Monday, August 28, 2006

MountainWest Capital Release Q2 Deal Flow Info

Salt Lake City, Utah-based MountainWest Capital Network has released the group's Q2 deal flow report for venture capital and investment banking deals in Utah. The group reports that there was a total of $23.6M in venture capital funding in Q2 in Utah, with the largest funding going to Oakley Networks. Funding was down from the comparable quarter last year, when Utah received $85M in venture funding. However, merger and acquisition activity was high for the quarter, with over 1.1B in M&A activity in the state. Two deals topped the charts, including the $416M acquisition of LANDesk by Avocent, and the $396M acquisition of Duratek by Energy Solutions. Finally, the group reported a total of $183M in public offerings for Utah firms, including offerings from SkyWest, Omniture, and Sonic Innovations. MWCN is a business networking organization that focuses on entrepreneurship in Utah.