Term Sheet

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

Deals of the day: Comcast gets Time Warner Cable

February 13, 2014: 9:47 AM ET

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Venture Capital Deals

Tintri Inc., a Mountain View, Calif.-based provider of storage for virtualization and cloud environments, has raised $75 million in Series E funding. Insight Venture Partners led the round, and was joined by return backers Lightspeed Venture Partners, Menlo Ventures and NEA. www.tintri.com

CloudPassage, a San Francisco-based software defined security company, has raised $25.5 million in Series C funding. Shasta Ventures led the round, and was joined by Meritech Capital Partners, Stephen Luczo (CEO of Seagate) and return backers Benchmark, Musea Ventures and Tenaya Capital.www.cloudpassage.com

Pronutria, a Cambridge, Mass.-based developer of protein nutrient products for the dietary management of disease, has raised $12.25 million in new VC funding led by Flagship Ventures.www.Pronutria.com

RiseSmart, a San Jose, Calif.-based provider of enterprise career management solutions, has raised $11 million in growth equity funding led by Accel-KKRwww.risesmart.com

Miramar Labs, a Sunnyvale, Calif.-based medical device manufacturer whose first product is focused on excessive underarm sweat, has raised $10 million in Series D funding. Backers include Aisling Capital, Cross Creek Capital, Domain Associates, Morgenthaler Ventures and RusnanoMedInvest.www.miradry.com

Lithera Inc., a San Diego-based drug company focused on aesthetic medicine and ophthalmology, has raised $8 million in new VC funding. AKS Capital was joined by return backers Alta Partners and Domain Associates.www.lithera.com

Campanja, a Stockholm-based provider of search engine marketing solutions for online advertisers, has raised $5 million in Series A funding. Hoxton Ventures and DFJ Espirit were joined by individual angels. www.campanja.com

Wellspring, a Chicago-based provider of enterprise software to manage research and innovation, has raised $5 million in new VC funding led by MK Capitalwww.wellspringworldwide.com

BlueConic, a Boston-based provider of customer engagement solutions for brands to optimize cross-channel marketing opportunities, has raised $3 million in Series A funding led by Sigma Prime Ventureswww.blueconic.com

VoApps, an Atlanta-based developer of voice applications, has raised $1.5 million in Series B funding. Backers includeBuckhead Investment Partners, two unidentified strategic investors and individual angels. www.voapps.com

Revionics Inc., a Roseville, Calif.-based provider of merchandise pricing optimization solutions for retailers, has raised an undisclosed amount of VC funding from Motorola Solutions Venture Capital. The company previously raised over $18 million from Blumberg Capital, Sierra Ventures, Velocity Venture Capital and Sacramento Angels. www.revionics.com

Private Equity Deals

Acosta, a Jacksonville, Fla.-based outsourced sales and marketing company backed by Thomas H. Lee Partners, has agreed to acquire Anderson Daymon Worldwide, a Stamford, Conn.-based sales and marketing agency that exclusively serves Costco Wholesale. No financial terms were disclosed.www.acosta.com

Fortissimo Capital has completed its previously-announced acquisition of Eshbel Technologies Ltd.an Israel–based developer of ERP software for small and medium businesses, for approximately $55 million. www.eshbel.com

Hellman & Friedman and JMI Equity have rejected multiple binding takeover offers for HR software company Kronos Inc., according to Reuters. The bids came in as high as $4.6 billion, but the sellers were seeking more. Hellman & Friedman and JMI reportedly counteroffered to sell a minority stake, but didn't find any takers. Bidders included Advent International, Bain Capital and The Blackstone Group.www.kronos.com

PNC Riverarch has acquired Women's Marketing Inc., a Westport, Conn.-based provider of media strategy, planning and buying for brands targeting women, from Halyard Capital and Steelpoint Capital. No financial terms were disclosed. www.wminet.com

RRJ Capital has agreed to acquire a 45% stake in Shanghai Bright Holstan Co., a unit of Chinese dairy company Bright Dairy & Food Co. (Shanghai: 600597), for around $252 million.www.brightdairy.com

Telesat Holdings Inc., a Canadian satellite operator owned by Loral Space & Communications Inc. (NasdaqGS:LORL) and Canada's Public Sector Pension Investment Board, has received buyout interest from numerous private equity firms, according to Reuters. The asking price would be around $6.5 billion, with Apax Partners, Onex Corp., The Carlyle Group, Canada Pension Plan Investment Board and KKR reported to be considering bids. www.telesat.ca


Amedica Corp., a Salt Lake City-based maker of spine and reconstructive surgery implants and instruments, raised $20 million in its IPO. The company priced 3.5 million shares a $5.75 per share (below $8-$10 range), and will trade on the Nasdaq under ticker symbol AMDA. JMP Securities served as lead underwriter. The company reports a $6.4 million net loss on $11.3 million in revenue for the first half of 2013. www.amedica.com

Biomet Inc., a Warsaw, Ind.-based orthopedic device manufacturer, is beginning to talk to bankers about a possible IPO, according to the WSJ. The company was taken private in 2007 for $11.2 billion by The Blackstone Group, GS Capital Partners, KKR and TPG Capital. www.biomet.com

Rimini Street Inc., a Las Vegas-based  independent provider of enterprise software support, has filed for a $60 million IPO. It plans to trade under ticker symbol RMNI, with UBS, Piper Jaffray and JMP Securities serving as lead underwriters. The company reports a $7 million net loss on $43.8 million in revenue for the first nine months of 2013, compared to a $7 million net loss on $32 million in revenue for the year-earlier period. Shareholders include Adams Street Partners (26.7% pre-IPO stake).www.riministreet.com

Q2 Holdings Inc., an Austin, Texas-based provider of cloud-based virtual banking solutions, has filed for a $138 million IPO. It plans to trade under ticker symbol QTWO, with J.P. Morgan and Stifel serving as lead underwriters. The company reports an $11 million net loss on $41 million in revenue for the first nine months of 2013, compared to a $6 million net loss on $29 million in revenue for the year-earlier period. Shareholders include Adams Street Partners (37.6% pre-IPO stake) and Battery Ventures(18.5%). www.q2ebanking.com


Comcast (Nasdaq: CMCS) has agreed to acquire Time Warner Cable (NYSE: TWC) for approximately $45.2 billion in equity value, or $158.82 per share. Following the deal, Time Warner shareholders would own approximately 23% of Comcast's common stock. www.comcast.com

Grupo Bimbo (Mexico: BIMBOA) has agreed to acquire Canada Bread Co. (TSX: CBY), or C$1.83 billion in cash, or C$72 per share (7% premium to Friday's closing price).www.canadabreadfoodservice.ca

Westinghouse Air Brake Technologies Corp. (NYSE:WAB) has agreed to acquire Fandstan Electric Group Ltd., a London-based rail and industrial equipment manufacturer, for around $215 million in cash. www.fandstanelectric.com

Irving Place Capital has agreed to sell Victor Technologies Holdings Inc., a maker of cutting, gas contrl and specialty welding solutions, to Colfax Corp. (NYSE: CFX) for $947.3 million (including assumption of debt). http://www.colfaxcorp.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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