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Mergers & Acquisitions

Iowa internet provider Xtreamair acquired by NextLink
Xtreamair, an internet service business operating in western Iowa and headquartered in Cushing, Iowa, has been acquired Nextlink Internet. Nextlink Internet is a rural-focused provider of high-speed broadband and voice services to residential, business, institutional and governmental customers in Texas, Oklahoma, Illinois, Iowa, Kansas, and Nebraska. The acquisition is part of Nextlink's expansion of broadband…
Limelight Health acquired by FINEOS for $75 million
Dublin-based insurtech business FINEOS has acquired Limelight Health for $75 million. FINEOS plans to expand its product offering with the acquisition of Limelight Health, a US-based provider of quoting, rating, and underwriting solutions for group and voluntary employee benefits. LimeLight Health, an insurtech software company, based in San Francisco, expanded its operations to Des Moines in…
ACT acquires adaptive learning platform ScootPad
ACT, the nonprofit behind the standardized college-readiness test has acquired ScootPad, a developer of online curricula for K-8 students. “With so many millions of students forced to learn at home during this difficult time, they need an online platform that fully enables and personalizes the learning process to adapt to their own needs, and that’s what…
Performance Livestock Analytics acquired by Zoetis
Ames-based agtech company Performance Livestock Analytics announced today that it has been acquired by New Jersey-based Zoetis. Zoetis, an animal health company that develops, manufactures and commercializes medicines, vaccines and diagnostic products, says acquiring Performance Livestock Analytics will help it accelerate progress in precision livestock farming and improve sustainability of producers' operations. “The addition of…
lienwaivers.io acquired by Built Technologies
Sioux City-based lienwaivers.io announced this week that it has been acquired by Nashville-based construction finance software company Built Technologies. Launched in 2015, lienwaivers.io is a cloud-based construction payments platform that integrates with common accounting and project management software to facilitate the exchange of lien waivers, ACH payments, W9s and 1099s. “Since we launched lienwaivers.io in 2015, we’ve been laser…
Smart Ag acquired by Raven Industries
Ames-based agtech company Smart Ag announced today that it has been acquired by Sioux Falls-based Raven Industries. The acquisition is part of Raven's larger strategy to become an industry leader in autonomous agriculture solutions. Complementing the Company’s Applied Technology division, a leading technology provider in the precision agriculture industry, this acquisition will be integrated into…
Flywheel acquired by WP Engine
Omaha-based Flywheel, a WordPress hosting and management platform, has been acquired by Austin, Texas-based WP Engine. WP Engine will absorb the Flywheel business and its more than 200 employees, integrating them into its operations, and allowing for more services surrounding its WordPress products. Flywheel was founded in 2012 by Dusty Davidson, Tony Noecker and Rick Knudtson. Davidson,…
ACT acquires Mawi Learning
Iowa City-based ACT announced today it has acquired Mawi Learning, an Illinois-based online learning curriculum that empowers K-12 educators & students with proven SEL tools that boost learning and build confidence. The acquisition of Mawi Learning is part of ACT's efforts to transform the company into a learning, measurement and navigation company. "Mawi Learning's mission and focus on improving…
Mergers & Acquisitions Archives | Page 4 of 5 | Clay & Milk
A central Iowa ag-tech accelerator has secured more backers and finally has a name. The Greater Des Moines Partnership first announced the accelerator last year, naming four initial investors. On Monday, the Partnership said the program will be called the "Iowa AgriTech Accelerator" and named three new investors. The new investors include Grinnell Mutual, Kent Corp. and Sukup Manufacturing, all Iowa companies. They join investors Deere & Co., Peoples Co., Farmers Mutual Hail Insurance Co. and DuPont Pioneer. Each investor has agreed to put up $100,000 for the first year of the accelerator. Startups entering the program will receive $40,000 in seed funding in exchange for 6 percent equity. Tej Dhawan, an angel investor and local startup mentor, is serving as interim director until the AgriTech Accelerator names a permanent leader. Dhawan held a similar role with the GIA before Brian Hemesath was named as managing director. As interim director, Dhawan said his main job includes hiring the accelerator's executive director, establishing a business structure and initial recruiting for the first cohort. The accelerator will place few filters, such as location and product, on the applicant pool, Dhawan said. "When you’re seeking innovation, innovation can come from every corner of the world so why restrict ourselves," he said. One area the the AgriTech Accelerator won't recruit from is biotech. For its first cohort, the AgriTech Accelerator will work out of the GIA's space in Des Moines' East Village, Dhawan said. A future, permanent home is still to be decided. The accelerator's program will host startups from mid-July through mid-October, ending with an event connected to the annual World Food Prize. The GIA, which the AgriTech Accelerator is based on, also ends with presentations at an industry event. The accelerator has also started lining up a mentor pool. The Iowa Corn Growers Association, Iowa Soybean Association and the Iowa Pork Producers Association have agreed to provide mentors, as has Iowa State University. While the AgriTech Accelerator is loosely based off of the GIA, it will differ in its business structure, Dhawan said. The GIA runs through a for-profit model for both operations and its investment fund. The AgriTech Accelerator will have a nonprofit model for its operations and a for-profit setup for its fund. Dhawan said the nonprofit model is being used so the accelerator can better work with other nonprofit partners, such as trade associations. "These are all organizations that are nonprofits and can be amazing stakeholders without ever having to be investors in the accelerator," he said. "It becomes easier to work with trade associations in their nonprofit role when we are also a nonprofit." When it's up and running, the AgriTech Accelerator would be one of a handful of ag-focused startup development programs in Iowa. Others include the Ag Startup Engine out of Iowa State University and the Rural Ventures Alliance from Iowa MicroLoan. Matthew Patane is the managing editor and co-founder of Clay & Milk. Send him an email at mpatane@clayandmilk.com.
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