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FinanceTerm Sheet

Deals of the day: Pfizer is done with AstraZeneca

By
Dan Primack
Dan Primack
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By
Dan Primack
Dan Primack
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May 27, 2014, 5:16 PM ET
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Venture Capital Deals

Apixio Inc., a San Mateo, Calif.-based provider of big data analytics for the healthcare market, has raised $13.5 million in new VC funding led by Bain Capital Ventures. www.apixio.com

Aver Informatics, a Green Bay, Wis.-based provider of a data management platform for the healthcare reimbursement process, has raised $8.5 million in Series A funding co-led by Drive Capital and GE Ventures. www.averinformatics.com

Malauzai Software Inc., an Austin, Texas-based provider of mobile banking apps for community financial institutions, has raised $6.48 million in Series C funding led by Wellington Management Company. www.malauzai.com

DelfMEMS, a French developer of RF MEMS switching solutions, has raised €5.4 million in Series C funding. FSN PME led the round, and was joined by Iris Capital, VIVES and Capitalaria.www.delfmems.com

WholeWorldBand, an Irish maker of a virtual music studio app that lets users collaborate with famous musicians, has raised €5 million in Series A funding led by IIU and Balderton Capital.www.wholeworldband.com

NEUWAY Pharma GmbH, a German developer of therapeutics for the treatment of orphan brain diseases, has raised €2.7 million in Series A funding led by Wellington Partners. www.wellington-partners.com

Private Equity Deals

Abraaj Group has acquired an undisclosed stake in KPN Academy, a Thai out-of-school education company, for an undisclosed amount. www.abraaj.com

Ahlstrom Capital
has agreed to acquire Destia, a Finnish road and railroad infrastructure construction company, from Finland’s government for €148 million. www.destia.fi

Apollo Global Management
has completed its previously-announced acquisition of Inglewood, Calif.-based Event Rentals Inc. via a bankruptcy auction. No financial terms were disclosed.www.classicpartyrentals.com

Pacific Equity Partners
has offered to acquire SAI Global Ltd. (ASX: SAI), an Australian provider of technical compliance standards, for upwards of $1.1 billion, as first reported by Reuters.www.saiglobal.com

R&R Ice Cream PLC
, a UK-based portfolio company of PAI Partners, has acquired Australian ice cream products company Peters Food Group Ltd. from Pacific Equity Partners. No financial terms were disclosed. www.rr-icecream.eu

Roberto Cavalli is in talks to sell a majority position in his eponymous Italian fashion brand toInvestcorp at an enterprise value of €450 million (including debt), according to the FT. That valuation would represent more than a 15x EBITDA multiple. Cavalli previously discussed a stake sale to Permira, but those talks fell through. www.robertocavalli.com

IPOs

Two companies are expected to price U.S. IPOs this week: First Foundation and Microlin Bio.
Arista Networks Inc., a Santa Clara, Calif.-based provider of cloud networking solutions, has set its IPO terms to 5.25 million shares being offered at between $36 and $40 per share. The company would have an initial market cap of around $2.43 billion, were it to price in the middle of its range. It plans to trade on the NYSE under ticker symbol ANET, with Morgan Stanley and Citigroup leading a 17-bank underwriter group. The company reports $42 million of net income on $361 million in revenue for 2013, compared to $21 million in net income on $193 million in revenue for 2012. Shareholders include Andy Bechtolsheim. www.aristanetworks.com

Angion Biomedica Corp., a Uniondale, N.Y.-based developer of therapeutics for treating acute and chronic organ injury, has set its IPO terms to 2.7 million shares being offered at between $10 and $12 per share. The company plans to trade on the Nasdaq under ticker symbol ANGN, with Aegis Capital Corp. serving as underwriter. www.angion.com

Braas Monier Building Group, a Luxembourg-based provider of roofing materials, is prepping a Frankfurt IPO for later this year, according to Bloomberg. Shareholders include Apollo Global Management, Towerbrook Capital Partners, BNP Paribas and York Capital Management. www.braas-monier.com

Clarus Therapeutics Inc., a Northbrook, Ill.-based developer of an oral testosterone replacement product, has refilled for an $86.25 million IPO. It had previously filed for an IPO in 2010, before withdrawing its registration the following year. The company now plans to trade on the Nasdaq under ticker symbol CLRS, with Citigroup and Credit Suisse serving as lead underwriters. Shareholders in the pre-revenue company include Thomas, McNerney & Partners (58.8% pre-IPO stake), H.I.G. Ventures (24.5%) and ProQuest Investments (16.2%). www.clarustherapeutics.com

VWR Funding Inc., a Radnor, Penn.–based lab equipment maker owned by Madison Dearborn Partners, has hired BofA Merrill Lynch, Goldman Sachs and J.P. Morgan to lead an IPO, according to the WSJ. www.vwr.com

Xunlei Inc., a Chinese consumer Internet platform based on cloud computing that enables users to access and manage digital content, has refilled for an $100 million IPO. It had previously filed for an IPO in 20112, before withdrawing its registration later that year. The company plans to trade under ticker symbol XNET, with J.P. Morgan and Citigroup serving as lead underwriters. It reports $3.8 million of net income on around $180 million in revenue for 2013. Shareholders include Xiaomi Ventures (27.2% pre-IPO stake), Morningside Technology Investments (14.5% stake), Vantage Point Global (12.6%), King Venture (12.2%), IDG Technology Ventures (9.7%) and Ceyuan Ventures (5.4%). In its prior filings, Google also held a stake below 5%. www.xunlei.com

M&A

Atos (Paris: ATOS) has agreed to acquire French IT solutions rival Bull (Paris: BUL) for approximately €620 million. www.bull.com

Pfizer (NYSE: P) said that it has given up its pursuit of AstraZeneca (LSE: AZN). Pfizer’s final bid for the British drugmaker came in at around $119 billion in cash and stock. www.pfzier.com

Pilgrim’s Pride Corp. (NYSE: PPC) has offered to acquire Hillshire Brands Inc. (NYSE: HSH) for $5.52 billion in cash, or $45 per share (22% premium to Friday’s closing price). The offer comes just weeks after Hillshire agreed to acquire Pinnacle Foods Inc. (NYSE: PF) for approximately $6 billion in cash and stock (sellers on that deal would include The Blackstone Group, which holds a 51% stake in Pinnacle). Read more

Apax Partners has agreed to sell its majority stake in UK-based foreign exchange company Travelex Group to an investor group led by Bavaguthu Raghuram Shetty, at an enterprise value of approximately €1.51 billion. www.apax.com

Intuit (Nasdaq: INTU) has agreed to acquire Check (f.k.a. PageOnce), a Palo Alto, Calif.-based provider of mobile account management and bill payment software, for around $360 million. Check has raised over $25 million in VC funding from such firms as Menlo Ventures, Canvas Ventures, Pitango Venture Capital and TriplePoint Ventures. www.check.me

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