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

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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

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

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

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

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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

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

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.


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

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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

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

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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

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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

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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.

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

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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

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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

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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

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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

Amazon Could Be Targeting Pharmacy Delivery Business (IBD)

9/19: Comcast Spectacor bringing professional lacrosse back to Philadelphia; How Toys ‘R’ Us Collapsed So Quickly

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T-Mobile and Sprint are in active talks about a merger

Comcast Spectacor bringing professional lacrosse back to Philadelphia (CSN PHILLY)

Comcast puts its OTT play Watchable on life support (Digiday)

How Toys ‘R’ Us Collapsed So Quickly

Oracle’s latest jab at AWS: new cloud pricing schemes (VentureBeat)

Charter picketed by 10,000, plus NY Gov. Cuomo, as strike approaches 6-month mark

Synchronoss Plunges As Proposed Takeover By Equity Firm Stalls (IBD)

Johnson & Johnson acquires subscription-based contact lens startup Sightbox

Patron Technology Established as Parent Company of PatronManager, ShowClix; Announces First Acquisition of Ticketleap

Patron Technology Established as Parent Company of PatronManager, ShowClix
Announces First Acquisition of Ticketleap
Sponsored by Providence Strategic Growth, Platform Well-Positioned for Continued Success and Expansion

September 18, 2017 10:00 AM Eastern Daylight Time
NEW YORK--(BUSINESS WIRE)--Patron Technology, formerly the name of the producer of PatronManager, has been established as a new parent company for the brands of PatronManager, the fastest growing ticketing and CRM platform for arts & culture organizations in the U.S., and ShowClix, the leading cloud-based provider of full-service event ticketing. With the combined knowledge, tools, and passion of premier event ticketing and technology companies, Patron Technology enables its customers to create deeper and more profitable relationships with their ticket buyers, fans, and supporters.

Patron Technology will be led by CEO Eugene Carr and CFO Anupam Palit, both of whom will retain their identical titles at PatronManager. Brian Arnone will serve as CRO of Patron Technology and retain his title of President & COO of ShowClix. Patron Technology is a portfolio company of Providence Strategic Growth (“PSG”), the growth equity affiliate of Providence Equity, a global private equity firm with more than $50 billion in assets under management.

Additionally, Patron Technology has announced its first acquisition in Ticketleap, a leading self-service ticketing platform. Ticketleap will operate independently under Patron Technology and will be led by General Manager Chrisse Dragon.

“Patron Technology drives momentum across the digital ticketing industry,” said Mr. Carr. “The approach of aligning complementary platforms provides each company the ability to focus on growth within each of their key industry segments while continuing to foster their clients’ development of stronger relationships with their patrons. We are excited about our new structure, our new partners, and our unwavering support from Providence, and believe that all of these elements will only accelerate our success.”

“Patron Technology serves as the ideal platform for Ticketleap to accelerate its position in the marketplace and continue to build on its strong customer relationships,” said Ms. Dragon. “We look forward to our continued growth in the DIY ticketing business and pursuing this unique opportunity to work alongside leading companies such as ShowClix and PatronManager.”

"Patron Technology's product suite empowers venues and event organizers to manage experiences across various customer interactions, including ticketing, CRM, social media engagement, and in-event experience itself,” said Gopi Vaddi, Managing Director at Providence Strategic Growth. “We will continue to actively engage with Patron Technology's leadership team to drive and capitalize on the significant disruption within the various sectors of this market."

Mr. Arnone added, “Patron Technology’s curated approach supports the key target verticals for each organization within our new structure. This dynamic translates directly to increased sales on all ticketing platforms, putting us in a leading position across the entire industry.”

About Patron Technology (www.patrontechnology.com)

Patron Technology provides innovative and industry-leading technology that enables its customers to create deeper and more profitable relationships with their ticket buyers, fans, and supporters. Under the investment umbrella of PSG, Patron Technology is actively engaged in building out a broader platform that addresses other sectors of the broader ticketing & CRM market in the U.S. and abroad.

About Ticketleap (www.ticketleap.com)

Ticketleap is an online DIY ticket sales and event marking company based in Philadelphia, Pennsylvania. The company has a strongly held belief that companies and teams that really "get social" are those that make it a point to build relationships the old fashioned way: in person. One of the best ways to do that is through events. For over 10 years the company has helped event creators sell over 30 million tickets to various events by providing DIY box office solutions to customers across the United States, Canada, Australia, Germany, Ireland, Italy, Mexico, New Zealand, Spain, and the United Kingdom.

About PatronManager (www.patronmanager.com)

PatronManager’s mission is to revolutionize the ticketing industry by providing arts, culture, and live entertainment organizations with integrated world-class customer relationship management, box office ticketing, fundraising, and marketing solutions. Patron’s founder and CEO is Eugene Carr, a cellist who trained professionally at the Oberlin Conservatory and The Juilliard School, and subsequently served as the Executive Director of the American Symphony Orchestra and in management positions at American Express. Mr. Carr is an entrepreneur whose first technology company was the groundbreaking national arts listing and ticketing site Culturefinder.com, backed by AOL and Comcast. Today, the PatronManager solution is an integrated box office, ticketing, marketing, and development system built entirely on the world’s most advanced cloud-based CRM platform – Salesforce.com. PatronManager is used by over 700 organizations in the U.S. and Canada, including symphony orchestras, theatres, opera companies, dance companies, university performing arts centers, and museums.

About ShowClix (www.showclix.com)

ShowClix, Inc. provides full-service event ticketing and access control solutions to professional event organizers around the world. Founded in 2007, ShowClix is dedicated to enhancing its cloud-based software with dedicated account managers, an in-house call center, and experienced on-site teams. The platform, which can be tailored for any event, aims to help professionals sell more tickets and create memorable experiences for their customers. For more information on ShowClix, visit showclix.com/ticketing.

About Providence Strategic Growth (www.provequity.com/private-equity/psg)

Providence Strategic Growth Capital Partners L.L.C. (“PSG”) is an affiliate of Providence Equity Partners L.L.C (“Providence”). Established in 2014, PSG focuses on growth equity investments in lower middle market software and technology-enabled service companies, primarily in North America. Providence is a premier, global asset management firm with $50 billion in capital under management across complementary private equity and credit businesses. For more information on PSG, visit provequity.com/private-equity/psg and for more information on Providence Equity, please visit provequity.com.

9/18: Fidelity robo with eMoney now available; NewSpring backs more local growth companies

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Fidelity robo now available to platform users (Investment News)
The AMP digital offering integrates with eMoney tools.

NewSpring backs more local growth companies (Philly.com: Philly Deals)

Infosys steps up US hiring as more top talent flees (ZDNet)

Roku aims to raise $252 million with IPO

If Disney Builds a Streaming Service, Will They Come? (Knowledge@Wharton)

TECH TRADER DAILY Universal Display: Blue Is the Color of Game Change, Says Goldman
"Universal Display, which supplies technology for so-called OLED screens on smartphones, seems to be getting closer to commercial availability for its technology for the blue color, says Brian Lee of Goldman Sachs, which could be a "game changer" for Universal, prompting Lee to raise his price target on the stock to $161."

SoFi says still moving ahead in Delaware (Update 10/5)

Tom Paine

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With the recent news out of online lender SoFi ( SoFi Board Says C.E.O. Is Out Immediately Amid Sexual Harassment Scandal), reports have raised questions not only concerning executives' personal behavior, but some of SoFi's business practices as well. Although SoFi is privately held, the information it has released about its finances suggests its performing well to date.

SoFi, founded in 2011, is valued at more than $4 billion and has raised $1.9 billion from venture investors, including Baseline Ventures, Discovery Capital and SoftBank.

But what about its plans for Delaware? SoFi closed Zenbanx, the Claymont-based online banking provider founded by ING Direct USA founder Arkadi Kuhlmann, in August after acquiring it in February for about $100 million. Zenbanx had a partnership with Wilmington Savings Fund Society (WSFS) that expired in July and, rather than renew it or find another partner, the company decided to just close existing accounts. SoFi has applied for its own banking charter, which is still pending. In June, SoFi said it would add 400 workers in Claymont by the end of 2018.

Jim Prosser, SoFi VP of Communications and Policy, told me by email that its expansion plans for Delaware haven't changed.

"We wound down the Zenbanx product, but retained most of the staff and are building on top of their technology to bring our banking products to market. Our plans for Delaware remain exactly the same as we said in July, and we're actively hiring. You can check out the open roles here: https://www.sofi.com/careers/. (Note that each role may have multiple openings. We're hiring way more than one customer service rep, for instance!)"

Update 9/25:

Update 10/5:
Reuters: SoFi's CEO hiatus stalls its big-time banking ambitions

Explains why bank charter is so critical to SoFi's plans.

10/13: But not so critical that SoFi can't drop it: SoFi Withdraws U.S. Banking Application, Citing Leadership Change (Fortune)

9/15: Amazon Is Coming for Your Cable Channels; Verizon Readies Its Own Content Deal After T-Mobile’s Free Netflix

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Amazon Is Hungry and It’s Coming for Your Cable Channels (CLAIRE ATKINSON / NBC News)

Verizon Readies Its Own Content Deal After T-Mobile’s Free Netflix (Fortune)

Hurricane Irma took 7 million cable and wireline subscribers offline
(Ars Technica)

Oracle's stock sees its worst day in 4 years as a weak earnings forecast gets punished on Wall Street (CNBC)

Pittsburgh turns to Boston firm (BCG) for help in selling Steel City as a good Amazon HQ2 location (GeekWire)

The three sites Philly is pitching to Amazon (Philly.com)

How an Amazon HQ might change how Philly operates (Philly.com)

Online Lenders Gain Traction By Partnering With Incumbents

9/14: Suburban Philadelphia office market bouncing back from slowdown; Cornerstone OnDemand hires advisers to explore a sale

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Who are the right partners to get you into more smart homes?
Comcast's take.

How to stop Facebook and Apple taking over the mobile phone industry (The Register)

Suburban Philadelphia office market bouncing back from slowdown (Delco Times)

Indians in the U.S. Fact Sheet (Pew Research Center)
Philadelphia has the ninth largest concentration of Indian-Americans, per Pew.

Amtrak debuts new marketing campaign amid years of flat ridership levels (CNBC)

Oracle Floats Near Record High As It Prepares Quarterly Earnings (IBD)

Oracle shares rise after earnings, revenue beat estimates (CNBC)

Oracle’s Larry Ellison takes aim at Amazon Web Services, promises a new “self-driving” database (GeekWire)

AWS: Don't be a SAP, get one of our massive HANA boxes
(The Register)

Cornerstone OnDemand hires advisers to explore a sale (Fortune)

Wisconsin state legislature signs off on $3 billion Foxconn incentive package (VentureBeat)
What will be the price tag of the Amazon incentive package?

9/13: Ewing NJ-based Universal Display now worth more than $6 billion; supplies OLED material & IP for new iPhoneX

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The investor behind startups with billion dollar exits explains how retail needs to change

Gov. Dayton says state's bid for Amazon HQ to be 'restrained' (Minneapolis Star-Tribune)
Naturally, Dayton cited the importance of local companies Target and Best Buy.

Apttus scores $55M as it closes in on an IPO (TechCrunch)

Comcast Places a Bigger Bet on Selling to Businesses

Verizon CEO Sees Decision on Online TV Service in 6 Months
(Bloomberg via Ad Age)

Why Fortune 500 Companies Are Trusting the Cloud More Than Ever (Fortune)
SAP touts S/4 Hana, without hard numbers.

Confirmed: Oracle laid off 964 people from former Sun building (The Register)

DowDuPont alters post-merger breakup plans amid investor pressure (CNBC)

Ewing NJ-based Universal Display Corporation (NASDAQ:OLED) now worth more than $6 billion; supplies OLED material & IP for new iPhoneX.

FanDuel raising new money from insiders

Population change has varied greatly in or near key office submarkets; will this affect future demand? (JLL Philadelphia)

9/12: Amazon disputes reports its eyeing Boston; Comcast's Roberts Pushes Back Against Stock Drop

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Report: Amazon considering Boston for second headquarters (Axios)

Comcast Chief Brian Roberts Pushes Back Against Stock Drop (Variety)

EHR tasks take up half of the primary care physician’s workday (Med City News)

Questions Over C.E.O.’s Conduct Cloud Social Finance, a Lending Start-Up (NY Times)
These are the guys who bought Delaware startup ZenBank.

9/11: Comcast’s machine learning app saves big dollars on truck rolls; CEO of SoFi says he will step down following sexual harassment allegations

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Comcast Is Raising Prices. Again.
(TV Answerman)

Comcast’s machine learning app saves ‘tens of millions’ of dollars in truck rolls (FierceCable)
Maybe Comcast could use truck roll savings to hold down pricing?

Comcast's Universal park in Orlando to reopen Tuesday; company assessing cable operations (Philly.com)

Meet Guru: Bringing You Knowledge Everywhere You Need It (Emergence Capital)
Emergence Capital, a leading VC in the SaaS/Cloud space, led Guru's latest round.

Where should Amazon build HQ2? We let the data decide (GeekWire)
Seattle's own tech website ranks Philly 4th.

The CEO of SoFi says he will step down following sexual harassment allegations (Recode)

Rackspace acquires Datapipe as it looks to expand its managed services business (TechCrunch)

Inside Juicero’s Demise, From Prized Startup to Fire Sale (Bloomberg)

NTSB Staff to Say Tesla Autopilot Should Share Blame for 2016 Crash (Bloomberg)

Weekend Highlights: Views on Amazon's search for Headquarters #2

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In the bidding war for Amazon, where does Philly stand? (Philly.com)

Dear Amazon: Here Are 25+ Really Good Reasons for You to Come to Philly (PhillyMag)

‘It’s never too late to say we’re sorry’: Seattle leaders respond to Amazon plans to establish second HQ outside its hometown (GeekWire)
One theory about why Amazon is looking elsewhere; If accurate it doesn't bode well for Philly, which has a somewhat similar political environment.

Why Amazon's Growth Ambitions Don't Fit in Seattle (Dow Jones)


As Amazon Pushes Forward With Robots, Workers Find New Roles (NY Times)

Attacked by Rotten Tomatoes (NY Times)
Comcast/NBC-owned property.

Accenture buys Philly's IBB, helped Comcast, Verizon go digital (Philly.com)

9/8: San Francisco firm acquires Delphic Digital; Holtec International Opens New Technology Campus In Camden

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From Philly to Tulsa, job-hungry cities line up to convince Amazon they’re the best spot for 2nd HQ (GeekWire)

Equifax stock tumbles 14% after credit score hack (TechCrunch)

San Francisco firm acquires fast-growing Philadelphia digital marketing agency (Philadelphia Business Journal)

Anexinet Hires Marketing VP For 'Aggressive' Campaign Push To Win In Key Verticals (CRN)
Trying to expand geographic footprint.

Holtec International Opens New Technology Campus In Camden (CBS Philly)

Blue Apron No. 2 Holder Capital World Investors Sells Its Stake (Bloomberg)

Today: Philly wants 2nd Amazon HQ; Guru Lands $9.3M in Latest Funding Round

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Amazon Announces Plans for Huge New North America Offices (NY Times)
Should Philly apply?

Philly wants to bring Amazon’s HQ here. But where? (Curbed Philly)

Six cities Amazon should consider for its second headquarters (GeekWire)

Guru Lands $9.3M in Latest Funding Round (PhillyMag)

Disney, Comcast shares fall on disappointing forecasts (Reuters)

Once a Running Joke, LinkedIn Is Suddenly a Hot Social Network. Here’s What Changed (Adweek)

Enterprise use of Macs about to expand ‘substantially’ (Computerworld)

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Winfrey: Charter is ‘Strategically Complete' (Multichannel News)

Comcast will lose 100K-150K video subscribers in Q3, residential products chief Strauss says (FierceCable)

Knicks Make a Winner Out of Dolan Even as TV Businesses Sour (Bloomberg)

Accenture to Acquire IBB Consulting to Expand Accenture Strategy Capabilities in Communications, Media & Technology Industry

Accenture to Acquire IBB Consulting to Expand Accenture Strategy Capabilities in Communications, Media & Technology Industry
September 06, 2017 12:14 PM Eastern Daylight Time
NEW YORK--(BUSINESS WIRE)--Accenture (NYSE: ACN) has signed an agreement to acquire IBB Consulting, a premier consulting firm that helps leading broadband and mobile operators, media companies and technology providers identify emerging industry shifts, adapt to market changes and capitalize on new business and technology opportunities. IBB Consulting will strengthen the ability of Accenture Strategy to advise clients in the Communications, Media & Technology (CMT) industries by designing business and technology strategies to create future value, drive new growth and transform operations as they seek to become fully digital businesses.

“By joining Accenture Strategy, we will combine a strong culture of collaboration with a leading client-centric workforce to bring new value to clients as they seek to capitalize on the convergence happening across their industries.”

Following completion of the acquisition, approximately 160 of IBB Consulting’s highly skilled professionals are expected to join the Accenture Strategy CMT industry practice. The majority of IBB Consulting’s workforce are based in North America, with the balance based in Australia. The acquisition will expand Accenture’s capabilities in delivering strategy services for CMT clients with pioneering strategic thinking around key industry issues such as networks, digital video and IPTV, digital transformation, next generation mobility, internet of things (IoT), M&A, cloud, advanced advertising, data analytics and insights, marketing optimization, and international growth.

“Companies across all industries are staking claims in the digital world, disrupting media, communications, high tech companies and IoT players, fueling deep competition from industry stalwarts and nimble new entrants alike,” said Mark Knickrehm, chief executive officer, Accenture Strategy. “The acquisition of IBB Consulting will enhance our ability to deliver deep, industry-specific strategies for our clients by helping them define and deliver a new breed of capabilities that drive competitiveness, reduce costs, leverage emerging technologies and expand operational excellence to put them atop the intersection of business, technology and operations.”

Founded in 2001 with headquarters in Philadelphia, IBB Consulting serves as convergence specialists to leading broadband, media, mobile and technology companies. IBB Consulting’s deep industry focus—that spans network infrastructure, software, content and devices—enables global clients to pioneer new products and services, develop innovative business models and successfully execute business operations.

“Our goal has always been to help clients innovate rapidly with a full lifecycle project approach, from ideation to execution,” said Dr. Imran Shah, co-founder and managing partner of IBB Consulting. “By joining Accenture Strategy, we will combine a strong culture of collaboration with a leading client-centric workforce to bring new value to clients as they seek to capitalize on the convergence happening across their industries.”

Completion of the acquisition is subject to customary closing conditions. Terms of the deal were not disclosed.

About Accenture

Accenture is a leading global professional services company, providing a broad range of services and solutions in strategy, consulting, digital, technology and operations. Combining unmatched experience and specialized skills across more than 40 industries and all business functions – underpinned by the world’s largest delivery network – Accenture works at the intersection of business and technology to help clients improve their performance and create sustainable value for their stakeholders. With approximately 411,000 people serving clients in more than 120 countries, Accenture drives innovation to improve the way the world works and lives. Visit us at www.accenture.com.

Accenture Strategy operates at the intersection of business and technology. We bring together our capabilities in business, technology, operations and function strategy to help our clients envision and execute industry-specific strategies that support enterprise wide transformation. Our focus on issues related to digital disruption, competitiveness, global operating models, talent and leadership help drive both efficiencies and growth. For more information, follow @AccentureStrat or visit www.accenture.com/strategy.

About IBB Consulting

IBB Consulting is a premier consulting firm serving top companies in wireless and mobility, broadband and media. Founded in 2001, IBB Consulting’s team of senior industry experts leverages its extensive business planning, strategy, technology and execution experience to help clients pioneer new products and services, develop innovative business models, and successfully execute business operations. IBB Consulting has worked with leading companies to conceive and grow some of the most significant strategic, marketing and operational and technology initiatives in the industry. The firm is based in Philadelphia. More information about IBB is available at www.ibbconsulting.com.