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FinanceDeals

Deals of the day: GE to sell home appliance unit?

By
Dan Primack
Dan Primack
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By
Dan Primack
Dan Primack
Down Arrow Button Icon
July 17, 2014, 10:48 AM ET
Finance
contract armin harrisKyle Bean for Fortune

Venture Capital Deals

Funding Circle, a London–based online marketplace for business lending, has raised $65 million in Series D funding. Index Ventures led the round, and was joined by return backers Accel Partners, Union Square Ventures and Ribbit Capital. The company also announced that Bob Steel, CEO of Perella Weinberg Partners, is joining its board of directors. www.fundingcircle.com

Pond5, a New York-based online marketplace for video footage and stock media, has raised $61 million in new equity funding from Accel Partners and Stripes Group. www.pond5.com

NetBase
, a Mountain View, Calif.-based social analytics startup, has raised $15.2 million in Series D funding ($10.2m of which has been called). SAIF Partners was joined by return backers Thomwest Ventures, Altos Ventures and WestSummit Capital. www.netbase.com

Edico Genome
, a San Diego-based developer of a sequencing bioinformatics application-specific integrated circuit, has raised $10 million in Series A funding. Qualcomm Ventures led the round, and was joined by Axon Ventures and Greg Lucier (CEO of Life Technologies). www.EdicoGenome.com

Relcy
, a mobile-only search engine, has raised $9 million in VC funding from Khosla Ventures andSequoia Capital. www.relcy.com

Crowdcube
, a UK-based investment crowdfunding platform, has raised £3.8 million in VC funding fromBalderton Capital. The company also plans to raise an additional £1.2 million via its own platform, which opens next Tuesday.

InflaRx, a German developer of a monoclonal antibody to treat acute inflammatory indications, has raised “double digital million euros” of Series B funding led by Bm|t. www.inflarx.com

Private Equity Deals

ASP4all Bitbrains,, a Dutch provider of managed hosting and cloud services, has raised an undisclosed amount of private equity funding from Vitruvian Partners. www.bitbrains.com

Onex Partners said that is has agreed to acquire York Risk Services Group, a Parsippany, N.Y.-based insurance claims services company, from ABRY Partners for around $1.33 billion. Morgan Stanley managed the process. www.yorkrsg.com

IPOs

HealthEquity Inc., a Draper, Utah-based provider of healthare savings solutions, has set its IPO terms to 9.1 million shares being offered at between $10 and $12 per share. It would have an initial market cap of approximately $546 million, were it to price in the middle of its range. million IPO. The company plans to trade on the Nasdaq under ticker symbol HQY, with J.P. Morgan and Wells Fargo serving as lead underwriter. It reports $3.8 million in net income on $20.2 million in revenue for Q1 2014, compared to $422,000 in net income on $14.6 million in revenue for the year-earlier period. Shareholders include Berkley Capital (36.8% pre-IPO stake) and Napier Park Global Capital (10%).www.healthequity.com

Roka Bioscience, a Warren, N.J.-based developer of an automated molecular instrument for food pathogen detection, raised $60 million in its IPO. The company priced 5 million shares at $12 per share (below $14-$16 range), for an initial market cap of $217 million.. It will trade on the Nasdaq under ticker symbol ROKA, while BofA Merrill Lynch and Leerink Partners served as lead underwriters. The company reports a $29.5 million net loss on around $2.5 million in revenue for 2013. It has raised around $110 million in VC funding from such firms as Advisors (26.2% pre-IPO stake), New Enterprise Associates (24.3%), TPG Biotech (22.6%), Fidelity Investments (9.6%) and Aisling Capital (8.5%).www.rokabio.com

TerraForm Power Inc., a Beltsville, Md.-based company formed to own and operate contracted cleanpower generation assets acquired from SunEdison (NYSE: SUNE) and unaffiliated third parties, has increased its IPO price range from $19-$21 to $23-$25. It still plans to offer nearly 20.07 million shares and trade on the Nasdaq under ticker symbol TERP. Goldman Sachs, Barclays and Citigroup are serving as lead underwriters. www.sunedison.com

TubeMogul
, an Emeryville, Calif.-based video marketing company, has cut its IPO price range from $11-$13 to $7-$8 per share. It still plans to offer 6.25 million shares and list on the Nasdaq under ticker symbol TUBE. BofA Merrill Lynch, Citigroup and RBC Capital Markets are serving as lead underwriters. The company reports a $7.4 million net loss on $57 million in revenue for 2013, compared to a $3.5 million net loss on $34 million in revenue for 2012. Shareholders include Trinity Ventures (26.5% pre-IPO stake), Foundation Capital (22.7%), Northgate Capital (8%), SingTel Group, Cross Creek Capital and Digital Advertising Consortium. www.tubemogul.com

Zosano Pharma Corp., a Fremont, Calif.-based developer of transdermal delivery patches for the treatment of severe osteoporosis, has set its IPO terms to 6.4 million shares being offered at between $10 and $12 per share. It would have an initial market cap of approximately $134 million, were it to price in the middle of its range. The company plans to trade on the Nasdaq under ticker symbol ZSAN, with Wedbush PacGrow Life Sciences serving as lead underwriter. Shareholders include BioMed Realty (39.58% pre-IPO stake) and New Enterprise Associates (34.91%). www.zosanopharma.com

M&A

Billtrust, a Hamilton, N.J.–based provider of outsourced billing services in North America, has acquiredOpen Scan Technologies Inc., a Denver–based cash application software development company. No financial terms were disclosed. Billtrust has raised around $29 million in VC funding from firms like Bain Capital Ventures and Edison Ventures. www.billtrust.com

General Electric
(NYSE: GE) is in talks to sell its household appliances business for between $1.5 billion and $2.5 billion, according to Bloomberg. www.ge.com

Gtech, the listed Italian lottery company, has agreed to acquire International Game Technology(NYSE: IGT), a Las Vegas-based maker of slot machines and other casino equipment, for approximately $4.7 billion in cash and stock. The deal valued IGT shares at $18.25 a piece, which is around 46% higher than where the company was trading prior to June news reports that it was considering a sale. www.igt.com

Platts, a unit of McGraw Hill Financial (NYSE: MHFI), has acquired Eclipse Energy Group, a London-based provider of data and analysis on the European gas, power and global liquefied natural gas markets. No financial terms were disclosed. www.mhfi.com

Realogy Holdings Corp. (NYSE: RLGY) has agreed to acquire ZipRealty (Nasdaq: ZIPR) for approximately $166 million, or $6.75 per share (123.5% premium to Tuesday’s closing price).www.ziprealty.com

Volkswagen has held talks about acquiring Italian carmaker listed Fiat Chrysler Automobiles, according to a German media report. www.volkswagen.des Genstar Capital has completed its previously-announced sale of Evolution1, a Simsbury, Conn.–based provider of consumer directed health payment software, to WEX Inc. (NYSE: WEX) for $532.5 million. www.evolution1.com

RLJ Equity Partners has sold Media Source Inc., a Plain City, Ohio-based provider of content, information and advice to the library market, to an undisclosed buyer. No financial terms were disclosed. Piper Jaffray & Co. managed the process. www.rljequitypartners.com

TellApart, a Burlingame, Calif.–based provider of personalized marketing solutions for omnichannel commerce, has acquired Freshplum, a Palo Alto, Calif.-based developer of a revenue analytics solution for digital commerce. No financial terms were disclosed. TellApart has raised over $17 million in VC funding from firms like Greylock Partners and Bain Capital Ventures, while AdStack was seeded by New Enterprise Associates, Greylock Partners, Google Ventures and Charles River Ventures.www.freshplum.com

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