Links 9/18/2014: Ellison to step down as CEO, but he'll still be there; SAP to buy Concur for $8.3 billion

Larry Ellison Will Step Down as CEO of Oracle (Re/code)
But he's still very much there.

SAP to Acquire Concur, Expanding the World’s Largest Business Network (SAP Press Release)

Netsuite Slams Rival SAP in Newspaper Ad (Re/code)

”Great ERP, worse PLM” – What SAP PLM needs to sharpen its competitive edge (Engineering)

Qlik courts the business manager with easier analytics (PC World)

Walter Isaacson on the women of ENIAC (Fortune)

Comcast CEO "Cautiously Optimistic" on Approval for Time Warner Cable Acquisition
(Hollywood Reporter)

Rally at Comcast building opposes cable merger (Philadelphia Inquirer)

Actua (formerly ICG Group) to buy Edison Partners-backed FolioDynamix for $199 million

Tom Paine

 Subscribe in a reader
Subscribe to Philadelphia Tech News by Email

Radnor-based Actua (Nasdaq: ACTA), which earlier this month announced it was changing its name from ICG Group (I missed the memo), yesterday said it had agreed to acquire 97% of FolioDynamix, a New York cloud-based investment and wealth management platform, for about $199 million.

FolioDynamix "offers wealth service providers and investment advisors a comprehensive, secure, cloud-based wealth management technology platform and advisory solutions for managing the full wealth management lifecycle across all account types, including unified managed account (UMA) and unified managed household (UMH) programs. The company delivers comprehensive solutions to financial advisors, professionals and institutions", Actua said in a release.

Actua says FolioDynamix has a revenue run rate of over $30 million a year with positive cash flow and earnings, and is growing over 40% a year.

Lawrenceville, NJ-based Edison Partners was a major investor in FolioDynamix, investing
$7.5 million in 2008 and participated in a $16 million round in 2011. PE Hub reported in May that FolioDynamix was looking for a buyer.

The rebranded Actua is focused on a vertical cloud strategy. Originally an offspring of
Safeguard Scientifics named Internet Capital Group, it has operated in a somewhat similar manner as a publicly traded venture capital portfolio although it may be becoming more of an operating company.

Philly Tech People News 9/13/2014

Subscribe to Philly Tech People News by Email

Comcast Hires TWC Exec to Oversee Transaction Compliance (Multichannel News)

Relay Bolsters Management Team With Addition of Graham Barry as CTO (Globe Newswire)

Quintiq appoints new Vice President of Supply Chain Solutions (Supply Chain Digital)

Select Greater Philadelphia names new leader
(Philadelphia Business Journal)

Apple CEO Tim Cook says television is “stuck in the ’70s” (Quartz)

Lawyer: Tourism agency acted properly in fund flap
(Philadelphia Inquirer)
Neat. Agency sets its own rules, laws.

Links 9/12/2014: Report: Weather Channel PE owners considering sale

Voice Marketing Company Ifbyphone Raises $30M More, Acquires Competitor Mongoose Metrics (TechCrunch)
NewSpring Capital joins existing investors.

Weather Channel Talks to Banks on Options Including Sale (Bloomberg)
Interestingly, the article says nothing about what Comcast's (owns about 1/3 through NBCU) interests might be. Comcast's recent attitude towards joint ventures it is part of has either been to sell or buy the whole thing.

AT&T Eyes Late 2015 to Launch DirecTV, High-Speed Wireless Broadband Bundle (Variety)

Salesforce appears to be prepping a cloud-based analytics service (VentureBeat)

Why are private clouds failing? (Thomas Bittman/Gartner Blogs)`

Links 9/10/2014: Apple may buy Path; Apple may use OLED in watch, but no one's sure it will be Universal Display's

Apple Announces Mobile Payment Solution Called Apple Pay (TechCrunch)

Rumor: Apple in late-stage talks to buy Path social platform (Apple Insider)
Path, a First Round Capital portfolio company, achieved a valuation of about $400 million
in its last round, although its performance has generally been considered underwhelming.

Universal Display Rising: Apple May Use OLED Tech in Watch, Says Goldman (Barron's Tech Trader Daily)
Universal Display is based in Ewing, NJ.

Discovery CEO tells FCC he’s concerned about Comcast merger with Time Warner Cable (Washington Post)

Comcast: We Strongly Support Open Internet (Multichannel News)

Web-and-app-design firm branching into Center City studio (

Neighborhood data center seeks to draw small companies to the cloud ( Philly Deals)


Report: Several cable execs will be at Apple event

Tom Paine

 Subscribe in a reader
Subscribe to Philadelphia Tech News by Email

Dave Zatz, tech blogger (Zatz Not Funny!) and video tech expert, posted this tweet early this morning:

No further explanation at this time, but you might check his blog for more info.