OnDeck Capital, an online lender specializing in loans to small businesses, raised $200 million of its own in its IPO this week. OnDeck appeared to benefit from Lending Club’s strong public debut. Shares were originally sold at $20, above the expected $16 to $18 range, and surged nearly 35% on Wednesday, the stock’s first day of trading. Where Lending Club facilitates loans between borrowers and external investors, OnDeck provides the capital for the loans (although it has taken criticism for its extensive use of traditional brokers) and then securitizes the loans it makes. The seven year old New York-based company raised $77 million in March from Google Ventures, Tiger Global Management and Peter Thiel, among others, to bring the company’s total venture financing to over $400 million.

M&A

21st Century Fox will pay $200 million to acquire True(x) Media, an online advertising platform whose main product gives users the option to watch an interactive ad at the beginning of content streaming instead of throughout the program. True(x) will continue to operate as an independent entity after the deal is finalized.

Oculus, the virtual reality headset company Facebook acquired for $2 billion this summer, has completed two acquisitions of its own. Oculus paid an undisclosed amount for both Nimble VR, which was building gesture recognition technology for Oculus, and 13th Lab, whose 3D construction technology could “enable all sorts of new applications and experiences, like visiting a one-to-one 3D model of the pyramids in Egypt or the Colosseum in Rome.”

Xerox is selling its IT outsourcing business to Atos, the French IT services company. The deal is reportedly north of $1 billion, and is the latest sign that CEO Ursula Burns is moving the company away from its old lines of business.

Brandwatch, a U.K.-based social media analytics company, has acquired one of its competitors, PeerIndex, for an undisclosed amount. PeerIndex had raised nearly $4 million from a combination of crowdfunding, angel investors, and Meridian Venture Partners.

Apax Partners will sell its stake in the Swiss mobile phone operator Orange Communications to NJJ Capital in a deal reportedly worth $2.9 billion. NJJ Capital is the investment fund of Xavier Niel, the founder of Illiad and co-owner of Le Monde. Orange Communications has 2.1 million customers in Switzerland, where it trails market leader Swisscom.

Alongside the reporting of an adjusted profit for its quarter ending in late November, Blackberry also announced that its deal to acquire Secusmart, a German mobile security company, has been finalized.

 

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Filed Under: Exit Report, Finance, Startups

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