Editor's note: Added an update on Bridj shutting down and a clarification to RaceMenu's sale of its race timing division.
Welcome to another installment of our BostInno Departed series, our way of tracking Boston-area tech companies that are no longer independent or no longer exist. For April, no startups shut down as far as we could tell (update: Bridj is shutting down), but there were a couple of big deals on the acquisition side, amounting to nearly $700 million in total deal value.
Here are the BostInno Departed from April 2017:
The Shuttered:
• Bridj, a Boston-based data-driven shuttle bus service, said it's shutting down after a deal with a "major car company" fell through. Read the full story here.
The Merged and Acquired:
• Xcerra, the Norwood-based parent company of four brands in the semiconductor and electronics manufacturing industries, reached an agreement to be acquired for $580 million by Chinese private equity group Unic Capital Management. Unic is paying a 16 percent premium at $10.25 per share for the publicly traded Xcerra.
• PrismHR, a Southborough-based provider of HR software, sold a majority stake in the company to Summit Partners for over $100 million, Dan Primack reported in Pro Rata this morning. The company later confirmed the news in a press release, saying it will use the proceeds of the sale to accelerate development and expand its software and services.
• Ascend Learning, a Burlington company that makes educational software, was sold to The Blackstone Group by Providence Equity Partners, reportedly for over $2B.
Other Deals:
• RaceMenu, a Boston-based provider of event management software, reached an agreement to sell its race timing division to Second Wind Race Timing, which provides timing services for triathlons, trail runs and other running events. RaceMenu founder J. Alain Ferry told me it's a six-figure all-cash deal. He said RaceMenu sold its race timing division to focus on its software business, which represents a majority of its revenue.
If you think there’s a startup missing from this list, email me at dmartin@americaninno.com.
