Deals of the Day
Glu Mobile Inc., a San Mateo, Calif.-based mobile game publisher, priced 7.3 million common shares for $11.50 per share ($10-$12 range), for an IPO take of approximately $84 million. The IPO gives Glu Mobile an initial market cap of around $327 million. It will trade on the Nasdaq under ticker symbol GLUU, while Goldman Sachs and Lehman Brothers served as co-lead underwriters. The company had raised around $57 million in VC funding since its 2001 inception as Sorrent, from firms like New Enterprise Associates, BA Venture Partners, Globespan Capital Partners, Granite Global Ventures and Sienna Ventures. http://www.glu.com/
Legend Silicon Corp., a fabless semiconductor company that manufactures the core IC for digital broadcasting and broadband transmission, has raised $40 million in Series D funding led by Intel Capital. Legend has offices in both Silicon Valley and China , with past funding from Intel, Motorola Ventures, SUNeVision Holdings, Tsinghua Tongfang Co. and Dragon Venture. http://www.legendsilicon.com/
ScanR Inc., a Palo Alto, Calif.-based company that enables camera phones and digital cameras to scan, copy and fax, has raised $8 million in Series B funding, according to a regulatory filing. Adobe Systems and JAIC American were joined by return backers Trinity Ventures and Thomvest International. http://www.scanr.com/
Azea Networks Ltd., a UK-based provider of optical networking solutions for submarines, has secured $6 million of a $15 million Series D round, according to a regulatory filing. TVM Capital and Lago Venture Fund were joined by return backers Accel Partners, Atlas Venture and Quester Management. http://www.azea.net/
Quantcast Corp., a San Francisco-based Internet ratings startup, has raised around $5.7 million in Series A funding, according to a regulatory filing. Backers include The Founders Fund and Revolution Capital. The company is run by former SearchSpace CEO Konrad Feldman. http://www.quantcast.com/
Teracent Inc., a Foster City, Calif.-based online advertising startup, has raised around $5 million in Series A funding led by New Enterprise Associates, according to a regulatory filing. http://www.teracent.com/
HipCricket, a Bellevue, Wash.-based mobile marketing firm, has raised $2 million in additional Series A funding. This brings the round total to $3 million, from Broadmark Capital and undisclosed angels. http://www.hipcricket.com/
Snowdon Inc., a New Brunswick, N.J.-based drug startup, has raised $500,000 from Foundation Venture Capital Group, a firm formed last year to support startups developing technology from the University of Medicine and Dentistry of New Jersey. http://www.snowdonpharma.com/
Kongregate, a San Francisco-based online gaming startup, has launched with an undisclosed amount of seed funding from angels like: Reid Hoffman, Joe Kraus, Jeff Clavier and Richard Wolpert. http://www.kongregate.com/
Bertelsmann is considering a bid for Thomson Corp. subsidiary Thomson Learning, according to The Financial Times. Such a deal could be valued at up to $5 billion. Bertelsmann might partially finance the deal via a €1 billion private equity platform in announced yesterday, in partnership with Citigroup Private Equity and Morgan Stanley Principal Investments. (Thomson Corp. is the parent company of PE Week Wire publisher Thomson Financial).
Guardian Media Group reportedly will receive three bids for Trader Media, which publishes auto classified magazine Auto Trader and related online products. The deal is expected to be worth between Gbp1 billion and Gbp1.5 billion, with suitors including The Blackstone Group, Apax Partners and Cinven. Candover initially expressed interest, but dropped out earlier this year.
Affiliated Computer Services Inc. (NYSE: ACS) has been hit with two shareholder lawsuits, related to its agreed-upon $6 billion buyout by Cerberus Capital Management and ACS founder and chairman Darwin Deason. The complaints argue that the company did not adequately search out the best possible price. http://www.acs-inc.com/
SouFun.com, a Chinese real estate website operator, is planning a $200 million IPO for later this year, according to a Dow Jones interview with company CEO Vincent Mo. The offering would be either in China or on the Nasdaq. Telstra Corp. of Australia holds a 51% ownership position in SouFun, while IDG Venture Capital holds a 14.7% stake. The remainder is held by Mo and company management.
