peHUB Wire: Thursday, November 5, 2009

Top Three

TPG Capital and the Canada Pension Plan have agreed to buy IMS Health (NYSE: RX), a provider of data on prescription drug sales, for $22 per share (50% premium to last Friday’s closing price). The total deal would be valued at around $5.2 billion, including the assumption of debt. Goldman Sachs is providing the leveraged finance.

Funambol Inc., a Redwood City, Calif.-based developer of open-source mobile application servers, has acquired Zapatec Inc., aprovider of AJAX web 2.0 frameworks. No financial terms were disclosed. Funambol has raised around $23 million in VC funding, from firms like Nexit Ventures, Castile Ventures, Walden International and HIG Ventures., a Provo, Utah-based online resource for family history, raised $100 million in its IPO. The company priced 7.41 million common shares at $13.50 per share (middle of its range), which gave it an initial market cap of approximately $572 million. Shareholders include Spectrum Equity Investors (67% pre-IPO), Crosslink Capital (6.2%) and W Capital Partners (6.1%). A predecessor company had raised around $50 million in VC funding between 1998 and 1999, but none of those backers are listed as existing shareholders.

VC Deals

Spinal Modulation Inc., a Menlo Park, Calif.-based developer of a spinal cord stimulator system to treat patients suffering from chronic pain, has raised $27.4 million in Series C funding. Johnson & Johnson Development Corp. led the round, and was joined by DFJ/InCube Ventures, Raffles Venture Partners and return backers DeNovo Ventures, ePlanet/DFJ, Kleiner Perkins Caufield & Byers and MedVenture.

Zyngenia Inc., a Rockville, Md.-based pharma startup focused on antibody development, has raised $10 million in Series A funding from New Enterprise Associates.

Everlater, a Boulder, Colo.-based online platform for sharing travel experiences, has raised an undisclosed amount of Series A funding led by Highway 12 Ventures.

Buyouts Deals

Quantum Energy Partners has formed Icon NGS LLC, a Houston-based acquisition platform focused on natural gas storage. The deal is being done in partnership with gas storage veterans LarryBickle, Andy Lang and Mark Fullerton. No financial terms were disclosed.

Siguler Guff has acquired a minority equity stake in MDM Bank, one of Russia’s largest private banks, for an undisclosed amount. Brunel Capital served as broker. MDM was formed this past August via the merger of URSA Bank and MDM-Bank.

Transurban Group (AX: TCL), an Australian toll road operator, has rejected to buyout offer from the Canada Pension Plan Investment Board and t! he Ontario Teachers’ Pension Plan Board, which together already own around 28% of the company. The company was worth around A$6 billion ahead of the rejection, but its stock rose 20% when Transurban said it may be open to a better offer.

VEM said it was satisfied with first-round bids for its sale of German generic drugmaker Ratiopharm. Both strategic and financial suitors made offers for the company, which could be worth upwards of € 3.5 billion.

Panolam Industries, a Shelton, Conn.-based decorative laminate company, has filed for Chapter 11 bankruptcy protection, as part of a previously announced debt restructuring agreement with lenders led by Apollo Capital Management and Eaton Vance Management. Genstar Capital and Sterling Group bought Panolam for $345 million in 2005.

PE-Backed M&A

Digby, an Austin, Texas-based provider of mobile commerce solution for retailers, has acquired Movaya Wireless, a Seattle-based developer of digital goods storefront applications for mobile devices like the iPhone and Android. No financial terms were disclosed. Digby has raised a small amount of VC funding from The BlackBerry Partners Fund (managed by JLA Ventures).

Initiate Systems Inc., a Chicago-based provider of master data management solutions for the exchange of health information, has acquired Accenx, an Irvine, Calif.-based provider of interoperability solutions for electronic healthcare records. No financial terms were disclosed. Initiate Systems has raised over $67 million in VC funding, from Apex Venture Partners, First Analysis Group, Sigma Partners, BlueCross BlueShield Venture Partners and Paladin Capital Group. It cancel! ed a proposed IPO in 2008. Accenx raised $3 million in Series A funding led by National Healthcare Services.

McJunkin Red Man Holding Corp., a Tulsa-based industrial pipe supplier owned by GS Capital Partners, hascompleted its acquisition of Transmark Fcx Group BV, a Houston, Texas-based distributor of specialty valves and flow control equipment. No financial terms were disclosed. McJunkin canceled a proposed $750 million IPO earlier this year.

PE Exits

Investor AB and Priveq have agreed to sell drug company Swedish Orphan to Biovitrum for approximately $493 million.

Firms & Funds

WestView Capital Partners, a Boston-based private equity firm focused on growth equity opportunities the middle markets,has closed its second fund with $325 million in capital commitments. Probitas Partners served as placement agent.

Human Resources

Eric Shiozaki has joined healthcare-focused VC firm Apposite Capital as an associate director in its San Francisco office. He previously was with Burrill & Company.