Cox acquires mobile app Experience, which adds Phillies to client roster
Tom Paine
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Cox Enterprises, parent of Cox Communications (Cox Cable), the Atlanta Journal Constitution and several ecommerce businesses, has acquired Experience, an Atlanta-based provider of a mobile app that enables fans to purchase seat upgrades at games and events, and buy and sell tickets with season ticket holders. The app, which uses iBeacon technology for iOS users, also offers other features intended to enhance the spectator experience. The price was reported to be in excess of $200 million.
Experience was launched by Atlanta serial entrepreneur Tripp Rackley with the support of his unusual venture relationship with Cox. Rackley, who sits on Cox's board, has a $250 million fund from Cox dedicated to his venture activities.
It has relationships with over 170 professional and collegiate teams, as well as several live event brands. Teams it partners with include the Braves, Falcons, Orlando Magic, Dallas Cowboys, and the University of Alabama.
Experience has a partnership with MLB Advanced Media, and recently added the Phillies to its client roster, a company source tells me (confirmed by this tweet:)
Experience adds its 19th @MLB partner: @Phillies! Download the app to Upgrade today: http://t.co/qO3X8dvK97 pic.twitter.com/CMfE8DpkUi
— EXPERIENCE (@ExpApp) September 8, 2014
Life after Larry may be coming, but it’s not here yet for Oracle
(Diginomica)
Oracle earnings: 62 cents per share, ex-items, vs. expected EPS of 64 cents (CNBC)
SAP CEO Says Concur Purchase Is `Growth Move' (Bloomberg Video)
SAP $8.3 Billion Concur Buy Caps Pricey Cloud Push (Information Week)
Alibaba Is Already Bigger Than Facebook, Amazon, and IBM (Wired)
Margaret Walson, Co-Founder of Service Electric Cable TV, Dies (Multichannel News)
Links 9/18/2014: Ellison to step down as CEO, but he'll still be there; SAP to buy Concur for $7.4 billion
Tom Paine
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Larry Ellison Will Step Down as CEO of Oracle (Re/code)
But he's still very much there.
SAP to Acquire Concur, Expanding the World’s Largest Business Network (SAP Press Release)
SAP to Buy Concur for $7.4 Billion to Boost Cloud Sales (Bloomberg)
Netsuite Slams Rival SAP in Newspaper Ad (Re/code)
”Great ERP, worse PLM” – What SAP PLM needs to sharpen its competitive edge (Engineering)
Qlik courts the business manager with easier analytics (PC World)
Walter Isaacson on the women of ENIAC (Fortune)
Comcast CEO "Cautiously Optimistic" on Approval for Time Warner Cable Acquisition
(Hollywood Reporter)
Rally at Comcast building opposes cable merger (Philadelphia Inquirer)
Actua (formerly ICG Group) to buy Edison Partners-backed FolioDynamix for $199 million
Tom Paine
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Radnor-based Actua (Nasdaq: ACTA), which earlier this month announced it was changing its name from ICG Group (I missed the memo), yesterday said it had agreed to acquire 97% of FolioDynamix, a New York cloud-based investment and wealth management platform, for about $199 million.
FolioDynamix "offers wealth service providers and investment advisors a comprehensive, secure, cloud-based wealth management technology platform and advisory solutions for managing the full wealth management lifecycle across all account types, including unified managed account (UMA) and unified managed household (UMH) programs. The company delivers comprehensive solutions to financial advisors, professionals and institutions", Actua said in a release.
Actua says FolioDynamix has a revenue run rate of over $30 million a year with positive cash flow and earnings, and is growing over 40% a year.
Lawrenceville, NJ-based Edison Partners was a major investor in FolioDynamix, investing $7.5 million in 2008 and participated in a $16 million round in 2011. PE Hub reported in May that FolioDynamix was looking for a buyer.
The rebranded Actua is focused on a vertical cloud strategy. Originally an offspring of
Safeguard Scientifics named Internet Capital Group, it has operated in a somewhat similar manner as a publicly traded venture capital portfolio although it may be becoming more of an operating company.
Update: Edison says it got 6x its investment back on FolioDynamix.
Business Analytics Company RJMetrics Raises $16.5M Round Led By August Capital (TechCrunch)
Exclusive: New Jersey unloads investment related to Charlie Baker 'pay-to-play' allegations (Fortune)
Comcast: Report On 'Tor' Policy ‘Wildly Inaccurate’
(Multichannel News)
Salesforce.com CEO Leaks Analytics Cloud Plan (Information Week)
SAP CFO Says Cloud Deals to Outpace Traditional Software by 2020 (Bloomberg)
eBay Enterprise teams with FICO for commerce marketing platform
(EBay Enterprise)
Philly Tech People News 9/13/2014
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Comcast Hires TWC Exec to Oversee Transaction Compliance (Multichannel News)
Relay Bolsters Management Team With Addition of Graham Barry as CTO (Globe Newswire)
Quintiq appoints new Vice President of Supply Chain Solutions (Supply Chain Digital)
Select Greater Philadelphia names new leader
(Philadelphia Business Journal)
Apple CEO Tim Cook says television is “stuck in the ’70s” (Quartz)
Lawyer: Tourism agency acted properly in fund flap (Philadelphia Inquirer)
Neat. Agency sets its own rules, laws.
Links 9/12/2014: Report: Weather Channel PE owners considering sale
Voice Marketing Company Ifbyphone Raises $30M More, Acquires Competitor Mongoose Metrics (TechCrunch)
NewSpring Capital joins existing investors.
Weather Channel Talks to Banks on Options Including Sale (Bloomberg)
Interestingly, the article says nothing about what Comcast's (owns about 1/3 through NBCU) interests might be. Comcast's recent attitude towards joint ventures it is part of has either been to sell or buy the whole thing.
AT&T Eyes Late 2015 to Launch DirecTV, High-Speed Wireless Broadband Bundle (Variety)
Salesforce appears to be prepping a cloud-based analytics service (VentureBeat)
Why are private clouds failing? (Thomas Bittman/Gartner Blogs)`
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