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IBM in acquisition talks with Atlanta's Silverpop

Craig Warga/Bloomberg IBM Inc. is said to be in acquisition talks with Atlanta's Silverpop. Urvaksh Karkaria[1] Staff Writer- Atlanta Business Chronicle Email[2] | Twitter[3] | Google+[4] | LinkedIn[5] IBM[6] Corp. is in acquisition talks with Atlanta marketing automation firm Silverpop, according to multiple sources. The Armonk, NY-based computer networking company is said to be offering about three-times Silverpop’s annual revenues, which are estimated to be $80 million-$90 million. That would translate into an acquisition price of up to $270 million. A 3X return would be in line with how much Salesforce reportedly offered for Silverpop in 2010, a source said. Silverpop CEO Bill Nussey[7] and IBM did not return calls. Deal talks between the companies are believed to be far along. “I’d be surprised if it didn’t happen,” a source said, noting the deal could get done within 30 days. Silverpop helps marketers interact with customers via e-mail, social networks, mobile and websites. Using Silverpop software and services, marketers monitor customer behavior--such as whether a customer commented on a company blog post, viewed a marketing video or talked about the business on Twitter. That data can help fine-tune the messaging. Silverpop, which employs about 500, is part of a cluster of marketing technology companies in metro Atlanta. The space is seeing significant M&A activity with Atlanta’s Vitrue Inc.[8] being acquired by Oracle[9] Corp. and Pardot being taken over by ExactTarget. Silverpop, which has been under pressure for an exit, has been considering strategic alternatives, including an IPO. Last summer, Nussey told Atlanta Business Chronicle he was not focused on selling[10] the company, but building a sustainable business for the long term. "We're looking to grow a great business, and at some point we've got to get liquidity for our investors," Nussey noted in May. If along the way, Silverpop gets…
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Hunt on for survivors of fatal Snohomish County slide

Twitter The Twitter hashtag #530Slide contains images, updates and inquiries from people trying to locate loved ones of area residents missing after a massive hillside gave way near the tiny town of Oso, Wash. Steven Goldsmith[1] Assistant Managing Editor - Print- Puget Sound Business Journal Email[2] | Twitter[3] More than 100 rescuers worked to find 18 residents still unaccounted for after a massive Snohomish County hillside gave way Saturday, destroying six homes, burying a highway and killing at least three. The debris crashed through homes near the tiny town of Oso, a dozen miles east of Arlington, where the debris also has plugged up the North Fork Stillaguamish River — raising a hazard of sudden flooding that could affect more heavily populated areas to the west. Crews labored on Sunday to pierce through that debris to allow some of the water to flow. Meanwhile, family members of area residents posted messages on the Twitter hashtag #530slide[4] in a frantic search for the missing, who numbered 18, according to Snohomish County officials[5] Sunday afternoon. Gov. Jay Inslee[6] expressed condolences to the victims, and his office set up a webpage with updated information[7] about the disaster. A Harborview Medical Center spokeswoman said five survivors were being treated there — a 6-month-old baby and an 81-year-old man who were in critical condition, two men in serious condition and one woman in satisfactory condition. The slide crushed at least six houses, the Herald reported, carrying them in splinters across Highway 530. The slide, estimated to be at least 135 feet wide and 180 feet deep, stretches a mile from where it broke off from the north side of the river. References^ Steven Goldsmith (feeds.bizjournals.com)^ Email (feeds.bizjournals.com)^ Twitter (twitter.com)^ Twitter hashtag #530slide (twitter.com)^ according to Snohomish County officials (wa-snohomishcounty.civicplus.com)^ Jay Inslee (feeds.bizjournals.com)^ a webpage with…
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Triple threat: Nashville’s top lenders set the pace

Nathan Morgan | Nashville Busine From left: Claire Tucker, Terry Turner and Ron Samuels Scott Harrison[1] Staff Reporter- Nashville Business Journal Email[2] | Twitter[3] Music City’s three largest local lenders —Pinnacle, CapStar and Avenue banks — are a force within the Nashville banking community, making fast gains and posting results like none of their competitors. The three upstarts — all heirs to the city’s former power lenders before the last shakeup of mergers with regional banks in the 1990s and early 2000s — are growing aggressively in the aftermath of the recession. All three have significantly expanded their loan books and assets in the past two years, carving away at regional banks’ share of the Nashville market and distancing themselves from Middle Tennessee’s pack ... Scott Harrison covers government and economic development, banking and law. References^ Scott Harrison (feeds.bizjournals.com)^ Email (feeds.bizjournals.com)^ Twitter (twitter.com)...
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Legislature OKs downtown investment bill

Georgia's revenue from various taxes went up only 1.1 percent in March, as sale tax revenue was down for the first time in months. Dave Williams[1] Staff Writer- Atlanta Business Chronicle The General Assembly gave final passage Tuesday to scaled-back legislation encouraging private investment in downtown redevelopment projects across Georgia. The state Senate voted 46-6 to create a revolving, low-interest loan fund to be distributed by the Georgia Department of Community Affairs to local governments or development authorities to help finance downtown improvement projects. Introduced last year in the Georgia House of Representatives by Rep. Allen Peake[2], R-Macon, the bill called for offering $30 million a year in tax credits to developers and property owners for new construction and renovation of existing buildings within designated downtown districts. But when the bill failed to make headway, supporters came back this year with a proposal to limit the fund to $5 million a year for up to four years, not to exceed $20 million. The House passed the bill 160-15 earlier this month. It now goes to Gov. Nathan Deal[3] for his signature. Dave Williams covers Government References^ Dave Williams (feeds.bizjournals.com)^ Allen Peake (feeds.bizjournals.com)^ Nathan Deal (feeds.bizjournals.com)...
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Deval Patrick embarks on trade mission to Latin America with local business leaders

Courtesy of the Patrick administration. Deval Patrick is leading another trade mission, this one to Panama and Mexico City. Jon Chesto[1] Managing Editor, Print- Boston Business Journal Email[2] | Twitter[3] | Google+[4] Gov. Deval Patrick[5]’s upcoming trade mission to Latin America sprang from a new airline’s arrival at Logan Airport, and the governor is hoping it will end with another airline joining the crowd. Patrick will start his trip Monday morning by traveling to Panama City on Copa Airlines, which started flying between Logan and Panama last year. Among the items on the governor’s to-do list for the weeklong trip: convincing another carrier to start offering direct flights between Boston and Mexico City. A direct flight to Mexico City would be a major coup for Patrick, whose transportation team over at Massport has added several overseas carriers in the past few years. But that’s by no means the only thing Patrick wants to accomplish. Patrick tells me that he had promised to make the trip to Panama after Copa decided to come to Boston — if there would be potential partners in the innovation sector on the other end who could meet with state officials and local business leaders. Patrick says both Mexico and Panama have those potential partners, in abundance. “Our growth strategy is to invest in education, innovation and infrastructure,” Patrick says. “We’re interested in opening up new markets or strengthening existing ones in places where the growth strategy is similar to ours.” Patrick’s entourage will include nearly 20 administration officials and business executives, along with the requisite staff support. A spokeswoman says the trip will cost the state no more than $80,000 — business executives pay their own way — compared to the (less than initially projected) $130,000 in state funds spent on Patrick’s trade mission to…
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Commercial/multifamily mortgage debt erases recession declines

Mark Holan[1] Staff Reporter- Washington Business Journal Email[2] | Other[3] The level of outstanding commercial and multifamily mortgage debt increased by $41.2 billion, or 1.7 percent, in the fourth quarter of 2013, ending the year by erasing the declines caused by the recession, the Mortgage Bankers Association reported[4] Wednesday. Life insurance companies, commercial mortgage-backed securities, collateralized debt obligations and other asset-backed securities all increased their holdings. On a year-over-year basis, the amount of mortgage debt outstanding at the end of 2013 was $90.5 billion higher than at the end of 2012, an increase of 3.7 percent. "Simply put, it was a strong year," Jamie Woodwell[5], the MBA's vice president of commercial real estate research, said in a statement. Mark Holan covers the economy and money — banking, finance, private equity, corporate accountability and professional services. References^ Mark Holan (feeds.bizjournals.com)^ Email (feeds.bizjournals.com)^ Other (twitter.com)^ Mortgage Bankers Association reported (feeds.bizjournals.com)^ Jamie Woodwell (feeds.bizjournals.com)...
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