American Underground

$1 Billion, 6 Acquisitions, 24 Mos., Durham, NC …

$1 Billion, 6 Acquisitions, 24 Mos., Durham, NC …

At one Durham, NC hot spot, SIX companies, just a hundred yards of each other, have been acquired for well over a combined one billion dollars within the last 24 months.

From this same spot, Google has picked and funded back-to-back Demo Day champs (2014 – Windsor Circle and 2015 – Mati Energy).

Clearly, something remarkable and deserving of your attention is happening in the Bull City and specifically at the transformed American Tobacco Campus and its American Underground tech hub. Ten years ago, American Tobacco Campus was a shuttered cigarette factory. A transformative public-private partnership determinedly brought it back — with billion dollar results. In addition to the six acquired businesses, the campus is home to dozens more companies, including the world headquarters of Burt’s Bees.

The recently acquired companies are Bronto Software (just this week acquired by NetSuite for $200 million), Appia (acquired by Mandalay Digital for $100 million), Automated Insights (acquired by Vista Equity Partners-owned STATS for an undisclosed amount), Square 1 Bank (acquired by Pacific West Bank for stock valued at $849 million), Two Toasters (acquired by Ticketmaster for an undisclosed sum) and DigitalSmiths (acquired by TiVo for $135 million).

 

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