Deals of the Day: Avast Software now worth $1 billion

Feb 05, 2014

Dan Primack was a senior editor at Fortune from 2010 to 2016. He was also the author of Term Sheet, Fortune's daily newsletter about deals and dealmakers.

To get deals in your inbox each morning, sign up for our Term Sheet newsletter

Venture Capital Deals

Totango, a user engagement solution for cloud apps, has raised $15.5 million in Series B funding.Canvas Venture Fund and InterWest Partners co-led the round, and were joined by return backers Pitango Venture Capital and Gemini Israel Ventures. Totango has offices in both Israel and Silicon Valley.

Lumos Pharma, an Austin, Texas-based drug developer whose lead product is a therapeutic for creatine transporter deficiency, has raised $14 million in Series A funding. Sante Ventures and New Enterprise Associates co-led the round.

ThoughtSpot, a Redwood City, Calif.-based provider of a business data search app, has raised $10.7 million in Series A funding led by Lightspeed Venture

Tapingo, a mobile shopping platform with contextually-aware native apps, has raised $10.5 million in Series B funding. Khosla Ventures led the round, and was joined by return backer Carmel

Noom, a New York-based maker of weight loss and fitness apps for smartphones, has raised $7 million in Series A funding led by RRE

TrackMaven, a Washington, D.C.–based competitive intelligence platform for enterprise marketers, has raised $6.5 million in new VC funding. New Enterprise Associates led the round, and was joined by return backers Bowery Capital and Acceleprise Ventures.

Jivox, a Redwood City, Calif.-based multi-screen interactive advertising technology company, has raised $5.8 million in Series C funding. Fortisure Ventures led the round, and was joined by Shah Capital and return backers Diaz Nesamoney, Opus Capital and Helion Advisors.

Resourcing Edge Human Resources, a Rockwall, Texas-based provider of HR management solutions, has raised $3.65 million in growth equity funding from Central Valley

Motilo, a London-based social fashion Q&A community, has raised $2.2 million in new VC funding from undisclosed backers.

ADAR IT, a Chicago-based developer of enterprise-level cloud solutions for SMBs, has raised $2.4 million in Series A funding from MK Capital.

AtVenu Inc., a San Francisco–based provider of live event merchandise management, has raised $1.1 million in VC funding led by Real

Unitas Global, a Los Angeles-based provider of enterprise cloud infrastructure solutions to large organizations, has raised an undisclosed amount of VC funding led by MK Capital and Azure

Magic Leap, a Hollywood, Fla.-based developer of human computing interfaces and software, said that it has raised “more than $50 million” in seed and Series A funding from undisclosed investors. The company is led by MAKO Surgical co-founder Rony Abovitz.

Private Equity Deals

AxelaCare Health Solutions, a Lenexa, Kansas-based provider of specialty home infusion services, has acquired Los Angeles-based ARC Infusion Corp. Inc. from the company’s founder. No financial terms were disclosed. AxelaCare is a portfolio company of Harvest

CVC Capital Partners has agreed to make a “major investment” in Avast Software, a Czech Republic-based developer of anti-virus software, at a $1 billion enterprise value.  Some of the shares were purchased from Summit Partners, which invested $100 million into Avast for a 25% stake back in 2011. Summit will retain some ownership going forward.

Evergreen Pacific Partners has acquired a majority stake in Vantage Mobility International, a Phoenix-based maker and distributor of wheelchair accessible vehicles. No financial terms were disclosed.

FdG Associates has sold The Hercules Tire & Rubber Co., a Findlay, Ohio-based marketer of replacement tires, to American Tire Distributors Inc., a Huntersville, N.C.-based portfolio company ofTPG Capital. The deal was valued at around $320 million. BlackArch Partners managed the

Grey Mountain Partners has acquired Dimex, a Marietta, Ohio-based maker of plastic landscaping products. No financial terms were disclosed, except that Brookside Mezzanine Partners provided subordinated debt and an equity co-investment.

Japan Industrial Partners is in talks to acquire the Vaio personal computer business from Sony Corp. for upwards of $490 million, according to the FT.

Learfield Sports, a portfolio company of Providence Equity Partners, has acquired NelliganSports Marketing, a Little Falls, N.J.-based provider of sales and marketing services for collegiate sports properties.No financial terms were disclosed.

PBM Capital Group has acquired Breas Medical AB, a Swedish maker of home respiratory ventilators and sleep apnea products, from GE Healthcare. No financial terms were

PSP Capital Partners has acquired E.B. Bradley Co., a Los Angeles-based distributor of cabinet hardware, laminates and surfacing products, from Industrial Opportunity Partners. No financial terms were disclosed.

Thoma Bravo has agreed to acquire Global Healthcare Exchange LLC, a Louisville, Colo.–based provider of healthcare supply chain solutions. No financial terms were disclosed.


Continental Building Products Inc., a Reston, Va.-based maker of gypsum wallboard and complementary finishing products, raised $165 million in its IPO. The company priced 11.8 million shares at $14 per share, compared to plans to offer 13.24 million shares at between $16 and $18 per share. Its initial market cap is approximately $617 million, and it will trade on the NYSE under ticker symbol CBPX. Citigroup and Credit Suisse served as co-lead underwriters. CBP reports $32 million of net income on $252 million in revenue for the first nine months of 2013, and is owned by Lone Star Funds.

Diamond S Shipping Group, a Greenwich, Conn.-based provider of seaborne transportation of refined petroleum, has filed for a $100 million IPO. It plans to trade on the NYSE under ticker symbol DSG, with Jefferies and BofA Merrill Lynch serving as lead underwriters. The company reports $2.3 million in net income on around $134 million in revenue for the last nine months of 2013, compared to $13 million in net income on $132 million in revenue for the year-earlier period. Shareholders include W.L. Ross (32.2% pre-IPO stake), First Reserve Corp. (27.2%), ClarVal Investors (18.3%), Chengdong Investment Corp. (8.6%) and Siguler Guff Advisors (6.4%).

Grupo Aeromexico, a listed Mexican airline, is considering a future IPO for its frequent flier rewards program, according to Bloomberg.

Inogen Inc., a Goleta, Calif.-based maker of oxygen therapy equipment and services, has set its IPO terms to around 4.4 million shares being offered at between $16 and $18 per share. It would have an initial market cap of approximately $307 million, were it to price in the middle of its range. The company  plans to trade on the Nasdaq under ticker symbol INGN, with J.P. Morgan serving as lead underwriter. The company reports around $3.5 million in net income on $55.6 million in revenue for the first nine months of 2013. Shareholders include Novo AS (42.15% pre-IPO stake), Versant Ventures (26.08%), Arboretum Ventures (15.07%), Avalon Ventures (6.5%) and Accuitive Medical Ventures (5.95%).

Rubicon Project Inc., a Los Angeles-based provider of online ad sales automation, has filed for a $100 million IPO. It plans to trade on the NYSE under ticker symbol RUBI, with Morgan Stanley, Goldman Sachs and RBC Capital Markets. The company reports a $9.2 million net loss on around $56 million in revenue for the first nine months of 2013, compared to a $4.4 million net loss on $38 million in revenue for the year-earlier period. Shareholders include Clearstone Venture Partners (24% pre-IPO stake), News Corp. (21.3%), Mayfield Fund (15.6%), Peacock Equity and IDG Ventures


Entegris Inc. (

Haworth, a privately-held U.S. office furniture company, has agreed to acquire a 58.6% stake in Italian luxury furniture maker Poltrona Frau (BIT: PFG) for approximately €240 million from Charme Investments, and also said that it will bid for the remainder of the company.

Sunrun, a San Francisco-based residential solar company, has acquired the residential solar group ofMainstream Energy Corp. No financial terms were disclosed for the deal, which includes the REC Solar, AEE Solar and SnapNrack businesses. Sunrun has raised over $150 million in VC funding from Accel Partners, Sequoia Capital, Madrone Capital Partners and Foundation Capital.

Toll Brothers Inc. (NYSE: TOL) has acquired the homebuilding operations of Shapell Industries, a California land development and homebuilder, for $1.6 billion in cash. The deal includes around 5,200 home sites.

Myriad Genetics Inc. (Nasdaq: MYGN) has agreed to acquire Crescendo Bioscience Inc., a South San Francisco, Calif.-based developer of quantitative blood tests for rheumatoid arthritis and other auto-immune diseases, for $270 million in cash (minus $25m for a loan repayment). Crescendo Bioscience had raised just over $100 million in VC funding from firms like Aeris Capital, Kleiner Perkins Caufield & Byers, Mohr Davidow Ventures, Skyline Ventures and Safeguard Scientifics.

Vista Equity Partners and Bregal Sagemount are seeking a buyer for MicroEdge LLC, a New York–based maker of software for the philanthropy market, according to LBO Wire.

Sign up for Dan Primack's daily email newsletter on deals and deal-makers:

All products and services featured are based solely on editorial selection. FORTUNE may receive compensation for some links to products and services on this website.

Quotes delayed at least 15 minutes. Market data provided by Interactive Data. ETF and Mutual Fund data provided by Morningstar, Inc. Dow Jones Terms & Conditions: S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Terms & Conditions. Powered and implemented by Interactive Data Managed Solutions