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Shive-Hattery acquires St. Louis architecture firm
Cedar Rapids-based architecture firm Shive-Hattery has acquired KdG Architects, a 20-person architecture, engineering and interior design firm in St. Louis, Missouri. The acquisition expands Shive-Hattery’s reach in the regional and national markets. Shive-Hattery is a 450-person architecture and engineering firm headquartered in Cedar Rapids with 14 design offices in Arizona, Illinois, Indiana, Iowa, Missouri, Nebraska, Ohio…
LightEdge acquires IT solutions provider NFINIT
LightEdge, a provider of colocation, cloud, and managed service solutions, announced this week the acquisition of NFINIT, an infrastructure solutions provider based in San Diego. “We are extremely pleased to join forces with a very talented and quality NFINIT team,” said LightEdge CEO Jim Masterson in release. “Thanks to NFINIT’s reputation as the incumbent and…
Workiva acquires ParsePort for $100 million
Workiva announced today that it has acquired Denmark-based ParsePort for $100 million. ParsePort has been assisting companies in Europe with financial reporting for more than a decade. ParsePort solutions help authorities, banks, insurance companies, pension funds, auditors, publicly listed and smaller companies all over the world file financial reports in accordance with GAAP requirements. “Workiva offers…
Eastern Iowa broadband company “ImOn” to be acquired by Goldman Sachs
ImOn Communications (ImOn), a broadband company based in Eastern Iowa, today announced that it has signed definitive documentation to be acquired by Goldman Sachs Asset Management’s infrastructure investing business. As part of the transaction, Goldman Sachs Asset Management will make new investments to help accelerate ImOn’s growth in FTTP data, video, and voice services to homes…
Growers Edge acquires FarmlandFinder’s software assets
Growers Edge, a provider of data-driven financial technology (fintech) solutions for the agricultural industry, announced today the acquisition of the lending and appraisal software, as well as the farmland sales website from FarmlandFinder. The acquisition by Growers Edge will build on the company’s innovative warranty-backed Crop Plans and financial software and services for the ag industry.  FarmlandFinder was…
LightEdge acquired by private investment firm GI Partners
LightEdge, a Des Moines based provider of colocation, cloud and managed service solutions, announced today that it has been acquired by private investment firm GI Partners. Founded in 2001, GI Partners is a private investment firm with over 100 employees based in San Francisco, California with offices in New York, Chicago, Greenwich, CT, and Scottsdale, AZ. GI Partners is acquiring LightEdge through its…
Food rescue app ChowBank acquired by MEANS Database
MEANS Database, a nonprofit that connects food donors to pantries and kitchens, announced today at the World Food Prize Foundation’s Iowa Hunger Summit its acquisition of Des Moines-based food rescue app ChowBank. Since its debut in 2015, ChowBank helped users like Eat Greater Des Moines as the organization rescued nearly twenty million pounds of food…
Workiva buys OneCloud, marking first acquisition in its 13-year history
Cloud-based business reporting platform Workiva announced its first acquisition earlier this month, acquiring OneCloud, a New York-based startup that offers code-free integration, automation, and data preparation for many complex technologies.  OneCloud is a four-year-old company that enterprises use to integrate and unify data from thousands of applications across on-premises or cloud infrastructure, allowing businesses to generate insights…
John Deere buys robotics company for $250 million
Quad Cities-based John Deere is acquiring Bear Flag Robotics, a Silicon Valley startup that makes fully autonomous tractors for farms for $250 million. Bear Flag retrofits regular tractors with sensors, control systems, computers, and communications systems needed to operate autonomously. The company’s tech lets a lone farmer remotely oversee a fleet of robot tractors autonomously…
Boston Scientific acquires University of Iowa startup Farapulse for $295M
Boston Scientific has exercised its option to acquire the remaining shares of University of Iowa startup Farapulse, which has developed a method for precisely and safely treating abnormal heart rhythms. Last September, Boston Scientific signed an investment agreement with an option to acquire Farapulse. Boston Scientific has been an investor in Farapulse since 2014 and currently holds an…
Mergers and Acquisitions Archives | 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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