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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
October 21, 2013, 2:53 PM ET

AT&T (NYSE: T) has agreed to lease the rights to approximately 9,100 of its company-owned wireless towers to Crown Castle International Corp. (NYSE: CCI). AT&T also will sell approximately 600 of its towers to Crown Castle. The total deal is valued at approximately $4.85 billion in cash, plus up to another $4.2 billion in Crown Castle exercises future purchase options on the leased towers.www.att.com

Betterment, a New York-based investment platform for personal savings, has acquired ImpulseSave, a mobile app that encourages users to put money into their savings accounts. No financial terms were disclosed. Betterment has raised VC funding from Menlo Ventures, Bessemer Venture Partners and Anthemis Group. ImpulseSave had been seeded by TechStars and SV Angel. www.betterment.com

Maple Leaf Foods (TSX: MLI) said that it is seeking a buyer for its 90% stake in Canada Bread Co.www.mapleleaffoods.com

WebMD Health Corp. (Nasdaq: WBMD) has agreed to buy back around 5.5 million shares from Carl Icahn for $177.3 million, or $32.08 per share (Friday’s closing share price). www.webmd.com

Shanghai Pengxin, a Chinese industrial conglomerate, has agreed to acquire a majority stake in New Zealand dairy company Synlait Farms Ltd. at an enterprise value of approximately US$73 million. www.peng-xin.com.cn

TransLattice Inc.
, a Santa Clara, Calif.–based geographically distributed database company, has acquired StormDB Inc., a Red Bank, N.J.-based cloud services company. No financial terms were disclosed. TransLattice shareholders include DCM. www.translattice.com

Wonga.com, a UK-based online provider of short-term cash advance, has agreed to acquire BillPay, a German provider of online payment solutions (similar to PayPal). No financial terms were disclosed for the deal.  Wonga has raised around $145 million in VC funding from Balderton Capital, Accel Partners, Greylock Partners, Dawn Capital, Oak Investment Partners, Meritech Capital Partners and Wellcome Trust. BillPay was backed by Rocket Internet, Holtzbrinck Ventures and Investment AB Kinnevik. www.wonga.com

The Container Store Inc., a Coppell, Texas-based retailer owned by Leonard Green & Partners, has set its IPO terms to 12.5 million shares being offered at between $14 and $16 per share. It would have an initial market cap of $729 million, were it to price in the middle of its range. The company reports $30 million of net income on $707 million in revenue for the fiscal year ending March 2, 2013.www.containerstore.com

Hutchison Whampoa (HK: 13), a Hong Kong-based conglomerate, is considering an IPO for its A.S. Watson & Co. retail store unit, according to the WSJ. www.aswatson.com

Qunar, a Chinese travel search engine, has set its IPO terms to 11.11 million shares being offered at between $9.50 and $11.50 per share. It plans to trade on the NYSE under ticker symbol QUNR, with Goldman Sachs (Asia) and Deutsche Bank Securities serving as co-lead underwriters. The company reports a $2.8 million net loss on $58 million in revenue for the first half of 2013. Shareholders include Baidu (61.05% pre-IPO stake), GSR Ventures (6.27%) and Hillhouse Capital. www.qunar.com

Nimble Storage
, a San Jose, Calif.-based provider of flash storage solutions, has filed for a $150 million IPO. It plans to trade on the NYSE under ticker symbol NMBL, with Goldman Sachs and Morgan Stanley serving as lead underwriters. The company reports a $20 million net loss on $50 million in revenue for the first half of 2013, compared to a $10.5 million net loss on $19 million in revenue for the year-earlier period. The company has raised nearly $100 million in VC funding, from Accel Partners (20.9% pre-IPO stake), Sequoia Capital (20.9%), Lightspeed Venture Partners (15.8%) and Artis
Capital. www.nimblestorage.com

Novaled AG
, a German provider of OLED technologies and materials, has withdrawn registration for a $200 million IPO, following a previously-announced agreement to be acquired by Cheil Industries and Samsung Electronics. www.novaled.com

TetraLogic Pharmaceuticals, a Malvern, Penn.-based developer of small-molecule cancer drugs, has filed for a $103.5 million IPO. It plans to trade on the Nasdaq under ticker symbol TLOG. No underwriters are listed. The pre-revenue company has raised over $40 million in VC funding from Clarus Ventures (21.28% pre-IPO stake), HealthCare Ventures (14.76%), Quaker BioVentures (8.33%), Novitas Capital (8.11%), Pfizer (7.09%), Hatteras Venture Partners (7.06%) Latterell Venture Partners (5.76%), and NextTech Invest (5.32%). www.tetralogicpharma.com

58.com, a Chinese online marketplace for local merchants and consumers, has set its IPO terms to 11 million shares being offered at between $13 and $15 per share. The company plans to trade on the NYSE under ticker symbol WUBA, with Morgan Stanley, Credit Suisse and Citigroup serving as lead underwriters. It reports $285,000 in net income on $55 million in revenue for the first half of 2013, compared to a $19 million net loss on $34 million in revenue for the year-earlier period. Shareholders include Warburg Pincus (25.8% pre-IPO stake), SAIF Partners (20.5%) and DCM (16.6%).www.58.com

Bonmarché, a UK-based retailer of affordable clothes to women over 45 years old, said that it plans to go public on London’s AIM. The company was acquired out of administration in early 2012 by Sun Capital Partners. www.bonmarche.co.uk

Navigator Holdings Ltd.,
 a London-based owner and operator of a fleet of handysize liquefied gas carriers, has filed for a $200 million IPO. It plans to trade on the NYSE under ticker symbol NVGS, with Jefferies and Morgan Stanley serving as lead underwriters. The company is majority-owned by WL Ross & Co. (60.6% stake). www.navigatorgas.com

Relypsa Inc.
, a Redwood City, Calif.-based developer of non-absorbed polymeric drugs, has increased the proposed size of its IPO from $126.5 million to $138 million. It plans to trade on the Nasdaq, with Morgan Stanley and BoA Merrill Lynch serving as lead underwriters. The pre-revenue company has raised over $180 million in VC funding from OrbiMed Advisors (43.3% pre-IPO stake), 5AM Ventures (22.3%), Delphi Ventures (11.8%), New Leaf Ventures (10.4%), Sprout Capital (9.7%) and Sibling Capital (5.3%). www.relypsa.com

Voxeljet, a German maker of large-format 3D printers and on-demand parts services to industrial and commercial customers, raised $85 million in its IPO. The company priced 6.5 million shares at $13 per share (low end of $13-$15 range), and will trade on the NYSE under ticker symbol VJET. Piper Jaffray and Citigroup served as lead underwriters. Voxeljet reports $5.8 million in revenue for the first six months of 2013. Shareholders include Franz Industriebeteiligungen AG, Startkapital-Fonds Augsburg GmbH, AleSta Beteiligungs GmbH and Technologie Beteiligungsfonds Bayern. www.voxeljet.de

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

 

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