Term Sheet

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

M&A and IPOs

May 16, 2013: 11:36 AM ET

American Capital has agreed to sell Global Conference Partners, a Glendale, Calif.–based provider of teleconferencing services, to Toronto-based Iotum. No financial terms were disclosed.www.calliflower.com

Mellanox Technologies Ltd. (Nasdaq: MLNX) has agreed to acquire Kotura Inc., a Monterey Park, Calif.-based silicon photonics company, for approximately $90 million. Kotura was advised by Mooreland Partners, and has raised around $27 million in VC funding from GF Private Equity, ComVentures, ARCH Venture Partners, Viterbi group and Rockley Ventures. www.kotura.com

Snap-on Inc. (NYSE: SNA) has acquired Challenger Lifts Inc., a Louisville, Ky.–based provider of vehicle lifts and lift accessories, from a private equity fund managed by Gen Cap America Inc. No financial terms were disclosed. Challenger Lifts was advised by Brookwood Associates.www.challengerlifts.com

Jana Partners reported that it now holds a 3.3% stake in Groupon (Nasdaq: GRPN) and a 4.3% stake in Zynga (Nasdaq: ZNGA). This makes Jana a top-six shareholder in both companies.www.janapartners.com

Roche Holding (SWX: ROG) is considering a sale of its blood glucose monitors business, according to Reuters. Bayer AG last year tried to sell a similar business for around $1.5 billion, but pulled the deal after finding insufficient interest. www.roche.com

Tesla Motors
 (Nasdaq: TSLA) announced plans to offer around $830 million worth of new shares and convertible senior notes (5-year coupon), with company founder and CEO Elon Musk to purchase $100 million of the new shares (at the offering price). www.tesla.com

Ambit Biosciences, a San Diego-based kinase drug discovery and development company, raised $65 million in its IPO. The company priced 8.1 million shares at $8 per share, compared to original plans to price 4.65 million shares at between $13 and $15 per share. It will trade on the Nasdaq under ticker symbol AMBI, while Citigroup and Leerink Swann served as co-lead underwriters. The company had raised more than $80 million in VC funding, from firms like OrbiMed Advisors (21.5% pre-IPO stake), AIsling Capital (20.6%), Apposite Healthcare (18.2%), Forward Ventures (12.9%), GIMV (9.5%), GrowthWorks (9.8%), MedImmune Ventures (13.4%) and Roche Ventures (15%).  www.ambitbio.com

Sinopec Engineering
, a Beijing-based engineering services group being spun out of China Petrochemical Corp., raised $1.8 billion in a Hong Kong IPO. It is the year's largest Hong Kong IPO to date. www.sinopecengineering.com

The New Zealand government plans to offer upwards of 49% of state-owned power utility Meridian Energy Ltd. via a public flotation in the second half of 2013. www.meridianenergy.co.nz

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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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