peHUB Wire: Monday, August 2, 2010

Top Three

Bain Capital, Blackstone Group and TPG Capital are among PE firms eyeing a stake in Nokia Siemens Networks, which would cost at least $1 billion.

HgCapital reportedly has agreed to buy Italian accounting software provider TeamSystem from Bain Capital. The deal could be worth upwards of €600 million, with HgCapital beating out rival bidder Cinven.

ABRY Partners has completed its sale of CapRock Communications to Harris Corp. (NYSE: HRS) for $525 million in cash. CapRock is a Houston, Texas-based provider of mission-critical managed satellite communications solutions for the energy, government and maritime industries.

VC Deals

Complete GenomicsInc., a Mountain View, Calif.-based human genome sequencing company, has filed for an $86.25 million IPO. It plans to trade on the Nasdaq under ticker symbol GNOM, withUBS Investment Bank and Jefferies & Co. serving as co-lead underwriters. The company has raised around $90 million in total VC funding since 2006, fromEssex Woodlands Health Ventures, OrbiMed Advisors, Enterprise Partners Venture Capital, OVP Venture Partners, Prospect Venture Partners and Highland Capital Management.

Boston-Power Inc., a Westborough, Mass.-based developer of lithium-ion batteries, has expanded its Series E round from $60 million to $66.4 million, according to a regulatory filing. The company previously announced thatFoundation Asset Management and Oak Investment Partners co-led the round, and were joined by fellow return backers Venrock and Gabriel Venture Partners. The company has now raised around $191 million in total VC funding since 2005.

Quest Software Inc. (Nasdaq: QSFT) has agreed to acquire Surgient Inc., an Austin, Texas-based provider of private cloud automation software. No financial terms were disclosed. Surgient has raised around $100 million in VC funding, from Austin Ventures, Crosslink Capital, Goldman Sachs, BlueStream Ventures, Seaport Capital, Sternhill Partners, Rod Canion, Reed Hundt, Tom Meridethand Bill Joy.

Pancetera, a Santa Clara, Calif.-based provider of virtual storage optimization solutions, has raised Series A funding from Onset Ventures and Hummer Winblad Venture Partners. VentureWire puts the round at $5 million, and says it closed in 2009.

Conatus Pharmaceuticals, a San Diego-based drug company focused on inflammation and liver disease, has acquired the Idun Pharmaceuticals subsidiary of Pfizer Inc. No financial terms were disclosed. Conatus was founded in July 2005 by the executive management team of Idun Pharma, following its sale to Pfizer. It has raised around $27.5 million in VC funding, from Aberdare Ventures, Advent Venture Partners, Bay City Capital and Gilde Healthcare Partners.

Payfone Inc., a New York-based company that allows users to pay for online goods by using mobile credit, has raised $11 million in Series B funding. Opus Capital and BlackBerry Partners Fund were joined by return backer RRE Ventures. The company previously raised $1.6 million.

Science Applications International Inc. (NYSE: SAI) has agreed to acquire Reveal Imaging Technologies Inc., a Bedford, Mass.-based provider of detection products and services. No financial terms were disclosed. Reveal Imaging has raised around $18 million in VC funding, from Flybridge Capital Partners, Brown Brothers Harriman, General Catalyst and Greylock.

Explorys Inc., a Cleveland-based provider of cloud computing solutions for healthcare data , has raised $2.55 million in Series B funding. Santé Ventures led the round, and was joined by return backer Cleveland Clinic Innovations.

AdMeld Inc., a New York-based provider of online advertising optimization and integration, has raised $15 million in Series C funding. Norwest Venture Partners led the round, and was joined by Time Warner Investments and return backers Foundry Group and Spark Capital. The company previously raised $15 million.

Buyouts Deals

Abu Dhabi Investment Authority reportedly is joining 3i Group and Morgan Stanley on a bid for the high-speed railway linking London with the Channel Tunnel. The deal could be worth between £1.5 billion and £2 billion.

PE-Backed M&A

Great Hill Partners has committed a $100 million to Credibility Corp., a privately-held company based in Los Angeles. Great Hill Partners has also funded Credibility Corp.’s recent buy of Credit-on-Self division, also known as the Self Awareness Solutions (SAS) operating unit, of D&B. Additional terms of the deal were not announced.

Saratoga Investment Advisors, an affiliate of Saratoga Partners, has bought a minority stake in GSC Investment Corp. via a $55 million recapitalization. Saratoga, CLO Partners and certain individuals bought 9.9 million shares of GSC Investment Corp. for $1.52 per share for about 37%. The recap includes a $40 million senior secured revolving credit facility from Madison Capital Funding LLC. GSC Investment Corp. will now be known as Saratoga Investment Corp., senior managers of the business were replaced and a new NYSE stock ticker symbol, SAR, was adopted, according to the statement.

Boomerang Systems Inc., a maker of automated parking systems,hascompleted the sale ofa $7 million private offering of securitiesto a group of private equity investors. The offering was for the sale of 28,000,000 shares of the Company’s Common Stock, $0.001 par value, and an equal amount of Common Stock Purchase Warrants to purchase shares of common stock.

Energy Holdings International Inc. and Wasatah Capital of Riyadh, Saudi Arabia have agreed to form a special purpose corp. with an initial capital of $50 million that will be used to fund oil and gas and energy poweracquisitions within the Americas, Middle East and South East Asia regions.

PE Exits

Charterhouse Group has agreed to sell NewPath Networks Inc. to Crown Castle International Corp. (NYSE: CCI), for $115 million. NewPath is a Seattle-based developer and operator of distributed antenna system networks.

Jet Broadband Holdings, a portfolio company of MCG Capital, has completed the sale of its cable operations to Shentel Cable Co., a wholly-owned subsidiary of Shenandoah Telecommunications Co. (Nasdaq: SHEN), peHUB has learned. The deal was valued at $148 million. Waller Capital Partners advised Jet Broadband whileLazard Freres advised Shentel.

Human Resources

Dave Wehner has joined VC-backed social gaming company Zynga as chief financial officer, in a move that may signal a coming IPO. Wehner previously was a managing director with Allen & Co.

Trinet, a provider of human resources outsourcing services, has appointed James Franzone as vice president of corporate development. Franzone was a vice president at General Atlantic LLC where he led TriNet’s efforts last year to acquire Gevity, and raised $80 million of debt and took Gevity private before merging with TriNet.

Bill Tella, former president of Curative Specialty Pharma, has joined DW Healthcare Partners as an executive-in-residence.