Honeywell, a 111-year-old company, to launch home security system on Indiegogo (The Verge)

HSN's top three execs leaving as QVC takes over (Tampa Bay Times)


PayPal rolls out Venmo payments to its U.S. retailers (Reuters)

Behind the digital curve, Philadelphia Media Network tries to straighten out its brand (Columbia Journalism Review)

IBM: We're now a, what's not losing money? Ah, a cognitive cloud champ!
(The Register)




Food services firm Aramark to buy Avendra, AmeriPride in $2.35 billion deal (Reuters)

Christie to throw support behind Newark's Amazon bid, sources say (NJ.com)



Manufacturing fuels robotics in central Pennsylvania (Axios)
Steve Case's #riseoftherest tour.

Mixing business and pleasure: newspaper asset sales mingled with home buying spree (Digital First Media Workers)

Amazon: Not This Time!
Fanatics Inc. is probably protected since most of its gear is under license.

Netflix adds 5.3 million subscribers during Q3, beating analyst estimates (CNBC)





IBM's Long String Of Quarterly Revenue Declines Expected To Continue
(IBD)


Philly Tech People News 10/15/2017: Danny Sullivan goes over to other side; SAP COO Christian Klein to join exec board





Subscribe to Philly Tech People News by Email



Verizon's media head Marni Walden to leave (Reuters)

Blue Bell-based Anexinet, which has been both expanding its geographic footprint and increasing its analytical capabilities, appointed company Veteran John Kolimago to head its new Cloud Solutions business unit.

Apple names former Honeywell executive as new general counsel (Reuters)

My new chapter: joining Google to better explain search & help bridge the gap (Danny Sullivan)

SAP COO Christian Klein to join exec board (Marketwatch)


Epicor Software Corporation Announces CEO Succession


SEI Names David Hintz US Equity Portfolio Manager


Fintech Firm eOriginal Appoints Michael Coluzzi As New CFO (Crowdfund Insider)

Peter Strid, formerly of PeopleLinx, has joined LiquidHub as Director Business Development.

David Anderson Appointed Chief Executive Officer of InsPro Technologies


Norm Mullock Joins Wilson Legal Solutions As Vice President of Strategy


Weekend Highlights: Final push to Amazon Deadline; Google says will Invest in Business, Workforce Development in Pennsylvania, elsewhere




 Subscribe in a reader
Subscribe to Philadelphia Tech News by Email





Cities throw themselves at Amazon as deadline looms (The Hill)

KOZs proposed, renewed to lure Amazon to University City (PlanPhilly)

Texans' Love Of Business And Philly's Great Location Could Win Amazon's HQ2 (Bisnow)

‘Dear Jeff’: Boston Globe shows how Amazon HQ2 can ‘help make our city better’ (GeekWire)

Google to Invest in Business, Workforce Development in Pennsylvania (USA Herald)
But not only Pennsylvania, or Pittsburgh.
Google CEO Sundar Pichai, a Wharton grad, chose to announce this in Pittsburgh.

New Jersey to join Nevada, Delaware in online poker pact (LA Times)


Salesforce takes another shot at IoT
(TechCrunch)




Hive-IO, run by former Devon IT CEO Joe Makoid, gets Series B funding from Citrix, Osage

Tom Paine




 Subscribe in a reader
Subscribe to Philadelphia Tech News by Email






Hive-IO, a startup focused on software-defined infrastructure, announced Tuesday it had completed its Series B Round of financing led by Rally Ventures with Citrix Systems, Inc., Osage Venture Partners (OVP), and El Dorado Ventures participating.

Hive-IO, based in New York, definitely has a Philly-like feel to it. Joe Makoid, former CEO of King of Prussia-based Devon IT, is Hive-IO's CEO as well as a founder. And with Osage's participation, Nate Lentz, Managing Partner at OVP joined the Hive-IO Board of Directors.

In July, Hive-IO announced it has acquired "certain assets" of Atlantis Computing, another player in software-defined infrastructure.


10/14: Comcast NBC's Fandango is acquiring rival online ticketer MovieTickets.com; SoFi Withdraws U.S. Banking Application, Citing Leadership Change




 Subscribe in a reader
Subscribe to Philadelphia Tech News by Email




Microsoft and Amazon struck a brilliant partnership to take on Google in the next big thing for cloud computing (Business Insider)

Cable operators need to raise standalone broadband to $80 to offset cord cutting, analyst says (FierceCable)
But is that truly the best approach, or should Cable emphasize bundles that minimize any cost savings from cord cutting?


Comcast NBC's Fandango is acquiring rival online ticketer MovieTickets.com
(TechCrunch)

SoFi Withdraws U.S. Banking Application, Citing Leadership Change (Fortune)


Fifty years old and still humming: Like the mainframe, Syncsort won’t quit
(Silicon Angle)

While Amazon and Microsoft battle in the cloud wars, this startup quietly built a $175 million business by picking up their slack (Business Insider)
But how's Linode doing?




10/12: Amazon's other tech hubs; Walmart recruiting at Penn




 Subscribe in a reader
Subscribe to Philadelphia Tech News by Email



Amazon's portfolio of tech hubs hints at top U.S. contenders for HQ2 (Philadelphia Business Journal)

Wal-Mart Wants to Break Into the Ivy League Recruiting Circuit (Bloomberg)
Recruiting at Penn.

Pharma companies are starting to recruit top talent from tech giants like Google and LinkedIn
(CNBC)

Many patent-holders stop looking to East Texas following Supreme Court ruling (Ars Technica)

NetSuite: One Year After the Oracle Acquisition (LAURIE MCCABE'S BLOG)


10/11: Trump v NBC; Farrow v NBC

Can Trump Really Shut Down NBC? (Bloomberg)





How Did NBC Miss Out on a Harvey Weinstein Exposé? (NY Times)



Comcast Pressures Local Cable Firms to Curb Low-Cost TV Packages (Bloomberg)



Qlik Announces CEO Transition David Murphy Appointed Interim CEO

Qlik Announces CEO Transition
David Murphy Appointed Interim CEO

October 11, 2017 10:05 AM Eastern Daylight Time
RADNOR, Pa.--(BUSINESS WIRE)--Qlik®, a leader in data analytics, today announced that Lars Björk, CEO, has transitioned his responsibilities to David Murphy as interim CEO. David Murphy is the former President and COO of Blue Coat Systems and a current Qlik Board Member and Thoma Bravo Operating Partner. A search is underway to find a permanent CEO.

“Having spent my entire career at some of the premier companies within the software industry, I have long admired Qlik’s mission to deliver comprehensive business intelligence solutions across a wide spectrum of analytics use cases”
Tweet this
David has more than 30 years of success in the software technology industry. As a part of the senior leadership team at Blue Coat Systems, he helped nearly double the revenue and profitability of the business over a three-year period, and successfully repositioned the company as a leading next-generation security vendor. Prior to Blue Coat, David was instrumental in building Mercury Interactive and Tivoli Systems into market leaders. “Having spent my entire career at some of the premier companies within the software industry, I have long admired Qlik’s mission to deliver comprehensive business intelligence solutions across a wide spectrum of analytics use cases,” said Murphy. “I look forward to working with the executive team to facilitate a seamless leadership transition while overseeing the company's ongoing growth.”

On behalf of Qlik’s Board, Seth Boro, a Board Member and Thoma Bravo Managing Partner, said “We thank Lars for his leadership at the company, and wish him the best in his future endeavors. He has been instrumental in building a world-class software business and in developing one of the most unique corporate cultures in the technology space. We are committed to Qlik’s success, and look forward to continuing to deliver unparalleled solutions and support for Qlik’s customers.”

“I have had the great privilege of serving Qlik for over 17 years, and I am proud of the innovative offerings and exponential growth we’ve achieved during my time with the business,” said Björk. “Qlik is a company with a great legacy, mission and culture, and I look forward to watching Qlik continue to evolve as one of the premier software companies in the world.”

About Qlik

Qlik® is the leading data analytics platform and the pioneer of user-driven business intelligence. Its portfolio of cloud-based and on-premise solutions meets customers’ growing needs from reporting and self-service visual analysis to guided, embedded and custom analytics, regardless of where data is located. Customers using Qlik Sense®, QlikView® and Qlik® Cloud, gain meaning out of information from multiple sources, exploring the hidden relationships within data that lead to insights that ignite good ideas. Headquartered in Radnor, Pennsylvania, Qlik does business in more than 100 countries with over 45,000 customers globally.

© 2017 QlikTech International AB. All rights reserved. Qlik®, Qlik Sense®, QlikView®, QlikTech®, Qlik Cloud®, Qlik DataMarket®, Qlik Analytics Platform®, Qlik NPrinting™, Qlik Connectors™, Qlik GeoAnalytics™ and the QlikTech logos are trademarks of QlikTech International AB which have been registered in multiple countries. Other marks and logos mentioned herein are trademarks or registered trademarks of their respective owners.

Contacts
Media:
Qlik
Maria Scurry, 617-658-5317
maria.scurry@qlik.com

QLIK
Release Versions
English EON: Enhanced Online News
More NewsRSS feed for Qlik Technologies
Log InSign Up
More from Business Wire
BlogAppsUK/IrelandDeutschlandFranceHong KongItalyJapanEON: Enhanced Online NewsTradeshownews.comPYMNTS.com
Contact UsPrivacy StatementTerms of Use© 2017 Business Wire, Inc.Share to LinkedIn
Share to Facebook
Share to Twitter
Share to Reddit
Share to Email
More AddThis Share options


10/10: Walmart Says Its Online Sales Will Explode Next Year; SoftBank Leads $93 Million Investment in Pittsburgh AI Software Startup

Walmart Says Its Online Sales Will Explode Next Year Amid War With Amazon (Fortune)

Ikea on Amazon? Furniture giant to use online retailers (Seattle Times)

SoftBank Leads $93 Million Investment in Pittsburgh AI Software Startup (Bloomberg)


Altice no different from Comcast or Charter, despite promise to transform U.S. cable business, analyst contends
(FierceCable)

Apple Nears Pickup Of Steven Spielberg’s ‘Amazing Stories’ Reboot (Deadline)
NBC also has a role.




Express Scripts to Buy Medical Gatekeeper for $3.6 Billion (Bloomberg)




10/9: bpost acquires Radial, formerly eBay enterprise, for $820M: Honeywell prepares to spin off businesses - sources




 Subscribe in a reader
Subscribe to Philadelphia Tech News by Email





bpost acquires Radial, formerly eBay enterprise, for $820M
(TechCrunch)

Exclusive: Honeywell prepares to spin off businesses - sources (Reuters)


Trump vs Corker (Axios)

Switch and Roku stocks are doing much better than Blue Apron and Snap (Recode)

How Amazon is readying its blitz on the ad industry (Digiday)

VMware, SAP join forces on enterprise IoT
(ZDNet)

Why a 24-Year-Old Chipmaker
Is One of Tech’s Hot Prospects
(NY Times)


Weekend Highlights: Some fear 'Amazon tax' could hurt Pennsylvania's bid for company's second HQ; How Chattanooga used fiber to buoy the rest of its tech community




 Subscribe in a reader
Subscribe to Philadelphia Tech News by Email




New GE CEO Shakes Up Leadership Team
(Reuters via Fortune)

In Philly’s latest digital health accelerator cohort, women-led companies dominate (MedCity News)

Art Commission gives preliminary OK to 100 digital ad 'Links' connecting public to free WiFi (Phila Business Journal)



Some fear 'Amazon tax' could hurt Pennsylvania's bid for company's second HQ (TribLive)

How Chattanooga used fiber to buoy the rest of its tech community (VentureBeat)


The rising tension between IoT and ERP systems (ZDNet)

The Secret History of a Fleeting Pre-Internet Digital Media Channel (Motherboard)

S


10/6: Sprint and T-Mobile Said To Be Ironing Out Final Deal Details; Shopify defends itself after Citron criticism




 Subscribe in a reader
Subscribe to Philadelphia Tech News by Email





Disney, Altice USA Seal Carriage Deal (Multichannel News)
Final multi-year agreement includes carriage of SEC, ACC networks.

Adelphia revisited: A decade on, Wired recounts the deal that spawned today’s consolidated cable industry (FierceCable)


Sprint and T-Mobile Are Ironing Out Final Deal Details (Bloomberg)


Shopify defends itself after Citron criticism (Reuters)








Amazon beams: We're best cloud buds with General Electric (The Register)
But what about Azure?

Amazon is on the brink of deciding if it will make a big move into selling drugs online (CNBC)

New Salesforce Service Targets Retail Banks' Customer Loyalty Challenges (CRM Daily)







SAP at 40 (SAP Video)



SAP started by ex-IBMers in 1970s.

Today: SAP market value - $136.5 bn

IBM market value - $146.7 bn


10/6: Facebook to Build Huge Virginia Data Center; Will PayPal Get Paid…For Venmo?

Facebook to Build Huge Virginia Data Center (Telecom Ramblings)


Wall's fiber-optic hub connects the world, bets on giant data centers (Ashbury Park Press)

UPMC brings insurance plans to midstate, heightening competition (Central Penn Business Journal)

Statewide hackathon attracts hundreds of technologists from across Pennsylvania (Statescoop)

Will PayPal Get Paid…For Venmo? (Barron's Tech Trader Daily)



Google Fiber Drops Cable TV Package For New Cities
(Fortune)

Comcast launches Instant TV that will cost $68 to $100 a month after internet charges (Philly.com)








WorkWave to Be Acquired by IFS; Company Staying in New Jersey to Grow, CEO Says


WorkWave to Be Acquired by IFS; Company Staying in New Jersey to Grow, CEO Says





Esther Surden
Publisher & Editor, NJTechWeekly.com


Chris Sullens, CEO of Workwave | Esther Surden

WorkWave (Holmdel), a Software-as-a-Service cloud-based business that serves the field service, last mile delivery and logistics industries, has signed an agreement to be acquired by IFS , a global enterprise applications company. Details of the deal were not disclosed; however, a story in Reuters said that this was IFS’ biggest acquisition to date.

WorkWave will remain in New Jersey, and there will be no changes in its leadership team, location, or employee base, said president and CEO Chris Sullens in an interview.

“We are committed to New Jersey and are excited about growing in New Jersey,” Sullens said. “I think it is important to New Jersey that a tech company has grown significantly enough that a global industry leader like IFS decided that it was important to add it to their portfolio.” WorkWave plans to continue to grow, and hopes to double the size of its footprint over the next five years, he added.

The acquisition will help WorkWave accelerate its progress and create value through growth, versus creating value through consolidation, which is the object of some acquisitions, Sullens noted.

IFS develops and delivers enterprise software for customers around the world who manufacture and distribute goods, maintain assets, and manage service-focused operations in industries such as aviation, defense, energy, utilities, engineering, construction, oil and gas, and services, as well as the manufacture of automobiles and other products. Headquartered in Sweden, IFS has over 2,700 clients and 1 million users worldwide; and it maintains offices around the world.

“We actually will be a separate division within IFS,” Sullens said, adding that he will report to IFS’s CEO. IFS has an Americas division, but it only handles sales and marketing for the company’s own enterprise solutions so “they’ll maintain their headquarters and we’ll maintain ours.” The two divisions will work with each other when it makes sense, he said, noting that the products WorkWave sells and the market it serves are different from those of its new parent’s Americas division.

Sullens said that he sees several synergies with IFS. “We both feel strongly that the service industry is a very attractive vehicle to sell software. They have a large presence in the service industry software market, and the vast majority of our business is in the field service industry software market.” After the acquisition is finalized, WorkWave “will be the only company in the world that is able to solve the needs of service industry businesses, regardless of their location anywhere in the world and regardless of the complexity of the needs that they have.”

In addition, joining forces with IFS will help WorkWave expand its international footprint, Sullens said. “About 6 percent of our customers are outside of the U.S.; and for IFS, the vast majority of their enterprise customers are outside of the U.S. They have presence in more than 50 countries, with 93 offices around the world. As we expand, we will continue to focus on increasing our market share in the Americas, but as we have opportunities and customers outside of the U.S., we can leverage their brand, their infrastructure, their footprint and resources to be able to serve those customers much more cost-effectively than we could on our own.”

This was the right time to sell the company, he explained. “We were a private equity-backed business and we have grown very rapidly. I was looking to take the company to the next level. … A big part of our move to Bell Works was because we planned for significant growth and expansion in our business as well as our employee base.” In parallel, Sullens was taking strategic considerations into account.

“I was looking at our current partners from a banking perspective as well as a private equity perspective,” and asked if they would “continue to be there to support us as we continue to acquire companies, continue to invest in our team.” There were approaches that could have worked for a private equity-backed firm, but a strategic investor like IFS “had a set of resources that I felt would take us to the next level.

“Being part of an almost $500 million software business that has a great reputation and is a leader in the software space at the enterprise level allows us to become more aggressive in terms of how we invest the business.” Both businesses “come in with the same mentality. We are both software companies and we know what it takes to build product, to implement products with customers and serve our customers afterwards. There is much more alignment with someone such as IFS in terms of understanding what we need as a business to grow and them being excited about providing the funding to allow us to do that.”

IFS, he said, was excited that WorkWave is going to focus on executing the five-year plan it already has in place. With the acquisition, WorkWave can look for opportunities to accelerate that plan. At a high level, Sullens said that the company will continue to invest in PestPac, its pest-control product; expand PestPac’s footprint; and improve the experience of it pest-control customers. This is the largest field service vertical WorkWave has. The company will also expand beyond the pest-control field service vertical to cleaning and janitorial franchise businesses; and to lawn and landscaping; plumbing; and heating, ventilation and air-conditioning (HVAC) businesses. “We are doing that through a product we are getting ready to launch in Q4.”

The company is also developing software to expand in the last mile logistics market for companies that do package delivery, food delivery and prepared meal delivery, a growing sector. “We have some exciting initiatives going on that will really differentiate our products in this market and allow us to grow even faster."



Esther Surden is Publisher and Editor of NJTechWeekly, and a contributor to Philly Tech News. This article originally appeared in NJTechWeekly, and is republished here with her permission.



Energage Receives $15 Million in Funding to Cement Position as Market Leading Employee Engagement Platform

EnglishFrançais

Search
Register Sign In

Energage Receives $15 Million in Funding to Cement Position as Market Leading Employee Engagement Platform

Trusted Workplace Survey Company Gives Talent Leaders the Power to Solve Employee Engagement Through Pulse Surveys, Workplace Insights, Coaching, and Recognition




Share3
October 04, 2017 07:30 ET | Source: Energage
photo-release

Doug Claffey, CEO of Energage
EXTON, Penn., Oct. 04, 2017 (GLOBE NEWSWIRE) -- Energage, the employee engagement platform that unlocks potential and inspires performance, today announced a $15 million round of funding. Energage also unveiled its new name and launched a new technology platform to give talent leaders the ability to measure engagement and act on workplace insights.

The new employee engagement platform from Energage, formerly WorkplaceDynamics, builds on the company’s proven, core survey capabilities used by over 7,000 organizations a year, along with its rich insights and consulting expertise.

The new round of investment and strategic guidance from NewSpring Capital, along with additional financing from Bridge Bank, will support Energage to drive continued growth, specifically by focusing on sales, marketing, and product development. Previous investors Rittenhouse Ventures, also participated in this financing.

“This round of funding validates our vision to create meaningful conversations between managers and employees that inspire people and energize organizations to achieve profound results,” said Doug Claffey, CEO of Energage. “Our technology approach to employee engagement builds on our trusted survey products, adding new features such as social recognition to allow people to appreciate and celebrate their colleagues and their work.”

“Energage understands the evolving dynamics of today’s work environment and is creating solutions to address some of the most challenging issues being faced by employers and employees alike,” said Michael DiPiano, Managing General Partner of NewSpring Capital. “We are excited to partner with the Company and look forward to working alongside the team as they create better and more productive workplaces for their clients.”

With only one in three U.S. employees engaged in the workplace, talent leaders crave a solution to attract, retain, and inspire top talent to achieve great things. For more than a decade, Energage has built an unmatched reputation in workplace surveys (annual and pulse) and culture-building expertise. Energage is the trusted survey provider behind Top Workplaces, the respected program that recognizes good employers nationally and regionally, and it partners with major newspapers such as The Washington Post, The Boston Globe, and the Chicago Tribune to provide aspiring companies with actionable employee engagement insights.

Moving to the name Energage captures the spirit of the new platform and its rapid transition from measurement to action, energizing meaningful discussions and inspiring higher performance.

“Our mission is making the world a better place to work together,” Claffey said. “With the Energage platform, companies finally have a way to turn the potential of engagement into real action.”

###

About Energage

We are a HR Technology company based in Exton, PA and formerly known as WorkplaceDynamics. The Energage platform helps realize your workplace’s full potential by combining cutting-edge AI technology, Top Workplaces insights, and personalized guidance. We combine neuroscience, organizational development, and over 14 million survey responses into clear next steps for you to develop an employee-centric approach to success.

About NewSpring

Founded in 1999, NewSpring partners with the innovators, makers, and operators of high-performing companies in dynamic industries to catalyze new growth and seize compelling opportunities. The Firm manages approximately $1.7 billion across four distinct strategies covering the spectrum from growth equity and control buyouts to mezzanine debt. When NewSpring invests, they bring a wealth of knowledge, experience, and resources to take growing companies to the next level and beyond. Partnering with management teams to help develop their businesses into market leaders, NewSpring identifies opportunities and builds relationships using its network of industry leaders and influencers across a wide array of operational areas and industries. Visit NewSpring at www.newspringcapital.com.

About Bridge Bank

Bridge Bank is a division of Western Alliance Bank, Member FDIC, the go-to bank for business in its growing markets. Bridge Bank was founded in 2001 in Silicon Valley to offer a better way to bank for small-market and middle-market businesses across many industries, as well as emerging technology companies and the private equity community. Geared to serving both venture-backed and non-venture-backed companies, Bridge Bank offers a broad scope of financial solutions including growth capital, equipment and working capital credit facilities, sustainable energy project finance, venture debt, treasury management, asset-based lending, SBA and commercial real estate loans, ESOP finance and a full line of international products and services. Based in San Jose, Bridge Bank has eight offices in major markets across the country along with Western Alliance Bank’s robust national platform of specialized financial services. Western Alliance Bank is the primary subsidiary of Phoenix-based Western Alliance Bancorporation. One of the country’s top-performing banking companies, Western Alliance ranks #4 on the Forbes 2017 “Best Banks in America” list. For more information, visit bridgebank.com.

Attachments:

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/c7edc9ba-c705-4c18-af87-8499263c6f68

Attachments:

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/cbb32de7-414c-4840-884f-cdbf7d47516a




9/30: Former Uber CEO Names Two Directors Without Consulting Board; Universal Display Rides ‘Apple Effect’ to Top Tech Index Return

Former Uber CEO Names Two Directors Without Consulting Board (Bloomberg)
How inconsiderate of him!

Alibaba is leading a $27M investment in open source database startup MariaDB (TechCrunch)

Why Amazon should buy Twitter (Recode]




Magazine Mogul S.I. Newhouse Dies At 89 (NPR)


Universal Display Rides ‘Apple Effect’ to Top Tech Index Return (Bloomberg)


Apple's TV Strategy Becomes Clearer as Top Stars Jockey for Shows (Hollywood Reporter)

Disney, Altice Reach Agreement in Principle (Mutichannel News)


PayPal Is Finding a Profitable Niche In Other Corners of the World (Barron's Next)

The Marketing Clouds Are Growing Apart (AdExchanger)


Oracle Plans To Reinvent Data Management By Focusing On Its DMP’s Strengths (AdExchanger)

Oracle launches 18c, its autonomous database and automated cybersecurity system (ZDNet)









9/29: SoftBank's Thorny Uber Deal; eMoney Adds Advisor Marketing Tools To Financial Planning Platform




 Subscribe in a reader
Subscribe to Philadelphia Tech News by Email






Walmart’s Jet.com site to launch its own line of groceries (NY Post)

How Walmart turned its $3.3 billion acquisition of Jet.com into its greatest weapon against Amazon (Business Insider)


JEFFERIES: Amazon is going to dominate the toy industry this holiday season (AMZN) (Business Insider)


"a source close to the deal puts the price tag south of $75 million [on TaskRabbit's sale to Ikea]. TaskRabbit had raised around $50 million in VC funding"
Axios Pro Rata



N.J. college tweaks name of new building after infamous 'body slam' by donor (NJ.com)



SoftBank's Thorny Uber Deal
(Bloomberg)






eMoney Adds Advisor Marketing Tools To Financial Planning Platform (Wealth Management)

Roku IPO valuation doubles in fewer than two sessions (MarketWatch)


Data Center Spending Is Off The Charts This Year
(Fortune)


Resort management software company raises $420K ahead of ski season
(BusinessDen)
PA connection.




9/28: Ikea has bought TaskRabbit; A new Amazon plant stalled in the Philly suburbs




 Subscribe in a reader
Subscribe to Philadelphia Tech News by Email





Ikea has bought TaskRabbit (Recode)
First Round Capital was a seed funder of TaskRabbit; Ikea USA is based in Conshy, though its not purely a US acquisition.

"Last September, CEO Brown-Philpot said TaskRabbit was cash flow positive in its cities, and close to reaching profitability overall."

Behind Ikea’s purchase of Taskrabbit, Amazon looms (San Francisco Chronicle)

Ikea is buying TaskRabbit because America’s DIY spirit is dying (Quartz)


A new Amazon plant stalled in the Philly suburbs (Philly.com)
"Harrisburg, which wants to put Amazon in an ex-psychiatric hospital;"

Roku skyrockets on opening day of trading—jumps more than 50% (CNBC)

Roku IPO: Shares jump 68% as investors bet the firm can fend off Amazon, Apple and Google (LA Times)


Here are all the cities near Philly vying for Amazon's new HQ (Curbed Philly)

How David Vey’s technology investment led to a slew of financial and legal problems (Greater Baton Rouge Business Report)
Louisiana real estate guy has had big problems since investing in King of Prussia-based software firm Sedona.

USI Insurance Services Acquires Exton-based David M. Banet & Associates (Insurance Journal)



NewSpring Holdings Completes Series B Round Driving Continued Growth and Scale to Platform Companies (Press Release0

NewSpring
arrow_back Return to News
NewSpring Holdings Completes Series B Round Driving Continued Growth and Scale to Platform Companies
NEWSPRING HOLDINGS

September 27, 2017

Radnor, PA – September 27, 2017 – NewSpring (“the Firm”), a family of private equity strategies providing growth and expansion capital, announced today that NewSpring Holdings LLC (“Holdings”), the Firm's dedicated buyout strategy, has completed a Series B financing round of preferred investment led by 17Capital. Proceeds from the round will go toward the strategic growth and expansion of NewSpring Holdings’ four existing platform portfolio companies and the acquisition of additional platforms.

Launched in 2013 and uniquely structured as a holding company, NewSpring Holdings was formed to execute a buy and build strategy with up to six platform investments in the tech-enabled services sector. Holdings’ capital structure enables the team to execute in a manner similar to that of a traditional private equity fund, but with a differentiated horizon model that allows for enhanced flexibility to maximize portfolio value.

Since inception, NewSpring Holdings has raised two rounds of capital with over $140 million in AUM to date and is projected to grow to over $350 million in consolidated revenue by year-end. With this latest capital raise, Holdings will continue to execute on its strategy to provide significant financial backing to accelerate continued growth and broaden the scope of its portfolio companies’ offerings.

“The NewSpring Holdings team has extensive operational experience to help support fast growing businesses in an impactful way,” commented Robert de Corainville, Partner and Head of 17Capital’s New York office. “We are pleased to partner with this dynamic team as they continue to build businesses and add value for their existing investors.”

To date, NewSpring Holdings has completed four platform and eight add-on acquisitions. Its portfolio includes Vertical Management Systems, one of the nation’s leading providers of data, financial networking, and account aggregation technology; Magna5, a nationwide provider of cloud-based communications and hybrid network solutions; USPack, a national logistics company focused on providing same-day and next-day delivery services to Fortune 500 corporations across the U.S.; and Wealthcare Capital Management, a pioneer of goals-based, wealth-management technology that provides wealth advisors with a solution to help clients clarify their goals and risk preferences.

“We look to grow our companies through organic and acquisitive means,” said Skip Maner, NewSpring Holdings Partner. “By teaming up with a great partner like 17Capital, we will be in a strong position to accelerate these growth initiatives.”

About NewSpring Holdings
NewSpring Holdings, NewSpring’s buy-and-build strategy focused on control buyouts and platform builds, brings a wealth of knowledge, experience, and resources to take profitable, growing companies to the next level through acquisitions and proven organic methodologies. Founded in 1999, NewSpring partners with the innovators, makers, and operators of high-performing companies in dynamic industries to catalyze new growth and seize compelling opportunities. The Firm manages approximately $1.7 billion across four distinct strategies covering the spectrum from growth equity and control buyouts to mezzanine debt. Partnering with management teams to help develop their businesses into market leaders, NewSpring identifies opportunities and builds relationships using its network of industry leaders and influencers across a wide array of operational areas and industries. Visit NewSpring at www.newspringcapital.com.

About 17Capital
17Capital is a leading, global, private equity specialist with one focus: financing successful investors in private equity. The firm provides capital to investors in the form of preferred equity or unsecured loans, with a view to helping them build their portfolio or generate liquidity for their shareholders. It has pioneered its market and, with over 35 transactions executed and over $1 billion invested in the last 3 years, has arguably built a strong leadership position. 17Capital was formed in London in 2008 and opened an office in New York in 2016. It has raised €2 billion since inception in four successive funds in 2010, 2012, 2014, and 2017. The team of 23 professionals focuses on investment opportunities in Europe and North America from $10 million and to more than $500 million. Visit 17Capital at www.17capital.com.

NewSpring



9/27: Roku sets IPO price that values company at $1.3 billion; SoftBank Deal Is Said to Ensure Limits on Kalanick’s Power




 Subscribe in a reader
Subscribe to Philadelphia Tech News by Email




SALESFORCE TRIES TO GIVE PUBLISHERS' DATA NEW APPEAL TO MARKETERS (Ad Age)

Guess Who’s King of Cloud Revenue Growth? It’s Not Amazon or Microsoft (Fortune)

USAmazon! Report says that the tech giant created more jobs last year than 46 states
(GeekWire)

Amazon Who? This Fast-Growing, Teen-Focused Retailer Breaks Out (IBD)
Five Below continues to perform well.



The whole credit score model is 'ridiculous' (CNBC / Commentary)


SoftBank Deal Is Said to Ensure Limits on Kalanick’s Power (Bloomberg)


Hulu’s new deal with NBCU brings ’30 Rock’ and other shows to its on-demand service (TechCrunch)

Comcast seeks $153M damages award in patent fight with Sprint (FierceCable)
A Pennsylvania jury (in the U.S. District Court for the Eastern District of Pennsylvania) didn't help Comcast out much.

Roku sets IPO price that values company at $1.3 billion (CNBC)


At this Angel Venture event, I won't be asking, 'Where are all the women?' (Philly.com)

TaskRabbit’s founder has joined a VC firm, as the company continues to explore a sale (Recode)






9/26: Equifax CEO steps down; Comcast Rolls Out ‘Xfinity Instant TV’ Beta




 Subscribe in a reader
Subscribe to Philadelphia Tech News by Email





Equifax chief executive steps down after massive data breach (ZDNet)



Credit agency Experian says it can protect you from the 'dark Web' — sort of (LA Times)

How Private Equity and Venture Capital Investors Are Eating Their Own Dogfood (AlleyWatch)


Comcast Rolls Out ‘Xfinity Instant TV’ Beta (Multichannel News)

Sources: McConnell Files Cloture on Pai Nomination (MultiChannel News)

Lyft Adds Ford to Its List of Self-Driving Car Partners (NY Times)



Google Cloud acquires cloud identity management company Bitium (TechCrunch)
Bitium competes with and in some ways works with Gigya, which SAP announced it would acquire on Sunday.

SAP breaks buying slump (Inorganic Growth)

ProsperWorks raises $53 million to take on Salesforce’s CRM (VentureBeat)




SAP to acquire Gigya; First Round an investor

Tom Paine




 Subscribe in a reader
Subscribe to Philadelphia Tech News by Email






SAP, in one of its 'Sunday morning surprises' that enterprise software reporters are accustomed to (due I think to Euro reporting requirements) announced an acquisition yesterday morning. Not a huge one by its standards, but interesting none the less.

It agreed to buy Gigya , a leading SaaS identity and access management vendor. Originally an Israeli firm, Gigya in recent years moved headquarters to Silicon Valley, though R&D continues in Israel. The Israeli paper Globes, which broke the story, reported the price at $350 million, which has been largely verified by other sources. Gigya had raised $105.8 million.

First Round Capital had invested in Gigya's Series A, B, and C rounds of financing, according to CrunchBase data. I don't know what its stake was, but as an early investor I imagine its return was rather good.

Gigya had attracted some IPO talk in the past, but judging from the acquisition price its doubtful it had reached a scale where it would have been a strong IPO candidate, which is likely why it sold. Gigya has around 300 employees.

Gigya will be folded into SAP's ecommere solution, Hybris. SAP said it announcing the deal:

"Gigya’s consent-based identity data platform and SAP® Hybris® Profile data matching and enrichment capabilities to be integrated
Identify and opt-in consumers for personalization across all customer touchpoints — customers maintain control of their data."

As R "Ray" Wang, CEO of Constellation Research, commented in responding to me by email, "Identity is key to commerce and marketing. no other way around it."

One question I have is how applicable this will be on the business-to business side, or is it simply a consumer marketing tool.




9/25: Zuck & cheesesteaks; Things cities will do for Amazon




 Subscribe in a reader
Subscribe to Philadelphia Tech News by Email






Facebook CEO Mark Zuckerberg Likes Pat's Steaks
(NBC Philadelphia)


Interesting question why Zuck came to Philly, since court case is settled

Joe Biden will give daily news briefings on Echo and Google Home (Engadget)

Nothing Is Too Strange for Cities Wooing Amazon to Build There (NY Times)

Could Harrisburg be the site of Amazon's new headquarters? (Penn Live)


SAP wants to embrace all your data stores with Data Hub (IT World)


76ers' owners form new parent company to 'accelerate growth' (Philadelphia Business Journal)

BAMTech Gets a Website, Logo (Multichannel News)







SAP to Acquire Gigya, Market Leader in Customer Identity and Access Management (Press Release)




SAP to Acquire Gigya, Market Leader in Customer Identity and Access Management
Acquisition to strengthen SAP’s position in omnichannel customer experience
Gigya’s consent-based identity data platform and SAP® Hybris® Profile data matching and enrichment capabilities to be integrated
Identify and opt-in consumers for personalization across all customer touchpoints — customers maintain control of their data
WALLDORF, Germany — September 24, 2017 — SAP SE (NYSE: SAP) today announced it has entered into an agreement to acquire Gigya, a market leader for customer identity and access management. Major independent analyst firms, most recently Forrester Research,1 have positioned Gigya as a top vendor in this field.

Gigya’s customer identity and access management platform helps companies build digital relationships with their customers. Its platform allows companies to manage customers’ profile, preference, opt-in and consent settings, with customers maintaining control of their data at all times. Customers opt in and register via Gigya’s registration-as-a-service, which addresses changing geographical privacy issues and manages compliance requirements such as the upcoming General Data Protection Regulation (GDPR). Gigya currently manages 1.3 billion customer identities in order to build identity-driven relationships for its enterprise clients.

Gigya’s technology provides new capabilities to consumers across channels and touch points, builds rich intelligent profiles and creates a consent-based approach to personalization across sales, service and marketing. Gigya, an SAP Hybris2 partner since 2013, has customers already using a solution extension from SAP Hybris and Gigya. This acquisition will enable the teams to further build upon this existing strong relationship.

“Gigya brings a wealth of skills and expertise that will significantly enhance the SAP® Hybris® Profile solution and allow us to take leadership of the emerging customer identity and access management market,” said Carsten Thoma, president and cofounder of SAP Hybris. “Consumer trust is the main currency to succeed for customer-driven organizations. This is what Gigya is known and recognized for.”

By way of the acquisition, SAP Hybris intends to become the first organization to offer a cloud-based data platform enabling companies to profile and convert new customers, gather accurate conclusions from disparate consumer engagement sources and collect data for enhanced consumer choices that are in line with regulations.

“Combining the data matching and enrichment capabilities of SAP Hybris Profile with Gigya’s consent-based identity data and access management platform will allow us to identify consumers across channels and offer a robust single consumer profile,” said Patrick Salyer, CEO of Gigya. “This is a vital step for digitalizing businesses because companies need to be able to draw accurate conclusions seamlessly across all channels, including web, mobile, in-store or connected devices, and the Internet of Things, as well as collect data about consumer preferences. Together we are well positioned to drive more effective marketing, sales and service through data, while the customer stays in control of how much data is shared.”

Gigya has more than 300 employees and is headquartered in Mountain View, California. The company’s operations will become part of the SAP Hybris business unit for customer engagement and commerce. The transaction is expected to close in the final quarter of 2017, subject to regulatory approval. Terms of the transaction are not disclosed.


For more information on SAP Hybris solutions, visit the SAP Hybris News Center or follow on Twitter at @saphybris. For more information on SAP, visit SAP News Center or follow SAP on Twitter at @sapnews.

(1) “The Forrester Wave™: Customer Identity and Access Management, Q2 2017.”

(2) SAP Hybris is a brand name launched in January 2016 to represent the SAP solutions for customer engagement and commerce as well as the offerings, employees, and business of acquired company hybris AG, which continues to be the legal entity until integration with SAP is complete.

Share this page

Talk to a sales representative
sales@hybris.com

Phone Us
US: 1800-877-2340
EU: +49 89 890 650

All Offices

Request a call back
back to top
Learn more about how we can help you reach your goals
Contact Us
Phone us
Receive SAP Hybris news
Subscribe Now
Follow Us

Presented by SAP Hybris:
The Future of Customer Engagement and Commerce
SAP Hybris labs
© Hybris AG Legal Languages Sitemap


Weekend highlights: On Bill McDermott's comeback; Could the Pennsylvania Budget Battle Sink Amazon HQ2 Dreams?




 Subscribe in a reader
Subscribe to Philadelphia Tech News by Email




SAP CEO comes back from horrific accident: 'I have a calmness... of mind' (USA TODAY)

Disney Warns Altice NY Customers They May Lose ESPN, ABC (Bloomberg)

Just being Watchable isn't enough, Comcast found (Philly.com)

Could the Pennsylvania Budget Battle Sink Philadelphia and Pittsburgh's Amazon HQ2 Dreams? (NBC Philadelphia)



Fidget spinners and squishies: some Toys 'R' Us toymakers cut ties (Reuters)



9/22: T-Mobile, Sprint get serious; This little Dell company aims to change software coding forever




 Subscribe in a reader
Subscribe to Philadelphia Tech News by Email




Exclusive: T-Mobile, Sprint close to agreeing on deal terms - sources (Reuters)

Underwhelming Turnout For New IPhone 8 In Philly (CBS PHILLY)


This little Dell company aims to change software coding forever (Silicon Angle)

'Hey, Walmart, please use my API instead of your EDI' (ZDNET)


The top 5 supply chain management vendors (CIO.COM)
SAP #1 by far.

A power struggle between Facebook and investors just ended with Facebook dropping plans to issue non-voting shares (Business Insider)
So Zuck won't be coming to Wilmington next week.


SAP co-founder apologises to South Africa over R100m Gupta payment (The South African)

THE AMAZON FOLLIES (Philadelphia Citizen)


Texas Seems Primed to Land Amazon’s Second Headquarters (Texas Monthly)

ESPN Will Count Linear, Streaming Audiences as One (Variety)




Philly Makes Its Pitch for Amazon HQ (Bloomberg Video)



9/21: Ellison Says Oracle Can Beat Amazon at Its Own Game; Comcast Buys Stringify for IoT




 Subscribe in a reader
Subscribe to Philadelphia Tech News by Email




Amazon Says It Will Create 2,000 Jobs With a New Office in New York City (Fortune)






Larry Ellison Says Oracle Can Beat Amazon at Its Own Game (CMSWire)


Comcast Buys Stringify (Multichannel News)

Comcast to Open Xfinity Stores Early for iPhone 8 Launch (Multichannel News)






Philadelphia co-working company is finalizing a deal to absorb 1776 (Washington Business Journal)


Unisys: Micro-segmentation and AI in the security wake of Equifax (Enterprise Irregulars)






How former SunGard exec went out on her own and founded a $1.7 billion cloud software company

Tom Paine




 Subscribe in a reader
Subscribe to Philadelphia Tech News by Email



Therese Tucker earned a computer science degree and was a programmer for a firm which then Wayne-based SunGard acquired in the 1980s. Eventually she became CTO of its treasury systems department. Seventeen years later, burnt out after leaving her job at SunGard, she started an entrepreneurial journey that resulted in her founding an LA-based cloud accounting software startup - BlackLine - that earlier this year successfully IPOd and is now worth $1.7 billion.

Read Inc.'s story about how she accomplished it .



9/20: Meet Group goes German with $70M+ Lovoo deal; Does Philly has a ‘reputation problem’ among job seekers?

Meet Group goes German with $70M+ Lovoo deal (Philly.com)

Malvern-based chemicals producer PQ Group Holdings sets terms for $638 million IPO (Renaissance Capital)

Toys R Us brings its e-commerce platform in-house brings its e-commerce platform in-house (Internet Retailer)
From April: Toys R Us finally ends long reliance on GSI Commerce / Radial.
“Over the past two years we’ve had to catch up on 10 years of innovation and technology,” said a Toys R US spokesperson.


Comcast’s top government guy says Trump won’t stop many mergers (Recode)

Ikea Place is an AR app that lets you put furniture on the street (The Verge)

Survey: Amid Amazon headquarters race, Philly has a ‘reputation problem’ among job seekers (PhillyVoice)





E-sports goes pro, as Comcast buys a professional Overwatch franchise for Philly (Philly.com)





Marketing tech startup mParticle has raised $35 million in Series C funding (Business Insider)

New GE Chief Confirms Narrower Focus for Industrial Cloud
(Fortune)

Amazon Could Be Targeting Pharmacy Delivery Business (IBD)