Electronic Arts Inc. (Nasdaq: ERTS) has agreed to acquire gaming companies BioWare Corp. and Pandemic Studios from Elevation Partners, for up to $620 million in cash. EA also will issue up to $155 million in equity to certain BioWare and Pandemic employees. Elevation acquired BioWare and Pandemic in 2005 for “more than $300 million,” and […]
Intrex India, an Mumbai-based provider of a prepaid payment solution called Itz Cash, has raised $10 million in VC funding. Matrix Partners led the deal, and was joined by Intel Capital.
Navarro Discount Pharmacies LLC, a portfolio company of MBF Healthcare Partners, has agreed to acquire Sedano's Pharmacy & Discount Store Inc., a drug retail company with 11 pharmacies in the South Florida market. No financial terms were disclosed. www.navarro.com
PQ Corp., a specialty chemical company acquired in July by The Carlyle Group, has agreed to acquire INEOS Silicas, a division of INEOS. No financial terms were disclosed, except that the combined company would have annual sale revenue in excess of $1 billion. Carlyle Group will hold around a 60% stake in the company, while […]
Specialty Coating Systems Inc., a portfolio company of Bunker Hill Capital, has acquired the remaining interests it did not already own in Parylene Japan KK. No financial terms were disclosed. PJKK was originally formed as a joint venture between SCS and Three Bond Co. of Japan, in order to provide parylene coating services within Japan.
MHR Fund Management has closed its third fund with $3.5 billion, according to LBO Wire. The New York-based firm focuses on distressed opportunities in the middle-markets. Limited partners include Arcano Capital, CalPERS, the Montana Board of Investments and the New Jersey Division of Investment. Credit Suisse served as placement agent.
JPMorgan Chase said that it would make “modest staff reductions” in its structured credit and leveraged finance departments. No senior executives are expected to lose their jobs. www.jpmorgan.com
Jeff Porphy has joined Barclays Capital as a managing director of U.S. leveraged finance. He had spent the past 14 years with Credit Suisse, most recently as head of financial sponsors M&A and middle-market M&A. www.barcap.com
Alliant Insurance Services Inc., an insurance firm bought by The Blackstone Group in August, has acquired Clarity Benefit Consulting, an Atlanta-based provider of specialty consulting services in the areas of absence management and disability and life insurance. No financial terms were disclosed. www.alliantinsurance.com
Xcellerex Inc. has raised $31 million in Series C funding. VantagePoint Venture Partners led the deal, and was joined by return backers Kleiner Perkins Caufield and Byers and SCG Investments. The Marlborough, Mass.-based company has developed a manufacturing system and bioreactors for the production of biomolecules, including biotherapeutics and vaccines. It previously had raised around […]