Workday acquires the team behind Pattern, a young startup founded by ex-Googlers (TechCrunch)
First Round Capital one of Pattern's investors.

Goldman Sachs breaks down how Amazon can jump into health care (CNBC)


Retail is in 'panic mode,' says Dick's Sporting Goods CEO (CNBC)

Urban Outfitters Inc. reports a better quarter than expected (Philly.com)



Osage leads round in Charlottesville-based VividCortex

Tom Paine




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In a Series A-1 funding announced today, Charlottesville-based VividCortex has raised $8.5 million led by Philadelphia-based Osage Venture Partners. Bull City Venture Partners also participated in the round, as did all existing investors, including New Enterprise Associates (NEA) and Battery Ventures.

While another earlier OVP investment, SevOne, focused on an enterprise's network performance, VividCortex concentrates on database performance. VividCortex’s Database Performance Management platform provides insights into database workload and query performance, enabling teams to proactively resolve database issues faster, the company says. It claims customers such as DraftKings, Etsy, GitHub, SendGrid, Shopify, and Yelp.

OVP Partner David Drahms has been appointed to the VividCortex Board of Directors. To date, VividCortex has raised $15 million.

OVP might disagree, but I see in it leading this round with such prestigious partners to be perhaps a sign that it is becoming more widely visible in the enterprise software investing space.

Read the press release.




CT's Horizon stakes Philly's WebLinc (Hartford Business)

Agilence Receives US$4m in Financing (Finsmes)

Verizon Video Woes Pile On (Light Reading)





8/14: Hulu, FICO go with AWS; Comcast Launches DOCSIS 3.1 in Philadelphia, Baltimore




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Hulu Rolls With Amazon’s Video Cloud (Multichannel News)

AWS infrastructure is now behind three main streaming media providers (ZDNet)


Comcast Launches DOCSIS 3.1 in Philadelphia, Baltimore (Multichannel News)


Domain name registry Donuts raises $110M in financing to help fund $213M acquisition of former rival Rightside (GeekWire)
Radnor-based TL Ventures led a $54M Series C in Donut in 2015.

What Is SoftBank's Endgame in the U.S.? (Hollywood Reporter)

Wasting millions on failed tech upgrades hurts Philadelphians (OpEd/Philly.com)



Weekend Highlights: Uber Board Considers 3 Investment Offers to Buy Company’s Shares ; How Nutrisystem lost flab and got into fighting shape




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Altice Is Considering Seeking Equity Funds for Charter Bid (Bloomberg)

America's 'Cable Cowboy' Lays the Groundwork for Internet Dominance Beyond the U.S. (Dow Jones)


SoftBank’s Plan B: Win over Uber investors who aren't Benchmark (Recode)

Uber Board Considers 3 Investment Offers to Buy Company’s Shares (NY Times)


The HR process is filled with bias, and SAP is selling tech to change that (Quartz)

How Nutrisystem lost flab and got into fighting shape (Philly.com)
Nutrisystem must be on a PR offensive, had a simultaneous feature article in the WSJ (subscription).





8/11: After the Seeso is over: TuneIn raises $50 million led in part by Comcast Ventures




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Seeso postmortem: Stop treating OTT like linear TV, analyst says (Fiercecable)

Nokia Wants To Demo Its Small Cell Technology for Comcast (Wireless Week)

TuneIn Raises $50 Million to Prove Online Audio Can Make Money (Bloomberg)
Comcast Ventures one of the leads. Always wondered if Comcast should have a radio strategy, in spite of that segment's problem.
TuneIn seems to be monetizing radio content over the internet that used to be free, which I don't particularly like.


Some startup founders are ‘nervous’ about dealing with Benchmark after it sued Uber (Recode)

Exclusive: Uber shareholder group wants Benchmark off board (Axios)

Blue Apron is stuck in a dangerous cycle that has nothing to do with Amazon (Recode)






8/10: Benchmark Capital sues Travis Kalanick for fraud; Payment giant PayPal buys Philly-area's Swift




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Scoop: Benchmark Capital sues Travis Kalanick for fraud (Axios)

Longtime Uber exec Ryan Graves to leave company but remain on board (LA Times)
"It was also Graves, the CEO at the time, who brought in the venture capital firm First Round Capital as Uber’s first big investor."
Maybe so, but I had always assumed it was Josh Kopelman's prior relationship with Garrett Camp through StumbleUpon that led to the connection.

Blue Apron Stock Is Now Worth Far Less Than One of Its Meals (Bloomberg)

Payment giant PayPal buys Philly-area's Swift
(Philly.com)
This is very interesting.


Why Everyone Is Hating on IBM Watson—Including the People Who Helped Make It (Gizmodo)

Amazon could start selling event tickets in the U.S. (TechCrunch)

Rethinking ERP buyers, from cloud ERP to vendor selection – with Gabriel Gheorghiu (Diginomica)

Salesforce’s Disruptor Won’t Be A CRM Company (Tom Tunguz)
Microsoft would be a good bet, by his thesis.




8/9: SunGard LBO Shines In Its New Home; PRA to buy Conshohocken-based Symphony Health for $530M+



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That Once-Troubled SunGard LBO Shines In Its New Home (Bloomberg)


PRA to buy Conshohocken-based data and analytics company for $530M+ (Triangle Business Journal)
Symphony Health.

AG SOFTWARE COMPANY GRANULAR ACQUIRED BY DUPONT
(Agriculture.com)
Granular had raised $25 in two rounds, according to CrunchBase.

Altice weighing takeover offer for Charter: sources (Reuters)



Birchbox has held acquisition talks with several retailers, including Walmart (Recode)


8/8: Softbank and Its Vision Fund Are Investing $1B in Fanatics; How Major League Baseball Is Disney’s Secret Weapon Against Netflix




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UPDATE: Softbank and Its Vision Fund Are Investing $1B in Fanatics - DJ (Street Insider)

SoftBank invests $1 billion in sports e-commerce firm Fanatics: sources (Reuters)

How Major League Baseball Is Disney’s Secret Weapon Against Netflix
(Fortune)


Departure of Ruckus channel chief confirms Arris’ confidence in pending takeover, insiders say (FierceCable)

So about this Dell digital transformation story. Pivots. (Redmonk)

Philly wastes time, money on computer system upgrades (Philly.com)

Fidelity Brings Bitcoin Tracking to Traditional Investor Portfolios (CoinDesk)



8/7: Uber co-founder says Kalanick is not coming back; Cloudamize's return to its investors




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Uber board member and co-founder Garrett Camp says Travis Kalanick is not coming back as CEO (Recode)

Dish misses profit expectations but limits subscriber losses (Reuters]

Analysts want answers on ESPN’s OTT service (SportsBusinessDaily)

How Cloudamize yielded '52% a year' for local investors (Philly.com)

Square Mile Lends $91M on Booming Philly Suburb Office Space (Commercial Observer)`

Boxed Pays for Worker Weddings. Will the Perk Survive Automation? (Blooomberg}





Weekend Highlights: V-22 Osprey crash in Australia; Vertex in new King of Prussia headquarters




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The V-22 Osprey: A Crash Decades in the Making (Fortune)
V-22 Osprey built by Boeing at Ridley Park, Delco.


Salesforce's second-largest business just hired its fourth new leader in four years as growth slows (CNBC)

Blue Apron falls on misleading layoff reports (Marketwatch)



Activist Ackman Looks for Board Seats, Better Returns at Payroll Firm ADP (NY Times)

Dow, DuPont Set Aug. 31 for Closing of Historic Chemical Merger (Bloomberg)

Vertex settles in to new King of Prussia headquarters (Daily Local News)



Thoma Bravo to Acquire Malvern-based Frontline Education (Press Release)


Thoma Bravo to Acquire Frontline Education
Transaction Marks A Significant Investment In Education Technology by Leading Private Equity Firm

Thoma Bravo (PRNewsfoto/Thoma Bravo)
NEWS PROVIDED BY
Thoma Bravo
12:06 ET
SHARE THIS ARTICLE

SAN FRANCISCO and MALVERN, Pa., Aug. 4, 2017 /PRNewswire/ -- Thoma Bravo, a leading private equity investment firm, today announced that it will acquire Frontline Education ("Frontline"), an integrated insights partner serving more than 12,000 educational organizations across America. The transaction is expected to close late in the third quarter of 2017, subject to usual and customary closing conditions and regulatory approvals. Insight Venture Partners, a prior investor in Frontline, will retain a minority stake in the company. Financial details of the transaction were not disclosed.

Frontline, with its awarding-winning administrative and HR software solutions, serves more than 12,000 educational organizations across America, and enables them to make evidenced-based decisions that drive better outcomes for both educators and students. Across North America, major educational organizations rely on Frontline's trusted solutions, with more than 5 million education employees and 1.2 million substitutes logging into its systems on a daily basis.

"This investment by one of the nation's most astute evaluators of technology companies is extremely gratifying," said Tim Clifford, President and Chief Executive Officer of Frontline Education. "We are a company of people passionately devoted to K-12 education, and our partnership with Thoma Bravo will allow us to become even more valuable to educators, school districts, communities and, most importantly, students."

"Under Tim's leadership Frontline has become one of the preeminent technology solutions providers focused on the human capital needs of K-12 school districts," said Holden Spaht, a Managing Partner at Thoma Bravo. "We look forward to supporting the company's growth, both organically and through strategic acquisitions, while maintaining the high level of customer service for which Frontline is known."

Brian Jaffee, a Vice President at Thoma Bravo, added: "Frontline is an incredible organization. We are thrilled about the partnership and the opportunity to work with the management team to help enhance Frontline's market-leading platform of HR and administrative software solutions for the K-12 market."

In the past three years, Frontline Education has significantly expanded its solutions-based portfolio through organic growth and 10 strategic acquisitions. The businesses acquired by Frontline Education have been similarly mission-driven to improve outcomes in K-12 education.

"Our relationship with Insight Venture Partners has built incredible momentum for Frontline in our efforts to better serve the education community, and we look forward to continuing that momentum via our partnership with Thoma Bravo," said Mr. Clifford.

Frontline has approximately 650 employees in five locations around the U.S. The acquisition by Thoma Bravo is not expected to change the corporate headquarters, management team or employee base of the company.

UBS Investment Bank served as the lead investment advisor and Willkie, Farr & Gallagher LLP and Cooley LLP served as legal advisors for Frontline Education. Thoma Bravo was advised by Kirkland and Ellis LLP.

About Thoma Bravo, LLC
Thoma Bravo is a leading private equity firm focused on the software and technology-enabled services sectors. With a series of funds representing more than $17 billion in capital commitments, Thoma Bravo partners with a company's management team to implement operating best practices, invest in growth initiatives and make accretive acquisitions intended to accelerate revenue and earnings, with the goal of increasing the value of the business. Representative past and present portfolio companies include industry leaders such as Blue Coat Systems, Deltek, Digital Insight, Global Healthcare Exchange, Hyland Software, iPipeline, PowerPlan, Qlik, Riverbed, SailPoint, SolarWinds, SonicWall, Sparta Systems and TravelClick. The firm has offices in San Francisco and Chicago.

For more information, visit ThomaBravo.com.

About Frontline Education 
Frontline Education is an integrated insights partner serving more than 12,000 Educational Organizations and millions of educators, administrators and support personnel in their efforts to develop the next generation of learners. With nearly 20 years of experience serving the front line of education, Frontline Education is dedicated to providing actionable insights that enable informed decisions and drive engagement across school systems.

Bringing together the best education software solutions into one unified platform, Frontline makes it possible to efficiently and effectively manage the administrative needs of the education community, including their recruiting and hiring, employee absences and attendance, professional growth and special education and interventions programs. Frontline Education corporate headquarters are in Malvern, Pennsylvania, with offices in Andover, Massachusetts, Rockville Centre, New York, Salt Lake City, Utah and Chicago, Illinois.

Learn more at FrontlineEducation.com

Media Contacts

Thoma Bravo Media Contact:
Matthew Gorton
Hiltzik Strategies
212-776-1161
mgorton@hstrategies.com

Frontline Education Media Contact:
Andrea Fitzpatrick
484-983-8688
afitzpatrick@frontlineed.com

SOURCE Thoma Bravo



8/4: Early reports mischaracterize Blue Apron NJ layoffs, much smaller # effected




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Blue Apron is laying off a quarter of its staff (TechCrunch)
1270 jobs reported cut in Jersey City.

Blue Apron Is Closing Jersey City Facility and Moving 1,270 Jobs (Bloomberg)
To beautiful Linden. The rest of the story.

Blue Apron Corrects Layoffs Rumor: Only 470, Or Fewer, It Says (Barron's Tech Trader Daily)




Drug pricing pressure weighs on AmerisourceBergen forecast (Reuters)

SAP Says Restrictions on New Recruitment not a General Hiring Freeze (Fortune)


So What’s Up with Oracle Cloud? ( James Governor / Enterprise Irregulars)

TiVo’s Q2 revenues spike 67% after merger; ‘making progress’ on Comcast litigation (FierceCable)


Alumni from top Georgia incubator see 145% increase in funding this year (VentureBeat)


8/3: Entercom invests in podcast network Dgital Media; Universal Display Rising: Q2 Crushes Consensus




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More money for podcasting: Radio network Entercom invests in podcast network Dgital Media (Recode)

Dell Shuffles Thin-Client Exec Deck As IGEL Comes On Strong (CRN)

How Boston has transformed itself into a powerful digital health ecosystem (Med City News)

Universal Display Rising: Q2 Crushes Consensus, Raises Year Revenue View (Barron's Tech Trader Daily)

Charter has moved millions of customers to new—and often higher—pricing (Ars Technica)

She's back! Jessica Rosenworcel returns to FCC as America's net neutrality row heats up (The Register)

Uber’s Stock Price Plunged After CEO Travis Kalanick Resigned (Fortune)



8/3: Amazon's massive jobs fair in Mercer County; EvolveIP buys its way into Europe; says sales will top $100M



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Philly cloud provider buys its way into Europe; sales top $100M (Philly.com)

Alibaba moves to take on crowded US cloud market (CIODive)


Comcast has ‘global opportunity’ with home automation wholesale, Xfinity Home chief Herscovici says (FierceCable)

We visited Amazon's massive jobs fair at a warehouse in New Jersey, where people lined up around the block hoping to score a job (Business Insider)
Robbinsville, Mercer County.

Tableau’s loss shrinks as subscription sales grow (Seattle Times)
Cites improvements at Qlik and Microsoft.



"Vanguard, whose $7.5 billion U.S. Growth Fund owns shares in Uber, cut the value of its position by 15% in June" ( Fortune Term Sheet)




8/1: Unisys Combines Services, Enterprise Teams In Response To Revenue Drop; Seed funding wilting?



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Lawsuits likely if Pa. expands online sales taxation (Philadelphia Business Journal)

Unisys Combines Services, Enterprise Teams In Response To Revenue Drop (CRN)

Seed funding wilts as Silicon Valley investors fret about valuations and IPO market
(VentureBeat)

Villanova announces Master's of Accounting with Data Analytics program (Accounting Today)

How Two Brothers Turned Seven Lines of Code Into a $9.2 Billion Startup (Bloomberg Business Week)





7/31: CDI taken private; Comcast eyes launch of Streaming Service by Year-End



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AE Industrial takes engineering design service provider CDI private (The Middle Market)

Leadership training provider ExecOnline raises new round of funding (New York Business Journal)
New York firm backed by NewSpring.

TOLL LAUNCHES VR DESIGN TOOL
(Builder Online)

Chester County entrepreneurs get inside look at launching tech with Magento exec (Daily Local News)

Netflix is carrying $20 billion in debt. Can it keep borrowing its way to success? (LA Times)

Comcast Eyes Launch of "Instant TV" Streaming Service by Year-End (Hollywood Reporter)

SoftBank Is Said to Have $65 Billion in Charter Offer Financing (Bloomberg)




Hagan-led group buys back Langhorne-based LifeShield after DirecTV, AT&T periods of rule

Tom Paine




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Michael Hagen, former CEO and investor in Langhorne-based LifeShield, as well as past CEO of Nutrisystem and internet pioneer Verticalnet, is returning as part of an ownership group that is buying the DIY home security business from AT&T-owned DirecTV, it was announced Thursday. Terms were not disclosed.

LifeShield Was Bought by DirecTV in 2013. DirecTV merged with AT&T in 2015, and AT&T decided LifeShield overlapped with its
own product line and decided to sell it.

The acquiring ownership group, Hawk Capital Partners, is led by managing partner Hagan and partner Jim Mirage, who among other things worked with Hagan at Verticalnet and on the Nutrisystem buyout. No other investments are listed on Bala Cynwyd-based Hawk Capital Partners' website.

LifeShield's press release announcing the deal seemed to emphasize the progress made under DirecTV's period of ownership, rather than the later years under AT&T. Hawk Capital Partners has appointed David Tanzer as the CEO of LifeShield, "where he will be responsible for reestablishing the company's leadership position in DIY wireless home security for the direct-to-consumer market", LifeShield said in its release.

Life Shield is one of several Philly-area companies competing in the emerging smart home market. Others include Comcast, Ring (which inherited most of Zonoff's workforce), and StratIS).


Weekend Highlights: Uber’s Search for New C.E.O. Hampered by Deep Split on Board; Discovery to Buy Scripps, Owner of Food Network, in $11.9 Billion Deal



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Uber’s Search for New C.E.O. Hampered by Deep Split on Board (NY Times)

SoftBank's Son Is Said to Plan Direct Offer for Charter (Bloomberg )

Discovery to Buy Scripps, Owner of Food Network, in $11.9 Billion Deal (NY Times)


DirecTV Sells Off LifeShield (Multichannel News)
Michael Hagan part of new ownership group.


Foxconn's $10B Wisconsin plant just the start of its U.S. investment, company says (Morning Call)

So who exactly was to blame for Marketo losing its dotcom? (The Register)


Charter & Sprint: Something up or nothing at all?



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One by One, Verizon M&A Rumors Aren't Working Out (Bloomberg)

Report: Sprint, Charter & Comcast Still In Wireless Talks (Android Headlines)

Report: Sprint Proposes Charter Tie Up (Multichannel News)

BUT: Already dead in the water?

Charter Rebuffs Sprint's Merger Proposal (Bloomberg)


7/24: Foxconn Reportedly Nearing Decision to Invest in Display Factory in Wisconsin; KKR buying WebMD for $2.8 billio



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CloudMine builds role as a strategic player as healthcare organizations’ data needs deepen (Med City News)
Steven Wray joins as CEO; McCorkle now president and chief innovation officer.

Foxconn Reportedly Nearing Decision to Invest in Display Factory in Wisconsin (MacRumors)
Does not sound too hopeful for PA.

New Arris Boxes Bring OTT to Tier 2 Market (Light Reading)


KKR buying WebMD for $2.8 billion (Axios)

Amazon is building the next multibillion dollar platform and it is all business (TechSpot)

CenturyLink, Frontier, Windstream suffer worst 3 quarters in history (FierceTelecom)


Pittsburgh Gets a Tech Makeover .
(NY Times)


7/23: Cloud Wars explained; E-commerce's next victim: commercial real estate



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The cloud wars explained: Amazon is dominating, but Microsoft and Google are striking back . (Business Insider)








Phony web stock 'experts' under the SEC microscope
. (Philly.com)

PNC’s New CIO is Agitator-In-Chief
(Barron's)

E-commerce's next victim: commercial real estate (Axios)



Avantor Opens New Collaborative Research Center in New Jersey . (Biopharm International)


7/21: Home security firm ADT reportedly could IPO for $15 billion; Michael Dell Says Public Cloud Is Important, But It’s Not Everything



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.




Home security firm ADT reportedly could IPO for $15 billion (CNBC)

Employee headcount: The rise and fall of job numbers at Comcast, Charter, Altice and more . (FierceCable)


SAP Q2 FY2017 – smooth and relaxed (Denn Hewlett / Diginomica)

Bill McDermott on competition vs Workday:
"But when you get beyond the United States and you start to get into more complex industries and companies, we do extremely well. And I can only tell you that based upon the way they’ve been purporting themselves in the market with letters, with fake news to customers and things like that we’re bringing our A-game."

Michael Dell Says Public Cloud Is Important, But It’s Not Everything (Fortune)


Athenahealth CEO: Metamorphosis is hard and good for us (CNBC)

A case study in food IT: How Campbell uses data to drive sustainability (Silicon Angle)


Mediacom taps Arris to backbone Wi-Fi network . (FierceCable)


7/20: SAP raises annual forecast on the back of strong growth in Q2 2017; IBM Not Changing Hearts and Minds; Slowing of ‘Strategic Imperatives’ Gives Pause



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SAP raises annual forecast on the back of strong growth in Q2 2017 (ZDNet)

Cloud services lift SAP sales but costs tether profit growth
(Reuters)

Co-working Spaces Spread to the Suburbs (Dow Jones News Service)

Curalate Showroom helps brands get social, head off Amazon Spark (Philly.com)



Medical industry embraces new .health domain extension (The Next Web)

Higher education and healthcare use specialist CRM in all but name (ComputerWeekly)


IBM Not Changing Hearts and Minds; Slowing of ‘Strategic Imperatives’ Gives Pause
(Barron's Tech Trader Daily)


7/19: Liberty Media’s Malone Weighs Investment In Univision: Report; Tower operator Crown Castle to buy Lightower for $7.1 billion



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NBC launches twice-daily "Stay Tuned" news show on Snapchat (Techspot)
Only 2 to 3 minutes in length, so to not tax Snap users' attention spans.

Liberty Media’s John Malone Weighs Investment In Univision: Report (Deadline)
Comcast's NBC owns competitor Telemundo.


City controller: Philly needs to avoid repeating costly technology mistakes (Philly Voice)

Tower operator Crown Castle to buy Lightower for $7.1 billion (Reuters)
Philadelphia one of Lightower's major markets.

Industrial IoT: Where Is Silicon Valley?
(Semiconductor Engineering)

Mayo Clinic begins shift to $1.5B digital records system from Epic Systems (Milwaukee Business Journal)








Veeva Systems Files Suit to Fight Unfair Business Practices That Limit Employee Rights (Press Release)


Veeva Systems Files Suit to Fight Unfair Business Practices That Limit Employee Rights

Legal action to set precedent in the overbroad use of non-compete,
confidentiality, and non-disparagement agreements

PLEASANTON, CA — July 18, 2017 — Veeva Systems (NYSE: VEEV) ) today announced it filed a lawsuit in the superior court of California to stop companies’ widespread misuse of non-compete, confidentiality, and non-disparagement agreements that restrict employees’ basic rights. Clauses in these agreements can materially impact an employee’s ability to pursue new job opportunities. Veeva is taking legal action to address the increasing limitations companies are placing on employees. The case can set an important precedent in the enforcement of employment clauses that are illegal in states such as California.

The widespread use of non-competes impacts an estimated 30 million American workers, which reduces employees’ mobility and presents a potentially significant threat to innovation and economic growth, according to a national study co-authored by J.J. Prescott, University of Michigan law professor.1

“Employees, employers, and economies can all suffer as a result of non-competes,” said Prescott. “The negative effects on wages, mobility, and job satisfaction can be substantial. In many, if not all, circumstances there are better ways to protect trade secrets than non-competes, which often just limit fair competition.”

Veeva filed suit against three companies, Medidata, QuintilesIMS, and Sparta, for using illegal provisions in their employment agreements, including post-termination non-competes and overly broad confidentiality and non-disparagement clauses. All of these provisions make it harder, if not impossible, for employees to change jobs and provide services to California-based employers. The suit asserts that such agreements restrict fair competition and violate California law.

“Under the law in most states, companies essentially have the power to dictate where employees can work and keep them locked in jobs,” said Peter Gassner, Veeva founder and CEO. “We are taking action because people should have the fundamental right to use their skills and experience to advance their careers as they choose without the threat of being sued.”

In addition to limiting mobility, research shows that employees in jurisdictions that enforce non-competes take lower paying jobs and make less overall. Areas without non-competes see stronger growth, greater numbers of new business start-ups, and patents filed. 2

“Non-competes are meant to strike fear in employees and discourage competition,” said Alan Hyde, Rutgers University law professor who has extensively studied the impact of non-competes. “It’s clear that the free flow of ideas and employees from company to company can be a factor for new businesses and innovation. This case could help limit practices that are clearly bad for employees and bad for the economy.”

“I’m thrilled to see broad action being taken to curb these unfair agreements. All workers should have the liberty to move between jobs and be free to compete,” said Orly Lobel, a professor of employment and labor law at the University of San Diego and the author of Talent Wants to Be Free. “Confidentiality and non-disparagement clauses can be as big a constraint as non-competes. Our research shows that these anti-competitive practices can hurt employee performance, reduce company innovation, and hinder the economy.”

Non-compete agreements have long been banned in California. A double standard exists where companies outside the state can hire freely from California companies while, at the same time, use non-competes to stop their employees from joining California companies.

A recent study co-authored by Mariko Sakakibara, professor of strategy at UCLA Anderson School of Management, evaluated groups of workers in states that enforce non-competes versus those that do not. 1“Our research shows that non-competes lower a person’s earnings power, not just at a point in time, but the negative impacts are seen throughout their career,” said Sakakibara. “Actions to limit the enforcement of employment practices that suppress growth and wages can be beneficial for workers.”

Veeva has taken this legal action to protect employees from abusive employment clauses and enable them to freely pursue career opportunities at Veeva. The company competes for employees on the merits of its competitive wages and benefits, work environment, and innovative services and products. It does not require employees to sign non-compete agreements and it will not let a current or past non-compete prevent it from hiring a qualified candidate.

Learn more about Veeva’s work to prevent the widespread misuse of non-compete, confidentiality, and non-disparagement agreements by visiting veeva.com/OpenOpportunity.

Additional Information

Learn more about Veeva’s work to protect employee rights: veeva.com/OpenOpportunity
Connect with Veeva on LinkedIn: www.linkedin.com/company/veeva-systems
Follow @veevasystems on Twitter: www.twitter.com/veevasystems
Like Veeva on Facebook: www.facebook.com/veevasystems

About Veeva Systems

Veeva Systems Inc. is a leader in cloud-based software for the global life sciences industry. Committed to innovation, product excellence, and customer success, Veeva has more than 525 customers, ranging from the world’s largest pharmaceutical companies to emerging biotechs. Veeva is headquartered in the San Francisco Bay Area, with offices in Europe, Asia, and Latin America. For more information, visit www.veeva.com.

Forward-looking Statements

This release contains forward-looking statements, including the market demand for and acceptance of Veeva’s products and services, the results from use of Veeva’s products and services, and general business conditions, particularly in the life sciences industry. Any forward-looking statements contained in this press release are based upon Veeva’s historical performance and its current plans, estimates, and expectations, and are not a representation that such plans, estimates, or expectations will be achieved. These forward-looking statements represent Veeva’s expectations as of the date of this press announcement. Subsequent events may cause these expectations to change, and Veeva disclaims any obligation to update the forward-looking statements in the future. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially. Additional risks and uncertainties that could affect Veeva’s financial results are included under the captions, “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” in the company’s filing on Form 10-Q for the period ended April 30, 2017. This is available on the company’s website at www.veeva.com under the Investors section and on the SEC’s website at www.sec.gov. Further information on potential risks that could affect actual results will be included in other filings Veeva makes with the SEC from time to time.

###

Contact:
Roger Villareal
Veeva Systems
925-264-8885
roger.villareal@veeva.com

Lisa Barbadora
Veeva Systems
610-420-3413
pr@veeva.com

1Starr, Evan P, Bishara, Norman and Prescott, J.J., Noncompetes in the U.S. Labor Force (July 1, 2017).
2Hyde, Alan, Should Noncompetes Be Enforced? (Winter 2010-2011).
3Balasubramanian, Natarajan, Chang, Jin Woo, Sakakibara, Mariko, Sivadasan, Jagadeesh, and Starr, Evan, Locked In? Noncompete Enforceability and the Mobility and Earnings of High-Tech Workers (January 25, 2017).




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7/18: Comcast expands IoT platform "machineQ" to 12 other cities; From high above Philly, Comcast says net neutrality advocates not “living in real world"




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Comcast to launch 'internet of things' network in Denver, 11 other cities (Denver Business Journal)


Comcast accuses net neutrality advocates of not “living in the real world” (Ars Technica)

Veeva Turns the Tables in Fight Over Tech Hiring Barriers (Bloomberg)


Amazon tanks Blue Apron’s stock with one trademark filing
(VentureBeat)
Perhaps Amazon should just buy Blue Apron.

IBM misses revenue estimate (Reuters)
Revenue from 'strategic imperatives' rose only 5%, suggesting they may not be so imperative.

As drone industry grows, a fight looms for control of the sky (app.com)


ECC set to install new computer systems that will cost $7 million (Buffalo News)


New Mountain Capital to Partner with Sparta Systems



New Mountain Capital to Partner with Sparta Systems
Growth-Focused Private Equity Firm to Fund Leading Quality Management Software Provider During Its Next Stage of Accelerated Growth

NEWS PROVIDED BY
Sparta Systems, Inc.
08:30 ET
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HAMILTON, N.J. and NEW YORK, July 17, 2017 /PRNewswire/ -- Sparta Systems Inc. ("Sparta"), a global leader in quality management system (QMS) software, today announced that it will partner with New Mountain Capital LLC ("New Mountain"), a leading growth-oriented investment firm headquartered in New York. New Mountain will acquire Sparta from Thoma Bravo, LLC ("Thoma Bravo") a leading private equity investment firm which will retain a minority stake in the company. Financial details were not disclosed. The transaction is expected to close in the third quarter of 2017, subject to usual and customary closing conditions and regulatory approvals.

New Mountain, which manages over $19 billion in assets, seeks to acquire the highest quality leaders in carefully selected growth industries, and partner with management in continued business-building. The firm identified Sparta through a proactive focus on life sciences, with a particular focus on software that enables risk management, compliance, product safety and supply chain integrity. New Mountain plans to provide Sparta with significant financial and strategic resources to support future growth initiatives.

"We have admired Sparta Systems for quite some time and are excited to begin our partnership," said Pete Masucci, Managing Director of New Mountain. "Sparta is the market leader with strong customer relationships in a large and fast growing industry. We look forward to working with Eileen and her management team to further enhance Sparta's track record of innovation, product development and market expansion."

Founded in 1994, Sparta Systems currently has close to 1 million users in more than 30 countries. The company maintains an extensive customer base in many highly-regulated industries, which includes 45 of the top 50 pharmaceutical companies, 13 of the top 15 medical device companies and leading consumer products and discrete manufacturing companies.

Sparta's product portfolio of market leading cloud and on-premise software enables manufacturers and suppliers to automate and connect quality management, regulatory management and document management processes to create safer products, improve operational visibility, ensure regulatory compliance, and improve profits. The value of Sparta's solutions is amplified as more manufacturers and suppliers leverage the technology to proactively address challenges around global regulations, supply chain complexity, business process efficiency, speed-to-market and competition. These companies become members in what Sparta terms the 'Quality Business Network.'

"We believe that New Mountain Capital is the ideal partner to support us in the next phase of our growth trajectory by investing in continuous product innovation and industry expansion," said Eileen Martinson, CEO of Sparta Systems. "I'm confident that this will enable us to advance our vision of a Quality Business Network through both organic and inorganic growth initiatives. Furthermore, I am proud of what we have achieved with Thoma Bravo over the past three years and am extremely pleased they will remain a partner on our new journey."

"Thoma Bravo is proud of our association with Sparta and the growth we've been able to accomplish together over the past three years. We are confident that the company is positioned for further success," said Scott Crabill, a Managing Partner at Thoma Bravo. "We look forward to continuing our relationship with Eileen and the rest of the Sparta team as a minority investor."

Lazard served as exclusive financial advisor to Sparta and Kirkland & Ellis LLP served as legal counsel to Thoma Bravo and Sparta. William Blair & Company served as financial advisor to New Mountain Capital. Willkie Farr & Gallagher LLP provided legal counsel to New Mountain Capital.

About Sparta Systems

Founded in 1994, Sparta Systems is the world's premier provider of cloud and on-premise quality management software. We offer the solutions, analytics, and expertise that speed up quality and compliance. Our solutions help to lower risk, increase efficiency, and keep consumers safe while allowing manufacturers, suppliers, and distributors to collaborate in a seamless and integrated environment. Sparta is privately owned and headquartered in Hamilton N.J, with offices across Europe and Asia. We support close to 1 million users across 700+ implementations, in more than 30 countries. Companies in life sciences, consumer products, discrete manufacturing and more, rely on Sparta.

For more information visit www.spartasystems.com

About New Mountain Capital

New Mountain Capital is a New York based investment firm that emphasizes business building and growth, rather than debt, as it pursues long-term capital appreciation. The firm currently manages private equity, public equity, and credit funds with over $19 billion in aggregate capital commitments. New Mountain seeks out what it believes to be the highest quality growth leaders in carefully selected industry sectors and then works intensively with management to build the value of these companies.

For more information visit www.newmountaincapital.com

About Thoma Bravo

Thoma Bravo is a leading private equity firm focused on the software and technology-enabled services sectors. With a series of funds representing more than $17 billion in capital commitments, Thoma Bravo partners with a company's management team to implement operating best practices, invest in growth initiatives and make accretive acquisitions intended to accelerate revenue and earnings, with the goal of increasing the value of the business. Representative past and present portfolio companies include industry leaders such as Blue Coat Systems, Deltek, Digital Insight, Global Healthcare Exchange, Hyland Software, PowerPlan, Qlik, Riverbed, SailPoint, SolarWinds, SonicWall, Sparta Systems and TravelClick. The firm has offices in San Francisco and Chicago.

For more information, visit www.thomabravo.com



7/17: GE Healthcare puts 'disruption' teams in Jefferson hospitals; Google Fiber Loses Chief Executive Officer After Five Months



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GE Healthcare puts 'disruption' teams in Jefferson hospitals (Philly.com)

Amazon wants to plan your dinner (Axios)
At Blue Apron's expense?

AT&T, Comcast and others sketch their support for lenient — or voluntary — net neutrality rule (Recode)
Fair writeup.

Link between Sprint and Warren Buffett is a head scratcher for Wall Street (Kansas City Star)

Google Fiber Loses Chief Executive Officer After Five Months (Bloomberg)


Netflix Spending Spree Spurs Subscriber Growth by 5 Million This Quarter (Hollywood Reporter)



This is weird: Nextdoor is asking you to give it info about your neighbors

Tom Paine




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Received this email from online community website Nextdoor, of which I'm a registered user:


Hi Tom. Do you know if xxxx xxxx lives on xxxx xxxx Rd?
Keeping Nextdoor xxxxxxxx (neighborhood) strong, safe, and happy is our top priority. Part of that means making sure members who join Nextdoor really do live in your neighborhood. Mind giving us a hand by helping verify a new neighbor?

Some may find this acceptable. I don't.

Nextdoor describes its neighbor verification testing program here.

Nextdoor, a member of the Unicorn club, has raised over $200 million. Its roughly the cyber equivalent of a gated community, though free to join. Comcast Ventures invested in its past two large rounds. You can share information about bear sightings in your hood, but naturally Nextdoor is rolling out more commercial applications.


Weekend Highlights: SAP Takes Latest Steps Amid Bribery Probe in South Africa; AT&T reported to be planning reorganization ahead of DOJ demands



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Brides left high and dry as Alfred Angelo closes all shops (Philly.com)

SAP Takes Latest Steps Amid Bribery Probe in South Africa (Fortune)

Here are the North, Central and South Jersey borders as determined by you (INTERACTIVE) (NJ.com)
From two years ago, but addresses a critical problem people have been debating for decades.

The $4.4 Trillion Man: Can Vanguard’s New Boss Keep Raking in Cash? (Bloomberg)

AT&T planning reorganization ahead of DOJ demands (NY Post)

Charles W. Bachman, Business Software Innovator, Dies at 92 (NY Times)
Received his master’s from the University of Pennsylvania.







7/13: McNabb stepping down as Vanguard CEO; Report: Roku heading for 2017 IPO



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Vanguard CEO McNabb to Step Down (Bloomberg)

Buffett, Malone explore investment in Sprint: sources (Reuters)


FanDuel and DraftKings are dropping their merger (Recode)

Internet TV company Roku hires banks for 2017 IPO (CNBC)

Exclusive: SAP Opens Probe Into South African Unit Kickback Reports (NY Times)

Uber Backers Discuss Stock Sale to SoftBank, Others (Bloomberg)


Juicero does to its staff what your hands can do to its overpriced juice sacks (The Register)
Campbells a major investor.


AstraZeneca Pops On Report CEO Won't Jump Ship For Teva Pharma (IBD)





Q2 VC funding by region

If you look closely, you'll see Philadelphia

Q2 VC funding by region




Source: PwC | CB Insights MoneyTree Report Q2 2017 via Axios Pro Rata


This under-the-radar e-commerce giant is the NBA’s new best friend (Recode)
On Michal Rubin's Fanatics Inc.

Another Mega Deal Lost
(Multichannel News)
FBN says Verizon is not pursuing Disney, but Gasparino hints entertainment giant likely in play.

SAP wants to bridge the gap between IoT and business data (TechCrunch)

IBM’s Watson, Despite Hype, Outgunned in A.I., Says Jefferies (Barron's Tech Trader Daily)




7/11: Philly start-up targets 'Wild West' of online advertising; EQT to acquire Princeton pharmaceutical services firm Certara



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Philly start-up targets 'Wild West' of online advertising (Philly Deals)

EQT to acquire pharmaceutical services firm Certara (Reuters)

Oracle, Amazon, Google, and Salesforce finally agree on something (The Register)

Workday to open up cloud platform, enters PaaS fray (ZDNet)

MetroCast buy pricey but ‘makes sense’ for Cogeco, which needs to get out of Canada, analyst says (FierceCable)

FanDuel is weighing whether to drop its merger with DraftKings (Recode)