• Home
  • News
  • Fortune 500
  • Tech
  • Finance
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Deals of the day: Cerberus buying Safeway for $9.4 billion

By
Dan Primack
Dan Primack
Down Arrow Button Icon
By
Dan Primack
Dan Primack
Down Arrow Button Icon
March 7, 2014, 6:15 PM ET

To get deals in your inbox each morning, sign up for our Term Sheet newsletter

Venture Capital Deals

DigitalOcean, a New York-based cloud hosting service for developers, has raised $37.2 million in Series A funding. Andreessen Horowitz led the round, and was joined by seed backers CrunchFund and IA Ventures. www.digitalocean.com

Domain Surgical Inc., a Salt Lake City-based provider of ferromagnetic surgical tools, has raised $35 million in Series C funding. OrbiMed Advisors led the round, and was joined by return backer BioStar Ventures. www.domainsurgical.com

General Assembly
, a New York-based network of schools for digital business skills, has raised “over $35 million” in new VC funding. Institutional Venture Partners led the round, and was joined by GSV Capital, Rethink Education and Western Technology Investment. www.generalassemb.ly

Machinima
, a West Hollywood, Calif.–based YouTube network for gamers, has raised $18 million in new VC funding, according to Re/Code. Warner Brothers led the round, and was joined by return backers Google, MK Capital and Redpoint Ventures. www.machinima.com

Optio Labs
, a Nashville, Tenn.-based provider of security and productivity technologies for mobile and embedded systems, has raised $10 million in Series A funding led by parent company Allied Minds Inc. www.optiolabs.com

Polarion Software
, a San Francisco-based provider of an enterprise-scale browser-based ALM solution, has raised $10 million in Series A funding from Siemens Venture Capital. www.polarion.com

PrestaShop
, a Paris–based provider of free and open source e-commerce software, has raised $9.3 million in Series B funding. Backers include XAnge Private Equity, Seventure Partners and Serena Capital. www.prestashop.com

Emotient
, a San Diego-based provider of facial expression recognition solutions, has raised $6 million in Series B funding. Handbag LLC led the round, and was joined by return backer Intel Capital. The round officially closed in December, but only was announced this morning. www.emotient.com

Redlen Technologies
, a Canadian maker of semiconductor radiation detectors, has raised C$5.5 million in new VC funding. Pangaea Ventures led the round, and was joined by return backers like In-Q-Tel. www.redlen.com

Private Equity Deals

Cerberus Capital Management has agreed to acquire supermarket chain Safeway (NYSE: SWY) for approximately $9.4 billion, and then merge it with existing Cerberus portfolio company Albertsons. Safeway shareholders would receive $40 per share (1.3% premium to yesterday’s closing price), which includes $32.50 in cash and $3.65 in other distributions. The combined company would have more than 2,400 grocery stores and more than 250,000 employees. www.safeway.com

Audax Group has acquired Curt Manufacturing, an Eau Claire, Wis.-based maker of hitch and towing products, from Pfingsten Partners. No financial terms were disclosed. www.curtmfg.com

The Gores Group and Technology4Medicine have completed their previously-announced acquisition of a controlling interest in Fotona, a Slovenian manufacturer of lasers for medical, dental and aesthetic applications. No financial terms were disclosed, except that Los Angeles-based Gores is doing the deal via its small-cap fund. www.fotona.com

Mobile Technologies Inc.
, a portfolio company of Hammond, Kennedy, Whitney & Co., has acquired ArmorActive Inc., a Salt Lake City-based provider of tablet accessories and enclosures for business applications. No financial terms were disclosed. www.mobiletechinc.com

Trafficware Group Inc
., a Sugar Land, Texas-based portfolio company of KRG Capital Partners, has acquired PSI Acquisition LLC, a Salem, Ore.-based maker of intelligent traffic solutions like conflict monitors. No financial terms were disclosed. www.trafficwareinc.com

IPOs

Aquinox Pharmaceuticals Inc., a Vancouver-based developer of cancer and inflammation drugs, raised $46 million in its IPO. The company priced 4.2 million shares at $11 per share (middle of $10-$12 range), for an initial market cap of approximately $105 million. It will trade on the Nasdaq under ticker symbol AQXP, while Jefferies and Cowen & Co. served as lead underwriters. Shareholders include Ventures West (25.8% pre-IPO stake), Johnson & Johnson Development Corp. (23.8%), Baker Brothers (12.9%), Pfizer Inc. (16.5%), Augment Investments (8.1%) and BC Advantage Fund (7.3%).www.aqxpharma.com

Coupons.com Inc.
, a Mountain View, Calif.-based provider of digital coupons, raised $168 million in its IPO. The company priced 10.5 million shares at $16 per share, compared to plans to offer 10 million shares at between $12 and $14 per share. It has an initial market cap of approximately $1.16 billion. Coupons.com will trade on the NYSE under ticker symbol COUP, while Goldman Sachs, Allen & Co., BofA Merrill Lynch and RBC Capital Markets served as lead underwriters. It had raised over $230 million in VC funding from Passport Ventures (22.56% pre-IPO stake), T. Rowe Price, Abu Dhabi Investment Council and Greylock Partners. www.coupons.com

Q2 Holdings Inc.
, an Austin, Texas-based provider of cloud-based virtual banking solutions, has set its IPO terms to 7.76 million shares being offered at between $11 and $13 per share. It would have an initial market cap of approximately $383 million, were it to price in the middle of its range. The company plans to trade on the NYSE under ticker symbol QTWO, with J.P. Morgan and Stifel serving as lead underwriter. It reports an $11 million net loss on $41 million in revenue for the first nine months of 2013, compared to a $6 million net loss on $29 million in revenue for the year-earlier period. Shareholders include Adams Street Partners (37.6% pre-IPO stake) and Battery Ventures (18.5%).www.q2ebanking.com

Quotient Ltd.
, a UK-based provider of transfusion diagnostics solutions, has filed for a $75 million IPO. It plans to trade on the Nasdaq under ticker symbol QTNT, with UBS, Baird and Cowen & Co. serving as lead underwriters. Galen Partners holds a 51.3% pre-IPO stake in the company.www.quotientbd.com

Recro Pharma Inc.
, a Malvern, Penn.-based developer non-opioid therapeutics for the treatment of post-operative pain, raised $30 million in its IPO. The company priced 3.8 million shares at $8 per share, compared to original plans to offer 2.5 million shares at between $10 and $12 per share. The pre-revenue company will trade on the Nasdaq under ticker symbol REPH, while Aegis Capital served as lead underwriter. Shareholders include SCP Vitalife. www.recropharma.com

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

About the Author
By Dan Primack
See full bioRight Arrow Button Icon

Latest in

CryptoBinance
Binance has been proudly nomadic for years. A new announcement suggests it’s finally chosen a headquarters
By Ben WeissDecember 7, 2025
4 hours ago
Big TechStreaming
Trump warns Netflix-Warner deal may pose antitrust ‘problem’
By Hadriana Lowenkron, Se Young Lee and BloombergDecember 7, 2025
8 hours ago
Big TechOpenAI
OpenAI goes from stock market savior to burden as AI risks mount
By Ryan Vlastelica and BloombergDecember 7, 2025
8 hours ago
InvestingStock
What bubble? Asset managers in risk-on mode stick with stocks
By Julien Ponthus, Natalia Kniazhevich, Abhishek Vishnoi and BloombergDecember 7, 2025
8 hours ago
EconomyTariffs and trade
Macron warns EU may hit China with tariffs over trade surplus
By James Regan and BloombergDecember 7, 2025
8 hours ago
EconomyTariffs and trade
U.S. trade chief says China has complied with terms of trade deals
By Hadriana Lowenkron and BloombergDecember 7, 2025
8 hours ago

Most Popular

placeholder alt text
Real Estate
The 'Great Housing Reset' is coming: Income growth will outpace home-price growth in 2026, Redfin forecasts
By Nino PaoliDecember 6, 2025
2 days ago
placeholder alt text
AI
Nvidia CEO says data centers take about 3 years to construct in the U.S., while in China 'they can build a hospital in a weekend'
By Nino PaoliDecember 6, 2025
2 days ago
placeholder alt text
Economy
The most likely solution to the U.S. debt crisis is severe austerity triggered by a fiscal calamity, former White House economic adviser says
By Jason MaDecember 6, 2025
1 day ago
placeholder alt text
Economy
JPMorgan CEO Jamie Dimon says Europe has a 'real problem’
By Katherine Chiglinsky and BloombergDecember 6, 2025
1 day ago
placeholder alt text
Big Tech
Mark Zuckerberg rebranded Facebook for the metaverse. Four years and $70 billion in losses later, he’s moving on
By Eva RoytburgDecember 5, 2025
3 days ago
placeholder alt text
Politics
Supreme Court to reconsider a 90-year-old unanimous ruling that limits presidential power on removing heads of independent agencies
By Mark Sherman and The Associated PressDecember 7, 2025
16 hours ago
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • Future 50
  • World’s Most Admired Companies
  • See All Rankings
Sections
  • Finance
  • Leadership
  • Success
  • Tech
  • Asia
  • Europe
  • Environment
  • Fortune Crypto
  • Health
  • Retail
  • Lifestyle
  • Politics
  • Newsletters
  • Magazine
  • Features
  • Commentary
  • Mpw
  • CEO Initiative
  • Conferences
  • Personal Finance
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
About Us
  • About Us
  • Editorial Calendar
  • Press Center
  • Work At Fortune
  • Diversity And Inclusion
  • Terms And Conditions
  • Site Map

© 2025 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.