IPO
MultiVer, a Texas-based biotech company with a focus on oncology, has withdrawn its IPO registration. The company was to offer 4.6 million shares priced at between $12 and $14 per share but provided no explanation for the withdrawal.
Seres Therapeutics, a microbiome therapeutics platform, has filed for a $100 million IPO. The company’s shareholders include Flagship Ventures, Nestle Health Science, Fidelity and Enso Ventures. Seres will trade under the ticker symbol MCRB.
Home security system company Alarm.com has filed for an IPO worth $75 million. The company, which provides a system controlled by a smartphone app, includes Technology Crossover Ventures and ABS Capital Partners among its shareholders.
M&A
Charter Communications agreed to acquire Time Warner Cable for $78.7 billion including debt. The deal follows Comcast’s failed attempt to buy TWC earlier in the year. In contrast to the Comcast deal, which fell through due to regulatory issues, Charter has agreed to pay $2 billion should the deal collapse for any reason.
Avago Technologies has agreed to buy fellow chipmaker Broadcom for around $37 billion, in what Bloomberg describes as the biggest pure tech M&A deal in history. The deal values Broadcom at $54.40 per share in cash. Broadcom makes radios for consumer devices and chips used in data center networking equipment. This compliments Avago’s offerings, which include chips for automotive, industrial and communications applications.
Apple has acquired Metaio, an augmented reality company based in Germany. No financial terms were disclosed for the deal. Metaio had previously raised funding from Atlantic Bridge Capital and Enterprise Ireland. Metaio was launched back in 2003 as an offshoot of a project at Volkswagen.
Korean Internet company Daum Kakao will buy photo sharing website Path for an undisclosed sum. Path raised $80 million in funding previously from companies such as CrunchFund, First Round Capital, Kleiner Perkins and Index Ventures.