Today in Philly Tech History 2/14/2012: Capital One's $9 billion acquisition of Wilmington-based ING Direct USA gets Fed approval

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Five years ago, on February 14, 2012, Capital One's $9 billion acquisition of Wilmington-based Internet bank ING Direct USA won approval from the Federal Reserve, clearing the way for the deal to close within a few days.

The deal, announced in June 2011, featured a Wilmington-bred success story although its parent, Netherlands-based ING Groep NV, had to auction it off to satisfy European banking regulators. ING Direct USA added $80 billion in deposits and 7 million customers to Capital One.

ING Diect's loyal customer base was concerned about how Capital One would change its newly acquired bank. Indeed, some of those changes were just implemented, as ING Direct has been renamed Capital One 360, and ING Direct's famous orange logo was taken down early this month and driven away and replaced with a spiffy new Capital One sign on the headquarters building in downtown Wilmington.




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Five leading banks, Safeguard Scientifics invest in $30 million Series E in Transactis

Tom Paine

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Today, Transactis announced that 5 major banks, Capital One, Fifth Third, PNC, TD, and Wells Fargo, along with Radnor-based Safeguard Scientifics, had participated in a $30 million financing as part of a Series E round into the New York-based company, a provider of electronic billing and payment solutions.

Each bank, along with Safeguard, invested an equal amount in Transactis as part of the Series E financing. Transactis has now raised $70 million, including this financing.

Safeguard led Transactis’ Series D financing in August 2014.

Transactis says it reaches more than 100M households and businesses in North America.

Daily Links 1/20/2012: Verizon, Comcast Send Marketing Deals to FCC in Spectrum Review

Verizon, Comcast Send Marketing Deals to FCC in Airwaves Review (Bloomberg)
FCC Docket: Verizon Wireless and SpectrumCo, Verizon Wireless and Cox

Comcast Challenges FCC's Program Carriage Ruling That Landed in Tennis Channel's Court (Multichannel News)


Audrey Zibelman's Energy-Saving Software
Her startup Viridity Energy makes software used by buildings and factories to manage their power use. It also lets them sell energy back to the grid (Bloomberg Business Week)

Philadelphia-based online ticketing service TicketLeap’s beginnings couldn’t have been more humble (Ben Franklin Technology Partners SEP: KEYnotes)

After Laying Off 60 People, RueLaLa Raises $22 Million (TechCrunch)
Boston-based RueLaLa is part of Michael Rubin's Kynetic LLC holding company.

Update: RueLaLa says filing is about options, not new funding (Mass High Tech)

Salesforce's happy workforce
(Fortune Tech)

SAP Acquires Datango's Software, Entering Enterprise Training Race
Now SAP faces the huge task of convincing the jaded enterprise training market to invest in training. (Information Week)

ING Direct deal should close soon, Capital One says (Wilmington News Journal: Delaware Inc.)



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Daily Links 9/26/2011: InterDigital sinks on reports of lower than expected bids

Interdigital Swoons; Report Bids Well Below Street Hopes (Forbes)

InterDigital Swoons on Report of Meek Deal Bids (Wall Street Journal: Deal Journal)

Amazon guns for Netflix, adds 2,000 Fox streaming titles (Gigaom)

Dish ‘Could’ Buy, Partner With Wireless Company, CEO Says (Bloomberg)
Sprint Nextel, Clearwire could be possibilities.

Hispanic TV Summit: Comcast's Gonzalez Says Change Will Come To Hispanic Lineup
Content Director Tells Hispanic Programmers Top MSO's Lineup Isn't 'Static' (Multichannel News)

FCC: Cablevision/MSG Network Violated Program-Access Rules
Says withholding of HD versions of MSG, MSG-Plus hinders competition (Broadcasting & Cable)

Sungard to Unveil Retail Mobile Banking Platform by Yearend (Bank Innovation)
Not for US market, though.

Capital One hiring 500 in Delaware, getting millions in incentives (Philadelphia Business Journal)


Ben Franklin Technology Partners Seeking Applications From Startup Companies To Take Part In Project Liberty Digital Incubator (Press Release)
Applications due October 14.

Oracle May Buy Industry-Specific Software Makers, Hurd Says (Bloomberg)


Wave Systems acquires data loss protection co Safend for $12.8m
$21 million was invested in the company. (Globes)

Minority Entrepreneur Accelerator Program Kicks Off in Philadelphia (Comcast Voices|Official Comcast Blog)

Temple U. gets federal tech grant (Philadelphia Business Journal)



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Daily Links 6/16/2011: Philly Fed Index drops; Capital One reported winner of Wilmington's ING Direct

Ernst & Young Entrepreneur Of The Year 2011 Greater Philadelphia Award Winners Announced (Business Wire)

June Philly Fed index drops into negative level (MarketWatch)
Not a good sign.

Philly Fed factory activity lowest level in 2 years (Reuters)
Philly Fed Press Release

Churchill Club podcast: Venture capital roundtable 2011 (ZDNet Blogs)
First Round Capital's Josh Kopelman was on the panel. Very interesting listen.

Capital One Near Takeover of ING Direct USA (Bloomberg)
Update: deal reported to be reached.

Providence Equity Partners Is Said to Be Leading Bidder to Buy Blackboard (Bloomberg)
Some analysts had suggested that SunGard, through its SunGard Higher Ed unit, might have been a possible bidder. (Although its worth pointing out that Providence Equity was a major investor in SunGard's LBO.)


WPCS agrees to be bought by DirecTV installer Multiband (Philadelphia Business Journal)

Alan Haberman, Who Ushered In the Bar Code, Dies at 81 (New York Times)
Implemented technology that had been pioneered earlier at Drexel.


WCI Consulting Expands to Philadelphia
Business Intelligence Provider Establishes East Coast Presence (Business Wire)



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