Seedfunders, an early-stage investment firm in St. Petersburg, closed a $100,000 investment in Vacayou, a St. Petersburg company that plans to provide wellness experiences, spa getaways and active travel vacations. The company, founded by Dawna Stone and Muirgheal Montecalvo, fits the investment thesis for Seedfunders, said David Chitester, CEO. The company is locally based and pre-revenue, and also is the first fully female team in which Seedfunders has invested, Chitester said. The investment is Seedfunders' 14th deal in just over a year-and-a-half, Chitester said.
Tech Data Corp. (Nasdaq: TECD) has completed its acquisition of DLT Solutions, a software and cloud solutions company focused on the U.S. public sector. Financial terms of the deal, initially announced in late October, were not disclosed. DLT complements Tech Data's existing public sector business with additional expertise and resources to accelerate growth and streamline existing complexities for channel partners serving the U.S. public sector space, a news release said. The acquisition comes in the midst of Tech Data's own sale. The Clearwater IT distributor has agreed to be acquired by funds managed by Apollo Global Management Inc. in a $6 billion deal that would take Tech Data private.
Ryan has acquired SALT Payroll Consultants, a state and federal payroll tax recovery firm based in St. Petersburg. Financial terms were not disclosed. SALT, founded in 1994 and a subsidiary of Pinpoint Recovery Solutions Corp., is a recognized market leader in the recovery of unidentified payroll tax refunds and savings opportunities for multinational corporations, a news release said. Kevin Cappock, managing partner and CEO of SALT, will join Ryan as principal and practice leader of Ryan’s Human Capital Tax practice. Ryan is a Dallas-based global tax services and software provider.
Investor's Business Daily highlighted Jabil (NYSE: JBL), the largest company in St. Petersburg, saying the contract manufacturer is earning plaudits for diversifying its business and improving profitability. Investor's Business Daily said Jabil was its "stock of the day" on Wednesday, as it trades near a 13-year high. Jabil climbed to $39.73 on Nov. 12 but has fallen back slightly since then and was trading at $39.29 near the close Wednesday. Jabil has posted seven straight quarters of double-digit gains in sales year over year, Investor's Business Daily said. While Apple (Nasdaq: AAPL) remains a major customer, Jabil has diversified, making more products for Apple than it used to, while also being less dependent on Apple for revenue.
Major League Baseball's postseason players’ pool topped $80.8 million and the Tampa Bay Rays got a piece of that. The Rays were one of four runners-up in the American League Division Series and their share of the players’ pool was $2,627,987.24, a news release from Major League Baseball said. In turn, the Rays issued to players 55 full shares, a total of 13.766 partial shares and 11 cash awards, with each full share valued at $36,835.39. The league's collective bargaining agreement with the players calls for a percentage of the post-season receipts to come back to them, Forbes reported.
Hoots, a family-friendly, quick-service concept from Hooters, plans to open a downtown St. Petersburg location. The site, at 201 1st Ave. N. near Jannus Live, is "coming soon," according to the company's website. Hooters Management Corp. launched the concept in 2017 in suburban Chicago, Nation's Restaurant News reported. It serves some of Hooters’ most popular items, including chicken wings, fries and crab legs.
Abacode, a Tampa cybersecurity and regulatory compliance firm, is partnering with Girl Scouts of West Central Florida to offer a program for cybersecurity basics badge training. Designed for Cadettes in grades 6 through grades 8, or ages 11 to 14, Abacode will teach about virtualization, Kali Linux, password cracking, two-factor authentication, and several other topics, said Jeremy Rasmussen, Abacode's chief technology officer. The program, from 10 a.m. to 2 p.m. on Dec. 7 at the Hillsborough County Entrepreneur Collaborative Center, is hands-on, and each girl will have her own laptop to use. Lunch is provided. The class is limited to 40 girls. Registration is here.
Gov. Ron DeSantis appointed Steve Berlin to the Pinellas County Court. Pinellas County is located within the Sixth Judicial Circuit. Berlin, of St. Petersburg, has been a litigator for Rumberger Kirk and Caldwell since 2017. Previously, he was an Army Judge Advocate while he served as a Lieutenant Colonel in the United States Army. He received his bachelor’s degree from the United States Military Academy and his law degree from the University of Florida Levin College of Law. Berlin fills the vacancy created by the resignation of Judge Donald Horrox.
US Laboratories will lay off 71 employees at its site at 5501 49th St. N. in St. Petersburg, when it permanently closes the location on or before Dec. 31. The diagnostic testing firm also is closing an office in Dania Beach, and will lay off 31 workers there, according to Worker Adjustment and Retraining Notifications sent to the Florida Department of Economic Opportunity. The WARN notices did not give a reason for the closings. U.S. Laboratories is part of TridentUSA Health Services, which won approval to reorganize its finances after a bankruptcy approval earlier this year.
Tech Data Corp. (Nasdaq: TECD) reported net sales of $9.1 billion for the third quarter of 2019, a drop of 2 percent compared to the prior-year quarter. Net income was $90.1 million, or $2.52 a share, for the three months ended Oct. 31, compared to net income of $114.2 million, or $2.96 a share in the year-ago period. The quarter ended Oct. 31, 2018 included a $25 million benefit from the collection of an accounts receivable balance previously considered uncollectible, the Clearwater-based IT distributor said in a news release. Tech Data, the largest company headquartered in the Tampa-St. Pete area based on revenue, agreed earlier this month to be acquired by Apollo Global Management, in a deal valued at $5.4 billion that would take Tech Data private.
Premiums at TypTap Insurance Co., a subsidiary of Tampa-based HCI Group Inc. (NYSE: HCI), have surpassed $50 million. The company achieved that benchmark ahead of projections, a news release said. "Gross written premiums at TypTap have grown more than fourfold since the third quarter of 2018,” said Paresh Patel, HCI chairman and CEO. “This rapid growth is organic and, most important, profitable. We’re not sacrificing margins for the sake of growth.” TypTap’s operations are made possible by insurance-related information technology developed by HCI’s software subsidiary, Exzeo USA Inc.
The city of St. Petersburg has bought the Science Center of Pinellas for $3.15 million. The deal, approved earlier this year by the St. Petersburg City Council, clears the way for the city to use about half of the 6.78 acre property to build new water storage tanks. The sale was recorded as the second highest commercial sale in the 33710 zip code in the last five years, according to a news release from Smith & Associates Commercial Real Estate Division, which sold the Science Center. The Science Center previously was owned by CareerSource Pinellas and used for job training, STEM field trips, and helping people find jobs in the trade industry. CareerSource continues to offer skills training and seminars at their other locations throughout Pinellas County.