The latest from TechCrunch
- Avnet To Acquire Bell Microproducts For $594 Million
- Screenwriting Software Company Scripped Merges With Zhura, Raises Funding
| Avnet To Acquire Bell Microproducts For $594 Million | Top |
| Avnet , a publicly listed global distributor of electronic parts, enterprise computing, storage and others products, has agreed to acquire Bell Microproducts in an all-cash merger for $7 per share. This equates to an equity value of about $252 million and a transaction value of approximately $594 million, assuming net debt for Bell of $342 million at face value as of December 31, 2009. The acquisition has been approved by the Boards of Directors of both companies and is subject to the approval of Bell’s shareholders as well as customary regulatory approvals. The transaction is expected to close in 60 to 120 days. Bell Microproducts distributes storage and computing technology products. The company was founded in 1988 and employs over 1,900 employees in 55 offices around the world. In calendar year 2009, Bell registered sales of approximately $3 billion – it currently expects to generate first quarter 2010 sales of $795 million to $815 million. Avnet has been around for way longer: originally founded by Charles Avnet in 1921, it was incorporated in 1955 and went public 4 years later. The company boasts offices in over 300 locations across the globe, and employs roughly 12,000 people. Avnet’s share price ticked off at 28.37 in recent trading and boasts a $4.3 billion market cap – Bell shares are up 28.62% in pre-market trading. | |
| Screenwriting Software Company Scripped Merges With Zhura, Raises Funding | Top |
| Scripped.com , a San Francisco-based developer of online screenwriting software, has merged with competitor Zhura . Financial terms of the merger were not disclosed, although Scripped said the deal size is in the “seven-figure range”. In addition to merging with Zhura, Scripped also announced that it has raised $250,000 in new funding from private angel investors. Co-founder Sunil Rajaraman remains CEO of the merged company, while Break Media CEO Keith Richman and co-founder and former President of BitTorrent Ashwin Navin have been added to its Board of Advisors. Zhura.com was founded in 2007 and is based in Boston. Like Scripped, the company provides screenwriters with tools that enable them to work on their writings online, whether individually or in collaboration with other writers, friends or even the Web community as a whole. Amusingly, the Zhura website still boasts a list of application features in comparison with other players in this space … including Scripped. Scripped, founded in 2008, used to be based in Los Angeles, but has recently moved to San Francisco to become part of technology incubator i/o ventures (more about them here ). The company says that its community of registered screenwriters is now 60,000 strong, effectively doubling its user base thanks to the merger with Zhura, with a new one signing up every 20 minutes. How long until one of them gets his or her work published and widely distributed? That would really put Scripped on the map. CrunchBase Information Scripped Information provided by CrunchBase | |
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