Apollo Management has agreed to acquire GE Advanced Materials (Silicones & Quartz) from General Electric (NYSE: GE) for approximately $3.8 billion. GE will retain a 10% stake in the resulting company, and will hold $400 million in notes. The deal is expected to close by year-end. GE Advanced Materials supplies silicone-based products, silanes, sealants, urethane […]
Competitive Power Ventures Holdings, a Silver Springs, Md.
Cortina Systems Inc., a Sunnyvale, Calif.-based provider of analog and digital ICs, has raised $132 million in fourth-round funding. The deal will be used to help finance Cortina's $115 million acquisition of Intel Corp.'s optical network components business. Institutional Venture Partners co-led the financing, alongside return backers Canaan Partners and Morgenthaler Ventures. Other new buyers […]
Freescale Semiconductor Inc. (NYSE: FSL) is on the block for more than $16 billion, according to The New York Times. The report says that an initial bid came from a consortium that includes The Blackstone Group, Permira, Texas Pacific Group, Carlyle Group and Bain Capital. Then a second, higher, bid came from KKR and Silver […]
Saints Capital has bought 10 mid-market buyout investments from 3i Group. No financial terms were disclosed for the deal, except that Saints received backing from Lexington Partners and Drawbridge Special Opportunities Fund. www.saintsvc.com www.3i.com Ashmore Inv*stment Management has acquired global power plant and pipeline company Prisma Energy International for $2.9 billion. The seller was bankrupt […]
Thoma Cressey Equity Partners has agreed to acquire Embarcadero Technologies Inc. (Nasdaq: EMBT), a San Francisco-based provider of strategic data management solutions. The deal is valued at approximately $234 million, or $8.38 per share (29% premium to yesterday's closing price), and is expected to close by year-end. Morgan Stanley advised Embarcadero on the deal. www.thomacressey.com […]
Coles Myer Ltd., Australia's second-largest retailer, has rejected a Au$17 billion buyout offer led by KKR, saying that the Au$14.50 per share price was “far too cheap.” Other members of the buyout consortium included Bain Capital, Blackstone Group, Carlyle Group, CVC Capital Partners, Macquarie Bank, Merrill Lynch, Texas Pacific Group and Pacific Equity Partners. The […]
Flextronics International Ltd. (Nasdaq: FLEX) has completed the sale of its software development and solutions business to KKR (76%) and Sequoia Capital (9%). The deal values the unit at $900 million, with Flextronics retaining a 15% stake. www.flextronics.com NYFIX Inc. (Pink Sheets: NYFX), a New York-based provider of technology solutions to the financial market, has […]
SinglePoint (f.k.a. Wireless Service Corp.), a Bellevue, Wash.-based provider of mobile communication services, has raised $30.75 million in Series C funding. Ignition Partners led the deal, and was joined by Rally Capital Services and return backers Northwest Venture Associates, Madrona Venture Group, Intel Capital and SeaPoint Ventures.Part of the proceeds were used to acquire Mobile […]
TPG Newbridge has agreed to acquire a 24.99% stake in BankThai for approximately $186 million. www.newbridgecapital.com Rosedale Medical Inc., a Cupertino, Calif.-based developer of glucose monitoring system for diabetics, has raised $20 million in Series C funding, according to a regulatory filing. U.S. Venture Partners and Investor Growth Capital were joined by return backers Pequot […]