TechTaffy

tech:

taffy

Vocus Buys IContact For $169 Million

By TechTaffy Desk

[Techtaffy Newsdesk]

Vocus, a provider of cloud-based marketing and PR software, has acquired iContact, a provider of cloud-based email and social marketing software. Under the terms of the deal, which closed on February 24, 2012, Vocus acquired iContact for approximately $91 million of cash, $9 million of common stock and $79 million of redeemable convertible preferred stock, aggregating $169 million of total consideration, net of $10 million cash acquired.

Vocus and iContact customers will experience no change to their current products and services.  Once integration of the iContact platform is complete later this year, customers will have the option of continuing to use a stand-alone product or upgrading to an integrated marketing.

IContact was founded in 2003 by Ryan Allis and Aaron Houghton while they were students at University of North Carolina. IContact is used by over 70,000 organizations, says Vocus.

Just in

Series A

Tembo raises $14M

Cincinnati, Ohio-based Tembo, a Postgres managed service provider, has raised $14 million in a Series A funding round.
Around the web

Raspberry Pi is now a public company — TC

Raspberry Pi priced its IPO on the London Stock Exchange on Tuesday morning at £2.80 per share, valuing it at £542 million, or $690 million at today’s exchange rate, writes Romain Dillet. 
Fundings

AlphaSense raises $650M

AlphaSense, a market intelligence and search platform, has raised $650 million in funding, co-led by Viking Global Investors and BDT & MSD Partners.
Around the web

Elon Musk’s xAI raises $6B to take on OpenAI — VentureBeat

Confirming reports from April, the series B investment comes from the participation of multiple known venture capital firms and investors, including Valor Equity Partners, Vy Capital, Andreessen Horowitz (A16z), Sequoia Capital, Fidelity Management & Research Company, Prince Alwaleed Bin Talal and Kingdom Holding, writes Shubham Sharma. 
IT

Capgemini partners with DARPA to explore quantum computing for carbon capture

Capgemini Government Solutions has launched a new initiative with the Defense Advanced Research Projects Agency (DARPA) to investigate quantum computing's potential in carbon capture.