Term Sheet

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

Mergers & acquisitions

January 24, 2013: 9:53 AM ET

Citigroup CEO Michael Corbat told Bloomberg TV that "today, it doesn't make sense" for the firm to sell assets. www.citigroup.com

Connecture Inc., an Atlanta-based health insurance process automation company, has acquired DRX, a Los Angeles–based provider of online shopping and enrollment systems for consumers of Medicare health plans. No financial terms were disclosed. Connecture last year raised $20 million in venture recap funding sponsored by existing shareholders GreatPoint Partners and Chrysalis Ventures. DRX backers included Lemhi Ventures. www.connecture.com

Electra Partners has hired Rothschild to explore a possible sale of refinancing of Allflex, a provider of livestock management and animal electronic identification systems, according to Reuters. The company reportedly is valued at around $1 billion. www.allflex.co.nz

Guavus Inc., a Santa Clara, Calif.–based provider of provider of big data analytics solutions for communications service providers, has acquired Neuralitic Systems, a Montreal–based provider of mobile data monetization and marketing analytics. No financial terms were disclosed. Guavus recently announced $30 million in new VC funding from Investor Growth Capital, QuestMark Partners, Artiman Ventures, Sofinnova Ventures and Intel Capital. Neuralitic Systems backers included Export Development Canada, BlackBerry Partners Fund, BDC Venture Capital, Vertex Venture Capital and GO Capital. www.guavus.com

McGraw-Hill (NYSE: MHP) has agreed to acquire a 20% stake in Danish adaptive learning companyArea9, according to TechCrunch. No financial terms were disclosed. www.area9learning.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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