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

Deals of the day: High-speed trader delays IPO

By
Dan Primack
Dan Primack
Down Arrow Button Icon
By
Dan Primack
Dan Primack
Down Arrow Button Icon
April 2, 2014, 2:57 PM ET

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

Venture Capital Deals

Bima, a provider of mobile-delivered insurance in emerging markets, has raised $22 million in new VC funding from return backers Kinnevik, LeapFrog Investments and Millicom. www.bimamobile.com

Transcend Medical Inc.
, a Menlo Park, Calif.-based developer of medical devices to treat glaucoma, has raised $22 million in Series C funding. An undisclosed “global pharmaceutical and medical device company” was joined by return backers Investor Growth Capital, HLM Venture Partners, Canaan Partners, Latterell Venture Partners, Technology Partners, Morgenthaler Ventures and Split RockPartners.www.transcendmedical.com

Somo
, a London-based mobile marketing and advertising company, has raised $5.5 million in new VC funding from existing investor MMC Ventures. www.somoglobal.com

OpenFin
, a New York-based provider of HTML5 runtime technology for financial desktops, has raised $4 million in Series A funding led by Bain Capital Ventures. www.openfin.co.

Creads
, a French online marketplace for “creative” jobs, has raised €3 million in new VC funding fromCM-CIC Capital Privé. www.creads.fr

Sookasa Inc
., a Mountain View, Calif.-based developer of compliance solutions for cloud apps and mobile devices, has raised an undisclosed amount of Series A funding. Accel Partners led the round, and was joined by return backers First Round Capital, Andreessen Horowitz and SV Angel.www.sookasa.com

BitPay Inc., an Atlanta-based payment processor for Bitcoin, is in the process of raising between $20 and $30 million in new VC funding from firms like Index Ventures, according to VentureWire. The company previously secured $2 million in seed funding led by Founders Fund. www.bitpay.com

Private Equity Deals

Captivate Network, operator of an IP-enabled digital place-based media network, has agreed to buyOffice Media Network, a Chicago-based operating of advertising screens in office building elevators and common areas, from Lake Capital for an undisclosed amount of cash and stock. Captivate Network is backed by Generation Partners and Gannett Inc. (NYSE: GCI). www.captivate.com

Madison Dearborn Partners and Covant have completed their previously-announced acquisition ofLGS Innovations, a provider of networking and communications solutions to the U.S. federal government, from Alcatel-Lucent. The deal includes a $100 million up-front payment, and upwards of $100 million in earn-outs. www.lgsinnovations.com

IPOs

Imprivata, a Lexington, Mass.-Enable Midstream Partners LP, an Oklahoma City-based developer and operator of natural gas and crude oil infrastructure assets, has set its IPO terms to 25 million units being offered at between $19 and $21 per unit. It plans to trade on the NYSE under ticker symbol ENBL, with Morgan Stanley, Barclays and Goldman Sachs serving as lead underwriters. Shareholders are  CenterPoint Energy (NYSE: CNP), OGE Energy Corp. (NYSE: OGE) and ArcLight Capital Partners.www.centerpointenergy.com

GrubHub
, a Chicago-based online food ordering company, has increased its IPO pricing range from $20-$23 per share to $23-$25 per share. It still plans to offer 7.03 million shares, and now would have an initial market cap of around $1.88 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

Scynexis Inc.
, a Durham, N.C.-based developer of therapeutics for fungal infections, has amended its proposed IPO terms to 7.33 million shares being offered at between $7 and $8 per share. It previously filed to sell 4.23 million shares at between $12 and $14 per share. The company plans to trade on the Nasdaq under ticker symbol SCYX, with RBC Capital Markets and Canaacord Genuity serving as lead underwriters. Scynexis reports a $23 million net loss on $16.8 million of revenue for 2013. Shareholders include Ventech Capital (18.29% pre-IPO stake), Merial Ltd. (6.29%), Alta Partners (18.09%), Burrill & Co. (9.56%), S.R. One Ltd. (9.35%). www.scynexis.com

Virtu Financial Inc., a New York-based high-speed trading company partially owned by Silver Lake, reportedly is pushing back its planned IPO, due to the recent controversy spurred by the new Michael Lewis book “Flash Boys.” The company expects to list on the Nasdaq under ticker symbol VIRT, with Goldman Sachs, J.P. Morgan and Sandler O’Neill serving as lead underwriters. It reports $182 million in net income on $665 million in revenue for 2013, compared to an $88 million net income on $616 million in revenue for 2012.www.virtu.com

M&A

Apple is one of several companies reportedly in talks to acquire a 55% stake in the smartphone display chip unit of Japan’s Renesas Electronics (Tokyo: 6723), according to Reuters. The deal could be valued at more than $450 million. www.renesas.com

The Cofco Corp., a state-owned food conglomerate in China, has agreed to acquire a majority stake in Noble Group’s agriculture business for $1.5 billion. www.cofco.com

Glen Taylor, owner of the Minnesota Timberwolves basketball franchise, has agreed to acquire The Minneapolis Star Tribune for an undisclosed amount of cash. The newspaper has been controlled by lenders Wayzata Investment Partners and GE Capital since coming out of bankruptcy protection in 2009. www.startribune.com

ABS Capital Partners is exploring strategic options for Alarm.com, a Vienna, Va.-based provider of smartphone app-controlled home security systems, including a possible IPO or sale of the company, according to The Financial Times. www.alarm.com

Apax Partners has hired Jefferies to find a buyer for ALM Media, a trade publisher and events company whose flagship brand is American Lawyer, according to Reuters. ALM generates around $55 million in EBITDA. www.alm.com

Morningstar Inc. (Nasdaq: MORN) has acquired ByAllAccounts Inc., a Woburn, Mass.-based provider of innovative data aggregation technology for financial applications, for $28 million. ByAllAccounts had raised around $10 million in VC funding from Commonwealth Capital Venturesand Castile Ventures. www.byallaccounts.com

RentPath, a Norcross, Va.-based vertical search company for apartment and home renters, has acquired Lovely, a San Francisco-based mobile-powered end-to-end rental marketplace, for $13 million in cash. Lovely had raised around $2 million in VC funding from firms like Felicis Ventures, Founder Collective, S-Cubed Capital and WMAS Management Group. www.rentpath.com

Riverstone Holdings LLC
 has agreed to sell R/C Sugarkane LLC, a Houston, Texas-based oil and gas exploration company focused on the Eagle Ford Shale, to Warwick Energy Group. No financial terms were disclosed. www.riverstonellc.com

Tricor Pacific Capital
 has hired William Blair & Co. to weigh strategic options for CPI Card Group Inc., a Littleton, Colo.-based maker and distributor of plastic financial cards for such brands as Visa and MasterCard, according to the WSJ. Both an IPO and a sale are reported to be possibilities.www.cpicardgroup.com

Vistaprint (Nasdaq: VPRT) has agreed to acquire Italian printing services company Pixartprinting Srlfor approximately €127 million. Sellers include private equity firm Alcedo SGR. www.pixartprinting.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

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
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
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

© 2026 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.


Most Popular

placeholder alt text
Economy
Elon Musk warns the U.S. is '1,000% going to go bankrupt' unless AI and robotics save the economy from crushing debt
By Jason MaFebruary 7, 2026
1 day ago
placeholder alt text
Success
Gen Z Patriots quarterback Drake Maye still drives a 2015 pickup truck even after it broke down on the highway—despite his $37 million contract
By Sasha RogelbergFebruary 7, 2026
2 days ago
placeholder alt text
Success
Even with $850 billion to his name, Elon Musk admits ‘money can’t buy happiness.’ But billionaire Mark Cuban says it’s not so simple
By Preston ForeFebruary 6, 2026
2 days ago
placeholder alt text
Future of Work
Anthropic cofounder says studying the humanities will be 'more important than ever' and reveals what the AI company looks for when hiring
By Jason MaFebruary 7, 2026
1 day ago
placeholder alt text
Commentary
America marks its 250th birthday with a fading dream—the first time that younger generations will make less than their parents
By Mark Robert Rank and The ConversationFebruary 8, 2026
15 hours ago
placeholder alt text
Economy
Russian officials are warning Putin that a financial crisis could arrive this summer, report says, while his war on Ukraine becomes too big to fail
By Jason MaFebruary 8, 2026
6 hours ago

Latest in

EconomyBonds
Dow futures rise after index tops 50,000 for the first time while landslide election in Japan sends U.S. bond yields higher
By Jason MaFebruary 8, 2026
2 hours ago
CommentaryHealth
Patient private capital is needed to help Asia plug its healthcare gaps
By Abrar MirFebruary 8, 2026
3 hours ago
Arts & EntertainmentAdvertising
Super Bowl ads go for silliness, tears and nostalgia as Americans reel from ‘collective trauma’ of recent upheaval — ‘Everybody is stressed out’
By Dee-Ann Durbin, Mae Anderson, Wyatte Grantham-Philips and The Associated PressFebruary 8, 2026
4 hours ago
PoliticsOlympics
Trump calls U.S. Olympian a ‘real Loser’ as athletes speak out against administration policies, while Jake Paul tells critics to ‘live somewhere else’
By Fernanda Figueroa and The Associated PressFebruary 8, 2026
4 hours ago
HealthVaccines
Dr. Oz begs Americans to get inoculated against measles as outbreaks spiral around the country. ‘Take the vaccine, please’
By Matt Brown and The Associated PressFebruary 8, 2026
4 hours ago
EconomyUkraine invasion
Russian officials are warning Putin that a financial crisis could arrive this summer, report says, while his war on Ukraine becomes too big to fail
By Jason MaFebruary 8, 2026
6 hours ago