Ever have one of those mornings when your column falls apart at the last minute. It’s like when a deal you’d been counting on falls apart, except the the massive difference in sunk time and costs (and potential for profits).
Well, that’s what happened to me this morning. I tried replacing it with an essay about how private equity is officially back, how lessons weren’t learned and why perhaps they never needed to be taught in the first place (I nearly gagged writing it, but truth is truth). Just didn’t get finished in time to meet deadline, so we’ll get to that tomorrow.
Top Three
Silver Lake Partners and Warburg Pincus officially have agreed to buy financial information provider Interactive Data (NYSE: IDC) for approximately $3.4 billion, or $33.86 per share.
Flexera Software, a portfolio company of private equity firm Thoma Bravo, has acquired ManageSoft, a Boston-based provider of enterprise software management solutions. No financial terms were disclosed. ManageSoft had raised over $38 million in VC funding from firms that included Accede Capital Venture Partners, Technology Venture Partnersand Siemens Venture Capital.
ICICI Venture, the VC arm of Indian lender ICICI Bank, has lost three top officials. The trio – president Jayanta Banerjee and directors Anand Vyas and Sunay Mathure – submitted their r! esignations yesterday, and plan to set up their own private equity fun d. Last year, ICICI Venture CEO Renuka Ramnath left to form Multiples Alternate Asset Management.
VC Deals
IronKey Inc., a Los Altos, Calif.-based provider of secure portable computing solutions, has raised$22 million in new VC funding. Bridgescale Partners led the round, and was joined by return backers Mohr Davidow Ventures, Leapfrog Venturesand Crosslink Capital. www.ironkey.com
Virtustream Inc., a provider of a virtualization technology platform for infrastructure services firm, has raised around $15 million in additional Series A funding from Intel Capital, Noro-Moseley Partners and TDFunds. The round now stands at around $40 million, including past commitments from Columbia Capital and Blue Lagoon Capital. Virtustream has offices in the UK and Bethesda, Maryland.
Cotendo, a San Carlos, Calif.-based provider of content delivery and site acceleration solutions, has raised $12 million in Series C funding. Tenaya Capital led the round, and was joined by return backers Benchmark Capital and Sequoia Capital. The company previously raised more than $7 million.
Nanobiotix, a Paris-based developer of nanotech-based cancer therapeutics, has raised $11 million in Series C funding. CIC Vizille Capital Innovation led the round, and was joined byMasseran Gestion and return backersMatignon Technologies, OTC Asset Management, Cap Decisif Management and Amorçage Rhône-Alpes.
Wyplay SAS, a French developer of high-definition media centers for th! e home, has raised €9 million in third-round funding. Amundi Privat e Equity Funds led the round, and was joined by return backers A Plus Finance, Elaia Partners and Sofinnova Partners.
RocketLawyer, a San Francisco-based company that helps individuals create standard legal documents via an online platform, has secured $6.55 million of a $7.55 million funding round, according to a regulatory filing. The only new board member listed is Philip Dur, a managing director in the Menlo Park office of Investor Growth Capital. RocketLawyer previously raised capital from Lexis-Nexis. Dan Nye, former CEO of LinkedIn, took over as the company’s CEO back in March. www.rocketlawyer.com
SmartZip Analytics Inc., a Pleasanton, Calif.-based provider of independent investment ratings and analysis for residential real estate, has raised an undi! sclosed amount of VC funding from Intel Capital. A regulatory filing indicates that the deal is worth around $4.5 million.
Galantos Pharma, a German drug company focused on Alzheimer’s Dementia, has raised €4.4 million in Series C funding. Backers include VRP (Rhineland Palatinate Fund), KfW (German State Bank), FIB (Investment Bank Rhineland Palatinate), WFT (Venture Fund Rhineland Palatinate), HTGF (High-Tech Fund) andthe BMBF (German Ministry for Education and Research).
Caring.com, a San Mateo, Calif.-based provider of eldercare and end-of-life content, has raised $4 million in new VC funding fro! m Intel Capital. The company previously raised $16 million from Shasta Ventures, DCM and Split Rock Partners.
Buyouts Deals
Apax Partners has agreed to acquire a majority stake security software maker Sophos, at an enterprise value of approximately $830 million. As part of the deal, minority Sophos shareholder TA Associates would sell its position.
Vitruvian Partners has agreed to acquire British gaming software company Inspired Gaming Group (LSE: INGG), for £74.4 million.
Warburg Pincus has agreed to buy UK discount retailer Poundland from Advent International for around £200 million.
PE-Backed IPOs
Accretive Health Inc., a Chicago-based provider of healthcare revenue cycle management services, has set its IPO terms to 13.33 million common shares being offered at between $14 and $16 per share. It would have an initial market cap of approximately $1.44 billion, were it to price at the high end of its range. The company plans to trade on the NYSE under ticker symbol AH, with Goldman Sachs and Credit Suisse serving as co-lead underwriters. Itreported around $510 million in 2009 revenue, compared to $398 million in 2008 revenue. Net income grew to $14.59 million in 2009. Oak Hill Capital Partners holds a 21.7% pre-IPO ownership position. www.accretivehealth.com
Interxion, a Dutch data storage company, said that it has filed for an IPO of ordinary shares in the U.S. The filing is not yet available on the SEC website.! The company is controlled by Baker Capital.
ReachLocal Inc., a Woodland Hills, Calif.-based provider of online advertising solutions for local businesses, has set its IPO terms to 4.17 million common shares being offered at between $17 and $19 per share. It would have an initial market cap of approximately $515million, were it to price at the high end of its range. ReachLocal raised around $68 million in VC funding, from VantagePoint Venture Partners (53.22% pre-IPO stake), Rho Ventures (12.94%) and Galleon Group (6.76%).
PE-Backed M&A
Althea Technologies Inc., a San Diego-based provider of technologies and services for pharmaceutical development and manufacturing, has acquired the assets and IP portfolio of Altus Pharmaceuticals (Nasdaq: ALTU), which filed for bankruptcy last year. No financial terms were disclosed. Althea Technologies has raised around $24 million from firms that include Telegraph Hill Partners and Kingsbury Associates.
Anaqua, a provider of IP asset management software, has merged with SGA², a provider of IP maintenance services. No financial terms were disclosed. Anaqua is a portfolio company of Beacon Equity Partners.
Canon Communications LLC, a Los Angeles-based B2B publisher and event organizer, has acquired pharmaceutical blog Pharmalot. No financial terms were disclosed. Canon is a portfolio company of Apprise Media, which is controlled by Spectrum Equity Investors.
Intermedix Corp., provider of billing services to emergency medical service providers in Texas, has acquired EMSystems LLC, aMilwaukee-based provider ofonline healthcare IT solutions in ! the public health and emergency services markets. No financial terms w ere disclosed. Intermedix is a portfolio company of Parthenon Capital.
Simply Healthcare, a Coral Gables, Fla.-based HMO backed by MBF Healthcare Partners, has acquired assets related to the Medicaid and Florida Healthy Kids business of Total Health Choice Inc. No financial terms were disclosed. Simply Healthcare also invested an undisclosed amount in Better Health, a provider of managed care services to Medicaid recipients in Broward County.
PE Exits
IBM has acquired Cast Iron Systems Inc., a Mountain View, Calif.-based maker of cloud integration software, appliances and services. No financial terms were disclosed.Cast Iron had raised over $61 million in VC funding since 2001, from Lehman Brothers Venture Capital, Sequoia Capital, Norwest Venture Partners and Invesco Private Capital.
SuccessFactor (Nasdaq: SFSF) has agreed to acquire CubeTree, a Redwood City, Calif.-based developer of a freemium enterprise collaboration suite built on a social networking platform. The deal includes a $20 million up-frontstock payment and up to $30 million in cash earnouts. CubeTree has raised $11.5 million in VC funding from InterWest Partners and Trinity Ventures.
Firms & Funds
KKR Financial Holdings (NYSE: KFN) said it would sell 25 million common shares and use proceeds for asset acquisitions and general corporate purposes.
Human Resources
Ford Tamer is stepping down as an operating partner with Khosla Ventures, in order to become CEO of an undisclosed startup, according to VentureWire. www.khoslaventures.com
John Fadely has joined the Hong Kong office of law firm Weil, Gotshal & Manges, as a partner in its global funds group. He previously was a partner with Clifford Chance.
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