Mergers & acquisitions

January 24, 2013, 7:53 PM UTC

Citigroup CEO Michael Corbat told Bloomberg TV that “today, it doesn’t make sense” for the firm to sell assets.

Connecture Inc., an Atlanta-based health insurance process automation company, has acquired DRX, a Los Angeles–based provider of online shopping and enrollment systems for consumers of Medicare health plans. No financial terms were disclosed. Connecture last year raised $20 million in venture recap funding sponsored by existing shareholders GreatPoint Partners and Chrysalis Ventures. DRX backers included Lemhi Ventures.

Electra Partners has hired Rothschild to explore a possible sale of refinancing of Allflex, a provider of livestock management and animal electronic identification systems, according to Reuters. The company reportedly is valued at around $1 billion.

Guavus Inc., a Santa Clara, Calif.–based provider of provider of big data analytics solutions for communications service providers, has acquired Neuralitic Systems, a Montreal–based provider of mobile data monetization and marketing analytics. No financial terms were disclosed. Guavus recently announced $30 million in new VC funding from Investor Growth Capital, QuestMark Partners, Artiman Ventures, Sofinnova Ventures and Intel Capital. Neuralitic Systems backers included Export Development Canada, BlackBerry Partners Fund, BDC Venture Capital, Vertex Venture Capital and GO Capital.

McGraw-Hill (NYSE: MHP) has agreed to acquire a 20% stake in Danish adaptive learning companyArea9, according to TechCrunch. No financial terms were disclosed.

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