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M&A and IPOs

By
Dan Primack
Dan Primack
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By
Dan Primack
Dan Primack
Down Arrow Button Icon
June 20, 2013, 3:02 PM ET

Goldman Sachs has terminated its $743 million agreement to acquire Ebix Inc. (Nasdaq: EBIX), a –based provider of on-demand software and ecommerce services to the insurance market, after a U.S. Attorney in Georgia opened an investigation into possible misconduct at Ebix. www.ebix.com

Microsoft Corp.
 (Nasdaq: MSFT) recently held “advanced talks” over buying Nokia’s handset business, according to the WSJ. Discussions occurred as recently as this month, but fell apart over price and are not expected to be revived. www.microsoft.com

Sony
 CEO Kazuo Hirai said at the company’s annual meeting that Sony’s music and movie business were not on the auction block, although the board would continue to study the matter. Hedge fund manager Daniel Loeb has been advocating for a breakup of Sony. www.sony.com

Wright Medical Group Inc. (Nasdaq: WMGI) has agreed to sell its OrthoRecon business toMicroPort Scientific Corp. (HK: 0853) for $290 million in cash. www.wmt.com

Stratasys Ltd. (Nasdaq: SSYS) has agreed to acquire desktop 3D printing company MakerBot in an all-stock transaction that could be valued at upwards of $604 million (based on yesterday’s $84.60 per share price for Stratasys stock). That includes an initial payout of 4.76 million shares and up to 2.38 million shares tied to performance-based earnouts through the end of 2014. MakerBot had raised around $13 million in VC funding from Foundry Group, RRE Ventures, True Ventures, Bezos Expeditions, Founder Collective and 500Startups. www.makerbot.com

Net(net), a Holland, Mich.-based provider of IT investment optimization services, has acquiredxPeerient, a cloud-based IT marketplace that had raised VC funding from Stage 1 Ventures. No financial terms were disclosed. www.netnetweb.com

PTC Therapeutics Inc., a South Plainfield, N.J.-based developer of drugs that target post-transcriptional control processes, raised $126 in its IPO. The company priced 8.4 million shares at $15 per share, compared to plans to offer 6.9 million shares at between $13 and $16 per share. It will trade on the Nasdaq under ticker symbol PTCT, with J.P. Morgan and Credit Suisse serving as lead underwriters. PTC reports a $26 million net loss on $34 million in revenue for 2012, compared to $30 million in net income on $105 million in revenue for 2011. It had raised over $170 million in VC funding, from Credit Suisse First Boston (14.8% pre-IPO stake), HBM Healthcare Investments (12%), Vulcan Capital (9%), Brookside Capital Partners (7%), Celgene (7%), Delphi Ventures (6.3%), Novo A/S and The Column Group. www.ptcbio.com

Sign up for Dan’s daily email newsletter on deals and deal-makers: GetTermSheet.com

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By Dan Primack
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