Author: Luisa Beltran

Ubitus said Monday it had raised more than $15 million cash from multiple leading investors including Samsung Venture Investment Corp. Ubitus, of Taipei, Taiwan, provides cloud gaming solutions.

PRESS RELEASE

TAIPEI, Taiwan, May 13, 2013 /PRNewswire/ — Ubitus Inc., the worldwide technology leader in cloud gaming solutions, today announced it has raised over $15 million cash from multiple international leading investors including Samsung Venture Investment Corporation (Samsung Ventures) for further spearheading the push of cloud gaming to next level.
Since its first cloud gaming deployment in Japan in September 2011, Ubitus had been leading the global market in deploying commercial cloud gaming services with top-tier carriers and OEMs spanning across the United States, Japan, South Korea and China (including Hong Kong).
Backed by the solid market-proven track records, the new round funding led by Samsung Ventures, the venture capital arm of the Samsung Group with mandate to invest in companies that are closely tied to the overall strategy of Samsung Group, will further support Ubitus’ determined endeavor in advancing the cloud gaming to an unprecedented level especially in the TV market.
“We are delighted that leading investors like Samsung Ventures shares Ubitus’ conviction that making video games playing as accessible as the movie and music streaming services nowadays can forever change the way people enjoy games in the past 20 years,” said Wesley Kuo , CEO of Ubitus.
Going forward, with the new investment garnered, Ubitus is committed to take cloud gaming to next level by building new gaming experiences with more instant and social features that are expected to roll out in Q3 this year.
About Ubitus Inc.
Ubitus Inc., the technology leader in deploying cloud-enabled rich media services, offers innovative cloud computing solutions for device manufacturers, wired/wireless communication service providers, telecommunication operators and digital content developers. Founded in 2007 and headquartered in Taipei, Taiwan, the company now has over 200 employees and offices in United States, Japan, Korea and China.
About Samsung Venture Investment Corporation
Samsung Venture Investment Corporation manages investment and investment-related activities for Samsung affiliate companies. The investment mandate for Samsung Venture Investment Corporation tracks closely to the strategic priorities of Samsung affiliate companies’ core operating divisions, and encompasses investments in semiconductors, displays, telecommunications, and consumer electronics.

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BBVA Ventures will invest in the San Francisco-based Radius, a provider of sales and marketing data for the small business market. BBVA Ventures is the corporate venture division of BBVA Group. Financial terms were not disclosed.

PRESS RELEASE

SAN FRANCISCO, May 13, 2013 /PRNewswire/ — BBVA Ventures, the BBVA Group’s Silicon Valley-based corporate venture arm, announced last week that it will invest in Radius, a leading provider of sales and marketing intelligence for targeting the small business market.
BBVA’s investment in Radius aligns with the Group’s commitment to innovation and provides a foundation for BBVA and Radius to work closely together to leverage the Radius technology platform. Since its inception, BBVA Ventures has closely worked with entrepreneurs and venture capital investors to broaden the bank’s understanding of emerging trends, helping advance innovative initiatives in banking and finance.
Today, Radius provides key tools and data on small businesses across the United States. BBVA will seek not only to leverage Radius’ technology and comprehensive index on small business in the U.S. market, but also to explore strategic opportunities for international expansion of the Radius platform.
“Having worked closely with Radius, we see their technology as a key driver and enabler for enhancing our success with small businesses in the international markets where BBVA is present. BBVA is an active Small Business Lender and our ability to pinpoint and track the success and health of small business relies on the integrity and cleanliness of data available to us, which Radius provides via an innovative set of data on small businesses that allows us the ability to understand our customers better while also discovering new customer opportunities through social insight,” said Thomas Whiteaker , executive director, corporate development and strategy at BBVA.
“Having BBVA invest in Radius is a testament to our reach and data integrity. Given the bank’s strong leadership in the Small Business space and international presence, they are exactly the kind of partner we look for. It makes sense that they would want to ensure the data they need to make key investment decisions is accurate and up-to-date. Radius does that and more,” said Darian Shirazi , founder and CEO of Radius.
Earlier this year BBVA announced the creation of BBVA Ventures, a strategic initiative that will invest $100 million in startups looking to transform the financial services industry. The bank completed its first investment in Silicon Valley in early 2012 in the seed-capital fund and incubator 500 Startups Fund. More recently, BBVA completed investments in SaveUp and Ribbit Capital.
BBVA Group has been investing in innovation and technology for some time in order to anticipate the deep transformation under way in the financial industry. This transformation is already taking place with the development of new digital channels and means of payment that are generating new customer relationship models. Against this backdrop, BBVA’s firm commitment to new technologies through enterprises such as BBVA Ventures makes it one of the few banks ready to tackle the changes and compete in the market.

For more financial information about BBVA visit:

http://shareholdersandinvestors.bbva.com

For more BBVA news visit: http://press.bbva.com/
About BBVA
BBVA is a customer-centric global financial services group founded in 1857. The Group has a solid position in Spain, it is the largest financial institution in Mexico and it has leading franchises in South America and the Sunbelt Region of the United States. Its diversified business is biased to high-growth markets and it relies on technology as a key sustainable competitive advantage. BBVA ranks among the leading Euro zone banks in terms of ROE and efficiency. Corporate responsibility is at the core of its business model. BBVA fosters financial education and inclusion, and supports scientific research and culture. It operates with the highest integrity, a long-term vision and applies the best practices. The Group is present in the main sustainability indexes.
About Radius
Radius (http://www.radiusintel.com/) is a leading provider of sales and marketing intelligence and allows marketers and sales teams to reach small businesses. Based in San Francisco, the company provides a comprehensive index of insights and data associated with more than 20 million small businesses in the U.S. Radius’ technology collects and monitors data from hundreds of thousands of online and social sources. The easy-to-use dashboard allows salespeople to discover new prospects, prioritize leads and synchronize data.

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A consortium comprising China’s CITIC Capital and Singapore state investor Temasek Holdings is set to buy U.S.-listed Asiainfo-Linkage Inc for about $900 million, Reuters is reporting.

(Reuters) – A consortium comprising China’s CITIC Capital and Singapore state investor Temasek Holdings is set to buy U.S.-listed Asiainfo-Linkage Inc for about $900 million, people familiar with matter told Reuters on Monday.
An announcement is expected in the next few hours, the people said, putting an end to a 16-month process that started with CITIC Capital making its first offer to buy the China-based software and IT company.

The final offer is expected to be $12 per share, 2.8 percent above Asiainfo’s last traded price of $11.68 on Friday.

The price would be the same as CITIC Capital’s initial bid in January 2012.

Citic Capital and Asiainfo-Linkage did not respond to phone calls after business hours requesting comment on the takeover bid.

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Georg von Hammerstein has joined Patron Capital Partners as a senior advisor. He will be working with Patron’s existing investment teams and focusing on new investments in Germany and the German speaking countries. Most recently, Hammerstein was the European Chief Investment Officer of Pramerica Real Estate Investors.

PRESS RELEASE

LONDON–(BUSINESS WIRE)–Patron Capital Partners (“Patron”), the pan European private equity and real estate investor representing over €2.5bn of equity capital, is pleased to announce that Georg von Hammerstein has joined Patron as a Senior Adviser with immediate effect. Georg will be working with Patron’s existing investment teams and focusing on new investments in Germany and the German speaking countries.
Following the final close of Patron’s Fund IV, announced in September 2012, Patron has already allocated approximately half of the €1bn of equity capital raised (including discretionary co-investment capital). Germany represents a core market for Patron, with approximately 560,000 sq m of land and buildings currently under management and the Company intends to invest in over €1bn of assets there in the next two years.
Georg has 25 years of experience in the German and European real estate markets, working in senior positions across most risk asset classes, predominantly in commercial real estate. Georg’s experience includes debt to equity financing, joint venture management, developments on own account as well as investments for institutional funds and family offices. For the last 14 years, Georg worked for Pramerica Real Estate Investors (“Pramerica”), spending the last six years as European Chief Investment Officer. Prior to Pramerica, he was with Helaba and real estate subsidiaries of Commerzbank and Deutsche Bank.
Keith M. Breslauer, Patron’s Managing Director, said:
“We have a strong appetite for real estate in Germany and are dedicated to spending considerable amounts of our investment capital and internal capacities on opportunities in this region. I have known Georg for over 20 years and am very pleased he has decided to join us. With the benefit of his deep knowledge of the German markets, and working together with Christoph Ignaczak and the German teams in London and Frankfurt, I believe we can enhance our position as a significant investor in the German market and achieve our goals.”
Georg von Hammerstein said:
“There are compelling investment opportunities in Germany and I look forward to working with the successful team at Patron to acquire, manage, redevelop and reposition properties to deliver value. With its significant equity, creative approach and substantial co-investment firepower, Patron is uniquely positioned to be able to work with liquidity constrained borrowers, as well as banks and partners to restructure complex real estate situations.”
– Ends –
Notes to Editors:
About Patron Capital Partners
• Patron represents approximately €2.5 billion of capital across several funds (including its most recent Fund IV) and related co-investments, investing in property, corporate operating entities whose value is primarily supported by property assets and distressed debt and credit related businesses.
• Since it was established in 1999, Patron has invested in over 100 transactions across over 50 investments, involving approximately 40 million square feet in 13 countries, with many of these investments realised.
• Investors represent a variety of prominent universities, major institutions, private foundations, and high net worth individuals located throughout North America, Europe, Asia and the Middle East.
• The investment advisers to Fund IV are Patron Capital Advisers LLP and Patron Capital Europe sarl.
• The investment advisers are based in London and Luxemburg and Patron has other offices in Barcelona, Milan, and Dreieich (Germany); the group is comprised of 71 people, including a 34-person investment team and eight senior advisers/direct partners.
• Further information about Patron, please see www.patroncapital.com

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HarbourVest Partners has formed a strategic relationship with CIFC Asset Management. HarbourVest will become a minority shareholder of CIFC and said it will have a revenue-sharing arrangement with respect to the investment advisory fees generated by jointly-branded private debt programs. New York-based CIFC is U.S. loan specialist asset manager.

PRESS RELEASE

NEW YORK and BOSTON, May 10, 2013 /PRNewswire/ –
•    Demand for yielding investment strategies is driving increased interest in private debt
•    HarbourVest, a leading, global private markets investment firm for over 30 years and an established investor in mezzanine and European senior loans, intends to expand its private debt strategy
•    CIFC, a leading U.S. loan specialist asset manager, and HarbourVest, will jointly deliver senior loan expertise to HarbourVest investors

HarbourVest Partners, LLC (“HarbourVest”) and CIFC Asset Management (“CIFC”) (NASDAQ: CIFC) announced today they are forming a strategic relationship.  CIFC’s U.S. senior debt capabilities will complement HarbourVest’s established capabilities and enable innovative yield-oriented investment solutions.
(Logo: http://photos.prnewswire.com/prnh/20111114/NY06218LOGO )  
(Logo: http://photos.prnewswire.com/prnh/20130510/NY11538LOGO )
“This strategic relationship with CIFC allows HarbourVest to continue to provide our clients with best of breed opportunities across the private markets including U.S. senior secured corporate loans exclusively with CIFC,” said Rob Wadsworth , managing director of HarbourVest. “With historically low interest rates expected to prevail for the foreseeable future, many institutional investors are interested in strategies that can provide higher current yields and the potential for strong returns over the long term.”
This relationship is a natural extension of HarbourVest’s strategy in the private credit markets.  The firm began investing into credit funds in 1995, has provided mezzanine loans to private companies since 2003, and has been active in the European senior loan market since 2010.  (An affiliate of HarbourVest serves as the investment manager for HarbourVest Senior Loans Europe.)  HarbourVest has been investing in private markets for over 30 years.
“We are excited to be teaming up with HarbourVest and see significant opportunity to jointly deliver investment solutions focused on private debt.  This relationship will have great synergy between our complementary organizations, and many of the private companies within our portfolios are backed by the same general partners with whom HarbourVest has long-standing relationships,” said Peter Gleysteen , Chief Executive Officer of CIFC.
In connection with the transaction, HarbourVest is expected to become a minority shareholder of CIFC and to enter into a revenue-sharing arrangement with respect to the investment advisory fees generated by jointly-branded private debt programs.
Rob Wadsworth also noted, “Private debt strategies have many of the same qualities as private equity investing – i.e. reliance on similar networks and information for deal sourcing and evaluation, medium-term investment horizons, structuring for downside protection and the potential to outperform the public markets. CIFC’s focus on U.S. senior secured corporate loans is a complement to our existing expertise across mezzanine debt, European senior loans, and private equity.”
The HarbourVest team began managing private equity investments for institutional investors in 1982.  Over the past three decades, the firm has built a global platform that provides clients with access to opportunities across the private markets.  The firm’s expertise extends across a range of global private market strategies (venture, buyout, and mezzanine debt) and across investments into funds, secondary transactions, and direct co-investments in companies.
About HarbourVest
HarbourVest Partners, LLC is an independent global alternative investment firm and an SEC-registered investment adviser.  HarbourVest provides investment programs for institutional investors to invest in venture capital, buyout, mezzanine debt, and distressed debt through primary partnerships, secondary purchases, and direct investments.  HarbourVest and its subsidiaries have more than 250 employees, including nearly 80 investment professionals deployed in Boston, London, Hong Kong, Tokyo, Bogotá, and Beijing.  In more than 30 years of investing in private equity, the team has committed more than $25 billion to newly-formed funds, completed over $9 billion in secondary purchases, and invested $4 billion directly in operating companies.  The firm’s clients consist of more than 300 active institutional investors, including pension funds, endowments, foundations, and financial institutions throughout the U.S., Canada, Europe, Australia, Latin America, and Japan.  To learn more about HarbourVest, visit www.harbourvest.com.
About CIFC
Founded in 2005, CIFC Asset Management is a fundamentals-based, relative value credit manager with $11.8 billion in assets under management from senior secured corporate loan based products as of December 31, 2012. The senior management team averages 30 years of credit experience having managed credit businesses in every credit cycle since the 1980′s. Headquartered in New York with over 60 employees, CIFC is an SEC registered investment adviser and a publicly traded company (NASDAQ: CIFC) currently serving over 200 institutional investors globally. For more information, please visit CIFC’s website at www.cifc.com.
Certain statements in this press release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These include statements regarding future results or expectations, including expectations with respect to the formation and results of the strategic relationship. Forward-looking statements can be identified by forward-looking language, including words such as “believes,” “anticipates,” “expects,” “estimates,” “intends,” “may,” “plans,” “projects,” “will” and similar expressions, or the negative of these words. Such forward-looking statements are based on facts and conditions as they exist at the time such statements are made, various operating assumptions and predictions as to future facts and conditions, which may be difficult to accurately make and involve the assessment of events beyond HarbourVest’s or CIFC’s control. Caution must be exercised in relying on forward-looking statements. The forward-looking statements in this release are subject to risks and uncertainties, including the risk that the strategic relationship is not consummated or, if consummated, terminated by one or both of the parties, and the other risks related to CIFC’s business that are described in its annual report on Form 10-K. The forward-looking statements contained in this press release are made as of the date hereof, and HarbourVest or CIFC undertakes no obligation to update any forward-looking statement to reflect subsequent events, new information or circumstances arising after the date hereof.

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Warburg Pincus said Friday it closed its latest fund at $11.2 billion. Investors for Warburg Pincus Private Equity XI L.P. include public and private pension funds, sovereign wealth funds, insurance companies, endowments, foundations and wealthy individuals. Warburg said the fund held its final close within one year of its first close.

PRESS RELEASE

NEW YORK, May 10, 2013 /PRNewswire/ – Warburg Pincus, a leading global private equity firm focused on growth investing, today announced the closing of Warburg Pincus Private Equity XI, L.P. (“WP XI”), an $11.2 billion global fund.  This new fund is one of the largest private equity funds raised post the global financial crisis.  WP XI, like Warburg Pincus’ prior funds, will invest in growth companies in the firm’s key industry sectors across the globe.
“We are pleased to announce our final close,” said Charles R. Kaye , Co-President of Warburg Pincus.  “This successful fundraise, in a challenging environment, was driven by strong support from both existing and new investors.  We see this success as a clear endorsement by our investors of our global growth investing model.”
WP XI’s Limited Partners include leading public and private pension funds, sovereign wealth funds, insurance companies, endowments, foundations and wealthy individuals.  A significant number of the new investors in the fund are from outside of the United States.  The firm held the final close of the fund within one year of the first close, as planned.
WP XI will continue to pursue a strategy the firm has followed for more than 40 years — partnering with management teams to build world-class companies.  Growth is always a core aspect of Warburg Pincus’ investment thesis.  The firm invests in businesses at all stages of development from start-ups and growth capital to special situations and buyouts.  The firm invests globally with a focus on five key industry sectors:  Energy, Financial Services, Healthcare, Technology, Media and Telecommunications (TMT), and Consumer, Industrial and Services (CIS).
The final close of WP XI follows a very active 2012 in which the firm invested over $2.3 billion in 28 new companies and made follow-on investments into several existing companies.  Several of these new investments were made by WP XI including Venari Resources, a start-up company focused on deepwater exploration and production in the Gulf of Mexico; China Auto Rental, the leading car rental company in China; and InComm, a global prepaid product, services and transaction technologies company.
The firm has also been active in distributing capital back to investors in prior funds.  Warburg Pincus’ funds distributed $6.2 billion to investors in 2012 and another $3 billion in the first quarter of 2013.  Some of the companies contributing to this significant flow of distributions included Targa Resources, a leading midstream energy company in the United States; Ziggo, the largest cable TV company in the Netherlands; InTime, a department store chain in China; CAMP Systems, a global software provider for business aircraft; and Kotak Mahindra, a leading financial institution in India.
“Our strong track record and continuing ability to both make and exit investments that generate attractive rates of return, regardless of economic cycle, is a testament to the firm’s focus on building durable businesses that deliver value over the long-term,” said Joseph P. Landy , Co-President of Warburg Pincus.
About Warburg Pincus
Warburg Pincus LLC is a leading global private equity firm focused on growth investing. The firm has more than $40 billion in assets under management. The firm’s active portfolio of more than 125 companies is highly diversified by stage, sector and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value. Founded in 1966, Warburg Pincus has raised 13 private equity funds which have invested more than $45 billion in over 675 companies in more than 35 countries. The firm is headquartered in New York with offices in Amsterdam, Beijing, Frankfurt, Hong Kong, London, Luxembourg, Mumbai, Port Louis, San Francisco, Sao Paulo and Shanghai.  For more information please visit www.warburgpincus.com.

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Sprouts Farmers Markets LLC, an organic grocer backed by private equity firm Apollo Global Management LLC, filed to raise up to $300 million in an initial public offering of its common stock, Reuters is reporting.

(Reuters) – Sprouts Farmers Markets LLC, an organic grocer backed by private equity firm Apollo Global Management LLC, filed to raise up to $300 million in an initial public offering of its common stock.

The retailer was acquired by the private equity firm in 2011 and merged with Henry’s Farmers Market, another Apollo holding. Sprouts was again merged with grocer Sunflower Farmers Market last year.

Goldman Sachs and Credit Suisse Securities are the lead underwriters to the offering, the company said in a filing with U.S. regulators on Thursday.

Reuters reported in April that Sprouts had selected Goldman Sachs and Credit Suisse as underwriters.

Sprouts, which operates more than 150 stores across the United States, plans to use the proceeds to repay debt and for general corporate purposes.

The Phoenix-based company intends to list on the Nasdaq under the symbol “SFM”.

The filing did not reveal how many shares the company planned to sell or their expected price.

Another Apollo-backed company — jewelry and accessories retailer Claire’s Inc — filed to raise up to $100 million in an initial public offering last week.

The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different.

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TowerBrook Capital Partners has agreed to buy True Religion Apparel in a deal valued at about $835 million. Terms of the deal call for TowerBrook to pay $32 for each share of TrueReligion, the U.S. denim brand. The $32 represents a roughly 52% premium to TrueReligion’s share price on Oct. 9., the day before the company announced it was exploring strategic alternatives. Deutsche Bank, Jefferies, UBS Investment Bank and Macquarie Capital are providing committed financing. Guggenheim Securities advised True Religion. Deutsche Bank, Jefferies and UBS advised TowerBrook.

PRESS RELEASE

VERNON, Calif. – May 10, 2013 – True Religion Apparel, Inc. (Nasdaq: TRLG) today announced that it has entered into a definitive merger agreement with TowerBrook Capital Partners L.P. (“TowerBrook”), the New York and London-based investment management firm, in a transaction valued at approximately $835 million.

Under the terms of the merger agreement, TowerBrook will acquire all of the outstanding shares of True Religion common stock for $32.00 per share in cash. This represents a premium of approximately 52% to True Religion’s share price on October 9, 2012, the day before the Company announced that it had begun to explore strategic alternatives. The Board of Directors of True Religion unanimously approved the merger agreement and recommends that True Religion shareholders vote in favor of the transaction.

Seth Johnson, Lead Director of True Religion said, “After a thorough review of strategic alternatives to enhance shareholder value, we are pleased to reach this agreement, which provides our shareholders with immediate and substantial cash value representing a significant premium.  The Special Committee has engaged in a thorough review of the state of the business, its outlook and opportunities.  Having considered alternatives over a seven month period, the Special Committee believes TowerBrook’s $32.00 per share cash offer for the Company is in the best interest of our shareholders.”

Lynne Koplin, Interim Chief Executive Officer and President of True Religion said, “I am pleased to announce this agreement as it offers significant value to our shareholders. TowerBrook’s investment is an important endorsement of the True Religion brand, its prospects and the hard work and commitment of our team. At this critical inflection point in our business, global growth and product development effort, TowerBrook’s support and experience will be a true differentiator.  TowerBrook’s long-term approach toward investment and brand stewardship will best enable True Religion to maintain its leadership position in the marketplace. We are confident the next chapter for True Religion will be a successful one for our employees, customers and all other stakeholders.”

Andrew Rolfe, Managing Director of TowerBrook commented, “True Religion is an established, high-end brand with a strong retail network and a loyal following. We are excited to combine our retail and apparel expertise with Lynne and the True Religion team to help the company with brand building and international opportunities.”

TowerBrook has significant experience in the consumer retail and luxury space and has made control-oriented investments in companies such as Jimmy Choo, Odlo, BevMo! and Phase Eight.

The merger is subject to approval from True Religion’s shareholders, regulatory approvals and other customary closing conditions.  The transaction is expected to close in the third quarter of 2013.

Guggenheim Securities, LLC is serving as financial advisor and Greenberg Traurig, LLP is serving as legal advisor to True Religion and the Special Committee of the Board.  Akin Gump Strauss Hauer & Feld is legal advisor to the Company.  Deutsche Bank, Jefferies and its affiliates, UBS Investment Bank and Macquarie Capital have provided committed financing to TowerBrook in support of the transaction. Deutsche Bank, Jefferies and UBS Investment Bank acted as financial advisors to TowerBrook, and Wachtell, Lipton, Rosen & Katz is serving as legal advisor.

About True Religion Apparel, Inc.

True Religion Apparel, Inc. is a growing, design-based jeans and jeans-related sportswear brand. The Company designs, manufactures and markets True Religion Apparel products, including its premium True Religion Brand Jeans. Its expanding product line, which includes high-quality, distinctive styling and fit in denim, sportswear, and licensed products, may be found in the Company’s branded retail and outlet stores as well as contemporary department stores and boutiques in 50 countries on six continents. As of March 31, 2013, the Company operated 124 stores in the U.S. and 31 international stores.  For more information, please visit www.truereligionbrandjeans.com.
About TowerBrook Capital Partners

TowerBrook Capital Partners L.P. is an investment management firm with in excess of US$8 billion under management and a track record of creating value for investors. The firm is based in Europe and the USA and focuses on making investments in European and North American companies. TowerBrook primarily pursues control-oriented investments in large and middle market companies, partnering with highly capable management teams and seeking situations characterized by complexity.

Forward Looking Information

Statements contained herein that relate to future results and events are forward-looking statements based on the Company’s current expectations. Actual results and events in future periods may differ materially from those expressed or implied by these forward-looking statements because of a number of risks, uncertainties and other factors. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Risks, uncertainties and assumptions include, but are not limited to: (1) the occurrence of any event, change or other circumstances that could give rise to the termination of the Merger Agreement; (2) the inability to complete the proposed Merger due to the failure to obtain stockholder approval for the proposed Merger or the failure to satisfy other conditions to completion of the proposed Merger, including that a governmental entity may prohibit, delay or refuse to grant approval for the consummation of the transaction; (3) the failure to obtain the necessary financing arrangements set forth in the debt and equity commitment letters delivered pursuant to the Merger Agreement; (4) risks related to disruption of management’s attention from the Company’s ongoing business operations due to the transaction; and (5) the effect of the announcement of the proposed Merger on the Company’s relationships with its customers, suppliers, operating results and business generally.
Actual results may differ materially from those indicated by such forward-looking statements. In addition, the forward-looking statements represent the Company’s views as of the date on which such statements were made. The Company anticipates that subsequent events and developments will cause its views to change. However, although the Company may elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company’s views as of any date subsequent to the date hereof. Additional factors that may cause results to differ materially from those described in the forward-looking statements are set forth in the Company’s Annual Report on Form 10–K for the fiscal year ended December 31, 2013 under the heading “Item 1A—Risk Factors,” and in subsequent reports on Forms 10–Q and 8–K filed with the SEC by the Company.

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Augme Technologies have secured an accounts receivable credit facility from Silicon Valley Bank. The loan allows Augme to borrow up to $5 million. Augme and unit Hipcricket provide a customer engagement platform.

PRESS RELEASE

NEW YORK, NY–(Marketwired – May 9, 2013) – Augme® Technologies, Inc. (OTCQB: AUGT) (“Augme”) and its wholly owned subsidiary, Hipcricket®, Inc. (“Hipcricket”) (collectively “the Company”), a technology leader in mobile marketing and advertising, announced today that it has secured an accounts receivable credit facility from Silicon Valley Bank. The revolving loan credit facility has a two-year term and allows Augme to borrow up to $5 million based upon a predetermined formula in the credit and security agreement.
“The accounts receivable facility is an efficient way for Augme to access cash without diluting equity,” said Ivan Braiker, CEO of Augme. “Our strong relationships with Silicon Valley Bank helped us to secure this non-dilutive financing option, as we prepare for the next stage of growth at Augme.”
About Augme Technologies, Inc.
Augme® Technologies, Inc. (OTCQB: AUGT), and its wholly-owned subsidiary Hipcricket, provides a customer engagement platform that empowers brands, agencies and media properties to engage customers, drive loyalty and increase sales via mobile. Hipcricket’s customers connect with consumers across every mobile channel, including SMS, 2D/QR codes, mobile websites, advertising networks, social media and branded apps. Hipcricket’s proven technology, strategic and marketing services and experienced account management teams have provided measurable success to a broad range of national and regional brand-name leaders (e.g., MillerCoors, Clear Channel) across an industry-leading 250,000+ campaigns.
In addition to AD LIFE®, Augme in 2011 acquired the assets of Hipcricket, Inc. and JAGTAG, Inc. and licenses the digital broadcast platform BOOMBOX®. Augme is headquartered in Kirkland, WA, with operations in New York City, Atlanta, Dallas, Los Angeles, San Francisco, Chicago, and Miami. For more information visit www.augme.com or www.hipcricket.com.
Augme Technologies™, Hipcricket®, Augme®, AD LIFE®, BOOMBOX®, AD SERVE® and the Augme logo are trademarks of Augme Technologies, Inc. All rights reserved. 2009-13.
About Silicon Valley Bank
Silicon Valley Bank is the premier bank for technology, life sciences, cleantech, venture capital, private equity and premium wine businesses. SVB provides industry knowledge and connections, financing, treasury management, corporate investment and international banking services to its clients worldwide through 28 U.S. offices and six international operations. http://www.svb.com/.

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Ares Management agreed to buy AREA Property Partners. Ares is also buying a minority stake in AREA held by National Australia Bank. Financial terms weren’t disclosed. AREA Property is a real estate management firm that invests across North America, Europe and India.

PRESS RELEASE

Ares Management LLC announced today that it has signed a definitive agreement to acquire AREA Property Partners, L.P., a top-tier real estate management firm investing across North America, Europe and India. The transaction includes the acquisition of the minority stake in AREA held by National Australia Bank. The terms of the transaction were not disclosed, and the transaction remains subject to customary closing conditions including regulatory and investor approval.

Lee Neibart, Chief Executive Officer of AREA, will become a Senior Partner of the Ares Real Estate Group. Mr. Neibart will join John Bartling, a Senior Partner of the Ares Real Estate Group, as the Global Co-Heads of the Group. William Benjamin, AREA’s Head of Europe and India, will become a Senior Partner of the Ares Real Estate Group and continue as Head of Europe and India Real Estate.
“AREA’s expertise in value-add and opportunistic equity investing and mezzanine debt will complement our real estate group’s current capabilities in real estate private lending,” said Tony Ressler, Senior Partner and Chairman of the Executive Committee of Ares Management. “Further, the entire Ares Management platform will greatly benefit from AREA’s geographic reach, market insights, industry relationships and seasoned investment professionals – especially Lee Neibart in the U.S. and Bill Benjamin in Europe.”
“The combination, which will result in the Ares Real Estate Group having approximately $8 billion of committed capital and more than 70 investment professionals upon closing, will benefit our respective employees, investors and real estate partners,” added Mr. Bartling. “Our expanded offering, along with the significant resources and collaboration from across Ares Management, will make the Ares Real Estate Group a truly differentiated manager with global investment capabilities across the capital spectrum – from debt to equity.”
All existing AREA investment vehicles will continue to be managed by legacy AREA investment professionals in their capacities at Ares Management. William Mack, Founder of AREA, announced he will be stepping down as Chairman of AREA to focus on actively managing his family’s real estate initiatives, investments and philanthropic pursuits. Richard Mack, North America Chief Executive Officer of AREA, will become a Senior Advisor to the Ares Real Estate Group.
“As we transition to this exciting new phase of joining Ares, we want to acknowledge Bill Mack for his foresight, investment insights and unwavering integrity, which shaped the philosophy that has guided our firm over the past two decades. It was his vision and long-term commitment to building AREA that led to this opportunity to partner with Ares,” said Mr. Neibart. “Combining the complementary skill sets and asset classes of both firms will yield superior sourcing opportunities and enhanced credit analysis and information flow that will enable us to bring new products to investors while offering creative debt and equity financing solutions to the marketplace. The Ares Real Estate Group will now be a significant player at a time when we are seeing increasingly compelling opportunities in existing and new mandates.”
Hodes Weill & Associates acted as strategic advisor to AREA Property Partners and J.P. Morgan Securities LLC provided financial advisory services to Ares Management in connection with this transaction.
About Ares Management LLC
Ares Management LLC is a global alternative asset manager and SEC registered investment adviser, which had approximately $59 billion of committed capital under management and approximately 560 employees as of March 31, 2013, before giving effect to this transaction. Ares is headquartered in Los Angeles with professionals located across the United States, Europe and Asia and invests across the capital structure – from senior debt to common equity. Ares’ investment activities are managed by dedicated teams in its Capital Markets, Private Debt, Private Equity and Real Estate investment platforms. Ares Management was built upon the fundamental principle that each platform benefits from being part of the greater whole. This multi-asset class synergy provides its professionals with insights into industry trends, access to significant deal flow and the ability to assess relative value.
For additional information, visit www.aresmgmt.com.
About AREA Property Partners
AREA Property Partners is a leading international real estate investor and fund manager on behalf of prominent government and corporate pension funds, sovereign wealth funds, insurance companies, foundations, endowments, and high net worth individuals. Since the firm’s founding in 1993, AREA Property Partners has overseen the establishment of multiple real estate funds and joint ventures totaling $14 billion in equity commitments for investments in the United States, Europe and Asia. Its funds have collectively invested in over 600 transactions with an aggregated value in excess of $70 billion; as of March 31, 2013 AREA had approximately $6 billion of committed capital under management. Headquartered in New York, the firm has offices in Atlanta, San Francisco, London, Paris, Luxembourg and Mumbai. AREA’s funds target a broad range of opportunistic, value-added and debt investments in real estate assets and portfolios throughout North America, Europe, and India.

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Scale Venture Partners said Friday that it closed its most recent fund with $300 million in commitments. The total exceeded Fund IV’s target of $250 million. Limited partners include pension funds, financial institutions, foundations, funds of funds and family offices worldwide. Scale Venture Partners, of Foster City, Calif., targets early-in-revenue technology companies in SaaS, Cloud, Mobile and Internet sectors.

PRESS RELEASE

FOSTER CITY – May 10, 2013 – Scale Venture Partners (ScaleVP) today announced that it has closed ScaleVP IV, L.P. with $300M in commitments, exceeding its original target of $250M.  Limited partners (LPs) include leading pension funds, financial institutions, foundations, funds of funds and family offices worldwide. ScaleVP received strong support from its existing investors and also added several leading institutions as limited partners.

“We are deeply grateful for the support from our existing and new LPs who recognize the quality of our portfolio companies, our team-oriented culture and our focused investment approach,” said Kate Mitchell, Partner at ScaleVP. “We look forward to working closely with our limited partners, co-investors, and importantly, the entrepreneurs who are building the high-growth companies that are the lifeblood of the venture capital business.”

ScaleVP has raised a total of $1.5B since its inception and will continue to back early-in-revenue technology companies that are ready to scale. Previous investments include Box, DocuSign, HubSpot, ExactTarget, RingCentral and Omniture.

“Our focus at ScaleVP is on helping companies scale from first customers to mass adoption,” said Rory O’Driscoll, Partner with ScaleVP. We are seeing an inexorable trend in the adoption of cloud and mobile that is the driving force behind the revenue growth across our portfolio and the technology industry as a whole. ”

“ScaleVP has really emerged as a leading VC firm with a distinct strategy focused on scaling early-in-revenue companies,” said David York, Managing Director with Top Tier Capital Partners. “Top Tier is delighted to have partnered with the Firm since its first institutional raise and committed early to Fund IV based on the long standing team and strong track record.”

ScaleVP IV will be managed by seven partners who have worked together for an average of 11 years: Stacey Bishop, Rob Herb, Kate Mitchell, Rory O’Driscoll, Rob Theis, Andy Vitus and Sharon Wienbar.  ScaleVP also recently announced the additions of Alexander Niehenke, Qiyun Cai and Susan Liu to the team.  The ScaleVP team brings operating experience in high-growth technology companies as well as deep investment and financial skills.

Further detail on the firm’s new fund and reflections on the fundraising environment can be found on Kate Mitchell’s blog  post attached.

About Scale Venture Partners
Scale Venture Partners (ScaleVP) invests in early-in-revenue technology companies in SaaS, Cloud, Mobile and Internet sectors. ScaleVP’s passion and expertise is in helping entrepreneurs and management teams scale their business and grow into long-term companies that matter. ScaleVP has raised $1.5B since the firm was founded in 2000. Representative investments include: Box, BrightRoll, DocuSign, Everyday Health, ExactTarget, HubSpot, NComputing, Omniture, RingCentral and Vitrue.

ScaleVP is located in Foster City, California and invests nationwide. For more information, visit www.scalevp.com or follow us on Twitter at @scalevp or LinkedIn at www.linkedin.com/company/scale-venture-partners.

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GiveCorps has closed a round of angel funding worth $822,000. Investors include: The Abell Foundation; David Warnock, founder of Camden Partners; Vince Talbert, co-founder of Bill Me Later; Lou Pugliese, former CEO of Moodlerooms and former CEO of Blackboard; Frank Bonsal, Jr., co-founder of New Enterprise Associates (NEA); and, Joe Hardiman, former head of the National Association of Securities Dealers. Baltimore-based GiveCorps says it creates technology to make philanthropy easy and accessible to everyone.

PRESS RELEASE

GiveCorps, a Baltimore-based startup dedicated to creating technology to make philanthropy easy and accessible to everyone, has closed a round of angel funding worth $822,000.
The round allows GiveCorps to expand its team and expand the marketing of its newly launched GiveCorps.Pro platform. Investors in the round include:

·       The Abell Foundation
·       David Warnock, founder of Camden Partners
·       Vince Talbert, co-founder of Bill Me Later
·       Lou Pugliese, former CEO of Moodlerooms and former CEO of Blackboard
·       Frank Bonsal, Jr., co-founder of New Enterprise Associates (NEA)
·       Joe Hardiman, former head of the National Association of Securities Dealers
“We’re honored to have a dynamic group of investors who see the vision of our platform,” said GiveCorps CEO Jamie McDonald. “Not only will GiveCorps be creating jobs, but our expansion enables us to reach, empower and grow more organizations.”
GivCorps.com launched in 2011, as a crowdfunding site for nonprofits that paired with special deals from area merchants and restaurants. The site quickly grew and the company was approached by a variety of nonprofits and universities who wanted a more comprehensive platform for their own fundraising.
“Though we originally launched with a consumer focus, several large nonprofits, including several colleges approached GiveCorps about the success of our platform,” said McDonald. “We recognized the power of the GiveCorps software as a tool for larger nonprofits seeking to grow support among online and Millennial constituents.”
The company recently launched GiveCorps.Pro, a turnkey SaaS solution for Higher Ed, K-12 schools, Faith Organizations and other large nonprofits. GiveCorps.Pro is a donor-centered, mobile, social, giving platform that helps organizations engage supporters, grow audiences, and boost their base of recurring givers.
Using GiveCorps.Pro, a nonprofit’s supporters can:

●      Give anytime, anywhere on a fully mobile platform – no app download necessary.
●      Create personal profiles with their giving interests, their contact info and social links.
●      Create GiveAccounts where funds can be ‘saved’ over time for giving, make giving affordable and easy for site users.
●      Track all of their activity and store tax receipts through the “GiveVault.”
●      Make their giving “green” with a completely paperless interface.
●      Share their donations across a wide variety of social networks.
For organizations, GiveCorps.Pro’s powerful administrative tools offer reporting and analytics to learn from donors, to integrate with their existing donor management system, to capitalize on existing campaigns and marketing, and to maximize staff time for more impact.
About GiveCorps
Founded in 2011, GiveCorps combines technology, storytelling, and social marketing to redefine what it means to be a philanthropist. The mission of GiveCorps.Pro is to engage and inspire passionate support of giving communities so they can deepen their impact.
GiveCorps.Pro, the company’s private-label platform for institutional fundraisers, offers a donor-centered Software as a Service (SaaS) technologies to create long-lasting relationships with donors. GiveCorps.Pro helps organizations identify, market and publicize their impact, directly linking impact stories to giving opportunities.  Utilizing the best practices of GiveCorps.com, GiveCorps.Pro provides a powerful, custom branded, fully mobile online giving platform to nonprofits, educational institutions, faith organizations and corporations.

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Goldman Sachs Private Capital Investing Group has acquired Broad Anesthesia Associates and Mid-Florida Anesthesia Associates and formed Resolute Anesthesia and Pain Solutions, a statement says. The physician-founders and partners of the companies took part in the deal. Regions Bank has provided a senior credit facility to fund the Resolute’s growth initiatives. Cross Keys Capital advised Broad and Mid-Florida. Boca Raton, Fla.-based Resolute provides anesthesia and pain management services.

PRESS RELEASE

Resolute Anesthesia and Pain Solutions, LLC (“Resolute”), a provider of anesthesia and pain management services, has been formed, participants in the venture announced today. Resolute was formed by the physician-founders and partners of Broad Anesthesia Associates and Mid-Florida Anesthesia Associates in a recapitalization led by Goldman, Sachs & Co. (NYSE:GS). The company is based in Boca Raton, Florida.

The recapitalization of Broad Anesthesia Associates and Mid-Florida Anesthesia Associates was led by the Goldman Sachs Private Capital Investing Group. Both anesthesia groups were advised by Cross Keys Capital in the transaction. The newly-formed Resolute is a physician-led organization dedicated to delivering the highest quality of care to its patients. Resolute currently serves over 25 locations in Florida, Missouri, and Illinois and expects to grow by partnering with leading quality anesthesia groups nationally.

Regions Bank has provided a senior credit facility to fund the company’s growth initiatives. The partnership between Resolute and Goldman Sachs is unique in that it allows Resolute’s current and future physician-stakeholders to participate significantly in the future growth of the company.

Andrew Barnett will serve as the company’s Chief Executive Officer. As the former CEO of The Center for Wound Healing, Andrew Barnett has extensive experience building healthcare services organizations of national scale.

Resolute is investing in state-of-the-art revenue cycle management, electronic medical record, practice management, finance, insurance, contracting, and other administrative functions. The company has access to incremental equity and debt financing and expects to partner with other physician groups to create a leading national provider of anesthesia and pain solutions that is dedicated to excellence in clinical care.

As the growing cost of complying with federal and state regulatory requirements increased the time and financial burden of managing their practices, Resolute’s physicians sought a partner who could provide both the capital and the management expertise to grow their company while allowing them to focus on treating patients and providing the best quality of care.

“The practice of medicine requires increasing investments in information technology, operations and compliance,” said Dr. Harvey Plosker, a founding partner of Broad Anesthesia Associates. “Our view is that of all the strategic alternatives we looked at, our partnership with Goldman Sachs provides us with the broadest array of capabilities, including the management expertise and capital that will allow us and our partners to focus on practicing medicine and at the same time realize our long-term strategic goals.”

“We pride ourselves at being ‘ahead of the curve’ with respect to patient management, compliance and the overall patient experience,” said Dr. Marc Levine, a founding partner of Mid-Florida Anesthesia Associates. “We believe this emphasis is a key differentiator for us and the reason we have been so successful. We learned that Goldman Sachs shares this vision, and that our partnership provides Resolute Anesthesia and Pain Solutions with the foundation to deliver anesthesia and pain management services on a national basis with like-minded doctors who believe the patient comes first.”

About Resolute Anesthesia and Pain Solutions, LLC

Headquartered in Boca Raton, FL, Resolute provides anesthesia and pain management solutions to its patients. The company was recently formed by a group of physician partners in a recapitalization led by Goldman, Sachs & Co. Resolute provides state-of-the-art revenue cycle management, compliance, and administrative support capabilities and seeks to partner with leading anesthesia providers nationally. The company currently serves over 25 locations in Florida, Missouri, and Illinois.

About Goldman Sachs Private Capital Investing

Private Capital Investing (“PCI”) is Goldman Sachs’ investment platform dedicated to providing preferred equity and mezzanine capital to growth and middle market companies based in North America. PCI invests $20 million – $150 million of equity per transaction in the form of common, preferred, and structured equity. Contact: [email protected]

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Blackstone said Thursday that Jim Albaugh was named a Senior Advisor. He will focus primarily on the firm’s private equity activities in the Aerospace and Defense sector. Albaugh was most recently CEO and President of Boeing Commercial Airplanes at The Boeing Company.

PRESS RELEASE

NEW YORK–(BUSINESS WIRE)–Blackstone (NYSE:BX) today announced that Jim Albaugh has been appointed as a Senior Advisor. Mr. Albaugh will focus primarily on the firm’s private equity activities in the Aerospace and Defense sector, while also advising other businesses and clients across Blackstone’s diverse platforms. Mr. Albaugh was most recently Chief Executive Officer and President of Boeing Commercial Airplanes at The Boeing Company.

Joe Baratta, Global Head of Private Equity at Blackstone, said, “We are delighted that Jim has agreed to join us as a Senior Advisor. Jim’s addition to our team strengthens our expertise in the Aerospace and Defense sector and will help us pursue attractive opportunities on behalf of our limited partners.”

Jim Albaugh said, “I am excited about being a part of the Blackstone team as they look to pursue new transactions in the Aerospace and Defense sector. Blackstone’s global investing platform presents an excellent opportunity for value creation in the Aerospace and Defense sector.”

Mr. Albaugh’s prior positions at Boeing include President and CEO of Boeing Defense, Space & Security; Senior Vice President of Boeing and President of Space and Communications Group; President, Boeing Space Transportation; and President of Rocketdyne Propulsion and Power. He has also served as a director of TRW Automotive Holdings Corp. since 2006. He holds Bachelor’s degrees in Mathematics and Physics from Willamette University and a Master’s degree in Civil Engineering from Columbia University.

About Blackstone

Blackstone is one of the world’s leading investment and advisory firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, the companies we advise and the broader global economy. We do this through the commitment of our extraordinary people and flexible capital. Our alternative asset management businesses include the management of private equity funds, real estate funds, hedge fund solutions, credit-focused funds and closed-end funds. Blackstone also provides various financial advisory services, including financial and strategic advisory, restructuring and reorganization advisory and fund placement services. Further information is available at www.blackstone.com. Follow us on Twitter @Blackstone.

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Thomas H. Lee Partners and an affiliate of Goldman, Sachs & Co. have agreed to buy CTI Foods. Littlejohn & Co. is the seller. Financial terms weren’t announced. Morgan Stanley and Goldman Sachs provided commitments for the debt financing. CTI, which has corporate offices in Fort Worth, Texas and Wilder, Idaho, provides custom food solutions to major chain restaurants in North America. Goldman provided financial advice to THL and Goldman.

PRESS RELEASE

Thomas H. Lee Partners, L.P. (“THL”), a leading private equity firm, and an affiliate of Goldman, Sachs & Co. (“Goldman Sachs”), today announced they have signed a definitive agreement under which THL and Goldman Sachs will acquire CTI Foods, (“CTI”) from Littlejohn & Co., LLC.
With corporate offices in Fort Worth, Texas and Wilder, Idaho, CTI is a leading independent provider of custom food solutions to major chain restaurants in North America. Products that the Company supplies include value-added proteins, soups and dressings. With a focus on flavor and menu innovation, CTI partners with its clients to create custom culinary products that provide its customers a competitive edge. CTI has well-established and long-standing relationships with major quick service and casual dining chains in the U.S. and has a strong track record of innovation. CTI Foods has a national footprint, with seven state-of-the-art food processing facilities located in Idaho, California, Kentucky, Pennsylvania and Texas.
“We at CTI Foods are excited to announce this partnership with THL and Goldman Sachs. In the past years, CTI has steadily expanded through organic growth, targeted and strategic acquisitions, and a commitment to R&D and innovation. The company has a compelling growth path and a well-defined offering of value-added food products. As we look to the next phase of our growth, we couldn’t be more pleased to be partnering with THL and Goldman Sachs, investors who share our commitment to our customers, and bring exceptional financial and industry expertise that will help propel us to the next level,” said Robert (“Bobby”) Horowitz, Chief Executive Officer of CTI.
“Bobby and the team at CTI Foods have created an outstanding company with a well-deserved reputation for quality, innovation, and customer service. CTI has demonstrated a track record of robust growth and has consistently developed strong partnerships with its customers. We are extremely pleased to have the opportunity to invest in the Company and partner with its first class management team and employees,” said Jeff Swenson, Managing Director at THL.
“CTI is a leader in the custom food solutions industry and management has done an excellent job accelerating its growth trajectory,” said Nicole Agnew, Managing Director at Goldman Sachs. “We are excited to bring additional support and resources to position the Company to continue its successful development.”
Goldman, Sachs & Co. acted as Financial Advisor and Weil, Gotshal & Manges acted as Legal Advisor to THL and Goldman Sachs. Morgan Stanley acted as Financial Advisor and Gibson, Dunn & Crutcher acted as Legal Advisor to Littlejohn and CTI. Affiliates of Morgan Stanley and Goldman Sachs provided commitments for the debt financing for the transaction.
The transaction is expected to close in the second quarter of 2013.
About Thomas H. Lee Partners
Thomas H. Lee Partners, L.P. (“THL”) is one of the world’s oldest and most experienced private equity firms. The firm invests in growth-oriented global businesses, headquartered principally in North America, across three broad sectors: Consumer & Healthcare, Media & Information Services and Business & Financial Services. THL’s team of investment and operating professionals partner with portfolio company management teams to identify and implement business process improvements that accelerate sustainable revenue and profit growth. Since its founding in 1974, THL has raised approximately $20 billion of equity capital and invested in more than 100 businesses with an aggregate purchase price of more than $150 billion. THL strives to build great companies of lasting value and generate superior investment returns. For more information, please visit www.thl.com.
About Goldman Sachs
The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world. For more information on Goldman Sachs, please visit www.gs.com.

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Littlejohn & Co. has agreed to sell CTI Foods. Neither financial terms nor the buyer were announced. CTI provides custom food solutions to major chain restaurants in North America. Morgan Stanley advised CTI.

PRESS RELEASE
Littlejohn & Co., LLC, a private investment firm based in Greenwich, CT, announced today that it has signed a definitive agreement to sell CTI Foods, a leading provider of custom food solutions to major chain restaurants in North America.  The transaction is expected to close in the second quarter of 2013.

Littlejohn acquired CTI Foods in 2010 and shortly thereafter appointed Robert (“Bobby”) Horowitz as the new CEO of the business.  Littlejohn, together with the Company’s management team, expanded the company into a leading national provider of custom, value-added food products.  During Littlejohn’s ownership, CTI built a new state-of-the-art soup plant and R&D facility, completed two acquisitions and developed several major new accounts that diversified its customer base.

“This successful transaction is the culmination of our collaboration with a management team that flawlessly executed on a number of strategic growth initiatives.  The result is a much stronger company in terms of its customer base, product offerings, profitability, and safety,” said Steven G. Raich, a Managing Director at Littlejohn.  Michael Kaplan, also a Littlejohn Managing Director, added, “The business is well positioned for continued growth and we are confident that the new ownership will continue to support the Company’s development.”

Mr. Horowitz, said, “Littlejohn was instrumental in helping us capitalize on a number of opportunities to organically grow the business, as well as complete strategic acquisitions to build for the future.  We look forward to working with our new partners to build on these and other initiatives to continue the company’s growth.”
Morgan Stanley acted as financial advisor to CTI Foods in connection with the transaction.

About Littlejohn & Co., LLC
Littlejohn & Co. is a Greenwich, Connecticut-based private equity and distressed securities firm investing in middle-market companies that are undergoing a fundamental change in capital structure, strategy, operations or growth that can benefit from its operational and strategic approach.  The firm is currently investing from Littlejohn Fund IV, L.P., which has over $1.3 billion in capital commitments. For more information, visit www.littlejohnllc.com.

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EuNetworks Group has secured a debt funding commitment with Barclays Private Credit Partners Fund L.P. EuNetworks said €45 million is available and includes €30 million commitment to be used primarily for incremental organic and inorganic growth. Barclays Private Credit Partners has also retained an option to participate any future equity fundraisings by euNetworks. London-based euNetworks is a bandwidth infrastructure provider.

PRESS RELEASE

euNetworks Group Limited (SGX: H23.SI), today announced that it has entered into a term loan facilities agreement with Barclays Private Credit Partners Fund L.P.

Terms and conditions for the committed term loan facility including interest rate, total leverage incurrence test and delayed draw feature are favourable to market.

The term loan may be expanded to €45 million as organic or inorganic growth opportunities materialise. In addition, Barclays Private Credit Partners have reflected their commitment to euNetworks’ business by retaining an option to participate in any equity fundraising if euNetworks elects to pursue such an action in the future.

“We expect to utilise this funding from our new partner to deliver more bandwidth infrastructure services to our growing in-place customers and new customers,” said Brady Rafuse, Chief Executive Officer of euNetworks. “This is an exciting time for our business, and as ever, we are focused on delivering our targets for further scale.”

About euNetworks

euNetworks Group Limited (SGX: H23:SI) is a bandwidth infrastructure provider, owning and operating 13 fibre based metropolitan networks across Europe connected with a high capacity intercity backbone covering 38 cities in 9 countries. The Company offers a portfolio of metropolitan and long haul services including Colocation, Dark Fibre, Metro Wavelengths, Wavelengths, Ethernet, and Internet. Enterprise and carrier customers benefit from euNetworks’ unique inventory of fibre and duct based assets that are tailored to fulfil their high bandwidth needs.

euNetworks Group Limited is headquartered in London and publicly listed on the Singapore Stock Exchange. For further information please visit www.eunetworks.com.

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Private equity investor Oaktree is in advanced talks to merge its German office real estate unit Acorn with competitor Prime Office, Reuters is reporting.

(Reuters) – Private equity investor Oaktree is in advanced talks to merge its German office real estate unit Acorn with competitor Prime Office, Prime Office said in a statement on Wednesday.

The combined companies would be listed and hold assets worth 2.3 billion euros, Prime Office said, adding the aim was to reach an agreement by the European summer.

Oaktree, which already holds 8.4 percent in Prime Office, would become the majority shareholder in the company after the merger. The deal would allow Oaktree to attract new investors for the merged company and, by floating on the stock exchange, give it the option of exiting the investment later.

“Should the talks progress positively, the companies plan to take the necessary steps that are required for a merger including the determination of the merger exchange ratio and the appointment of the merger auditor,” the statement said.

Prime Office’s share rose 15.7 percent to 3.70 euros at 0940 BST on Wednesday.

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Facebook Inc is in advanced talks to acquire Israeli mobile satellite navigation start-up Waze for $800 million to $1 billion, business daily Calcalist reported on Thursday.

(Reuters) – Facebook Inc is in advanced talks to acquire Israeli mobile satellite navigation start-up Waze for $800 million to $1 billion, business daily Calcalist reported on Thursday.

Due diligence is underway after a term sheet was signed, Calcalist said, adding that talks began six months ago.
Waze uses satellite signals from members’ smartphones to generate maps and traffic data, which it then shares with other users, offering real-time traffic info.

Officials at Waze declined to comment on the report.

Waze and Facebook partnered in October 2012 when Waze released its updated version that allows users to share their drive with their Facebook friends.

This would be Facebook’s third acquisition in Israel. It bought Snaptu in 2011 for $70 million and Face.com in 2012 for $60 million.

In the last year, Waze tripled its user base to 45 million and in March alone, 1.5 million users downloaded the free mobile navigation app, Calcalist said.

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Kayne Anderson Middle Market Credit, the private credit platform of Kayne Anderson Capital Advisors, along with Comvest Partners provided a $24 million term loan to SCG Financial Acquisition Corp. The loan will fund the business combination of Reach Media Group Holdings and Symon Communications Holdings Corp.

PRESS RELEASE

Kayne Anderson Middle Market Credit, the private credit platform of Kayne Anderson Capital Advisors, L.P. (“Kayne” or “Kayne Anderson”), and Comvest Partners provided a $24,000,000 term loan to SCG Financial Acquisition Corp. (d/b/a “RMG Networks”) (NasdaqCM: RMGN) to fund the business combination of Reach Media Group Holdings, Inc. (“RMG”), a leading digital signage media and technology company, and Symon Communications Holdings Corporation (“Symon”), a leading global provider of enterprise-class digital signage solutions.

The deal was led and agented by one of Kayne’s middle market lending funds, Kayne Senior Credit Fund, L.P. Comvest Partners, through its fund Comvest Capital II L.P., provided $8,000,000 of the $24,000,000 term loan.
The combination of RMG and Symon creates a leading digital signage media company that offers intelligent visual technology solutions to enterprise customers and leadership in digital place-based media to advertisers. RMG Networks now has over 7,500 customers including approximately 70% of the Fortune 100, a majority of the Fortune 500, and over 1 million installed screens.
Gregory Sachs, Executive Chairman of RMG Networks said, “I am very excited about this new business combination. Our goal is to become a premier platform for providing customers and partners intelligent visual communications solutions and we will move swiftly to capture opportunities in this highly fragmented space. I believe we have the right lenders to help execute this strategy, as demonstrated in their hard work to help us get the transaction done quickly and efficiently.”
Ken Leonard, Managing Partner, Kayne Senior Credit Fund, L.P. said, “The transaction represented a unique opportunity to finance two industry leading companies with niche focuses in defensible markets. We are delighted to have closed the transaction and look forward to working with the company in meeting future growth needs.”
Dan Lee, Managing Director, Comvest Partners, said, “We were impressed by both RMG and Symon, and particularly by the quality of their management teams. This was an opportunity to support Mr. Sachs and Kayne Anderson, who we have known for years and think very highly of. We look forward to supporting the business with additional capital and building a very productive relationship with Kayne Anderson over the years.”
About RMG Networks:
RMG Networks is a leading provider of complete digital signage solutions. Its RMG Media Networks business unit engages elusive audience segments with relevant content and advertising delivered through digital place-based networks, including the largest digital airline media network with a monthly audience of more than 35 million passengers and a mall media network reaching over 62 million monthly viewers in 161 shopping malls across the United States. Its RMG Enterprise Solutions business unit provides digital signage hardware, software and services to power state-of-the-art visual communication implementations for critical contact center, supply chain, employee communications, hospitality, retail and other applications. The company is based in Plano, TX and operates offices in major cities throughout the United States and in the United Kingdom, China, India and the U.A.E. Its securities are traded on the NASDAQ Capital Market (RMGN) and the OTC Bulletin Board (SCGQU and SCGQW). For more information visit www.rmgnetworks.com.
About Comvest:
Comvest Partners, with $1.1 billion of assets under management, provides flexible financing solutions to lower middle-market companies through its equity and debt funds, often meeting time-critical and complex funding requirements. Our firm includes seasoned, senior level operating executives who partner with managers and owners of companies to operationally improve businesses and create long-term value. Since 2000, Comvest has invested more than $1.7 billion of capital in over 115 public and private companies. Please visit www.comvest.com.
About Kayne Middle Market Credit:
Kayne Anderson Middle Market Credit, with offices in New York, Houston, and Los Angeles, is a private debt platform focused exclusively on meeting the financing needs of middle market companies. With $9551 million of capital raised, Kayne Anderson Middle Market Credit provides complete capital solutions, including senior secured bank debt, junior secured debt, unitranche debt, mezzanine debt and preferred and common equity to companies in a variety of different industries predominantly across North America. Kayne Anderson Middle Market Credit is a part of Kayne Anderson Capital Advisors, L.P. (“Kayne Anderson”) a leading alternative investment management firm with $21 billion in assets under management (as of 4/30/13) and nearly 30 years of successful investing experience. Kayne Anderson focuses on niche investing in middle market credit, energy and energy infrastructure, real estate, growth equity, and municipal opportunities. For more information, please visit www.kaynecapital.com.
1 Includes total commitments raised for Kayne Anderson Mezzanine Partners (“KAMP”) and Kayne Senior Credit Fund (“KSCF”), targeted capital for Kayne Credit Opportunity Fund, L.P. (“KCOF”) and strategic relationships and separately managed accounts in the strategy.

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