IPO
M&A and IPOs
May 23, 2013: 10:11 AM ETPfizer Inc. (NYSE: PFE) said that it will split off its remaining 80% interest in its former animal health unit Zoetis Inc. (NYSE: ZTS), which completed a $2.2 billion IPO back in February. The split will be done via an exchange offer. www.zoetis.com
Adobe Systems (Nasdaq: ADBE) has acquired mobile app design agency Thumb Labs for an undisclosed amount. www.adobe.com
BTG PLC (LSE: BTG) has agreed to acquire the Targeted Therapies division of Nordion Inc. (TSX: NDN) for approximately US$200 million. www.btgplc.com
Google (Nasdaq: GOOG) has acquired Makani Power, an Alameda, Calif.-based developer of wind energy extraction technologies. No financial terms were disclosed. Makani had raised over $10 million in VC funding from Google and Google.org. www.makanipower.com
BTG PLC (LSE: BTG) has agreed to acquire EKOS Corp., a Bothell, Wash.–based maker of ultrasound systems for treating vascular thrombosis, for approximately $180 million (plus up to $40m in milestone payments). EKOS has raised over $90 million in VC funding from ARCH Venture Partners, Bessemer Venture Partners, Merrill Lynch, Mitsui & Co., Spray Venture Partners, MedVenture Associates, Protostar, Technology Partners and Morgan Stanley Venture Partners.www.ekoscorp.com
Seaport Capital has sold MCV Broadband, a provider of triple-play broadband services in Guam, to Japan's NTT Docomo Inc. for approximately $130 million. www.mcvguam.com
ChannelAdvisor Corp., a Morrisville, N.C.-based provider of SaaS-based merchandise sales management solutions for retailers and manufacturers, raised $81 million in its IPO. The company priced 5.8 million shares at $14 per share (high end of $12-$14 range), and will trade on the NYSE under ticker symbol ECOM. Goldman Sachs and Stifel served as lead underwriters. The company reports a $4.9 million net loss on $38.8 million in revenue for 2012, compared to a $3.8 million net loss on $31.3 million in revenue for 2012. It has raised around $75 million in VC funding, from firms like Kodiak Venture Partners (24.4% pre-IPO stake), New Enterprise Associates (24%) and Advanced Technology Ventures (18.5%). www.channeladvisor.com
Global Brass & Copper Holdings Inc., a Schaumberg, Ill.-based maker of copper and brass products, raised around $77 million in its IPO. The company priced 7 million shares at $11 per share (low end of downwardly-revised range), and will trade on the NYSE under ticker symbol BRSS. Goldman Sachs and Morgan Stanley served as co-lead underwriters. The company reports $12.9 million in net income on around $1.65 billion in revenue for 2012. All of the shares were offered by KPS Capital Partners, whose post-IPO ownership position fell below 70%. www.gbcmetals.com
Ply Gem Holdings Inc., a Cary, N.C.-based maker of exterior building products, raised $332 million in its IPO. The company priced 15.8 million shares at $21 per share (above $18-$20 range), and will trade on the NYSE under ticker symbol PEGM. J.P. Morgan, Credit Suisse and Goldman Sachs serving as co-lead underwriters. CI Capital is PlyGem's majority shareholder. www.plygem.com
Portola Pharmaceuticals, a South San Francisco-based drug company focused on cardiovascular and autoimmune/inflammatory diseases, raised $122 million in its IPO. The company priced 8.4 million shares at $14.50 per share, compared to plans to offer 6.9 million shares at between $13 and $16 each. It will trade on the Nasdaq under ticker symbol PTLA, while Morgan Stanley and Credit Suisse served as co-lead underwriters. Portola had raised over $300 million in VC funding, from firms like Temasek (13.9% pre-IPO stake), MPM Capital (9.6%), Prospect Venture Partners (7.1%), Brookside Capital (7%), Sutter Hill Ventures (7%), Eastern Capital (7%), Advanced Technology Ventures (6.1%), Frazier Healthcare (5.7%), AllianceBernstein, Alta Partners, CIDC Consulting, D.E. Shaw, Goldman Sachs, IBT Management Corp., Teachers' Private Capital, T. Rowe Price, Apothecary Capital, Janus Capital, Biogen Idec and PAC-Link BioVentures. www.portola.com
Noodles & Co., a Broomfield, Colo.-based fast casual restaurant concept , has filed for a $75 million IPO. It plans to trade on the NYSE under ticker symbol NDLS, with Morgan Stanley and UBS serving as lead underwriters. The company reports around $5 million in net income on $300 million in revenue for 2012, compared to $3.8 million on $256 million in 2011. Catterton Partners and Argentia Private Investments each hold around a 45% pre-IPO stake. www.noodles.com
General Electric Co. (NYSE: GE) is considering spinning off part of its GE Finance unit via an IPO, according to comments made yesterday during a conference by company CEO Jeff Immelt.
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M&A and IPOs
Iron Mountain Inc. (NYSE: IRM) has acquired Information Storage Consolidation Co., a Carrollton, Texas-based records storage business, from Graycliff Partners. No financial terms were disclosed. www.isccllc.com
Kohlberg Kravis Roberts & Co. has sold its remaining A$260 million stake in Australian television network operator Seven West Media Ltd. (ASX: SWM). www.kkr.com
Novo AS has acquired Xellia Pharmaceuticals, a Norway–based developer of anti-infective therapies, for approximately $700 million. Sellers include 3i Group and European Capital. www.xellia.com
Charlie Ergen, chairman of Dish Network (NYSE: DISH), has bid $2 billion for wireless "L-band" MORE
Dan Primack - May 21, 2013 10:56 AM ET -
M&A and IPOs
Actavis Inc. (NYSE: ACT) has agreed to acquire Warner Chilcott PLC (Nasdaq: WCRX) for approximately $8.5 billion in stock, or $20.08 per share. The deal would create a specialty pharma company with around $11 billion in combined annual revenue. Sellers will include Thomas H. Lee Partners, which holds around a 3.9% stake Chilcott. www.actavis.com
Seamless North America and GrubHub Inc. have agreed to merge, into a single provider of online services for ordering takeout. The combined company would MORE
Dan Primack - May 20, 2013 11:24 AM ET -
M&A and IPOs
Yahoo is considering a acquisition offer of upwards of $1 billion for Tumblr, as first reported by AllThingsD. Tumblr has raised over $120 million in VC funding from Spark Capital, Union Square Ventures, Sequoia Capital, Greylock Partners, Insight Venture Partners, CrunchFund, The Chernin Group and DFJ Growth. www.tumblr.com
Telus Corp. (TSX: T) has agreed to acquire Mobilicity, a provider of mobile telecom solutions in Canada, for C$380 million. Quadrangle Group had owned Mobilicity, but the entire purchase price MORE
Dan Primack - May 17, 2013 11:14 AM ET -
M&A and IPOs
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: MORE
Dan Primack - May 16, 2013 11:36 AM ET -
Tableau Software raises IPO stakes
Tableau's venture capital backers getting ready for a monster return.
FORTUNE -- Tableau Software today increased the price range of its pending IPO to between $28 and $30 per share, meaning that it could raise upwards of $216 million when it prices tomorrow night. It had originally planned to price at between $23 and $26 per share.
And no one is happier about the bump than venture capital firm New Enterprise Associates, MORE
Dan Primack - May 15, 2013 1:47 PM ET -
M&A and IPOs
Advent International is planning to sell 7.25 million shares of discount retailer Five Below (Nasdaq: FIVE) via a public secondary offering. The company's shares closed trading yesterday at $38.63 per share. Goldman Sachs, Barclays and Jefferies are managing the sale, which also includes another 1.3 million shares being sold by insiders. If successfully placed, Advent's ownership position would fall from 32.3% to 18.9%. www.fivebelow.com
Lindsay Goldberg is offering 6.5 million shares of Pike Electric Corp. (NYSE: PIKE), a MORE
Dan Primack - May 14, 2013 10:48 AM ET -
M&A and IPO
Baidu (Nasdaq: BIDU) has agreed to acquire the online video business of China's PPStream Inc. for $370 million. www.baidu.com
Goldman Sachs has invested $110 million into DEN Networks Ltd., a listed Indian cable television distribution company. www.digitelly.in
Hertz Global Holdings (NYSE: HTZ) said that its three private equity sponsors – The Carlyle Group,Clayton Dubilier & Rice and Merrill Lynch Global Private Equity – have sold their remaining 49.8 million shares in the car rental company for $1.24 billion in proceeds. The firms originally acquired Hertz MORE
Dan Primack - May 7, 2013 10:49 AM ET -
Twitter banker hire isn't about IPO
Twitter hired a Morgan Stanley banker, but it's more about M&A than IPO.
FORTUNE -- Twitter revved up IPO rumors last week, by announcing that it had hired Morgan Stanley banker Cynthia Gaylor as head of corporate development. But there may be less here than meets the eye.
To be sure, the speculation is understandable. Gaylor worked on numerous tech transactions during her seven years at Morgan Stanley (MS), including the Facebook's (FB) initial public MORE
Dan Primack - May 6, 2013 1:04 PM ET -
M&A and IPOs
McAfee Inc., a unit of Intel Corp. (Nasdaq: INTC), has agreed to acquire Stonesoft (Helsinki: SFT1V), a Finnish provider of network firewall products, at an equity value of approximately $389 million in cash. http://www.mcafee.com
Newell Rubbermaid (NYSE: NWL) said that it plans to sell its hardware and tech platform businesses, which had combined 2012 net sales of slightly more than $300 million. http://www.newellrubbermaid.com
Roland Berger, a Germany-based financial consultancy, has entered into MORE
Dan Primack - May 6, 2013 10:17 AM ET
