Friday, May 17 2013 7:16 PM EDT2013-05-17 23:16:53 GMT
One person has died in a crash near Harrisonville, MO, Thursday evening. The crash happened on Missouri Highway 7 and Walker Road. It involved a car and a tractor-trailer. Harrisonville is in Cass County.More >>
Savannah Nash celebrated her 16th birthday last week. She died Thursday when her car slammed into a semi while she was texting during her first time driving by herself.More >>
Saturday, May 18 2013 11:19 PM EDT2013-05-19 03:19:44 GMT
The Charlotte Bobcats are in the process of changing their name to "Hornets," a source with knowledge of the situation told CBSSports.com's Will Brinson, including arranging digital assets that wouldMore >>
The Charlotte Bobcats are in the process of changing their name to "Hornets," a source with knowledge of the situation told CBSSports.com's Will Brinson, including arranging digital assets that would allow a return to their original nickname.More >>
Sunday, May 19 2013 7:59 AM EDT2013-05-19 11:59:01 GMT
Health officials are worried cases from a salmonella outbreak traced to a Fayetteville hotel may have spread nationwide. Officials say that 51 people who ate at the Holiday Inn Bordeaux's banquet facilitiesMore >>
Health officials are worried cases from a salmonella outbreak traced to a Fayetteville hotel may have spread nationwide.More >>
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SOURCE Ideiasnet S.A.
RIO DE JANEIRO, March 6, 2013 /PRNewswire/ -- Ideiasnet announces the acquisition by Paul Capital of an 18.2% share in 'Ideiasnet FIP I' which holds stakes in 6 of Ideiasnet's 11 invested companies. The transaction values the fund at R$ 435 million and generates proceeds to Ideiasnet of R$ 79 million.
"We have been tracking the development of Ideiasnet and its portfolio companies since 2009 and we strongly believe in Ideiasnet management's ability to capture significant additional value from the existing portfolio over the next 3-4 years" says Brian Sullivan, partner of Paul Capital in New York City.
Proceeds from the transaction will allow Ideiasnet to conclude a capital increase in portfolio company Padtec together with BNDES as well as accelerate its strategy of launching a new generation of growth equity funds focused on technology related companies in Brazil.
"This is thetwelfth consecutive portfolio transaction executed by the current Ideiasnet management team and implies an Internal Rate of Return (IRR) of 46% for the fund. This secondary purchase demonstrates an innovative liquidity option for mature, well-managed venture capital funds in Brazil" says Sami Haddad CEO of Ideiasnet.
About Paul Capital: a U.S. based Private Equity investment group that has been acquiring private equity assets through the secondary market for over 20 years. Since the firm's inception in 1991, they have completed more than 150 secondary market acquisitions. The firm currently manages over US$5 billion in aggregate commitments. It is currently investing from Paul Capital Partners IX, L.P., a US$1.65 billion fund focused exclusively on acquiring private equity portfolios in transactions such as this one.
About Ideiasnet FIP I: the fund holds Ideiasnet's participation in its 6 major investments, namely: Officer, Brazil's largest IT distributor; Padtec, a manufacturer of optical communications systems; EAX, a leading Brazilian e-commerce enabler; Tectotal, a provider of IT Value Added Services; Pini, a leading content provider for civil construction and Batanga, a US and Latam digital media company.
Ideiasnet (IDNT3:BZ) is a Brazilian venture capital firm that invests in fast growing technology companies in the areas of Digital Commerce, Digital Media, SaaS, Mobile, Health and Education.