PROVIDENCE – This month’s Brown Venture Forum will be held on Thursday, May 20 from 6 p.m. to 7:30 p.m. in room 168 of the Barus & Holley Building on the Brown University campus.
Titled “Money and Power: Valuation and Control,” the program will feature a candid, practical examination of company valuation metrics and control issues – important considerations for any company raising equity money whether from angels, venture capitalists or other investors.
Panelists will include Mark Canha, an advisory board member of Prism Venture Partners; Duane DeSisto, president and CEO of Insulet Corp.; and Vincent Giordano, managing partner of e-Business Properties. The trio will describe their “in-the-trenches” experience negotiating hot-button deal terms and living with the consequences in both good and bad times. A networking reception sponsored by Hinckley, Allen & Snyder will follow the meeting. More information can be found online at www.brownventureforum.org.
GTECH completes Spielo Manufacturing acquisition
WEST GREENWICH – GTECH Holdings Corp. recently announced that it has completed the acquisition of Spielo Manufacturing Inc., a provider of video lottery terminals and related products and services. The purchase price for Spielo was an all-cash transaction of approximately $150 million.
“The acquisition of Spielo furthers our growth strategy in our core lottery space by broadening and strengthening our offerings in the rapidly growing VLT business,” said GTECH President and CEO W. Bruce Turner, in a release. “Spielo is a great strategic fit for GTECH, with many opportunities to leverage in areas such as content, online technology and other innovations.”
Spielo will operate as a wholly owned subsidiary of GTECH and its manufacturing operations will remain in Canada. GTECH expects the company to provide a revenue contribution of $70 million to $75 million beginning in the second quarter of fiscal 2005.