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M&A

By
Dan Primack
Dan Primack
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By
Dan Primack
Dan Primack
Down Arrow Button Icon
August 15, 2011, 1:45 PM ET

Hewlett-Packard (NYSE: HPQ) confirmed that it is in talks to acquire UK-listed enterprise search software company Autonomy Corp. for approximately $10.3 billion ($42.10 per share, 64% premium). It also said it would kill off its tablet and smartphone products, while considering a spin-out of its PC business.www.hp.com

Reliance Communications has retained UBS to help it sell a 95% stake in its Reliance Infratel tower unit, according to Reuters. Reliance is seeking around $5 billion, and expects interest from both private equity and strategic buyers.

Liberty Media has agreed to purchase $204 million of convertible preferred stock in bookseller Barnes & Noble Inc. (NYSE: BKS).

HubSpot Inc., a Cambridge, Mass.-based provider of an all-in-one marketing software platform for SMEs, has acquired social media marketing company OneForty. No financial terms were disclosed. HubSpot has raised around $65 million in VC funding from Sequoia Capital, Google Ventures, SalesForce.com, General Catalyst Partners, Matrix Partners and Scale Venture Partners. OneForty had raised over $2 million from Flybridge Capital Partners, Javelin Venture Partners and individual that included HubSpot founder Darmesh Shah. www.hubspot.com

Skyworks Solutions Inc. (Nasdaq: SWKS) has completed its previously-announced acquisition of SiGe Semiconductor Inc., an Ottawa-based supplier of RF front-end solutions for wireless systems. The deal was valued at up to $275 million, including a $210 million up-front cash payment and $65 million in potential milestone payments. SiGe yesterday withdrew registration for a $143.75 million IPO. It previously raised around $132 million in VC funding from Prism VentureWorks (19.8% stake), VenGrowth (15.5%), W Capital Partners (11.2%), TD Capital and Caisse de depot et placement du Quebec. www.sige.com

THURSDAY, AUGUST 18

Celgene Corp. (Nasdaq: CELG) said that its board has authorized the company to repurchase $2 billion in additional shares. Celgene already had around $2.25 billion in share repurchase authorizations.www.celgene.com

Cree Inc. (Nasdaq: CREE) has agreed to acquire outdoor LED lighting company Rudd Lighting Inc. for approximately $525 million. www.cree.com

Consol Energy Inc. (NYSE: CNX) has agreed to sell half of its Marcellus shale acreage in Pennsylvania and West Virginia to Noble Energy (NYSE: NBL) for $3.4 billion.

Pacific Equity Partners and Unitas Capital have agreed to sell New Zealand-based beverages group Independent Liquors to Japan’s Asahi Group Holdings for $1.3 billion. www.independentliquor.co.nz

WEDNESDAY, AUGUST 17

InterDigital Inc. (Nasdaq: IDCC) is being circled by such companies as Apple, Nokia and Qualcomm, according to Reuters. The wireless telecom company has a market cap of approximately $3 billion.

SABMiller is going hostile in its $10 billion bid for Australian brewing company Foster’s, after its initial A$4.90 per share approach was rejected by the Foster’s board. www.fostersbeer.com

BuyWithMe, a New York-based group buying site, has acquired Scoop St., a discount deal provider focused on New York City. No financial terms were disclosed. BuyWithMe has raised over $21 million in VC funding from Bain Capital Ventures and Matrix Partners. www.buywithme.com

Chico’s (NYSE: CHS) has agreed to acquire Boston Proper, a Boca Raton, Fla.-based women’s clothing and accessories retailer. The deal is valued at $205 million. www.chicos.com

Digital Chocolate, a San Mateo, Calif.-based gaming company, has acquired Sandlot Games, a casual game developer and publisher whose titles include Cake Mania. No financial terms were disclosed. Digital Chocolate has raised $52 million in VC funding from Bridgescale Partners, Sutter Hill Ventures, Kleiner Perkins, Outlook Ventures, Chengwei Ventures, Bob Pittman and Sequoia Capital.www.digitalchocolate.com

Ladenburg Thalmann Financial Services Inc. (Amex: LTS) has agreed to buy independent brokerage operator Securities America from Ameriprise Financial (NYSE: AMP) for $150 million in cash, according to Reuters. www.ameriprise.com

Veritas Capital has agreed to sell Vangent, an Arlington, Va.-based provider of healthcare IT and business systems to federal agencies, to General Dynamics (NYSE: GD) for approximately $960 million.www.vangent.com

Citi Capital Advisors has acquired the management responsibilities for four collateralized loan obligations from DiMaio Ahmad Capital LLC, representing $2 billion in assets under management.www.citicapitaladvisors.com

TUESDAY, AUGUST 16

Ellie Mae (NYSE: ELLI) has acquired Del Mar Datatrac Inc., a provider of process management software for the residential mortgage market. No financial terms were disclosed. Sellers included TVC Capital and Northgate Capital.

Permira has agreed to sell Dutch animal nutrition company Provimi to Cargill for €1.5 billion.www.provimi.com

KAR Auction Services Inc. (NYSE: KAR) has agreed to acquire OpenLane Inc., a Redwood City, Calif.-based provider of online B2B automotive remarketing services. The deal is valued at $210 million in cash, plus an increase for excess cash on OpenLane’s balance sheet at closing. OpenLane has raised private equity funding from August Capital, Meritech Capital Partners and RPM Ventures.www.openlane.com

KPS Capital Partners has agreed to sell Attends Healthcare Inc., a Greenville, N.C.-based maker of adult incontinence products, to Domtar Corp. (NYSE: UFS) for $315 million in cash. www.kpsfund.com

WhaleShark Media, an Austin, Texas-based online coupon and deals marketplace, has acquiredeConvesions Ltd., operator of coupon code e-newsletters in the UK and Germany. No financial terms were disclosed. WhaleShark has raised VC funding from Google Ventures, Austin Ventures, Norwest Venture Partners and Adams Street Partners. www.whalesharkmedia.com

MONDAY, AUGUST 15

Time Warner Cable has agreed to acquire Insight Communications, the nation’s 10th-largest cable TV operator, for approximately $3 billion in cash. Insight currently is owned by The Carlyle Group, MidOcean Partners and Crestview Partners. www.myinsight.com

Bank of America (NYSE: BAC) has agreed to sell its $8.6 billion Canadian credit card business to TD Bank Group for an undisclosed amount. BoA also announced plans to exit its UK and Ireland credit card business. www.bankofamerica.com

FusionStorm International, a Woburn, Mass.-based provider of end-to-end IT solutions to international commercial and public-sector clients, has filed for a $175 million IPO. It plans to trade on the Nasdaq under ticker symbol FSTM, with Needham & Co. serving as co-lead underwriter. www.fusionstorm.com

Transocean (NYSE: RIG) has agreed to acquire Aker Drilling, an operator of two ultra-deepwater rigs in Norway, for $1.43 billion in cash. www.transocean.com

WW Grainger (NYSE: GWW) has agreed to acquire Dutch fasteners company Fabory Group for around $344 million. www.grainger.com

Bright Food Group of China is in talks to acquire a stake in Australian food company Manassen Foods, which currently is owned by Champ Private Equity, according to Reuters. The deal could give Manassen an enterprise value of more than A$500 million.

Go here for last week’s M&A deals.

About the Author
By Dan Primack
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