Tech roundup: Mergers, acquisitions, HQ2 updates — oh my!

by Katie Fustich
September 20, 2018
image via shutterstock

Encast and Soceana merge to do some serious good

Earlier this month, Austin-based cloud-management platform Encast announced it would be merging with Soceana, a cryptocurrency startup based in Philadelphia. The merger appears to be a natural fit for both companies. “We’re revolutionizing how people connect with each other and the causes they love: uplifting personal relationships, workplace culture, customer affinity and corporate social responsibility along the way,” said CEO and co-founder Leo Ramirez Jr. in a press release.


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HQ2 location to be announced this year, sayeth Bezos

Back in January, Austin was selected as one of 20 finalist cities for Amazon’s coveted HQ2 project. Since that announcement, speculation has run rampant as Amazon has kept mum on one of the hottest topics in tech. Now, in a recent interview, Amazon CEO Jeff Bezos stated that a decision on HQ2’s location will be made “before the end of the year.” This means, that in one of the next 102 days, we will know whether or not Austin is the future home of HQ2. Hold on to your seats, people. [CNBC]


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UT among top producers of startup founders; female founders

These stats don’t lie: the 2018 PitchBook report is out, and things are looking bright for University of Texas alumni. According to the report, UT ranks at number nine among the top 50 undergraduate programs responsible for producing the greatest number of entrepreneurs, number of companies and amount of venture capital raised. Also promising? UT ranks at number 10 among the top undergraduate programs for female founders, specifically. These lists see UT ranked among Ivy League institutions like Stanford and Harvard. Though, for what it’s worth, UT beat Princeton in both categories. [PitchBook]


Hal Leonard
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Hal Leonard acquires Austin’s Groove3

Hal Leonard, of the biggest music publishers in the biz, recently announced it had acquired Groove3. The latter company, based in Austin, publishes music technology tutorial videos on its website, which has been active since 2003. While financial terms of the deal remain confidential, Groove3 will continue to be based in Austin and produce content for distribution through Hal Leonard. [Sentinel]


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Austin’s GTY Technology Holdings acquires Chicago’s CityBase for $160M

Austin-based acquisition company GTY Technology Holdings has announced the acquisition of Chicago payment startup CityBase, to the tune of $160 million. CityBase was founded in 2012 and provides a platform where government agencies can accept payments for things like property taxes, tickets and more. When the acquisition is finalized, CityBase will continue to operate as an autonomous unit of GTY. [American Inno]

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