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

Trendingnow

1

Trump, who has repeatedly called climate change fake, is now threatening Brazil with tariffs over the deforestation of the Amazon

2

Pentagon accuses Alibaba, Baidu and BYD, three of China's biggest companies, of supporting the Chinese military

3

Current price of oil as of June 8, 2026

1

Trump, who has repeatedly called climate change fake, is now threatening Brazil with tariffs over the deforestation of the Amazon

2

Pentagon accuses Alibaba, Baidu and BYD, three of China's biggest companies, of supporting the Chinese military

3

Current price of oil as of June 8, 2026
FinanceTerm Sheet

Term Sheet — Tuesday, March 31

By
Dan Primack
Dan Primack
Down Arrow Button Icon
By
Dan Primack
Dan Primack
Down Arrow Button Icon
March 31, 2015, 9:40 AM ET

Abdicated Responsibility

No column this morning (but tons of news), as I spent all of yesterday at Fortune HQ in New York for various meetings (yes, it was just as scintillating as it sounds). Apologies.

In the meantime, however, we're about to begin sending Term Sheet via a new system with the goal of improving delivery times. Please take a quick moment to add dan_primack@newsletters.fortune.com to your email address book (particularly Gmail users, so that Term Sheet doesn't end up in one of those unloved tabs). Much thanks, and back to our regularly-scheduled ramblings tomorrow...

THE BIG DEAL

• Charter Communications Inc. (Nasdaq: CHTR) has agreed to acquire Bright House Networks, an East Syracuse, N.Y.-based cable operator, for approximately $10.4 billion in cash and stock ($2b/$8.4b) from Advance Publications. Read more.

VENTURE CAPITAL DEALS

• Tanium, a San Francisco-based systems and security management company, has raised $52 million in new VC funding from Andreessen Horowitz. This follows up a $90 million investment in the company from Andreessen Horowitz last summer – the company’s first round of VC funding since being launched in 2007 – at a reported valuation of $900 million. Read more.

• Sprinklr, a New York-based marketing startup, has raised $46 million in Series E funding from existing investors Intel Capital, Battery Ventures and Iconiq Capital. The round, which brings Sprinklr’s total funding to $123.5 million, values the 700-person company at $1.17 billion. Read more.

• Thrasos Therapeutics, a Montreal-based biotech startup focused on kidney disease, has raised C$21 million in Series D funding. BDC Capital and SR One co-led the round, and were joined by return backers Advanced Technology Ventures, Fonds de solidarité FTQ, Lumira Capital, MP Healthcare Venture Management, Pappas Ventures and SW Co. www.thrasos.com

• Augure, a French provider of influence engagement software, has raised $16 million in new funding. Seventure Partners and Bpifrance were joined by return backers Serena Capital, Ventech,OTC Agregator, and Amundi. www.augure.com

• GlassesUSA, an online retailer specializing in prescription eyewear, has raised $12.5 million in new funding led by Viola Private Equity. www.glassesusa.com

• Advanced Practice Strategies Inc., a Boston-based e-learning and talent management platform for clinicians, has raised $12 million in Series C funding. River Cities Capital Funds led the round, and was joined by return backer Ascension Ventures. www.aps-web.com

• SmartNews, a Japanese social news aggregation app, has raised $10 million in new VC funding at a $330 million post-money valuation. GREE led the round, and was joined by return backer Atomico, Globis Capital Partners, Mixi and Social Venture Partners. Read more.

• DroneDeploy, a San Francisco-based provider of cloud software for commercial drone operations, has raised $9 million in Series A funding. Emergence Capital led the round, and was joined by return backers SoftTech, DataCollective and Angelpad. www.dronedeploy.com

• ProsperWorks, a San Francisco-based provider of CRM solutions that are built in or around Google Apps, has raised $7.5 million in Series A funding. True Ventures led the round, and was joined by return backers like Bloomberg Beta and Crunchfund. www.prosperworks.com

• Ready Pulse, a San Carlos, Calif.-based provider of social marketing software, has raised $5 million in Series A funding from Walden Venture Capital and Rally Ventures. www.readypulse.com

• GoFormz, a San Diego-based mobile-first productivity solution, has raised $3 million in Series A funding from Cloud Apps Capital Partners and Floodgate. www.goformz.com

• SenionLab AB, a Swedish provider of indoor positioning systems, has raised $1.8 million in new VC funding from SEB Venture Capital. www.senionlab.com

• Alcidion Corp., an Australian health informatics startup, has raised $1.5 million from Blue Sky Private Equity, Allure Capital and company co-founders Ray Blight and Malcolm Pradhan. www.alcidion.com.au

• KeepTrax Inc., a Dallas-based "Internet of Me" mobile tech startup, has raised $1 million in seed funding led by Naya Ventures. www.keeptraxinc.com

PRIVATE EQUITY DEALS

• Ice Mobility, a Los Angeles–based distributor of wireless products, has raised $65 million in new financing co-led by Wells Fargo Capital Finance and Hawthorn Equity Partners. www.icemobility.com

• Irving Place Capital has acquired Bendon Inc., an Ashland, Ohio–based provider of children’s coloring and activity products, from The Wicks Group for an undisclosed amount. www.bendonpub.com

• Lone Wolf Real Estate Technologies Inc., an Ontario–based provider of residential real estate software and services, has raised an undisclosed amount of private equity funding from Vista Equity Partners. www.lwolf.com

• Marlin Equity Partners has acquired eMDs Inc., an Austin, Texas–based provider of electronic medical record and practice management software and services to ambulatory care organizations. No financial terms were disclosed. www.e-mds.com

• NewSpring Capital has invested an undisclosed amount in USPack Logistics, a New York-based provider of same-day and next-day delivery services. www.gouspack.com

• Stone Point Capital has acquired Black Mountain Systems, a San Diego–based provider of data and process management software for asset managers and financial institutions. No financial terms were disclosed. www.blackmountainsystems.com

• TowerBrook Capital Partners has agreed to acquire fashion retailer J.Jill from Arcapita and Golden Gate Capital. No financial terms were disclosed. www.jjill.com

• Vector Capital has completed its $9 per share takeover of Saba, a Redwood Shores, Calif.–based provider of cloud-based talent management solutions. The deal gave Saba an enterprise value of approximately $400 million. www.saba.com

• YapStone, a Walnut Creek, Calif.-based provider of web and mobile payment solutions, has secured $60 million in financing from Bregal Sagemount and Comerica Bank. www.yapstone.com

IPOs

• CoLucid Pharmaceuticals Inc., a Durham, N.C.-based developer of oral and intravenous treatments for migraine and other headache pain, has filed for an $86.25 million IPO. It plans to trade on the Nasdaq under ticker symbol CLCD, with Piper Jaffray and Stifel serving as co-lead underwriters. The pre-revenue company has raised around $56 million in VC funding from firms like TVM Capital Life Science, Novo Ventures, Auriga Partners, Pappas Ventures, Domain Associates, Care Capital, Triathlon Medical Ventures and Pearl Street Ventures. www.colucid.com

• Tankships Investment Holdings Inc., a Marshall Islands-based provider of seaborne transportation of crude oil petroleum, has withdrawn registration for a $100 million IPO, due to “market conditions.” It had planned to trade on Nasdaq under ticker symbol TNKS, with DNB Markets serving as sole underwriter. The company is a subsidiary of DryShips (Nasdaq: DRYS). www.dryships.com

• TransUnion, a Chicago-based credit bureau, has filed for a $100 million IPO. Goldman Sachs is listed as left-lead underwriter (eight other banks also are listed). The company reports a $4.4 million net loss on $1.3 billion in revenue for 2014, compared to a $28.2 million net loss on $1.18 billion in revenue for 2013. Shareholders include Advent International (48.9% pre-IPO stake) and Goldman Sachs (48.9%). Read more.

EXITS

• Charterhouse Capital Partners has fully exited its investment in British gifts retailer Card Factory PLC (LSE: CARD), via the sale of its remaining 60.6 million shares to institutional investors. www.cardfactoryinvestors.com

• Fortune Brands Home & Security (NYSE: FBHS) has agreed to acquire Norcraft Cos. (NYSE: NCFT), an Eagan, Minn.-based maker of kitchen and bathroom cabinetry, for approximately $600 million. Current Norcraft shareholders include Apax Partners (32.5%) and Trimaran Capital Partners (10%). www.norcraftcompanies.com

• GTCR has agreed to sell Fundtech, an Israel–based provider of global payments and transaction banking software, to DH Corp. (TSX: DH) for approximately $1.25 billion. www.fundtech.com

OTHER DEALS

• The Blackstone Group has agreed to acquire three large hotels – the Ritz Carlton and J.W. Marriott in Orlando and the J.W. Marriott is Scottsdale, Ariz. – for more than $1.2 billion from Paulson & Co., according to the WSJ. Read more.

• Cablevision Systems Corp. (NYSE: CVC) is prepping a $1 offer to buy the NY Daily News, according to Reuters. Read more.

• Endurance Specialty Holdings (NYSE: ENH) has agreed to acquire reinsurer Montpelier Re Holdings Ltd. (NYSE: MRH) for approximately $1.83 billion in cash and stock. Read more.

• Philips NV has agreed to sell an 80.1% stake in its lighting components unit for $2.8 billion to an investor consortium led by Go Scale Capital. Read more.

• Snapdeal, an Indian ecommerce company, has acquired a majority stake in RupeePower, an Indian provider of credit cards and loans. No financial terms were disclosed. Read more.

• Vail Resorts Inc. (NYSE: MTN) has agreed to acquire Australia’s Perisher Ski Resort for approximately US$136 million. www.vailresorts.com

• Volkswagen AG said that it is in talks to sell European automobile fleet manager LeasePlan, which is jointly owned by Volkwagon and banker Friedrich von Metzler. Read more.

FIRMS & FUNDS

• The Blackstone Group has closed its latest real estate investment fund with $14.5 billion in capital commitments, according to the WSJ. Read more.

MOVING IN, UP, ON & OUT

• Rory Cullinan is leaving Royal Bank of Scotland, less than two months after he was named head of its corporate and institutional bank. Read more.

• Paul Fossati has joined Sycamore Partners as a managing director and director of capital markets. He previously was with Morgan Stanley as a managing director in the firm’s leveraged and acquisition finance group. www.sycamorepartners.com

• Erwin Mock has joined Thoma Bravo as director of capital markets. He previously was a managing director with UBS Investment Bank. www.thomabravo.com

Share today's Term Sheet:
http://fortune.com/2015/03/31/term-sheet-tuesday-march-31

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

Latest in Finance

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
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • 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
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Finance

Sam Bankman-Fried formally files for pardon—but White House reiterates that FTX cofounder’s odds are slim
CryptoSam Bankman-Fried
Sam Bankman-Fried formally files for pardon—but White House reiterates that FTX cofounder’s odds are slim
By Camila Grigera NaonJune 9, 2026
2 hours ago
A trader works on the floor of the New York Stock Exchange (NYSE) in New York, US, on Wednesday, June 3, 2026
InvestingWall Street
Wall Street dumped nearly $1 trillion in tech stocks by midday—then clawed it back and bought peanut butter and paint
By Eva RoytburgJune 9, 2026
2 hours ago
America’s grid is reeling. General Motors offers itself as a distributed utility in disguise
EnergyAutos
America’s grid is reeling. General Motors offers itself as a distributed utility in disguise
By Nick LichtenbergJune 9, 2026
3 hours ago
Tesla cofounder: ‘We should be really worried’ about the U.S. grid as China speeds ahead in the power race
EnergyBrainstorm Tech
Tesla cofounder: ‘We should be really worried’ about the U.S. grid as China speeds ahead in the power race
By Jordan BlumJune 9, 2026
3 hours ago
President Donald Trump signing an executive order introducing a $100,000 fee for H-1B visas.
LawImmigration
Trump’s $100,000 visa fee is dead in one court and alive in another, setting up Supreme Court brawl
By Michael Casey and The Associated PressJune 9, 2026
4 hours ago
U.S. President Donald Trump on Liberation Day.
EconomyChina
China’s exports to the US are surging at a pre-Liberation Day pace, defying Trump’s tariff goals
By Chan Ho-Him and The Associated PressJune 9, 2026
4 hours ago

Most Popular

Trump, who has repeatedly called climate change fake, is now threatening Brazil with tariffs over the deforestation of the Amazon
Environment
Trump, who has repeatedly called climate change fake, is now threatening Brazil with tariffs over the deforestation of the Amazon
By Sasha RogelbergJune 8, 2026
1 day ago
Pentagon accuses Alibaba, Baidu and BYD, three of China's biggest companies, of supporting the Chinese military
Asia
Pentagon accuses Alibaba, Baidu and BYD, three of China's biggest companies, of supporting the Chinese military
By Kate O'Keeffe and BloombergJune 8, 2026
1 day ago
Current price of oil as of June 8, 2026
Personal Finance
Current price of oil as of June 8, 2026
By Joseph HostetlerJune 8, 2026
1 day ago
'We are rapidly running out of time': Watchdog sounds Social Security alarm after 22% cut confirmed for 2032
Economy
'We are rapidly running out of time': Watchdog sounds Social Security alarm after 22% cut confirmed for 2032
By Nick LichtenbergJune 9, 2026
7 hours ago
Gen Zers are arriving at college unable to even read a sentence—professors warn it could lead to a generation of anxious and lonely graduates
Success
Gen Zers are arriving at college unable to even read a sentence—professors warn it could lead to a generation of anxious and lonely graduates
By Preston ForeJune 7, 2026
2 days ago
Costco CEO Ron Vachris rose from forklift driver to the C-suite without a college degree: ‘Don’t chase a title’ is the career advice that got him there
Success
Costco CEO Ron Vachris rose from forklift driver to the C-suite without a college degree: ‘Don’t chase a title’ is the career advice that got him there
By Preston ForeJune 8, 2026
1 day ago

© 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.