IP Unity Corp., a Milpitas, Calif.-based provider of carrier-grade media servers, has agreed to acquire Glenayre Messaging from Glenayre Technologies Inc. (Nasdaq: GEMS) for $25 million. IP Unity said that its investors are supporting the transaction, which is expected to close within 30 days. It has raised over $85 million in VC funding from firms […]
BASF has agreed to acquire Pemeas GmbH, a Frankfurt, Germany-based supplier of fuel cell components. No financial terms were disclosed. Pemeas was founded in April 2004 as a spin-off of the former Hoechst Group's fuel cell activities, and is backed by such firms as BankInvest, CDP Capital-Technology Ventures and Conduit Ventures. www.basf.com www.pemeas.com
EQT of Sweden has closed its second Greater China fund with $545 million in capital commitments. It will focus on mid-market buyout and control opportunities in, or connected to, China, Hong Kong and Taiwan. www.eqt.se
The California Public Employees’ Retirement System (CalPERS) has approved five new fund commitments: $500 million to First Reserve Fund XI, Cdn$150 million to Richardson Capital Private Equity 2; Cdn$110 million to Tricor Pacific Capital Partners IV; 19 billion yen to Carlyle Japan Partners II and $50 million to Acon-Bastion Partners II. www.calpers.com
Norwest Equity Partners plans to close its Los Angeles office at year's end, according to LBO Wire. The report says that three of the office's four professionals will move to Norwest's Minneapolis based, with partner Steven Burge opting to leave. www.nep.com
Chris Reilly has resigned as head of alternative investments for the Colorado Public Employees' Retirement Association, according to PE Insider. He will take a job with family office Kemnay Advisory Services. Colorado PERA already is searching for a replacement, with CIO Jennifer Paquette handling Reilly's responsibilities in the interim. www.copera.org
Christopher Davis has resigned from Safeguard Scientifics, where he had been executive vice president, chief administrative officer and chief financial officer. He is leaving “in order to pursue other interests.” Safeguard has retained Heidrick & Struggles to identify a replacement, and hired Stephen Zarrilli, co-founder of the Penn Valley Group, as acting CFO. www.safeguard.com
Daniel Dickinson, a managing partner of Thayer Capital Partners, has joined the board of Caterpillar Inc. (NYSE: CAT). www.cat.com
SpectraLinear Inc., a Santa Clara, Calif.
Isilon Systems Inc., a Seattle-based provider of clustered storage solutions, priced 8.35 million common shares at $13 per share, ($8.50-$9.50 forecast), for an IPO take of apperoximately $108.6 million. It will trade on the Nasdaq under ticker symbol ISLN, while Morgan Stanley and Merrill Lynch served as co-lead underwriters. The company had raised nearly $70 […]