PE Week Wire — 9/14/06

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 Wilton, Conn., and employs 5,000 people in 38 global locations. www.ge.com

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

 

    VC Deals

Vyatta Inc., a San Mateo, Calif.-based provider of open-source networking products, has raised $7.5 million in Series A funding. Participants included JPMorgan Partners (advised by Panorama Capital), ComVentures and ArrowParth Venture Partners. www.vyatta.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.

    Buyout Deals

H.I.G. Capital has agreed to acquire PetroCom LLC, a New Orleans-based cellular carrier in the Gulf of Mexico and a full-service telecom solutions provider for the offshore industry. No financial terms were disclosed. Following the acquisition, H.I.G. will merge PetroCom with Sola Communications, which it acquired earlier this year. www.higcapital.com www.petrocom.com

The Blackstone Group has become the odds-on favorite to win the