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M&A and IPOs

By
Dan Primack
Dan Primack
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By
Dan Primack
Dan Primack
Down Arrow Button Icon
November 14, 2013, 3:27 PM ET

IBM (NYSE: IBM) has agreed to acquire Fiberlink Communications, a Blue Bell, Penn.–based mobile management and security company. No financial terms were disclosed. Sellers include Edison Ventures, NewSpring Capital and Technology Crossover Ventures. Www.ibm.com

Goldman Sachs has sold its remaining 17.49 million shares in MRC Global Inc. (NYSE: MRC), a distributor of pipes, valves and fittings to the energy industry. Goldman Sachs acquired MRC via a buyout in 2007, and brought it public last year. Www.mrcglobal.com

uadMed LLC, a subsidiary of Quad/Graphics Inc. (NYSE: QUAD), has acquired Novia CareClinics, an Indianapolis-based provider of employer sponsored on-site health and wellness clinics. No financial terms were disclosed. Dresner Partners managed the process. Www.noviacareclinics.com

Houghton Mifflin Harcourt, a Boston-based educational publisher, raised around $220 million in its IPO. The company priced 18.3 million shares at $12 per share (below $14-$16 range). It will trade under ticker symbol HMHC, while Goldman Sachs and Morgan Stanley served as lead underwriters. The company reports a $152 million net loss on $530 million in revenue for the first half of 2013, compared to a $120 million net loss on $509 million in revenue for the year-earlier period. Shareholders include Paulson & Co. (26% pre-IPO stake), Anchorage Advisors (11.2%), Avenue Capital (8.7%), Blackrock (7.5%), Q Investments (7.4%) and Oak Hill Advisors (5.7%). Www.hmhco.com

Relypsa Inc.
, a Redwood City, Calif.-based developer of non-absorbed polymeric drugs, has lowered its expected IPO pricing terms from $16-$19 per share to $12 per share. It still plans to offer 6.85 million shares, and trade on the Nasdaq under ticker symbol RLYP. Morgan Stanley and BoA Merrill Lynch are serving as lead underwriters. Relypsa has raised over $180 million in VC funding from OrbiMed Advisors (43.3% pre-IPO stake), 5AM Ventures (22.3%), Delphi Ventures (11.8%), New Leaf Ventures (10.4%), Sprout Capital (9.7%) and Sibling Capital (5.3%). Www.relypsa.com

Tandem Diabetes Care, a San Diego-based maker of medical devices for treating diabetes, raised $120 million in its IPO. The company priced 8 million shares at $15 per share, compared to plans to offer 7.14 million shares at $15 per share. It will trade on the Nasdaq under ticker symbol TNDM, while BoA Merrill Lynch and Piper Jaffray served as lead underwriters. It has raised around $88 million in VC funding from firms like Delphi Ventures (26.91% pre-IPO stake), Domain Associates (26.22%), TPG Biotechnology Partners (20.30%), HLM Venture Partners (11.43%) and Kearny Venture Partners (6.4%). Www.tandemdiabetes.com

Zulily, a Seattle-based ecommerce company focused on clothing and products for babies and children, has increased its IPO price range from $16-$18 per share to $18-$20 per share. It still plans to offer 11.5 million shares, and trade on the Nasdaq under ticker symbol ZU. Goldman Sachs, BoA Merrill Lynch and Citigroup are serving as lead underwriters. It reports $2.4 million in net income on $272 million in revenue for the first half of 2013, compared to a $6 million net loss on $127 million in revenue for the year-earlier period. Zulily has raised nearly $140 million in VC funding from Maveron (23.6% pre-IPO stake), August Capital (7.5%) and Andreessen Horowitz (7.3%). Www.zulily.com

Sign up for Dan’s daily email newsletter on deals and deal-makers: GetTermSheet.com

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