Payment processor First Data to raise up to $3.2 billion in IPO: Reuters

(Reuters) — Credit card processor First Data Corp said it plans to raise up to $3.2 billion from its initial public offering and will use the proceeds to cut down debt. The company was taken private in 2007 by KKR & Co LP for about $29 billion in one of the biggest leveraged buyouts before the financial crisis. Atlanta-based First Data expects its IPO to price between $18 and $20 per class A share, valuing the company at about $17.58 billion at the upper end of the range. The company plans to use proceeds from the IPO to reduce its $21.03 billion debt pile. Citigroup, Morgan Stanley, BofA Merrill Lynch and KKR are the offering’s joint bookrunning managers.

Go here to read the rest:
Payment processor First Data to raise up to $3.2 billion in IPO: Reuters

Qualcomm to invest up to $150 mln in India startups

Qualcomm Inc will be launching a fund that will invest up to $150 million in India startups. Qualcomm Ventures will advise and direct Qualcomm on all these investments. PRESS RELEASE September 28, 2015 Qualcomm Incorporated (NASDAQ: QCOM) today announced its intention to invest up to $150 million in Indian startup companies across all stages as part of its commitment to India during a meeting with Prime Minister Narendra Modi at the Digital Economy event in San Jose. Qualcomm Ventures will advise and direct Qualcomm’s activities with respect to these strategic investments. Qualcomm has been investing in promising Indian startups since 2007 and there are more than 20 Indian companies as part of its global portfolio. Sectors of investment vary across the mobile ecosystem and include hardware, software platforms, e-commerce, healthcare, location based services and retail technology. Initiatives such as the QPrize™ competition, a global seed investment competition, as well as an early stage fund, are part of the team’s efforts in encouraging early stage entrepreneurs. Qualcomm directly invests in Indian mobile and internet start-up companies to keenly foster the local ecosystem. Portfolio companies include Yourstory, a media tech platform for entrepreneurs; Portea Medical, an in-home healthcare provider; and MapMyIndia, a provider of digital map, navigation, and tracking products and services. Indian companies receiving funding can benefit from Qualcomm’s insights on mobile technologies and utilize Qualcomm’s relationships throughout the industry. Qualcomm Ventures’ India team also provides unique support through its comprehensive knowledge and understanding of the region. “We share Prime Minister Narendra Modi’s vision to transform India into a digitally empowered society and knowledge economy. India is at the cusp of a technology revolution and mobile technologies will lay the foundation for Digital India,” said Dr. Paul E. Jacobs, executive chairman, Qualcomm Incorporated. “We are committed to providing local innovative start-ups with the support needed to help India’s IOE ecosystem grow, increasing consumer choice and availability.” “Since Qualcomm’s first India investment in 2007 and with full-fledged presence starting in early 2008, we continue to invest broadly to strengthen India’s overall economy,” said Nagraj Kashyap, senior vice president of Qualcomm Incorporated. “We are committed to providing these companies with the support needed to help propel them forward in the competitive Indian region. We’re excited about the new prospects in India and look forward to growing our portfolio.” Qualcomm also plays a key role driving India’s wireless revolution by making mobile communications increasingly accessible and affordable. For over two decades, Qualcomm has been helping the country’s mobile ecosystem achieve ongoing success and growth through its work with operators, OEM/ODMs, software developers, sales/distribution partners, governmental entities, academic institutions and standards organizations, among others. Qualcomm believes that its initiatives in India will help support the Indian government’s Digital India vision. For more information please visit www.qualcommventures.com. ABOUT QUALCOMM INCORPORATED Qualcomm Incorporated (NASDAQ: QCOM) is a world leader in 3G, 4G and next-generation wireless technologies. Qualcomm Incorporated includes Qualcomm’s licensing business, QTL, and the vast majority of its patent portfolio. Qualcomm Technologies, Inc., a subsidiary of Qualcomm Incorporated, operates, along with its subsidiaries, substantially all of Qualcomm’s engineering, research and development functions, and substantially all of its products and services businesses, including its semiconductor business, QCT. For more than 30 years, Qualcomm ideas and inventions have driven the evolution of digital communications, linking people everywhere more closely to information, entertainment and each other. For more information, visit Qualcomm’s website,OnQ blog, Twitter and Facebook pages.

Excerpt from:
Qualcomm to invest up to $150 mln in India startups

Cargill’s Black River Asset Management to split into three separate firms: Reuters

(Reuters) — Cargill Inc said on Monday that it will spin off Black River Asset Management LLC and split the hedge fund arm into three separate employee-owned firms. Black River is expected to split into firms to focus on different business streams – fixed income relative value fund, an emerging markets credit fund and a private equity group, Cargill’s spokeswoman Lori Johnson said in an email. The Wall Street Journal reported that two commodities funds focused on agriculture and energy would be moved from within Black River to a business within Cargill. Cargill, which is one of the world’s largest privately held corporations and a top commodity trader, expects to complete these transitions within the next several months. Black River’s board of directors and its senior management team have been conducting a strategic review of the hedge fund’s structure and various firm offerings. The management has just completed the full review, Johnson said. Cargill spokeswoman did not disclose the terms of the deal. The Financial Times earlier first reported that Cargill is winding down Black River Asset Management, the hedge fund arm it started in 2003. (on.ft.com/1MVOCQp) (Reporting by Aurindom Mukherjee and Sneha Banerjee in Bengaluru; Editing by Cynthia Osterman)

Read more:
Cargill’s Black River Asset Management to split into three separate firms: Reuters

Heartland Consumer Products buys Splenda

Heartland Consumer Products LLC said Friday that it has closed its buy of the Splenda brand from Johnson & Johnson Consumer Inc. Financial terms weren’t announced. Centerbridge Partners LP is also investing. J.P. Morgan acted as financial advisor to Heartland. PRESS RELEASE CARMEL, Ind., Sept. 25, 2015 /PRNewswire/ — Heartland Consumer Products LLC today announced it has completed the purchase of the SPLENDA® brand from Johnson & Johnson Consumer Inc. Global sales for the SPLENDA® brand were approximately $370 million in 2014. Financial terms of the transaction have not been disclosed. Heartland was assisted in the transaction by Hughes Hubbard & Reed and Benesch, Friedlander, Coplan & Aronoff LLP as legal advisors. J.P. Morgan acted as exclusive financial advisor to Heartland on the acquisition of Splenda and the investment by Centerbridge. Heartland was joined in the transaction by Centerbridge Partners L.P. as a private equity investor and Rabobank as its lead bank. About Heartland Consumer Products LLC With the completion of this transaction Heartland becomes the largest producer of tabletop sweeteners in the world. This acquisition complements Heartland’s existing sweetener, liquid water enhancer and aseptic beverage products. Headquartered in Carmel Indianawith offices and manufacturing facilities in Amsterdam and Mexico, Heartland is uniquely positioned to further expand the well-known Splenda® brand worldwide. SOURCE Heartland Consumer Products LLC

More:
Heartland Consumer Products buys Splenda

Elastimed raises $1 mln

Elastimed has raised $1 million in funding, including an investment from Pix Vine Capital. Misgav, Israel-based Elastimed, a portfolio company of Trendlines Medical, is developing a wearable device to treat Chronic Venous Insufficiency and prevent Deep Venous Thrombosis. PRESS RELEASE MISGAV, Israel, September 24, 2015 /PRNewswire/ — ElastiMed, a portfolio company of Trendlines Medical, announced this week that it raised $1 million, which includes an investment from Pix Vine Capital, a Singapore-based investment house. ElastiMed is developing an effective wearable device using smart materials to treat Chronic Venous Insufficiency (CVI) and to prevent Deep Venous Thrombosis (DVT). CVI is a condition that affects 40% of the adults in the United States, whereby the veins cannot pump enough blood back to the heart, causing blood to “pool” or collect in the veins. Symptoms include pain, swelling, ulcers, lymphedema, varicose veins, and spider veins. DVT, one of the most common causes of CVI, is responsible for 600,000 hospitalizations per year in the U.S. and is one of the leading causes for preventable deaths. Wearing compression stockings is a proven and effective treatment that works by exerting pressure on the lower limbs. The stocking reduces the diameter of distended veins and causes an increase in venous blood flow velocity and valve effectiveness. However, current compression therapy devices are inconvenient and difficult to apply, causing patients’ non-compliance to reach 60%. ElastiMed utilizes innovative, smart material technology in the development of an easy-to-wear stocking, which is expected to significantly improve patient compliance. Omer Zelka, CEO of ElastiMed, commented: “We are extremely pleased with the interest that our technology has generated. The venture capital investment at this early stage is a testimony to the investors’ confidence in our team and in the business potential that this technology holds.” Eran Feldhay M.D., CEO of Trendlines Medical, added: “For a company just starting off, this is an amazing achievement. I am confident that in the near future we will see ElastiMed’s technology implemented in the treatment of CVI to provide a solution for the many patients worldwide who suffer from this condition.” Patrick De Silva, Chief Investment Partner of Pix Vine Capital, said: “We are excited to support the potential commercialization of a simple but effective wearable device based on smart material technology, to treat CVI and to prevent DVT.” The Trendlines Group (http://www.trendlines.com) is an innovation commercialization company that discovers, invests in, and incubates innovation-based medical and agricultural technologies to fulfill its mission to improve the human condition. As intensely hands-on investors, Trendlines is involved in all aspects of its portfolio companies from technology development to business building. Pix Vine Capital (http://www.PixVC.com) is a Singapore-based Investment House providing early-stage venture capital to startups aspiring to commercialize innovative solutions in the areas of Info-Tech, Med-Tech and Fin-Tech. PixVC has had Israeli technologies as a focus since 2007, establishing itself as a player within the startup-investments ecosystem in Israel. With Singapore as its home base, PixVC invests in the Asian region, having taken stakes in startups in Myanmar, Vietnam, Thailand, India, China, Malaysia andSingapore.

View original post here:
Elastimed raises $1 mln