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FinanceTerm Sheet

Term Sheet — Wednesday, May 24

By
Dan Primack
Dan Primack
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By
Dan Primack
Dan Primack
Down Arrow Button Icon
May 25, 2016, 9:47 AM ET

Abdicated Responsibility

 

Today's column didn't quite come together in time, and there was a ton of deal news to blurb. In other words, apologies for this morning's lack of random ramblings. Be back and boisterous tomorrow...

THE BIG DEAL

• Hewlett Packard Enterprise (NYSE: HPE), which was created just months ago via the split of HP, has agreed to sell its enterprise services business ― valued at around $8.1 billion after tax ― to Computer Sciences Corp. (NYSE: CSC) in an all-stock transaction. Read more.

VENTURE CAPITAL DEALS

• Gett, an Israeli ride-hailing service, has secured a $300 million equity investment from Volkswagen. Read more.

• Eero, a San Francisco-based maker of home WiFi systems, has raised $50 million in new VC funding. Menlo Ventures led the round, and was joined by Index Ventures and return backers First Round Capital, Redpoint Ventures and Playground Global. The company also announced a retail agreement with Best Buy. Read more.

• Seismic, a Solana Beach, Calif.-based provider of enterprise sales enablement software, has raised $40 million in Series C funding. General Atlantic led the round, and was joined by JMI Equity and Jackson Square Ventures. Read more.

• TransferWise, a London-based money transfer company, has raised $26 million in new VC funding led by Baillie Gifford at a $1.1 billion valuation, according to TechCrunch. Read more.

• Dashlane, a New York-based online password and identity management company, has raised $22.5 million in Series C funding. TransUnion led the round, and was joined by return backers Bessemer Venture Partners, FirstMark Capital and Rho Ventures. www.dashlane.com

• AutoGrid Systems, a Palo Alto, Calif.-based provider of data analytics for utilities, has raised $20 million in new VC funding. Energy Impact Partners led the round, and was joined by Envision Ventures, Envision Energy and return backer E.ON. Read more.

• Stem Inc., a Millbrae, Calif.-based provider of “software-driven energy storage” solutions, has raised $15 million in new equity funding from Mithril Capital Management. www.stem.com

• Accelerate LearningTM, a Houston, Texas-based provider of digital resources for preK-12 STEM education, has raised $10 million in Series A funding from Owl Ventures. www.acceleratelearning.com

• Demisto, a bot-driven security platform, has raised $6 million in Series A funding led by Accel. Read more.

• EquipmentShare, a Columbia, Mo.-based online P2P marketplace for heavy construction equipment, has raised $5.5 million in Series A funding led by Romulus Capital. Read more.

• EyeQ, an Austin, Texas-based provider of shopper-aware and responsive in-store displays, has raised $3.5 million in Series A funding led by Align Capital. www.eyeqinsights.com

• SportsHero, a Singapore-based fantasy sports app and social prediction platform, has raised US$2.4 million in new VC funding led by Australia’s Nevada Iron Ltd. (ASX: NVI). www.sportshero.mobi

• Bloomz, a Seattle-based provider of a preK-8 community and messaging app, has raised $2.3 million in new VC funding. Backers include include 8VC, ff Venture Capital, Founder's Co-op, CorrelationVC, Wisemont Capital and Acequia Capital. www.bloomz.net

PRIVATE EQUITY DEALS

• Bluejack Energy Solutions LLC, a Frisco, Texas-based provider of waste stream management solutions to oil and gas producers, has secured up to $100 million in new equity commitments from Energy Spectrum Capital. www.bluejackenergy.com

• Bregal Sagemount has acquired Discovery Data Inc., an Eatontown, N.J.-based provider of wealth management sector data, from Ipreo LLC (a company controlled by Goldman Sachs Merchant Banking, with KKR as a minority shareholder). No financial terms were disclosed.
www.discoveryco.com

• ClickDimensions, an Atlanta-based provider of marketing automation and email marketing solutions, has raised an undisclosed amount of growth equity funding from Accel-KKR. www.clickdimensions.com

• CVC Capital Partners has held informal takeover talks with German generic pharma company Stada (DE: STAG), according to the WSJ. A deal could be valued at around $4.1 billion. Read more.

• Carson Group Holdings, an Omaha, Neb.-based provider of wealth management services to financial advisors and clients, has raised $35 million in minority equity funding led by Long Ridge Equity Partners. Company management also participated. www.carsonwealth.com

• Pharos Capital Group has made an investment in Beacon Specialized Living Services Inc., a for-profit provider of residential healthcare services in Michigan to individuals with intellectual and developmental disabilities, mental health and substance abuse disorders. No financial terms were disclosed. www.beaconserv.org

• TPG Capital is in talks to acquire Egyptian supermarket chain Spinneys from Abraaj Capital for approximately $100 million, according to Bloomberg. Read more.

IPOs

• Nant Health LLC, a Culver City, Calif.-based personalized healthcare company led by Patrick Soon-Shiong, has set its IPO terms to 6.5 million shares being offered at between $12.5o and $15.50 per share. It would have an initial market cap of around $1.65 billion, were it to price in the middle of its range. The company reports a $72 million net loss on $58 million in revenue for 2015. Shareholders include Allscripts Healthcare Solutions, Celgene Corp., BlackBerry Corp., Kuwait Investment Authority and Verizon Ventures. www.nanthealth.com

• Selecta Biosciences Inc., a Watertown, Mass.-based developer of targeted antigen-specific immune therapies, has filed for a $75 million IPO. It plans to trade on the Nasdaq under ticker symbol SELB, with UBS and Stifel serving as co-lead underwriters. The company has raised around $148 million in VC funding (most recent post-money value of $245m), from firms like Polaris Partners (14.3% pre-IPO stake), Flagship Ventures (13.5%), Rusano (10.9%), OrbiMed Advisors (9.3%), Leukon Investments  (7.7%), NanoDimension (5.3%), Sanofi-Genzyme BioVentures, Ridgeback Capital Management, Osage University Partners, AJU IB Investment, Sphera Global Health Care Fund, I2BF and Eminent Venture Capital. www.selectabio.com

EXITS

• Clessidra is in exclusive talks to sell Italian jeweler Buccellati to Cartier owner Richemont (Swiss: CFR), according to Reuters. Read more.

• Telstra Corp. (ASX: TLS) said that it planned sale of its $1.6 billion control stake in Chinese auto site Autohome (NYSE: ATHM) to Ping An Insurance Group is being challenged by minority shareholders. Telstra did not identify the shareholders, although Autohome minority backers include Sequoia Capital China and Boyu Capital. Read more.

• Warburg Pincus has agreed to sell the Association of Certified Anti-Money Laundering Specialists (ACAMS), an international membership organization focused on improving the knowledge and skills of anti-money laundering and financial crime prevention professionals, to Becker Professional Education for $330 million. BPE is a subsidiary of DeVry Education Group (NYSE: DV). www.acams.org

OTHER DEALS

• Anheuser-Busch InBev and SABMiller have received European Commission approval for their proposed mega-brewery merger. Read more.

• Monsanto (NYSE: MON) has rejected a $62 billion takeover offer from Germany's Bayer AG (DB: BAYN). Read more.

FIRMS & FUNDS

• Fenwick & West, a tech and life sciences law firm, announced plans to open an office in New York City. It will be led by a group of partners relocating from the West Coast, including Ken Myers (M&A) and Kristine Di Bacco (startups). www.fenwick.com

MOVING IN, ON & UP

• Jake Cabala has joined online investment marketplace CircleUp as head of institutional business. He previously was a managing director at placement agency Park Hill Group. www.circleup.com

• Chirag Chotalia has joined the venture investing team of Draper Fisher Jurvetson. He previously was a VP with Pritzker Group Venture Capital. www.dfj.com

• Christopher Laitala has stepped down as a New York-based managing director with HIG Capital, as first reported by Bloomberg. No word yet on his future plans. Laitala had joined the Miami-based private equity firm in 2002. Read more.

• Lisa Lambert has joined VC firm the Westly Group as managing partner. She previously was a managing director with Intel Capital. www.westlygroup.com

• Jordan Ormont has joined Menlo Ventures as a talent partner. He previously served in a similar role with Kleiner Perkins Caufield & Byers. www.menlovc.com

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By Dan Primack
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