U.S. telecommunications provider ShoreTel Inc rejected Canadian peer Mitel Networks Corp's higher bid, saying it "significantly undervalued" the company, Reuters reported. Mitel on Monday raised its offer to $8.50 per share in cash and stock, from $8.10 per share in cash. The revised offer valued ShoreTel at about $574 million.
Kili Technology Corp has bought DeviceFidelity Inc, a U.S. provider of plug-and-play near field communication and mobile security solutions. The value of the acquisition was not disclosed. Kili, a Toronto-based payment processing business, said the deal creates a complete portfolio of mobile payments, security and acceptance products. Established in 2013 as carve-out of SecureKey Technologies Inc, Kili is backed by Blue Sky Capital and Rouge River Capital. Founded in 2007, DeviceFidelity has been venture-backed since 2012. Its investors include Dallas Venture Partners and Datacard Group.
Shred-it International Inc, a portfolio company of Canadian private equity firm Birch Hill Equity Partners and other investors, has agreed to acquire the international shredding assets of Iron Mountain Inc (NYSE: IRM) in the United Kingdom, Ireland and Australia. The purchase price, disclosed by Iron Mountain, is about US$29.8 million. Additionally, Iron Mountain said it has agreed to acquire Securit Records Management Inc, a Shred-it affiliate, for about US$29 million. Both deals are expected to close in 2014. Earlier this year, Shred-it bought U.S.-based Cintas Corp‘s document destruction business. Birch Hill, which is currently launching its fifth fund, led the acquisition of Toronto-based Shred-it in 2009.
An affiliate of U.S. private equity firm Peak Rock Capital has invested in Highline Produce Ltd, a Canadian producer of mushrooms. The financial details of the transaction were not released. Based in Leamington, Ontario, Highline produces, packages, and distributes varieties of fresh white, mini bella, portobella, and exotic mushrooms for the retail and food service end markets. The company said the partnership with Peak Rock will increase its capabilities for achieving growth and allow it to pursue new product development.
Buyout group Lindsay Goldberg has put German packaging company Weener Plastik up for sale and could attract a price of around 400 million euros ($500 million), sources told Reuters.
Dutch electronics group Philips has attracted bids from several private equity groups for the majority of its lighting components business, up for sale as it focuses on higher-margin activities, sources told Reuters.
Full Spectrum Laser has secured $10 million from Summer Street Capital. Mooreland Partners provided financial advice to FLS on the transaction. Based in Las Vegas, FSL is a laser and 3D printing firm.
Vista Equity Partners has closed its buy of TransFirst. No financial terms were disclosed. Based in Hauppauge, NY, TransFirst is a provider of secure payment processing services.
Data Dimensions has received an undisclosed investment from HealthEdge Investment Partners. Headquartered in Janesville, Wisc., Data Dimensions is a provider of healthcare-related business process outsourcing and automation services for the insurance, financial services and government industries.
Private equity firms Bain Capital and Apax Partners have launched a bid worth 7.075 billion euros ($8.8 billion) to buy the Portuguese operating business of Portugal Telecom from Brazil's Oi (OIBR3.SA), rivalling an offer from European telecoms group Altice (ATCE.AS), Reuters reported.