Fintech company Cayan is acquired for $1.05B
Fintech startup Cayan is getting acquired by Total System Services for approximately $1.05 billion. Cayan, a payment processing company founded in 1998, works with more than 70,000 merchants, creating software to support checkout systems and other point-of-sale technology for retailers. The transaction is expected to close in the first quarter of 2018. Total System Services is headquartered in Columbus, Georgia, and currently employs around 11,500 workers. [The Boston Globe]
OpenBay plans Series A, partners with eBay
OpenBay, a Cambridge-based startup that offers an online marketplace for consumers to search and compare car repair rates, has partnered with eBay Motors to start selling its software directly to car repair shops. The partnership will enable auto repair shops to search and compare prices for car parts from eBay Motors’ inventory using Openbay’s enterprise software platform. The company also said they plan to start raising a Series A financing round in the next year to invest more in marketing, sales and product development. Four years ago, OpenBay raised its initial seed round from investors that included Google Ventures, Andreessen Horowitz, Boston Seed Capital and Stage 1 Ventures. [BostInno]
CollegeVine to assist 100 Indian schools to provide overseas education
CollegeVine, a local startup offering student mentoring and college admissions guidance for high schoolers and their families, announced this week that it is partnering with the education unit within India-based Infrastructure Leasing & Financial Services (IL&FS) to offer overseas education guidance to over 100 Indian schools and families. The services will be offered to Indian students who want to apply to colleges and universities in the United States. In the first year, CollegeVine will work with 100 schools in major cities including Mumbai, Hyderabad and Chennai. Schools will purchase CollegeVine services on behalf of their students and families will also be able to sign up for CollegeVine directly. [Press Release]
PULSE@MassChallenge names 2018 cohort of top digital health startups
Startup accelerator PULSE@MassChallenge announced the 32 digital health startups joining the 2018 cohort, which will begin in January. Startups accepted into the 2018 class, which were handpicked from over 500 applicants, will have access to tailored curriculum, over 4,000 square feet of co-working space and the opportunity to apply for shares of $50,000 in need-based scholarships. At the end of the program, the startups will compete for over $200,000 in cash prizes. From a startup focused on creating a better patient messaging platform, to a company geared toward end-of-life planning, the following 32 startups hope to solve some of healthcare’s biggest problems. [Press Release]
WeWork’s head of M&A joins ezCater board
WeWork’s newly hired head of mergers and acquisitions, Emily Keeton, has joined the board of ezCater, a Boston startup that offers an online catering marketplace. Previously, Emily was head of M&A for IAC. Prior to that, she was SVP of corporate development for Scripps Networks Interactive Inc. She has an MBA from Harvard Business School and a BA from Columbia University. [Boston Business Journal]
