Via the Globe:
A private equity player in the United States has made one of the biggest bets yet on the Internet, with a $160-million investment in a little-known new-media firm in Ontario’s Waterloo region.
American Capital Strategies Ltd. wants to build an online media powerhouse through the minority equity stake it acquired this week in Geosign Group of Companies, a firm in Guelph. Geosign has quietly built a network of 180 websites offering consumers information on topics ranging from bed linen and fitness to insurance and cosmetic surgery.
"This is the largest single private equity deal in Canada, in the Internet space, in the last four years," said Iain Klugman, president of Communitech, an industry group representing tech companies in the region.