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There Has Been an Insane Number of Billion-Dollar Deals in the Past Few Days

November 25, 2019, 2:13 PM UTC

Even though we’re just days before Thanksgiving, things aren’t slowing down in the world of dealmaking. It was a busy weekend (and morning!) with a number of large fundraises and mergers & acquisitions. Here’s what you need to know:

FUNDRAISING:

A $1 billion fundraise: Paytm, an India-based payments company, raised $1 billion in Series G funding at a $16 billion valuation. T. Rowe Price led the round, and was joined by investors including Ant Financial, SoftBank Vision Fund, and Discovery Capital. 

The popularity of digital payments continue to fuel the growth of Paytm — and the competition. Google, Walmart’s PhonePe, and Facebook are moving in on Paytm’s territory, and the company could use the funds to fight back. According to a news release, Paytm plans to use the capital to sign up merchants across small cities and towns in India and expand to include a slew of financial services (lending, insurance, investments, and stockbroking) as well as content services (games, news, and videos).

A $140 million infusion in Latin America: Here’s yet another deal SoftBank is involved in. VTEX, a Brazil-based e-commerce platform, raised $140 million in venture funding. The company plans to use the money to expand into other markets. The capital comes from SoftBank’s Innovation Fund, the $5-billion fund dedicated to investing in startups in Latin America. Read more.

MERGERS & ACQUISITIONS:

A $26 billion competitor purchase: Charles Schwab agreed to buy smaller competitor TD Ameritrade for approximately $26 billion. The deal would create a brokerage behemoth with more than $5 trillion in assets under management and a combined annual revenue of about $25 billion. 

The deal comes one month after both firms said they would eliminate commissions for most online trades, a decision largely driven by market pressure from venture-backed rivals like Robinhood that popularized the no-commission business model. Read more.

LVMH makes a $16.2 billion proposal to Tiffany’s: LVMH agreed to buy luxury jeweler Tiffany & Co. for more than $16 billion, paying approximately $135 per share. This deal marks the largest luxury-goods deal ever, and values Tiffany 37% above the closing price. “Tiffany makes sense for LVMH because of the scarcity of acquisition targets with global scale and brand appeal in jewelry, the least-crowded category in the luxury sector,” wrote Rogerio Fujimori, an analyst at RBC Europe. Read more.

A nearly $10-billion biopharma deal: Novartis agreed to buy Medicines Co. (NASDAQ:MDCO) for $9.7 billion, paying about $85 per share. This is a 45% premium on the closing price on Nov. 18. Medicines Co. develops therapeutics for the treatment of therosclerotic cardiovascular disease.

Novartis has been on an acquisition spree in the last two years, snapping up several other drugmakers. In 2018, it bought drugmaker AveXis Inc. for $8.7 billion and biopharmaceutical company Endocyte Inc. for $2.1 billion. Read more.

A $4 billion purchase of a ticketing platform: eBay is in close talks to sell its ticketing platform StubHub to Viagogo Entertainment for $4 billion, according to The Wall Street Journal. eBay has owned StubHub for 12 years and originally bought the company for $310 million. StubHub reportedly accounted for 14% of eBay’s revenue in the third quarter. Read more.

A billion-dollar private equity deal: Private equity firm Silver Lake will acquire First Advantage, an Atlanta-based company focused on background check and drug screening solutions, from Symphony Technology Group. The deal values First Advantage at $1.5 billion, including debt.

Symphony Technology Group acquired First Advantage in 2010 from real estate data analytics company CoreLogic for $265 million. First Advantage is expected to generate $3.2 billion in revenue in 2019, according to Reuters. 

These were the big ones, but there’s even more below. 

Polina Marinova
Twitter: @polina_marinova
Email: polina.marinova@fortune.com 

VENTURE DEALS

- Juniper Square, a San Francisco and Austin-based real estate tech firm, raised $75 million in Series C funding. Redpoint Ventures led the round, and was joined by investors including Ribbit Capital, Felicis Ventures and Zigg Capital.

- Scribd, a San Francisco-based reading subscription service, raised $58 million in funding. Spectrum Equity led the round.

- Frame.io, a New York-based video review and collaboration platform, raised $50 million in Series C funding. Insight Partners led the round, and was joined by investors including Accel, FirstMark, SignalFire, and Shasta Ventures.

- Group14 Technologies, a Woodinville, Wash.-based provider of lithium-ion battery materials, raised $18 million in funding. Investors include Amperex Technologies Limited, Showa Denko, Cabot Corporation, BASF Venture Capital and OVP Venture Partners.

- TookiTaki, a Singapore-based developer of machine learning-based financial compliance software, raised $11.7 million in Series A funding. Viola Fintech and SIG Asia Investment co-led the round, and were joined by investors including Normura Holdings, Illuminate Financial, Jungle Ventures and SEEDs Capital.

- ColdQuanta Inc, a Boulder, Colo.-based quantum atomics company, raised $10 million in funding. Investors include Maverick Ventures and Global Frontier Investments.

- MontyCloud, a Seattle and India-based provider of an intelligent multicloud management platform, raised $2.85 million in seed funding. Madrona Venture Group led the round.

- Popmenu, an Atlanta-based provider of guest engagement software for restaurants, raised $4.5 million in Series A funding. Base10 PartnersRexhi Dollaku led the round, and was joined by investors including Felicis VenturesNiki Pezeshki.

- Cloudsnap, an Austin-based integration startup that connects web apps, raised $1.8 million in funding. Active Capital and Mercury Fund led the round.

HEALTH & LIFE SCIENCES DEALS

- Heartseed Inc, a Tokyo-based biotechnology company developing iPSC-derived cardiomyocytes for the treatment of heart failure, raised about $26 million in Series B funding. Investors include SBI Investment, JMDC, Gene Techno Science, Nissay Capital, SMBC Capital and Astellas Venture Management LLC.

PRIVATE EQUITY DEALS

- NextGen Growth Partners made an investment in Record Connect, a provider of release of information services for hospitals, clinics and physician offices across the Midwest. Financial terms weren't disclosed. 

- Sopris Capital invested in Analytical Wizards, a Somerville, N.J.-based healthcare analytics firm. Financial terms weren't disclosed. 

- Il Makiage, which is backed by L Catterton, acquired NeoWize, an Israel-based data science startup that develops advanced active machine learning algorithms. Financial terms weren't disclosed. 

EXITS

- Platinum Equity agreed to acquire Biscuit International, a France-based manufacturer of private label sweet biscuits, from Qualium Investissement. 

- Harvest Partners acquired Service Express, a Grand Rapids, Mich.-based provider of   post-warranty data center equipment maintenance services, from Pamlico Capital. Financial terms weren't disclosed. 

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