We analyse, from a corporate finance point of view, the divestments of venture capital is carried out in June 2018. In this case, we will analyse the operations corresponding to companies such as: Ticketea, Social Point, Prexton Therapeutics and some others.
From a corporate finance perspective, we analyse the venture capital divestments carried out in June 2018. In this case, we will analyse the operations corresponding to companies such as: Ticketea, Social Point, Prexton Therapeutics and some others.
Firstly, Ticketea is a Spanish company dedicated to the management of a digital platform that promotes company events and sells tickets for them. Its investors/shareholders opted to sell their stakes, especially Seaya Ventures who owned a large percentage of the shares. 100% of the shares were sold to Eventbrite, an online platform for event management and ticket sales. The deal closed with a value of approximately €17M.
Also, the Canadian company dedicated to the provision of specific digital media solutions, AcuityAdshas agreed to acquire the 100% rights of Spanish company Adman Media for €12 million. Among the main sellers is venture capital firm Inveready Capital. Adman Media, based in Barcelona, is a developer of an SSP platform for outstream video formats.
Another operation took place in the pharmaceutical sector, LundbeckDenmark-based multinational pharmaceutical company Lundbeck has agreed to acquire 100% from Prexton Therapeutics (a research-based drug discovery company specialising in Parkinson's) owned by Ysios Capital, M Ventures, Forbion, Seroba and Sunstone Capital. The deal was completed for a final value of €905 million and will give Lundbeck global rights to the Parkinson's treatment.
On the other hand, Siemens Venture Capital, Caixa Capital Risc, Axis, Gilde Healthcare, Kurma Partners, Idinvest Partners, Boehringer Ingelheim have decided to sell their stakes in the developer of a diagnostic platform for hospitals that reduces the time to detect infections and resistance to certain antibiotics in patients, Stat -Dx. The buyer is a German company that provides technological solutions in the area of molecular medicine, called Qjagen. The transaction has been closed for a total of €154 million.
Similarly, Take-Two Interactive Software is a video game development company, which has acquired 100% from the Spanish company Social Point, a Barcelona-based company whose activity is also based on the development of online video games. The deal was closed for a total of €233M + a payment of €24.4M in cash and shares. The main sellers were Nauta Capital, Greylock Partners, Idinvest, Highland Capital and BBVA and the three founding partners.
Also, the British company specialising in home care, HomeServehas acquired the 70% from Habitissimo, a Spanish company based in Mallorca, dedicated to the development of a website that offers a directory of professionals and companies for home renovations, where the user can directly request quotes. The main sellers have been Cabiedes & Partners, some Business Angels and the Founders. The transaction was closed for a total of €43M.
Lastly, Michelin, the French tyre manufacturer, has acquired the Spanish company Restaurants.comThe company, a company dedicated to the development of an online restaurant reservation management platform, for an undisclosed amount. The sellers, in addition to the founding partners, include Seaya Ventures, Active Venture Partners, Atresmedia and a number of business angels. The acquisition allows Michelin to consolidate its position as a European online restaurant reservation group, expanding its offering to Spain, a high potential market.