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Deals of the Day: Blackstone plans SeaWorld share sale

By
Dan Primack
Dan Primack
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By
Dan Primack
Dan Primack
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March 24, 2014, 3:12 PM ET
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Venture Capital Deals

Actifio, a Waltham, Mass.-based provider of copy data virtualization solutions, has raised $100 million in new VC funding at a pre-money valuation of around $1 billion. Tiger Global Management led the round, and was joined by return backers North Bridge Venture Partners, Greylock Partners, Advanced Technology Ventures, Andreessen Horowitz and Technology Crossover Ventures. CEO Ash Ashutosh tells Fortune hat it was a competitive round with three term sheets, and that all of the capital is primary. He also says that the company’s revenue is nearly 3 times higher than it was when it raised $50 million last spring at a $500 million valuation. Actifio is not planning to go public within the next year, instead looking at a 16-24 month timeframe.www.actifio.com

Avazu Inc., a Shanghai-based performance advertising platform, has raised $48 million in Series A funding. No investors were identified. www.avazu.cn

Crowdtap, a New York-based social influence marketing platform, has raised $5 million in Series B funding. Foundry Group led the round, and was joined by fellow return backers Tribeca Venture Partners, Alta Communications and The Mustang Group. www.crowdtap.com

Phemi Health Systems
, a Vancouver-based process automation and big data platform for the healthcare market, has raised C$2.8 million in seed funding from BDC Venture Capital, Yaletown Venture Partners and individual angels. www.phemi.com

Stir
, a Los Angeles-based maker of “learning height-adjustable desks,” has raised $1.5 million in seed funding from Vegas TechFund and individual angels. www.stirworks.com

Private Equity Deals

Advent International, Bain Capital and ATP have agreed to acquire listed Nordic card payment company Nets Holding AS for around $3.1 billion. www.nets.eu

Clayton Dubilier & Rice is the frontrunner for German packaging group Mauser, according to Sky News. The deal could be valued at around €1.1 billion, with three other bidders still reported to be involved. www.cdr-inc.com

Compuware Corp. (Nasdaq: CPWR) is receiving private equity interest from Vista Equity Partnersand Thoma Bravo, according to Bloomberg. The Detroit-based software company received a $2.3 billion takeover bid last year from Elliott Management, which it then rejected in the hopes of a superior offer that never came. Its current market cap is $2.29 billion. www.compuware.com

EQT Partners has agreed to acquire I-MED Radiology Network, an Australia-based diagnostic imaging network. No financial terms were disclosed. EQT transacted the deal out of its mid-market fund, and was joined by co-investments from GIC and Caisse de dépôt et placement du Québec of Canada.www.eqt.se

IPOs

Corium International Inc., a Menlo Park, Calif.-based developer of pharma products that leverage transdermal and transmucosal delivery systems, has set its IPO terms to 5.5 million shares being offered at between $10 and $12 per share. It would have an initial market cap of around $184 million, were it to price in the middle of its range. The company plans to trade on the Nasdaq under ticker symbol CORI, with Jefferies and Leerink Partners serving as lead underwriters. Corium reports a $2 million net loss on $10 million in revenue for Q4 2013. Shareholders include Essex Woodlands Health Ventures (55.92% pre-IPO stake) and Barr Laboratories (9.97%). www.coriumgroup.com

Five9 Inc.
, a San Ramon, Calif.-based provider of cloud contact center software, has set its IPO terms to 10 million shares being offered at between $9 and $11 per share. It would have an initial market cap of around $460 million, were it to price in the middle of its range. The company plans to trade on the Nasdaq under ticker symbol FIVN, with J.P. Morgan, Barclays and BofA Merrill Lynch serving as lead underwriters. Five9 reports a $31 million net loss on $84 million in revenue for 2013, compared to a $19 million net loss on $64 million in revenue for 2012. Shareholders include Hummer Winblad Venture Partners (23.2% pre-IPO stake), Adams Street Partners (19.8%), Partech International (17.4%), Mosaic Venture Partners (17.4%) and SAP Ventures.www.five9.com

GrubHub
, a Chicago-based online food ordering company, has set its IPO terms to 7.03 million shares being offered at between $20 and $23 per share. It would have an initial market cap of around $1.68 billion, were it to price in the middle of its range. The company plans to trade on the NYSE under ticker symbol GRUB, with Citigroup listed as left lead underwriter. GrubHub reports $6.7 million in net income on $137 million in revenue for 2013. Shareholders include Spectrum Equity (12% pre-IPO stake), Warburg Pincus (9.1%), Thomas H. Lee Partners (8.9%), GS Capital Partners (8.9%), Benchmark (8.3%) and Origin Ventures (6.2%). www.grubhub.com

OPower
, an Arlington, Va.-based provider of energy efficiency and smart grid software, has set its IPO terms to 6.1 million shares being offered at between $17 and $19 per share. It would have an initial market cap of around $854 million, were it to price in the middle of its range. The company plans to trade on the NYSE under ticker symbol OPWR, with Morgan Stanley and Goldman Sachs serving as lead underwriters. OPower reports a $14 million net loss on nearly $89 million in revenue for 2013, compared to a $12 million net loss on $52 million in revenue for 2012. The company has raised over $65 million in VC funding from firms like New Enterprise Associates (21.8% pre-IPO stake), MHS Capital (8.3%), Accel Partners (5.4%) and Kleiner Perkins Caufield & Byers (5.4%). www.opower.com

Versartis Inc.
, a Mountain View, Calif.-based developer of therapeutics for patients with endocrine disorders, raised $126 million in its IPO. The company priced 6 million shares at $21 per share (high end of upwardly-revised range), for an initial market cap of approximately $489 million. It will trade on the Nasdaq under ticker symbol VSAR, with Morgan Stanley and Citigroup serving as lead underwriters. Shareholders in the pre-revenue company include New Leaf Venture Partners (24.4% pre-IPO stake), Index Ventures (22.4%), Advent Venture Partners (16.3%), Aisling Capital (11.9%) and Sofinnova Ventures (6.8%). www.versatis.com

M&A

The Blackstone Group is planning to sell 15 million shares of theme park operator SeaWorld Entertainment Inc. (NYSE: SEAS), via a secondary public offering co-led by Goldman Sachs and J.P. Morgan. At last Friday’s closing price of $33.17 per share, the deal would be worth around $498 million. Blackstone’s ownership stake would fall from 42.8% to around 25%. www.blackstone.com

G8 Education Ltd. (ASX: GEM) has agreed to acquire 91 early-learning centers from Sterling Early Education, a portfolio company of Macquarie Capital. The deal is valued at around Au$228 million.www.sterlingearlyeducation.com

Karyopharm Therapeutics
 (Nasdaq: KPTI), a Natick, MA-based developer of drugs directed against nuclear transport targets for the treatment of cancer and other major diseases, has filed for a $115 million secondary public offering. The company went public last November at $16 per share, and closed trading last Friday at $42.07 per share. Shareholders include Foresite Capital (7.99%) and Delphi Ventures (7.07%).  www.karyopharm.com

GIC has invested approximately $63 million into Intelligent Energy Holdings PLC, a UK-based provider of clean energy technology for the global consumer electronics, automotive and stationary power markets. The deal gives GIC around a 10% equity stake. www.intelligent-energy.com

Madison Square Garden Co. (Nasdaq: MSG) has agreed to acquire a 50% stake in Tribeca Enterprises, an independent film group co-founded by Robert De Niro, for $45 million, according to the NY Times. www.tribecafilm.com

Media General (NYSE: MEG) has agreed to acquire fellow local television broadcaster LIN Media(NYSE: LIN) for $1.6 billion, or $27.82 per share (28% premium to Friday’s closing price). The combined company would own 74 stations in 46 markets. cwww.mediageneral.com

Nokia said that the $7.5 billion sale of its handset business to Microsoft would close in April. The deal previously had been expected to close sometime this month. www.nokia.com

Rexam PLC (LSE: REX) has agreed to sell its healthcare containers and closures business to Berry Plastics (NYSE: BERY) for approximately $135 million. www.rexam.com

Standard Life (LSE: SL) said that it is in “”exclusive and advanced” talks to acquire Ignis Asset Management, an investment management firm with around £67 billion in AUM, from Phoenix Group Holdings (LSE: PHNX). An earlier report in The Sunday Times suggested that Standard Life was offering around £400 million for Ignis.  www.ignisasset.com

StoneMor Partners LP
 (NYSE: STON) has agreed to acquire a group of funeral assets – including 9 funeral homes, 12 cemeteries and 2 crematories in four states – from Service Corporation International (NYSE: SCI), which launched the divestiture plan following its recent acquisition ofStewart Enterprises Inc. No financial terms were disclosed. www.stonemor.com

WPP (LSE: WPP) has agreed to acquire a majority stake in digital consulting firm Cognifide Ltd. for an undisclosed amount. www.wpp.com

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