TakeLessons in Fortune Magazine – Chromatik

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Term Sheet — Friday, April 7

Apr 07, 2017

EXITS

• Belcan, a Cincinnati-based provider of engineering, technical recruiting, and information technology services owned by AE Industrial Partners, agreed to acquire Schafer Corporation, an Arlington, Va.-based provider of IT services to the aerospace, national security and private sectors, from Metalmark Capital Partners.

• TakeLessons, a San Diego, Calif. online marketplace that connects performing arts students with tutors, agreed to acquire Chromatik, a Long Beach, Calif. developer of apps for learning music. Chromatik raised $7.7 million in venture funding from backers including 500 Startups, Plus Capital, and Rustic Canyon Partners.

• Temasun, a Beijing-based IT service provider, acquired Grid Dynamics, a Menlo Park, Calif.-based provider of ecommerce technology to the retail industry. Grid Dynamics raised $1.5 million in venture funding from Benhamou Global Ventures.

• Swander Pace Capital acquired Passport Food Group, an Ontario, Calif. manufacturer and distributor of internationally-flavored foods, from Wedbush Capital Partners.

• Accel-KKR sold Abila, an Austin, Texas-based provider of fundraising and grant management tools, to Community Brands.

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