VC Backed IPO Equal Zero in Q2 '08

[David Sandusky]

I just read in my Sept. 2008 Inc. Mag that IPOs hit a 30 year low including zero venture capital backed IPOs in the second quarter of 2008. VCs need to pay off their investors so the economy, Sarbox and other reasons for the decline will find a way to pass. Besides, great ideas and teams succeed in any condition (Google IPO - 2004).

Here is this week's M&A and IPO report compiled from AIRS newsletter.

IPO - Information Technology Services

Consonus Technologies, Inc.

Consonus Technologies is a provider of IT infrastructure, data center solutions, and related management services. The company focuses on addressing customers' critical needs related to data center availability, data manageability, disaster recovery, and data consolidation.
Location: Cary, NC
Empoyees: 214
Date: 8/18/2008
NASDAQ: DCTI






M&A - Banking

Buyer: Wells Fargo & Company, San Francisco, CA

Target: Century Bancshares, Dallas, TX



California-based banking giant Wells Fargo will expand its presence in Texas and move into Arkansas as it acquires Century Bancshares and its 32 branch locations, which operate as Century Bank. The all-stock deal adds to Wells Fargo all-ready considerable presence in Texas, where it currently has approximately 600 locations.
Austin (Texas) Business Journal, August 14, 2008






M&A - Charter & Other Nonscheduled Airplane Passenger Services

Buyer: General Dynamics Corporation, Falls Church, VA

Target: Jet Aviation Management AG, Zurich, Switzerland



General Dynamics, a leading U.S. builder of aircraft and ships, will acquire Zurich-based Jet Aviation, a business jet charter and maintenance-services provider, for about $2.25 billion. Jet Aviation, a company with 5,600 employees, provides aircraft repair and overhaul at more than 25 airport facilities worldwide.
The Wall Street Journal, August 19, 2008






M&A - Computer Software

Buyer: JDA Software Group, Inc., Scottsdale, AZ

Target: i2 Technologies, Inc., Dallas, TX



JDA Software Group, a provider of supply-chain management software, has entered into an agreement to acquire i2 Technologies, which also provides supply-chain management software. The deal, valued at $346 million, is aimed at creating a best-in-class product solution.
Dallas Business Journal, August 11, 2008






M&A - Drug Stores & Pharmacies

Buyer: CVS Caremark Corporation, Woonsocket, RI

Target: Longs Drug Stores Corporation, Walnut Creek, CA



Drug store giant CVS Caremark will acquire Longs Drug Stores for about $2.6 billion. The move will give CVS access to more than 500 Longs locations in the western United States. Upon completion of the acquisition, CVS will have more than 6,800 stores in 41 states.
The Wall Street Journal, August 12, 2008






M&A - Foodservice & Food Retail Equipment Manufacturing

Buyer: The Middleby Corporation, Elgin, IL

Target: TurboChef Technologies, Inc., Atlanta, GA



Middleby Corp., a maker of commercial food-preparation equipment, will acquire TurboChef Technologies, a company which makes similar equipment, for $191 million in cash and stock. Although the companies have some customers in common, their products are different; Middleby is a leading supplier of commercial pizza ovens, where TurboChef makes oven equipment that's smaller in size for use in convenience stores and coffee shops.
Chicago Tribune, August 19, 2008