IPO
KKR is reportedly exploring an IPO for MMI International, a precision engineering company based in Singapore, according to The Wall Street Journal. MMI manufactures hard disk parts for a variety of industries, ranging from oil and gas to aerospace. It was acquired in 2007 for $700 million. The plan is to raise around $300 million on the Singapore Exchange in the second half of the year. If it does, it would be the biggest IPO of the year on SGX.
M&A
Cap Gemini SA is paying $4 billion to acquire iGate Corp., an Indian IT services provider. The deal will expand Cap Gemini’s footprint in the software, equipment, and technology consulting space, where it competes with companies Accenture and IBM. Upon Monday’s announcement of the deal, Cap Gemini stock rose 7.9 percent to €84.54, a thirteen year high. It is the largest deal for Cap Gemini since it acquired Ernst & Young’s consulting business in 2000 for over $10 billion.
Twitter is acquiring TellApart, an omnichannel digital ad platform for brands like Neiman Marcus and Warby Parker, for a reported $533 million. Twitter CEO Dick Costello invested in TellApart’s $4.8 million Series A back in 2010. It comes the same week that Twitter announced that ads on the site could now be purchased through Google’s DoubleClick ad exchange.
In an effort to raise its appeal among merchants, MasterCard has agreed to pay $600 million to acquire Applied Predictive Technologies, an Arlington, VA-based software consulting and analytics firm for consumer facing companies. MasterCard acquired 5One, a U.K.-based retail analytics and consulting firm, last November.
After missing its most recent debt payment, the crowdsourced video game developer OUYA is looking for a buyer. In 2013, the company raised $15 million in equity financing from investors like Kleiner Perkins and Shasta Ventures, and $10 million from Alibaba Capital Partners earlier this year. The debt payments it missed are owed to TriplePoint Capital, according to Fortune.
The Financial Times is reporting that PE shops Silver Lake Partners and Warburg Pincus are looking to sell their joint stakes in Interactive Data Corp, a company that evaluates the prices of financial securities, through a sale that could fetch around $5.5 billion. Interactive Data was taken private in 2010. It competes in the market with Bloomberg and Thomson Reuters.