Term Sheet

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

M&A

October 3, 2012: 10:25 AM ET

Deutsche Telekom, the parent company of T-Mobile, has agreed to acquire a 74% stake in MetroPCS (NYSE: PCS). The deal would include MetroPCS conducting a 2-1 stock split and pay shareholders around $1.5 billion ($4.09 per share), and then issue new stock to Deutsche Telekom.

3i Group is seeking to list or sell Civica, a UK-based provider of public sector software, according to the FT. 3i acquired the company in 2008 for £190 million, and has Rothschild to explore exit avenues. www.3i.com

The Carlyle Group is planning a £260 million dividend recapitalization for UK roadside assistance company RAC, according to Reuters. www.carlyle.com

Global Payments Inc. (NYSE: GPN) has acquired Accelerated Payment Technologies, a Pleasant Grove, Utah-based provider of payment technology solutions to small and mid-sized merchants, from Great Hill Partners. The deal was valued at $413 million in cash. www.acceleratedpay.com

WL Ross & Co. has agreed to sell Homeward Residential Holdings Inc., a mortgage loan servicing and origination company, for approximately $750 million ($588m in cash) to Ocwen Financial Corp. (NYSE: OCN). www.wlross.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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