Exits in Austin, Pitch NASA, Diversity in Energy, & More TX Tech
Let’s catch up with the latest innovation news from Texas.
—Accruent, an Austin-based maker of resource management software, is being acquired by Fortive (NYSE: FTV) for about $2 billion in cash, according to a press release. Fortive, which is based in Everett, WA, is buying Accruent from Genstar Capital, a San Francisco private equity firm, which owned Accruent for two years.
—Another Austin software firm, Alchemy Systems, is being picked up by Intertek Group for $480 million in cash, according to a press release. Alchemy, which was started in 2003 and employs 270 people, develops monitoring and training software in the food sector. “As corporations around the world increase their focus on quality, safety, productivity, and compliance, closing skills gaps to deliver only the highest customer service standards has become mission critical for clients,” André Lacroix, CEO of London-based Intertek, said in a prepared statement.
—Staying in Austin, this time with local fintech company Q2 Holdings (NYSE: QTWO) acquiring Cloud Lending, a San Mateo, CA-based maker of lending and leasing software. Terms of the deal were not disclosed. Q2 was founded 14 years ago and went public in a $110 million IPO in 2014. The company sells software to financial institutions so that they can offer banking services online and via mobile devices.
—The Texas Medical Center’s TMCx accelerator has kicked off a new session of its mentorship program for medical device startups. A third of the 23-member class is from outside of the United States, with startups from Canada, Germany, Australia, England, Israel, and Ireland. The startups will participate in a pitch day Nov. 14.
—NASA is hosting a pitch night Aug. 27 for innovations in artificial intelligence, autonomous robots, and biotech, among other sectors. The Houston event is part of NASA’s Ignite the Night series in which the space agency is soliciting innovation ideas from startups. Another pitch event will be held Aug. 20 in Denver. Applications to pitch in Houston must be received by Aug. 17.
—Pink Petro, a Houston-based social media community for women in the energy industry, has launched what it calls an “energy inclusion index.” The survey asks takers a variety of questions related to culture and inclusion that Pink Petro says are hard to quantify: “a sense of belonging, professional development opportunities, the ability to voice opinions, being valued, and fairness—in promotions, compensation, and feedback.” The firm plans to share the results at an event in October.
—Fetch Package, a Dallas-based delivery startup, has raised $3 million in a round led by Silverton Partners in Austin, according to Austin Inno. Austin-based Capital Factory and Venn Ventures in Dallas also participated in the round. The startup, which focuses on deliveries to multifamily buildings such as apartment complexes, is now moving to the Texas capital by the end of the year, according to the report.