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Gates Foundation's $540 million gift to science comes as the federal government pulls back on funding

M&A and IPOs

By
Dan Primack
Dan Primack
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By
Dan Primack
Dan Primack
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July 16, 2013, 5:30 PM ET
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Abbott Labs (NYSE: ABT) has agreed to acquire IDEV Technologies, a developer of a stent system for treating blockages in blood vessels due to peripheral artery disease. The deal is valued at $310 million net of cash and debt. IDEV had raised more than $90 million in VC funding, from PTV Sciences, Bay City Capital, RiverVest Venture Partners, PJC Capital and Heron Capital. www.indevmd.com

Apple Inc.
 (Nasdaq: AAPL) is in talks to acquire PrimeSense, an Israeli developer of 3D machine vision technologies for digital devices, according to Calcalist. No financial terms were reported. PrimeSense has raised around $85 million in VC funding from Canaan Partners, Gemini Israel Funds, Genesis Partners, Kreos Capital and Silver Lake. www.primesense.com

Cinven is in talks with creditors of portfolio company Frans Bonhomme, a French manufacturer of plastic tubing, in an attempt to restructure the company’s €600 million debt load, according to Private Equity International. One possible outcome is a debt-for-equity swap. www.cinven.com

Baidu (Nasdaq: BIDU) is planning to acquire Chinese Android app developer 91 Wireless fromNetDragon Websoft (HK: 777) for approximately $1.9 billion. www.baidu.com

Bally Technologies (NYSE: BYI) has agreed to acquire Las Vegas-based casino gaming equipment maker SHFL Entertainment Inc. (NYSE: SHFL). The deal is valued at around $1.3 billion in cash, ort $23.25 per share (24% premium to yesterday’s closing price). www.shufflemaster.com

Privateer Holdings Inc., a new investment firm focused on companies in the cannabis industry, has raised $7 million in funding from unidentified high net worth individual investors and family offices.www.privateerholdings.com

VMware Inc. (NYSE: VMW) has sold the assets of Zimbra, a provider of enterprise email and collaboration software, to Telligent Systems, a Dallas-based provider of community applications and social intelligence software solutions. No financial terms were disclosed. VMWare had purchased Zimbra from Yahoo in 2010 for $100 million in cash. Telligent shareholders include Intel Capital.www.zimbra.com

Fireman Capital Partners and Webster Capital have agreed to sell Hudson Clothing Holdings Inc., a Los Angeles-based designer and marketer of men’s and women’s branded jeans, to Joe’s Jeans Inc. (Nasdaq: JOEZ). The deal is valued at approximately $97.6 million, to be paid in cash and convertible notes. Ww.hudsonjeans.com

Madison Dearborn Partners is planning to sell between 10 million and 11.5 million shares of Boise Cascade LLC (NYSE: BCC), a Boise, Idaho-based maker of engineered wood products, via a public offering. Boise Cascade went public earlier this year at $21 per share, and closed trading last Friday at $28.16 per share. If Madison Dearborn sells all 11.5 million shares, its ownership stake would fall from 68.7% to 42.1%. www.bc.com

SAIF Partners has agreed to sell Reservoir Group, a Scottish provider of oil and gas well analytics, to Australia’s ALS Ltd. (ASX: ALQ) for US$533 million. www.reservoir-group.com

Associated Materials Inc., a Cuyahoga Falls, Ohio-based manufacturer and distributor of exterior residential building products in North America, has filed for a $100 million IPO. Goldman Sachs, Barclays and UBS are serving as lead underwriters. The company reports a $38 million net loss on $1.14 billion in sales for fiscal 2012. It is owned by Hellman & Friedman.www.associatedmaterials.com

Coskata Inc., a Warrenville, Ill.-based developer of technologies for processing biorefuse into ethanol, has withdrawn registration for a $100 million IPO, due to “market conditions.” It had planned to trade on the Nasdaq, with Citigroup, Barclays Capital and Piper Jaffray serving as co-lead underwriters. The company has raised over $80 million in VC funding, from firms like Khosla Ventures (27.7% pre-IPO stake), Blackstone Group (20.24%), Advanced Technology Ventures (17.68%), GreatPoint Ventures (15.63%), Total SA (5.61%), Globespan Capital Partners and General Motors. www.coskata.com

Third Point Reinsurance, a Bermuda-based specialty property and casualty reinsurer, has filed for a $250 million IPO. It plans to trade on the NYSE under ticker symbol TPRE, with J.P. Morgan, Credit Suisse and Morgan Stanley serving as co-lead underwriters. Backers include Kelso & Co., Pine Brook Road Partners and Dan Loeb. www.thirdpointre.bm

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