| Intuit to Acquire Homestead Technologies
Intuit Inc. (Nasdaq:INTU) today announced it has signed a definitive agreement to purchase Homestead Technologies Inc., a leader in Web site and Web store solutions for small businesses. The cash transaction is valued at approximately $170 million, including the assumption of Homestead's outstanding options and restricted stock units. This transaction will enable Intuit to offer Web site creation and e-commerce solutions that help small businesses acquire and serve customers through the Internet, which are increasingly important factors to entrepreneurial success and business expansion. "This acquisition supports our growth strategy in small business by addressing an underserved need, and continues Intuit�s move beyond financial management solutions into helping small businesses solve other important problems,� said Brad Smith, senior vice president of Intuit�s small business group.
Medical device maker Carbylan raises $20M
Carbylan BioSurgery Inc. raised $20 million in its second round of venture funding. Vivo Ventures led the round, while Alta Partners and InterWest Partners also gave money. Albert Cha, M.D., of Vivo Ventures took a seat on Palo Alto-based Carbylan's board of directors as part of the financing. The company, started in 2005, makes medical devices used to treat rhinosinusitis and osteoarthritis. George Daniloff, M.D., is its president and CEO. .
26-11-2007: Juicy prospects for QSR with new high for FY07-FY09 profit
CIMB Research initiated coverage on QSR Brands Bhd last week with an outperform recommendation and a target price of RM5 based on the company's regional expansion plans, new product launches and possible acquisitions. The research house said the three factors underpinned its view that QSR's core net profits will scale to a new high every year from financial year 2007 to 2009 (FY07 to FY09). “Our target price is pegged to 16 times forward price over earnings, which factors in a 10% discount to the average valuation of bigger food and beverage (F&B) producers, namely Nestle (Malaysia) Bhd and Fraser & Neave Holdings Bhd." “Key re-rating catalysts are higher same-store sales growth and average ticket price, successful new markets and a substantial drop in commodity prices.
|
