InfoSpace’s unusual evolution continues with $287 million purchase of TaxACT

infospace

InfoSpace, the dot-com survivor that has pivoted multiple times throughout its 16-year history, is embarking on yet another voyage. The Bellevue company today announced the acquisition of TaxACT, the number two player in online tax preparation software. InfoSpace is paying $287.5 million for TaxACT, with plans to keep the company as a subsidiary operating out of… Read More…

Venture-backed IPO and M&A deals decline in 2011, but it’s not all bad news

Photo: Mykl Roventine

There were some blockbuster deals in 2011, including Electronic Arts’ buyout of PopCap Games and Microsoft’s acquisition of Skype. But the number of M&A transactions and IPOs involving venture-backed companies declined compared to the previous year. According to Dow Jones VentureSource, corporate acquirers bought 460 companies during 2011, a 13 percent drop in M&A activity. But… Read More…

MicroRNA startup Groove Biopharma scores $6 million

groovebipharma1

It’s been a bit slow in Seattle venture capital circles in the past few months. But some of the region’s leading biotech investors are doing their part to pick up the pace as Groove Biopharma today is announcing $6 million in second round of financing. Backers of the company, housed at the biotech business incubator… Read More…

DOJ wants delay of AT&T case

att-tmobile-logo3

U.S. District Judge Ellen Segal Huvelle said today she is considering a request by the DOJ to dismiss or postpone the antitrust case involving AT&T’s $39 billion bid for T-Mobile USA. “We don’t have any confidence that we are spending all this time and effort and the taxpayers money and that we’re not being spun,”… Read More…

Lockerz continues acquisition spree, buys travel site Off & Away

© Hayley Young Photography

In what could best be described as a “talent acquisition,” Seattle startup Off & Away has been purchased by fast-growing social networking company Lockerz, GeekWire has learned. Eleven of the 12 employees at Off & Away have joined Lockerz, which is also based in Seattle. Lockerz plans to shut down the Off & Away service,… Read More…

Looking to salvage bid, AT&T may seek buyer for up to 40 percent of T-Mobile’s assets

attmos

Facing U.S. government roadblocks, AT&T is considering selling up to 40 percent of T-Mobile’s assets in order to preserve its massive bid for the Bellevue carrier, reports Bloomberg News. That’s a far higher percentage than what had been contemplated in the past, signaling AT&T’s desire to own T-Mobile, even at significant costs. Analysts say that… Read More…

Kindle rival Kobo sells for $315M to Japanese e-commerce giant

kobo-subscriptions

Kobo, the 2-year-old Canadian maker of electronic reading devices, has been sold for $315 million in cash to Japan’s Rakuten. Toronto-based Kobo — a spin-out of Indigo — raised $50 million in April. In addition to Indigo, Kobo was backed by Cheung Kong Holdings. “Kobo provides one of the world’s most communal eBook reading experiences… Read More…

Social media agency Spring Creek acquired by Mediabrands

springcreek111

Spring Creek Group, a five-year-old social media agency, has been acquired by Interpublic Group’s Mediabrands unit for an undisclosed price. Co-founded by Clay McDaniel, Spring Creek’s clients include Microsoft, HTC, US Bank and LiveNation. Mediabrands plans to retain the Spring Creek name, and its 35 employees are all moving to Mediabrands. McDaniel writes in a… Read More…

WPP’s Kantar unit buys Global Market Insite

gmi1

Kantar, a unit of advertising giant WPP, has purchased Bellevue-based Global Market Insite for an undisclosed price and merged it with online market research firm Lightspeed Research. Together, the companies said that they will “create one of the world’s largest online panel and sample providers.” As a result of the deal, David Day of Lightspeed… Read More…

Digital Chocolate finds a sweet deal, gobbles up Sandlot Games

cakemania1

There’s been quite a bit of M&A activity in recent weeks in the casual gaming industry, highlighted by Electronic Arts’ blockbuster buy of PopCap Games. But now a smaller Seattle area gaming company has found a good match. Sandlot Games, the maker of of Cake Mania, Super Granny and Tradewinds, has been acquired for an… Read More…