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The U.S. spent $30 billion to ditch textbooks for laptops and tablets: The result is the first generation less cognitively capable than their parents

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The U.S. spent $30 billion to ditch textbooks for laptops and tablets: The result is the first generation less cognitively capable than their parents

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Current price of oil as of July 13, 2026

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Current price of silver as of Monday, July 13, 2026

M&A and IPOs

By
Dan Primack
Dan Primack
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By
Dan Primack
Dan Primack
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October 23, 2013, 2:34 PM ET
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APR Energy (LSE: APR) has agreed to acquire the turbine rental business of GE (NYSE: GE), in exchange for approximately $315 million in cash and stock. The two companies also have entered into a supply and services agreement. www.ge.com

Deloitte has acquired Banyan Branch, a Seattle–based digital and social media agency. No financial terms were disclosed. DeSilva+Phillips managed the process. www.deloittedigital.com

Five9, a San Ramon, Calif.-based provider of cloud contact center software, has acquired SoCoCare, a provider of customer care applications and technologies for powering cloud contact centers. No financial terms were disclosed. Five9 has raised VC funding from SAP Ventures, Adams Street Partners, Hummer Winblad Venture Partners and Partech International. www.five9.com

Grupo BTG Pactual SA of Brazil is considering an offer for J.P. Morgan Chase & Co.’s (NYSE: JPM) physical commodities business, according to Reuters. www.btgpactual.com

Carl Icahn has cut his stake of Netflix (Nasdaq: NFLX) nearly in half to 4.5%, selling 2.99 million shares at an average price of $314.85 (total of $941 million). For comparison, he paid around $173 million for the shares last year. www.netflix.com

Pace PLC (LSE: PIC) has conditionally agreed to acquire Aurora Networks, a Santa Clara, Calif.-based provider of optical transport solutions for cable network operators. The deal is valued at $310 million in cash. Aurora shareholders include TA Associates. www.aurora.com

eBay (Nasdaq: EBAY) has acquired Shutl, a UK-based provider of same-day delivery solutions for retailers. No financial terms were disclosed. Shutl had raised over $8 million in VC funding form Hummingbird Ventures, UPS Strategic Enterprise Fund, e.ventures and Notion Capital. www.shutl.com

Google (Nasdaq: GOOG) has acquired FlexyCore SAS, a French solution for boosting Android performance, according to L’Expansion. The deal reportedly is valued at around $23 million. Flexcore backers included Sochrastem. www.google.com

Men’s Warehouse (NYSE: MW) is considering an offer for Allen Edmonds, a shoemaker currently owned by Goldner Hawn Johnson & Co., according to multiple press reports. This comes as Men’s Warehouse is preparing for a hostile takeover approach from Jos. A. Bank (Nasdaq: JOSB), which recently was rebuffed on a $2.3 billion buyout offer. www.menswearhouse.com

500.com Ltd., an online sports lottery service provider in China, has filed for a $150 million IPO. It plans to trade on the NYSE under ticker symbol WBAI, with Deutsche Bank Securities serving as lead underwriter. The company reports $3.4 million of net income on $26.7 million in revenue for the first half of 2013. Shareholders include Sequoia Capital. www.500.com

Barracuda Networks Inc., a Campbell, Calif.-based provider of content security, data protection, and application delivery solutions, has set its IPO terms to 4.14 million shares being offered at between $18 and $21 per share. It would have an initial market cap of approximately $975 million, were it to price in the middle of its range. The company plans to trade under ticker symbol CUDA, with Morgan Stanley, J.P. Morgan and BoA Merrill Lynch serving as lead underwriters. It reports a $4.9 million net loss on $114 million in revenue for the six months ending August 31. Barracuda recently raised $130 million via recap funding from Francisco Partners (26.5% pre-IPO stake) and Sequoia Capital (17.4%).www.barracudanetworks.com

Sungy Mobile, a China-based provider of mobile app and platform development solutions, has filed for an $80 million IPO. It plans to trade on the NYSE under ticker symbol GOMO, with Credit Suisse and J.P. Morgan serving as lead underwriters. The company reports $5.4 million of net income on nearly $23 million in revenue for the first half of 2013. Shareholders include IDG Ventures (28.7% pre-IPO stake), WI Harper (9.7%) and Jafco Asia Technology Fund (9.6%).

Wix, an Israeli company that helps users build HTML5 websites, has set its IPO terms to 7.7 million shares being offered at between $14.50 and $16.50 per share. It would have an initial market cap of approximately $565 million, were it to price in the middle of its range. The company plans to trade on the Nasdaq under ticker symbol WIX, with J.P. Morgan, BofA Merrill Lynch and RBC Capital Markets serving as lead underwriters. It reports an $18 million net loss on $55.5 million in revenue for the first half of 2013. It has raised around $61 million in VC funding from  Mangrove Capital (22.5% pre-IPO stake), Bessemer Venture Partners (21.7%), Benchmark (11%), Insight Venture Partners (10.2%) and DAG Ventures. www.wix.com

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