Deals of the day: Exelon buying Pepco for $6.8 billion


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Venture Capital Deals

Apigee, a San Jose, Calif.-based API management company, has raised $60 million in new VC funding. Pine River Capital Management and Wellington Management Co. co-led the round, and were joined by return backers Norwest Venture Partners, Bay Partners, Third Point LLC, SAP Ventures, with funds managed by BlackRock, Focus Ventures and Accenture.

Otonomy Inc., a San Diego-based developer of therapeutics for diseases and disorders of the inner and middle ear, has raised $49 million in Series D funding. Jennison Associates, Perceptive Advisors, Federated Kaufmann Funds, Clough Capital Partners and Ally Bridge Group were joined by return backers OrbiMed Advisors, Novo Ventures, TPG Biotech, Avalon Ventures, Domain Associates, RiverVest Venture Partners, Aperture Venture Partners and Osage University

Blue Apron, a New York-based meal kit subscription service, has raised $50 million in new VC funding.Stripes Group led the round, and was joined by return backers Bessemer Venture Partners and First Round Capital. Read more at Fortune.

Sprinklr, a New York-based social relationship platform, has raised $40 million in Series D funding.Iconiq Capital was joined by return backers Intel Capital and Battery Ventures.

, a Redwood City, Calif.-based provider of cloud-based business planning and enterprise analytics solutions, has raised $32 million in new private funding. Silicon Valley Bank led the deal, and was joined by return backers Greylock Partners, Andreessen Horowitz, Redpoint Ventures and Tenaya Capital.

, a Baltimore-based social cyber security intelligence startup, has raised $10.25 million in Series A funding. New Enterprise Associates led the round, and was joined by Genacast Ventures, Core Capital and individual angels.

, a Santa Clara, Calif.-based startup that virtualizes WANs and securely connects users and hybrid applications, has raised $9 million in first-round funding from Charles River Ventures and the Mayfield

Aviso Inc. (f.k.a. Gnana), a Mountain View, Calif.-based startup focused on helping companies make more accurate financial projections, has raised $8 million in Series A funding. Shasta Ventures led the round, and was joined by Cowboy Ventures, Bloomberg Beta and First Round Capital. Read more at Fortune.

Ecologic Brands
, an Oakland-based maker of recycled paper bottles, has raised $7 million in VC funding. Kruger Inc. led the round, and was joined by seed backers Angel investors, DBL Investors, Catamount Ventures, and Black Bear Partners.

SOLS Systems, a New York-based maker of 3D printed orthoses, has raised $6.4 million in Series A funding. Existing shareholder Lux Capital led the round, and was joined by new investor Founders Fund. Other returning seed backers included RRE Ventures and Rothenberg Ventures. Read more at Fortune.

Vortstack, a Los Altos, Calif.-based provider of an enterprise automation and collaboration platform for cyber-security, has raised $5.2 million in new VC funding. TechOperators led the round, and was joined by EMC Ventures and return backer Aligned Partners.

Scientific Revenue, a San Mateo, Calif.-based provider of revenue solutions for game developers and publishers, has raised $2.5 million in first-round funding led by Walden Venture

MovieLaLa, a San Francisco-based social network and marketing platform for upcoming films, has raised an undisclosed amount of new seed funding from Marc Benioff. Overall, the company has raised $750,000.

Bouju, a Los Angeles-based provider of enterprise brand protection software, has raised an undisclosed amount of new VC funding led by Amidi

Private Equity Deals

The Gores Group has completed its acquisition of a 51% stake in Hovis, the bread business ofPremier Foods PLC (LSE: PFD). Gores will pay £30 million, of which £15m is deferred and contingent on future business performance. In addition, Gores and Premier (49% owner) jave agreed to invest up to another £45 million into the business.

Integrity Nutraceuticals
, a portfolio company of H.I.G. Capital, has acquired CornerStone Research & Development Inc., an Ogden, Utah-based contract manufacturer of vitamins and dietary supplements, from Sun Capital Partners. No financial terms were disclosed. Sun had acquired the company two years ago from Mitsui & Co.

Snow Phipps Group has acquired FeraDyne Outdoors LLC, a Cartersville, Ga.-based maker of broad-heads, bow-hunting accessories and bow-fishing equipment. No financial terms were


GlobeImmune, a Louisville, Colo.-based developer of therapeutic products for cancer and infectious diseases, has set its IPO terms to 2.19 million shares being offered at between $15 and $17 per share. It would have an initial market cap of approximately $92 million, were it to price in the middle of its range. The company plans to trade on the Nasdaq under ticker symbol GBIM, with Aegies Capital serving as underwriter. Shareholders include Celgene International), HealthCare Ventures, Morgenthaler Ventures, Wexford Capital, Sequel Ventures, Lilly Ventures and Medica Venture

Scynexis Inc., a Durham, N.C.-based developer of therapeutics for fungal infections, has again amended its IPO terms – this time saying that it will sell 6.2 million shares at $10 per share. It originally planned to offer 4.23 million shares at $12-$14, before changing that to 7.33 million shares being offered at $7-$8. The company still 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%).


Exelon Corp. (NYSE: EXC) has agreed to acquire Washington, D.C.-based utility Pepco Holdings Inc. (NYSE: POM) for $6.8 billion in cash, or $27.25 per share (24.7% premium to last Friday’s closing price). 

The ADT Corp. (NYSE: ADT) has agreed to acquire Reliance Protectron Inc., a provider of monitored security services in Canada, from Alinda Capital Partners for approximately C$555 million in cash.

Columbia Sportswear
 (Nasdaq: COLM) has acquired Carlsbad, Calif.-based yoga pants maker Prana Living from Steelpoint Capital Partners for $190 million.

EQT Partners has agreed to sell its 95% stake in Gala Television Corp., a Taiwanese cable television network, to Formosa Plastics Group (Taiwan: 1301). No financial terms were

Lightyear Capital has completed its previously-announced sale of Cetera Financial Group, an El Segundo, Calif.–based broker-dealer and investment adviser, to RCS Capital Corp. (NYSE: RCAP). The deal was valued at $1.15 billion in cash.

Numerex Corp.
 (Nasdaq: NMRX) has agreed to acquire Omnilink Systems Inc., an Alpharetta, Ga.–based provider of M2M solutions for tracking and monitoring solutions. The deal is valued at $37.5 million in cash, and is expected to close within the next month. Sellers include Canal Partners, Grotech Ventures, Imlay Investments and Partners for Growth.

Red Hat Inc. (NYSE: RHT) has agreed to acquire Inktank, a Los Angeles–based provider of open-source storage systems, for approximately $175 million in cash. Sellers include Intel

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