Term Sheet

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

M&A

November 9, 2012: 10:29 AM ET

Priceline (Nasdaq: PCLN) has agreed to acquire Norwalk, Conn.-based travel search site Kayak Software Corp. (Nasdaq: KYAK) for $1.8 billion, or $40 per share, in cash and stock. That represents nearly a 29% premium to where Kayak shares closed trading yesterday, and a whopping 54% higher than where the company went public in June 2011. It's a remarkable ending for Kayak, which openly wondered if it would be crushed when Google agreed to buy ITA Software for $700 million in late 2010. The Norwalk, Conn.-based company filed for its IPO shortly thereafter, but waited more than 20 months before actually pulling the trigger. And, when it did go public, Kayak's venture capital backers felt compelled to increase their ownership. As of last check, Kayak shareholders include General Catalyst Partners (6.08m shares), Sequoia Capital (6.07m), Oak Investment Partners (3.88m), Fidelity Investments (714k) and Wellington Management (688k). www.kayak.com

Global Eagle Acquisition Corp. (Nasdaq: EAGL) has agreed to acquire Row 44, a Westlake Village, Calif.-based provider of in-flight WiFi and device-based entertainment solutions. It also has agreed to acquire an 86% stake in Advanced Inflight Aliance AG, a listed German provider of airline entertainment and connectivity solutions. The total deal value is around $430 million. Row 44 had raised $45 million over the summer from Advanced Inflight Alliance and PAR Capital Management. www.row44.com

Royal DSM has agreed to acquire Fortitech, a Schenectady, N.Y.–based maker of food ingredient blends, for $634 million. Sellers include Trilantic Capital Partnerswww.fortitech.com

Central European Media Enterprises (Nasdaq: CETV) is planning a restructuring that could include the sale television stations in Croatia and Slovenia for between $150 million and $200 million, according to Reuters. www.cetv-net.com

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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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