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Proteus Digital Health inks $120 mln, also appoints new CFO

Proteus Digital Health has received $120 million in funding from unnamed investors. In addition to the funding, the firm has named Steve Fieler as CFO and added Jonathan Symonds to its board of directors. Fielder is a former CFO at Hewlett-Packard while Symonds is the chairman of HSBC Bank Plc and the former CFO of Novartis AG. Headquartered in Redwood City, Calif., Proteus Digital Health is a digital medicine firm.

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peHUB First Read

To take you into this Memorial Day weekend, First Read has news that dry powder is 23% higher than forecast, DARPA is using the Oculus Rift to train cyber-soldiers, insight into KKR Capstone and America’s new subprime problem: auto loans.

HP Could Sell webOS Unit

(Reuters) – Hewlett-Packard Co is looking to sell Palm’s webOS mobile software platform, a deal that could fetch hundreds of millions of dollars but less than the $1.2 billion that HP paid last year, four sources close to the matter said. Advised by Bank of America Merrill Lynch, HP is trying to figure out how […]

H-P Scales Back Investment Activity Amid Quarter-end Shakeup

Listed, Calif.-based Hewlett-Packard has scaled back or eliminated several parts of its corporate venture capital investment structure, said multiple sources who spoke with peHUB. Further, our sources said, the company is likely to make an announcement within the next two weeks regarding potential M&A plans and other organizational shifts for H-P as the company tries […]

Analysis: Google/Motorola Could Be Peak of Patent Price Spike

(Reuters) – The bubble in mobile phone technology patent values may just have popped.

Now that Google Inc. has agreed to a $12.5 billion deal to buy Motorola Mobility Holdings Inc. — scooping up a trove of 17,000 phone-related patents to give itself some ground to defend its Android operating system — the most motivated buyer looks to be off the market.

“The game is completely changed as a result of Google’s acquisition of Motorola Mobility. The arms race is essentially over,” said John Amster, chief executive of RPX, a company that advises customers on patent purchases. “They have basically created through acquisition what they needed.”

Google’s move was widely seen as a response to its loss in the auction of 6,000 Nortel patents to a group led by Microsoft Corp., Apple Inc. and Research in Motion, which fetched an unprecedented …

HP Appoints Five New Board Members, Including AXA Private Equity’s Senequier

Hewlett Packard Co. of Palo, Alto, Calif., named five new board members. The new directors include Booz & Co. CEO Shumeet Banerji, General Atlantic LLC’s Special Advisor Gary Reiner and Alcatel-Lucent’s former CEO Patricia Russo. AXA Private Equity’s CEO Dominique Senequier and eBay Inc.’s former president and CEO Meg Whitman were also appointed as board members. All five new directors will stand for re-election at the next annual meeting in March. The additions raised the director count to 17. The size will be reduced to 13 members after the shareholder meeting.

Kevin Fong Talks Poker and the Twists and Turns of 3PAR Deal

Kevin Fong, the former chairman of data storage company 3PAR Inc., likes to talk about poker, often uses poker analogies and says he studies the card game. He even has a home in Las Vegas. But you won’t find him spending time in casinos, playing Texas Hold ‘em and flipping chips. He says he doesn’t […]

M&A Disrupts Summers for PE Execs and Bankers

It’s the Friday before the Labor Day weekend and I’m amazed at how many PE execs are answering their phones.

One buyout exec, who hasn’t answered my calls or messages for nearly a month, finally phoned. The exec said they were busy working on a deal that they hoped to finish by Labor Day. Another PE source called today to talk about a transaction that was finally closing (an exit!).

Bankers weren’t much different. One source said they took a vacation last week (to Jamaica) and was working this week. And another, who is also laboring on a deal, planned to stay in town and deal with Earl (which at this point has turned out to be a whole lot of nothing). “I’m weathering the hurricane here in New York,” the banker said.

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Cloud Companies Are Becoming Hot M&A Targets

Four acquisitions of virtual software and cloud-based companies this week have fueled speculation that there will be more to come. At the VMworld conference this week, the buzz has mostly been about the bidding war over 3Par, which Hewlett-Packard won today with its $2.4 billion offer. (As we previously reported, a few VC firms stand […]

Analysis: Dell expected to bow out of 3PAR bidding

(Reuters) – Dell Inc (DELL.O:) is widely expected to bow out of a bidding war with Hewlett-Packard Co (HPQ.N:) for data storage company 3PAR Inc (PAR.N:) because of the increased price tag.

A survey of eight technology investors and analysts by Reuters on Monday found most expect Dell to soon give up its pursuit of 3PAR, either ceding to HP’s last offer of $30 per share or giving up at a few dollars higher at most.

Dell has until Wednesday to match HP’s $2 billion offer for the company, which analysts say would help speed up its expansion from personal computers into more profitable enterprise technology services.

3Par Shows It REALLY Pays to Wait

It’s said that good things come to those who wait. Such will no doubt be the case for the three venture firms that are at least 5% shareholders in 3PAR Inc. The Mountain View, Calif.-based storage vendor is at the center of a bidding war between Hewlett-Packard and Dell. The latest offer of $30 a […]

PE Shops Looking at Hurd But Need More Info

Mark Hurd may need to dust off his resume.

Just a week after Hurd resigned as CEO of Hewlett-Packard, PE shops are putting out the welcome mat. “We would love to work with him,” said one buyout firm executive. “We hear [Hurd] is fantastic at operational excellence and accountability.”

However, the source admitted he had never personally met Hurd.

Another PE source says the Hurd resignation is a “bizarre story and more has to come out…there will be a lot of PE takers.”

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