SunGard acquires Aceva, a receivables management co.
SunGard, a business processing software company, said it has acquired San Mateo, Calif.’s Aceva Technologies, a provider of receivables management software solutions.
The amount was undisclosed.
Aceva had raised at leat $55.5 million in venture backing from Accel Partners, America Online, Clayton Dubilier & Rice, CLearstone Ventures, IdeaLab Capital Partners, Oracle and Sequoia Capital.
From the statement:
Aceva will be marketed as AvantGard Aceva under the AvantGard Receivables brand. In October 2005, SunGard acquired GETPAID to extend the… Continue Reading
Bolt hosed, shows the risks of video
GoFish, a video-sharing site much like YouTube, has acquired another video site, Bolt, to save that company from lawsuits that threatened to sink it.
The $30 million transaction, first reported by the NYT, is reportedly being used by New York’s Bolt to pay a settlement of “several million dollars” to Universal Music Group, which had sued Bolt for copyright infringement. (See merger filing here)
Thus ends the topsy-turvy ride of Bolt, the company started in 1996 to… Continue Reading