Cart.com has acquired OceanX, adding two new facilities and expanding its logistics network to enhance efficiency and support high-volume beauty, wellness, and lifestyle brands. Photo courtesy of Cart.com

A Houston e-commerce unicorn has made its latest strategic acquisition.

Cart.com, which operates a multichannel commerce platform, announced that it has acquired Guthy-Renker's wholly-owned fulfillment operations arm OceanX. The terms of the deal were not disclosed. Around 200 OceanX employees will be assumed onto the Cart.com team, and the fast-growing company will add two new facilities totaling over 600,000 square feet to its network, expanding to include a West Coast distribution hub in Southern California and its third facility near Columbus, Ohio.

"Acquiring OceanX is part of Cart.com’s strategy to continue to scale our platform and capabilities across industries, leveraging our proprietary technology to improve efficiency and deliver superior results to our clients and their customers,” Omair Tariq, Cart.com founder and CEO, says in a news release. “By deploying our Constellation OMS and WMS software and seasoned operations team across these two new facilities, we will improve order visibility, labor efficiency, shipping costs and customer satisfaction for the benefit of our new clients.”

Cart.com now has 17 omnichannel fulfillment and distribution centers with around 10 million square feet and more than 1,600 team members, according to the company.

With the transition, Guthy-Renker's Co-Founder and Co-Chairman Bill Guthy will serve as a strategic adviser to Cart.com.

The move broadens Cart.com's presence in the high-volume beauty, wellness, and lifestyle industries, and the company now will work with supply chains from numerous brands, including Meaningful Beauty, The Body Firm, Smileactives, and Westmore Beauty.

“Cart.com has built a comprehensive, enterprise-grade logistics network with modern, digital capabilities that offer unparalleled visibility, control and efficiency for our brands,” Rick Odum, CEO of Guthy-Renker, says in the release. “This partnership will marry our own channel and marketing expertise with their track record of driving growth and savings for high-volume, high-SKU brands, supercharging performance across our portfolio.”

Earlier this year Cart.com secured $105 million in debt refinancing from investment manager BlackRock and a $25 million series C extension round.

In April, the company acquired an Amazon partner, Ohio-based Amify, a company that provides optimization and advertising solutions

Houston-based Galen Data, a provider of cloud-based connectivity software for medical devices, has been acquired. Photo via Getty Images

Houston startup acquired, plans to expand global medical device software solutions

exit this way

Houston-based Galen Data, a provider of cloud-based connectivity software for medical devices, has been acquired by health care-focused asset manager Lauxera Capital Partners. Financial terms weren’t disclosed.

Lauxera, based in France, says the Galen Data acquisition complements its 2022 purchase of Germany-based Matrix Requirements, a provider of software for medical device R&D and quality control teams.

“The Galen team has built an exceptional product providing medical device companies a cost-effective, compliant, and secure solution for medical device cloud connectivity,” Samuel Levy, founding partner of Lauxera, says in a news release.

Chris DuPont, co-founder and CEO of Galen Data, says the Lauxera deal “empowers us to take our business to the next level and better serve our clients while pushing forward the innovation that’s at the core of everything we do.”

Chris DuPont is the co-founder and CEO of Galen Data. Photo via LinkedIn

Galen Data had raised $7.21 million in venture capital since its founding in 2016, according to PitchBook. Investors included the Texas HALO Fund, the Houston Angel Network, Tamiami Angel Fund IV, and Zeeland Ventures. As of November 2023, Galen Data was valued at $18 million, according to Dealroom.co.

Customers of Galen Data include Austin-based Cardi/o, Houston-based Delphi Diagnostics, Houston-based Future Caridia, Austin-based Harmonic Bionics, Houston-based Tienovix, and Houston-based Zibrio.

Houston-based ROGII has acquired a new software to integrate into its platform. Photo via ROGII.com

Houston software provider makes strategic acquisition to expand platform

growing biz

An advanced geosteering, geoscience, and drilling software solutions company based in Houston has announced the acquisition of of a software platform.

ROGII plans to acquire TerraSLS's TLog Mudlog Editor software, which is used to generate vertical, and horizontal striplogs for use by geologists. The acquisition “will significantly enhance ROGII's product offerings by providing operators and clients with unprecedented real-time connectivity to mudlogging data,” according to ROGII. Mudlogging is a process that involves examining the cuttings of rock brought to the surface by the drilling.

“Our acquisition of TLog marks another step forward in our mission to deliver the most advanced, real-time data solutions to the oil and gas industry,” CEO of ROGII Igor B. Uvarov says in a news release. “The integration of TLog’s capabilities into our Solo Cloud platform will revolutionize the way operators and mudlogging service companies interact, making mudlogging a truly real-time process and driving greater efficiency and collaboration.”

One way it works is that ROGII will integrate TLog into its Solo Cloud platform, which will advance mudlogging data. This gathers it all into a real-time data exchange between mudlogging service companies and its operators.

The integration will allow operators to monitor mudlogging activities in real-time, which means a possible faster and more informed decision-making processes. The user will get immediate access to data, which can help enhance collaboration and improve efficiency. In addition, the mudlogging data will be safely stored on Solo Cloud for future analysis and data integration, which assists with maintaining integrity of the data.

“We look forward to investing in further development of TLog, increasing user-friendliness, expanding adoption worldwide, and making it the industry standard, being used by all mudlogging service companies,” Uvarov adds.

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This article originally ran on EnergyCapital.

A Houston company has acquired a data analytics business. Photo via Getty Images

KBR to acquire data analytics co. in $737M deal to better serve national security issues

M&A

Houston-based KBR announced it has entered into a definitive agreement to acquire engineering, data analytics and digital integration company LinQuest Corp., which will add “digital integration capabilities for national security customers” according to a news release. The deal is valued at $737 million.

LinQuest is known for assisting in solving complex technical challenges for national security missions and has supported the U.S. Space Force, U.S. Air Force and other U.S. Department of Defense and intelligence agencies. The company does this through development and integrating advanced technology solutions across space, air dominance and connected battle space missions. Some missions include advanced AI and machine learning capabilities.

KBR is a leader in providing science, engineering and technology solutions to governments and companies worldwide.

“LinQuest is an innovator in national security, space and technology solutions. Their talented people deliver high-end, technically and digitally differentiated services that are complementary to KBR,” Stuart Bradie, KBR president and CEO said in a news release.

KBR’s support for strategic U.S. government clients in terms of the rapidly changing defense and national security sector expect to benefit from the fact that over 74 percent of LinQuest’s 1,500-plus employees already hold security clearances.

“LinQuest is a terrific company, and the revenue synergy opportunities are exciting,” Bradie adds. ”Our values are strongly aligned, and we are delighted to welcome this talented team to the KBR family.”

Ara Partners announced this week that it has acquired a majority interest in Houston-based USD Clean Fuels. Image via Getty Images

PE firm acquires Houston renewables fuels infrastructure company

m&a moves

Fresh off its $3 billion fund closure, a Houston private equity firm has made its latest acquisition.

Ara Partners announced this week that it has acquired a majority interest in Houston-based USD Clean Fuels, a developer of logistics infrastructure for renewable fuels. The terms of the deal were not disclosed.

"We have high conviction that the green molecules economy – whether it's renewable fuel feedstocks or biofuels – offers disproportionate opportunity for returns and impact," George Yong, partner and co-head of Infrastructure at Ara Partners, says in a news release. "The USDCF platform is particularly compelling because it combines a best-in-class management team with a portfolio of premiere terminal logistics projects that provide the ideal foundation for a durable and scalable infrastructure business."

Included in the transaction, USDCF has acquired the West Colton Rail Terminal, a biofuels terminal operating in in California. Ara has reportedly committed additional capital to support USDCF's infrastructure footprint expansion.

"We are excited to join forces with Ara Partners to bring critical infrastructure solutions to the rapidly growing North American renewable fuel market, beginning with the West Colton Rail Terminal," Dan Borgen, CEO of USDCF, says in the release. "We are proud to be backed by an investor that is completely focused on enabling an accelerated and economical path to a low-carbon economy."

Ara Partners, which has around $5.6 billion of assets under management, closed its third fund a few weeks ago to the tune of $3 billion. The firm has offices in Houston, Boston and Dublin, Ireland, and focuses on industrial decarbonization.

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This article originally ran on EnergyCapital.

Allie Danziger joins the Houston Innovators Podcast to discuss her edtech startup Ampersand's exit. Photo courtesy of Ampersand

How this Houston edtech startup's acquisition is primed to further advance platform reach, impact

HOUSTON INNOVATORS PODCAST EPISODE 200

For the second time in less than six years, Houston entrepreneur Allie Danziger has navigated a company through an exit. But, with the two exists under her belt, Danziger says the two transactions could not be any more different.

Danziger founded Integrate Agency, a digital-focused public relations firm, in 2009 and sold it to another marketing and PR firm based in Austin in 2018. She founded her next company, Ampersand Professionals, in 2020 to address the challenges for upskilling young professionals to prepare them for success in the workplace — something employers really wanted, but struggled to do consistently.

Last month, Ampersand was acquired by Ascent Funding, a college loan provider that's building out a platform to support its college-aged borrowers. In this week's episode of the Houston Innovators Podcast, Danziger shares how this opportunity came about and looks back on these two pivotal deals.

"Integrate definitely was not built to sell — I didn't even know that people sold businesses when I was 24 (and started the agency," Danziger, who worked in PR her entire career at that time, says, adding that she thought she'd work at the company her whole life before passing it down to her children. "It ended up being a life-changing experience and opportunity because it did open my eyes up to other other things that I could do professionally — and also just kind of like the way that businesses are structured and run."

One of those things she considered post acquisition was upskilling entry-level employees. At Integrate, she hired a lot of interns and recent college graduates. She recognized there was a gap in the market. The first problem she identified was the need to match interns to positions at companies in an optimized way. While that's how the company started, it pivoted as Danziger says she saw the bigger need not for finding interns, but for making sure they were ready for their positions from the start.

"Most business leaders need their interns and entry-level employees starting day one with an understanding of how to communicate, and they don't really have the resources to teach them some of these skills," she explains.

Once the Ampersand platform, which has tons of resources and hours of instruction loaded on it, the challenge was finding the stakeholders that wanted the platform to exist — her potential customers. Was it the colleges or the employers? Through this journey, she realized that college loan lenders are part of that equation too.

"The lenders — the ones who are giving the student loans — they're the ones who really need them to be successful in the workplace," Danziger explains, saying the success of their loan recipients ensures a timely payout for the lender. "Their business model is predicated on students being successful, and I'd always known that, but not quite known what to do with that knowledge."

Danziger says the idea for acquisition, while always in the back of her mind, really became a possibility when she went out to raise funding.

"You're always raising money, and you're always for sale," Danziger says of the startup journey.

When a potential investor raised the idea of being a potential acquirer, Danziger says she started doing some soul searching. The right acquisition deal could help her address the milestones she wanted to reach with investment funding — growing her team, expanding her technology, and broadening reach. Through a diligent process, Danziger decided on Ascent from a few other potential acquirers.

"I'm not going anywhere. I want to still keep solving this problem, but with a larger team and larger resources," she says. "Either I could go find that myself, or I could join forces we could join forces with an established organization."

Danziger says her role at Ascent is still being constructed in terms of scope and responsibilities, but her title as of now is senior vice president and general manager of student success. She will lead the company's educational program that focuses on equipping students with skills from education to employment.

She shares more on the acquisition process — including her advice to startups thinking about the M&A path. Listen to the interview here — or wherever you stream your podcasts — and subscribe for weekly episodes.

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Rice launches 'brain economy' initiative at World Economic Forum

brain health

Rice University has launched an initiative that will position “brain capital” as a key asset in the 21st century.

Rice rolled out the Global Brain Economy Initiative on Jan. 21 at the World Economic Forum in Davos, Switzerland.

“This initiative positions brain capital, or brain health and brain skills, at the forefront of global economic development, particularly in the age of artificial intelligence,” the university said in a news release.

The Rice-based initiative, whose partners are the University of Texas Medical Branch in Galveston and the Davos Alzheimer’s Collaborative, aligns with a recent World Economic Forum and McKinsey Health Institute report titled “The Human Advantage: Stronger Brains in the Age of AI,” co-authored by Rice researcher Harris Eyre. Eyre is leading the initiative.

“With an aging population and the rapid transformation of work and society driven by AI, the urgency has never been greater to focus on brain health and build adaptable human skills—both to support people and communities and to ensure long-term economic stability,” says Amy Dittmar, a Rice provost and executive vice president for academic affairs.

This initiative works closely with the recently launched Rice Brain Institute.

In its first year, the initiative will establish a global brain research agenda, piloting brain economy strategies in certain regions, and introducing a framework to guide financial backers and leaders. It will also advocate for public policies tied to the brain economy.

The report from the McKinsey Health Institute and World Economic Forum estimates that advancements in brain health could generate $6.2 trillion in economic gains by 2050.

“Stronger brains build stronger societies,” Eyre says. “When we invest in brain health and brain skills, we contribute to long-term growth, resilience, and shared prosperity.”

Rice Alliance and the Ion leader Brad Burke to retire this summer

lasting legacy

Brad Burke—a Rice University associate vice president who leads the Ion District’s Rice Alliance for Technology and Entrepreneurship and is a prominent figure in Houston’s startup community—is retiring this summer after a 25-year career at the university.

Burke will remain at the Rice Alliance as an adviser until his retirement on June 30.

“Brad’s impact on Rice extends far beyond any single program or initiative. He grew the Rice Alliance from a promising campus initiative into one of the most respected university-based entrepreneurship platforms,” Rice President Reginald DesRoches said in a news release.

During Burke’s tenure, the Rice Business School went from unranked in entrepreneurship to The Princeton Review’s No. 1 graduate entrepreneurship program for the past seven years and a top 20 entrepreneurship program in U.S. News & World Report’s rankings for the past 14 years.

“Brad didn’t just build programs — he built an ecosystem, a culture, and a reputation for Rice that now resonates around the world,” said Peter Rodriguez, dean of the business school. “Through his vision and steady leadership, Rice became a place where founders are taken seriously, ideas are rigorously supported, and entrepreneurship is embedded in the fabric of the university.”

One of Burke’s notable achievements at Rice is the creation of the Rice Business Plan Competition. During his tenure, the competition has grown from nine student teams competing for $10,000 into the world’s largest intercollegiate competition for student-led startups. Today, the annual competition welcomes 42 student-led startups that vie for more than $1 million in prizes.

Away from Rice, Burke has played a key role in cultivating entrepreneurship in the energy sector: He helped establish the Energy Tech Venture Forum along with Houston Energy and Climate Startup Week.

Furthermore, Burke co-founded the Texas University Network for Innovation and Entrepreneurship in 2008 to bolster the entrepreneurship programs at every university in Texas. In 2016, the Rice Alliance assumed leadership of the Global Consortium of Entrepreneurship Centers.

In 2023, Burke received the Trailblazer Award at the 2023 Houston Innovation Awards and was recognized by the Deshpande Foundation for his contributions to innovation and entrepreneurship in higher education.

“Working with an amazing team to build the entrepreneurial ecosystem at Rice, in Houston, and beyond has been the privilege of my career,” Burke said in the release. “It has been extremely gratifying to hear entrepreneurs say our efforts changed their lives, while bringing new innovations to market. The organization is well-positioned to help drive exponential growth across startups, investors, and the entrepreneurial ecosystem.”

Starting April 15, John “JR” Reale Jr. will serve as interim associate vice president at Rice and executive director of the Rice Alliance. He is managing director of the alliance and co-founder of Station Houston, beginning April 15. Reale is co-founder of the Station Houston startup hub and a startup investor and was also recently named director for startups and investor engagement for the Ion.

“The Rice Alliance has always been about helping founders gain advantages to realize their visions,” Reale said. “Under Brad’s leadership, the Rice Alliance has become a globally recognized platform that is grounded in trust and drives transformational founder outcomes. My commitment is to honor what Brad has built and led while continuing to serve our team and community, deepen relationships and deliver impact.”

Burke joined the Houston Innovators Podcast back in 2022. Listen to the full interview here.

Houston team uses CPRIT funding to develop nanodrug for cancer immunotherapy

cancer research

With a relative five-year survival rate of 50 percent, pancreatic cancer is a diagnosis nobody wants. At 60 percent, the prognosis for lung cancer isn’t much rosier. That’s because both cancers contain regulatory B cells (Bregs), which block the body’s natural immunity, making it harder to fight the enemies within.

Newly popular immunotherapies in a category known as STING agonists may stimulate natural cancer defenses. However, they can also increase Bregs while simultaneously causing significant side effects. But Wei Gao, assistant professor of pharmacology at the University of Houston College of Pharmacy, may have a solution to that conundrum.

Gao and her team have developed Nano-273, a dual-function drug, packaged in an albumin-based particle, that boosts the immune system to help it better fight pancreatic and lung cancers. Gao’s lab recently received a $900,000 grant from the Cancer Prevention and Research Institute of Texas (CPRIT) to aid in fueling her research into the nanodrug.

“Nano-273 both activates STING and blocks PI3Kγ—a pathway that drives Breg expansion, while albumin nanoparticles help deliver the drug directly to immune cells, reducing unwanted side effects,” Gao said in a press release. “This approach reduces harmful Bregs while boosting immune cells that attack cancer, leading to stronger and more targeted anti-tumor responses.”

In studies using models of both pancreatic and lung cancers, Nano-273 has shown great promise with low toxicity. Its best results thus far have involved using the drug in combination with immunotherapy or chemotherapy.

With the CPRIT funds, Gao and her team will be able to charge closer to clinical use with a series of important steps. Those include continuing to test Nano-273 alongside other drugs, including immune checkpoint inhibitors. Safety studies will follow, but with future patients in mind, Gao will also work toward improving her drug’s production, making sure that it’s safe and high-quality every time, so that it is eventually ready for trials.

Gao added: “If successful, this project could lead to a new type of immunotherapy that offers lasting tumor control and improved survival for patients with pancreatic and lung cancers, two diseases that urgently need better treatments."