Term Sheet

The latest on private equity, M&A, deals and movements — from Wall Street to Silicon Valley


June 6, 2012: 9:52 AM ET

Ancestry.com (Nasdaq: ACOM) has hired Qatalyst Partners to explore strategic alternatives, including a possible sale of the company to private equity firms, according to Bloomberg. The company had a market cap of around $946 million, as of yesterday's market close. Significant shareholders include Spectrum Equity Investors, Crosslink Capital and Tiger Global Management.

AboveNet Inc. (NYSE: ABVT) shareholders have approved a $2.2 billion, or $84 per share, buyout by Zayo Group LLC, a Louisville, Colo.-based provider of bandwidth infrastructure and network neutral colocation services. www.zayo.com

Berkshire Hathaway disclosed that it holds approximately a 3% stake in newspaper publisher Lee Enterprises (NYSE: LEE).

Lloyds Banking Group has sold an £809 million portfolio of non-performing, distressed Australian property loans to The Blackstone Group and Morgan Stanley. The deal was for £388 million in cash.

Zayo Group LLC, a Louisville, Colo.-based provider of bandwidth infrastructure and network neutral colocation services, has agreed to acquire FiberGate Inc., a Washington, D.C. metro area provider of dark fiber services. No financial terms were disclosed. Zayo shareholders include Battery Ventures, Bridgescale Partners, Centennial Ventures, Charlesbank Capital Partners, Columbia Capital, GTCR, M/C Partners, Morgan Stanley, North Sky Capital and Oak Investment Partners. www.zayo.com

News Corp.
(Nasdaq: NWSA) has acquired the 50% stake it didn't already own in ESPN STAR Sports (ESS) from Walt Disney Co. (NYSE: DIS). No financial terms were disclosed. ESS was a joint venture operating 28 sports-related networks in Asia. www.newscorp.com

Brentwood Associates has sold Filson, a Seattle–based brand of outdoor apparel and accessories, to Bedrock Manufacturing Co. No financial terms were disclosed. www.bedrockmfg.com

Edcon, an African clothing and footwear retailer owned by Bain Capital, has agreed to sell its retail credit card business to South African financial group Absa Group for approximately $1.2 billion.

Pacific Community Ventures has sold Galaxy Desserts, a Richmond, Calif.–based provider of all-natural gourmet desserts and pastries, to Brioche Pasquier Group of France. No financial terms were disclosed. www.galaxydesserts.com

Google Inc. (Nasdaq: GOOG) has acquired QuickOffice, a Plano, Texas-based provider of mobile office software smartphones and tablets. No financial terms were disclosed. QuickOffice had raised around $28 million in VC funding from Mayfield Fund, Advantage Capital Partners, Shepherd Ventures, Shea Ventures and Access Industries. www.quickoffice.com

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About This Author
Dan Primack
Dan Primack
Senior Editor, Fortune

Dan Primack joined Fortune.com in September 2010 to cover deals and dealmakers, from Wall Street to Sand Hill Road. Previously, Dan was an editor-at-large with Thomson Reuters, where he launched both peHUB.com and the peHUB Wire email service. In a past journalistic life, Dan ran a community paper in Roxbury, Massachusetts. He currently lives just outside of Boston.

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