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The U.S. spent $30 billion to ditch textbooks for laptops and tablets: The result is the first generation less cognitively capable than their parents

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The U.S. spent $30 billion to ditch textbooks for laptops and tablets: The result is the first generation less cognitively capable than their parents

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Current price of oil as of July 13, 2026

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Current price of silver as of Monday, July 13, 2026

M&A and IPOs

By
Dan Primack
Dan Primack
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By
Dan Primack
Dan Primack
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September 11, 2013, 2:29 PM ET
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AT&T (NYSE: T) has paid $1.9 billion in cash to acquire 700 MHz spectrum from Verizon Wireless(NYSE: VZ). www.att.com

Abu Dhabi Investment Authority has acquired Tourism Asset Holdings Ltd., Australia’s largest hotel owner. No financial terms were disclosed for the deal. France-based Accor SA (Paris: AC) will continue to manage the 31 properties. www.tahl.com.au

FleetCor Technologies Inc. (NYSE: FLT) has acquired VB Servicos, a provider of transportation cards and vouchers in Brazil. It also has agreed to acquire DB Trans SA, a provider of payment solutions for independent truckers in Brazil. The two deals are valued at a total of around $300 million.www.fleetcor.com

Anchorage Capital Partners has hired Goldman Sachs and Macquarie Group to explore strategic options for Australian retailer Dick Smith Electronics, including a possible IPO, according to Reuters.www.dicksmith.com.au

Applied Optoelectronics Inc., a Sugar Land, Texas-based provider of fiber-optic networking product, has set its IPO terms to 3.6 million shares being offered at between $13 and $15 per share. It would have an initial market cap of approximately $177 million, were it to price in the middle of its range. The company plans to trade on the Nasdaq under ticker symbol AAOI, with Raymond James and Piper Jaffray serving as lead underwriters. Applied Optoelectronics reports a $1.3 million net loss on around $34 million in revenue for the first half of 2013. Shareholders include Technology Associates Management. www.ao-inc.com

Covisint Corp., a Detroit-based cloud engagement platform being spun out of Compuware (Nasdaq: CPWR), has set its IPO terms to 6.4 million shares being offered at between $9 and $11 per share. It would have an initial market cap of approximately $364 million, were it to price in the middle of its range. The company plans to trade on the Nasdaq under ticker symbol COVS, with Credit Suisse and Pacific Crest Securities serving as lead underwriters. The company reports a $5.6 million net loss on $90 million in revenue for the year ending March 31, 2013. www.covisint.com

Veeva Systems, a Pleasanton, Calif.-based provider of CRM and content management solutions for the biotech, pharma and animal health markets, has filed for a $150 million IPO. It plans to trade on the NYSE under ticker symbol VEEV, with Morgan Stanley and Deutsche Bank serving as lead underwriters. The company reports nearly $19 million in net income on $129.5 million in revenue for the year ending Jan. 31, 2013, compared to $4 million of net income on $61 million in revenue for the year-earlier period. Shareholders include Emergence Capital Partners (31.1% ownership stake). www.veeva.com

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

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