Follow the Money: Cerebro Sports Lands Mark Cuban Backing, Ryan Snags Tax Products from Thomson Reuters, and More

In this week’s North Texas deal flow, you’ll also find news about Pathway Healthcare’s Texas expansion via Innovation360 acquisition; NEW A.G.E Inc’s $2.5M deal with Healing the Earth; donor software firm NPact's acquisition of products from Blackbaud; and Irving-based Commercial Metal Company’s acquisition of Advanced Steel Recovery among other deals.

What companies are finding funding or having a big exit? From startup investments to grants and acquisitions, Dallas Innovates tracks what’s happening in North Texas money. Sign up for our e-newsletter, and share your deal news here

Dallas’ Cerebro Sports lands Mark Cuban as backer

After inking agreements with a number of collegiate and NBA teams, Cerebro Sports is looking to “break down barriers across the basketball industry” with funding from someone who knows a thing or two about the sport.

While not disclosing specific amounts, the Dallas-based performance analytics startup announced landing new funding from local billionaire and Dallas Mavericks owner Mark Cuban.

Using its technology and a global database of players, scouts, and coaches, the company provides data and analytics on basketball players to help in the recruitment process, with the goal of making it more objective.

Launched last year, Cerebro said it plans to use the pre-seed funding to help scale internal data operations, in addition to growing its institutional client base as it gears up for the release of its consumer offering. Eventually, Cerebro co-founder and VP of Strategy Rohan Dang said the company aims to add more sports to its platform.

“There’s an opportunity to tell a full, objective story of player performance in the basketball industry that replaces hype with data-driven analytics. Today, most recruiting and scouting processes require the eye test and, while certainly meaningful and a necessary aspect of recruitment, that is very difficult to scale,” Ryan Girardot, Cerebro’s co-founder and CEO, said in a statement. “There is a myriad of data to sort through, so we’e built our tools to create scalable and objective analysis.”


Tricolor lands $100M in funding from Fifth Third Capital

⟫ Dallas-based Tricolor Holdings, a firm focused on providing auto loans and other financial services, announced landing $100 million in funding from Fifth Third Capital, per the Dallas Business Journal.  Founder and CEO Daniel Chu said the money would help support Tricolor’s growth as it expands into new markets. Around the same time last year, Tricolor announced it had received $90 million in funds from BlackRock.

Donor management software firm NPact scoops up two products from Blackbaud

Jeff Conn

⟫ Dallas-based NPact, a provider of grant and donor management software for foundations, announced acquiring foundation management software product FIMS and donor engagement product DonorCentral NTX from software giant Blackbaud. Terms of the deal were not disclosed.

NPact said the move will help expand its footprint in the community foundation and religious verticals. The company’s co-CEO Jeffrey Conn added that the acquisition of the products “positions NPact to serve this unique set of customers, as [we] continue to improve existing solutions and build new solutions which meet their specific needs.”

Tax giant Ryan acquires two products from Thomson Reuters

Ryan founder and CEO G. Bint Ryan

Ryan, the locally based global tax services and software provider, has acquired the property tax and transfer pricing product lines of Thomson Reuters for an undisclosed amount—a move that chairman and CEO G. Brint Ryan says makes the firm the largest property tax software provider in North America.

With 25 new team members joining Ryan as part of the deal, the company’s leader added that the acquisitions leave it with the largest property tax services team in the world.

In addition to new team members, the move brings more than 600 clients over to Ryan’s roster.

McKesson’s Irving headquarters [Photo: Michael Samples]

McKesson acquires prescription cost savings company RX Savings Solutions in deal valued at up to $875M

⟫ Aiming to accelerate its growth in biopharma services, Irving-based McKesson Corporation announced plans to acquire Kansas’ RX Savings Solutions in a deal valued at up to $875 million. Using machine learning algorithms, RX Savings works with health plans and self-funded employers to achieve prescription cost savings, reaching more than 17 million patients. As part of the deal, which is pending regulatory approval, RX Savings will become part of McKesson’s prescription technology solutions business, with the ultimate goal of using RX Savings as a “foundation to build new outcomes management programs for biopharma and payers.”

Beckett acquires Houston computer vision company Due Dilly

Beckett CEO Kunal Chopra

⟫ Dallas’ Beckett a pricing and grading platform for collectible items, has acquired Houston-based Due Dilly, a company using machine learning to help make the kind of assessments Beckett focuses on. Calling computer vision “the future,” Beckett CEO Kunal Chopra said the move helps the firm with its “strategic vision” of using tech to create new products and services for collectors. Terms of the deal were not disclosed.

The move marks Beckett’s second tech-focused acquisition this month. Earlier, the more than four-decade-old firm acquired NoXX Technologies, a New York-based platform aimed at “connecting collectors.” As part of that deal, NoXX CEO Scott Roskind joined Beckett as its “new chief visionary officer” as NoXX integrates its technology with the company.

Pathway Healthcare expands Texas presence with acquisition of Dallas outpatient group Innovation360

⟫ Looking to bolster its existing local presence, Alabama-based an outpatient care provider for metal health and addiction Pathway Healthcare has scooped up Dallas-based counselor and therapist outpatient group Innovation360 for an undisclosed amount. Already with 18 outpatient locations across six states, Pathway President and COO Andrew Turner said the deal will allow the company to provide increased behavioral health care.

Dallas’ NEW A.G.E. Inc. inks $2.5M deal to manufacture, distribute organic growing systems products from Healing the Earth

⟫ Dallas-based NEW A.G.E. Inc. has inked a deal with Healing the Earth, the innovative organic food growing system subsidiary of Alabama-based holding company Green Planet Group, to become a distributor and manufacturer of its products. With the goal of establishing a center for sales, tech demonstrations and education, manufacturing, maintenance, and distribution of Healing the Earth’s products, NEW A.G.E. has agreed to provide a $2.5 million convertible loan or other funding method in a similar amount to Healing the Earth. The initial agreement is for 10 years, with renewals totaling 40 years.

“Adding a major distributor and manufacturer to help us commercialize our food growing system will help the worldwide farming community adopt our technology and accelerate sales and revenues,” Pat Choate, Green Planet chairman and CEO, said in a statement.

Photo: Commercial Metals Company

Irving’s Commercial Metals Company acquires Advanced Steel Recovery as it expands westward

As part of its expansion into the western U.S., Commercial Metals Company, a more than century-old Irving-based manufacturer, recycler, and fabricator of steel and metal products, has acquired California’s Advanced Steel Recovery. The move will help provide scrap metals to Commercial’s mills in Arizona—where a new mill is expected to come online early next year—said the company’s board chair, President, and CEO Barbra Smith. A supplier of recycled ferrous metals, Advanced Steel says it handles around 300,000 tons of scrap annually.

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