The battle against traffic receives some help with new data-driven shuttle bus
Bridj, a Boston-based startup, will soon offer shuttle rides in Austin that allow riders to schedule rides and get picked up in a Wi-Fi enabled shuttle with a guaranteed seat. It doesn't follow routes or schedules and instead uses learning algorithms to create real-time express routes based on user demand. [Austin Inno]
Planview acquires San Francisco's Innotas
Austin-based software developer Planview announced it has acquired Innotas, a developer of cloud-based, IT project portfolio management (PPM) software. Financial terms were not disclosed. According to the two companies, they now have a combined 700 employees and $180 million in annual revenues. [Texas Tech Pulse]
CognitiveScale nabs a $21.8M Series B round
Austin’s CognitiveScale, developer of cloud-based machine intelligence software, announced a $21.8 million Series B round of financing on Aug. 2. The new infusion of capital came from Norwest Venture Partners and Intel Capital to increase global sales and expedite development of its product portfolio. [Built In Austin]
Vector Capital acquires Austin's Sizmek for approximately $122M
Sizmek, a global open ad management company that delivers omni channel campaigns, announced it has entered into a definitive agreement with Vector Capital, under which an affiliate of Vector will acquire all of the outstanding shares of Sizmek common stock for $3.90 per share in an all-cash tender offer. [Globe Newswire]
Oracle's East Austin campus is underway
Construction has begun on software giant Oracle's 25-acre future site near Lakeshore Blvd. in the East Riverside corridor. Oracle's development marks the first major corporation to build office locations in this area of Austin. [Austin Business Journal]
Edtech company buys Compass Learning to offer complete K-12 digital learning solution
Edgenuity, based out of Scottsdale, AZ, announced it has acquired Austin-based digital curriculum provider Compass Learning to expand its grade level courses across K-12. Prior to the deal, Edgenuity offered courseware in grades 6-12. The financial details of the acquisition have not been disclosed. [Press Release]
Owlchemy Labs raises a $5M Series A round
The Austin-based VR studio, known for its content, just secured a $5 million Series A round led by Qualcomm Ventures with participation in the round also coming from HTC, The VR Fund, Colopl Next and Capital Factory. The company recently made headlines when it announced it would be bringing TV show Rick and Morty into the VR world. [TechCrunch]
Artisan Infrastructure acquires another Austin company, rebrands itself
Austin developer of cloud-based technologies and management systems, Artisan Infrastructure, bought Workspace-as-a-Service (WAAS) developer Vertiscale Inc. (also Austin-based), for an undisclosed amount, and has rebranded itself as Neverfail. [Business Wire]
SparkCognition launches first ever cognitive antivirus solution
SparkCognition (2015's Hottest Start Up in Austin by SXSW) introduced DeepArmor, an AI-powered anti-malware platform protecting networks from known and even the unknown cyber security threats, at Black Hat 2016, in Las Vegas. [Press Release]
Bento Picnic turns down buyout proposal
Executives at Bento Picnic, the meal kit company, declined a deal to be acquired by Farmhouse Delivery Inc., siting they wanted more time as a standalone company. Created in 2015, Bento Picnic now has five employees and prepares health-conscience food kits for pickup, delivery and catering. [Austin Business Journal]
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