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 additives/adhesives and fused quartz and ceramics materials. It is based in
Anthera Pharmaceuticals Inc., a San Francisco-based drug company focused on serious inflammatory diseases, has raised $36 million in Series B funding. VantagePoint Venture Partners and Sofinnova Ventures co-led the deal, and were joined by Pappas Ventures, Mitsubishi International and Series A-1 backers Sears Capital Management and SIM Equity. Eli Lilly and Co. and Shionogi & Co. also received equity as part of Anthera's obligations under the recently announced license agreement. www.anthera.com
Intuit Inc. (Nasdaq: INTU) has acquired StepUp Commerce Inc., a San Francisco-based provider of services that enable local businesses to convert online shoppers into in-store customers. The deal was valued at approximately $60 million in cash. StepUp had raised around $7 million in VC funding from firms like Allegis Capital, Granite Ventures and Pennsylvania Equity Partners. www.intuit.com www.stepup.com
Portico Systems (f.k.a. FMG Technologies), a Conshohocken, Pa.-based provider of software solutions for regional and national health plans, has raised $6 million in private funding from Safeguard Scientifics Inc. www.porticosys.com
Smart Analyst Inc., a New York-based provider of outsourced custom research and analytics, has raised $3.75 million in its first round of institutional financing (Series C). Participants included Edison Venture Fund and Milestone Venture Partners. www.smartanalyst.com
Mocana Corp., a San Francisco-based provider of infrastructure software solutions for wired and wireless devices, has raised over $3.5 million in Series A funding led by Shasta Ventures. www.mocana.com
Pintail Technologies Inc., a Plano, Texas-based provider of test management solutions for the semiconductor industry, has raised $3 million in Series C funding, according to a regulatory filing. Shareholders include Austin Ventures, Duchossois Technology Partners and Verigy. www.pintail.com
EastMed Inc., a Halifax, Nova Scotia-based medical device company focused on female control stress urinary incontinence, has raised Cnd$1.5 million in first-round funding from Innovacorp and BDC Venture Capital.
ClickCaster Inc., a Boulder, Colo.-based provider of turnkey podcasting solutions, has raised $500,000 in Series A funding. Individual backers include Brad Feld, Neil Robertson and Jerry Colonna.
H.I.G. Capital has agreed to acquire PetroCom LLC, a New Orleans-based cellular carrier in the
The Blackstone Group has become the odds-on favorite to win the