A view of the corporate sign outside the Honeywell International Automation and Control Solutions manufacturing plant in Golden Valley, Minn., January 28, 2010. REUTERS/ Eric MillerEric Miller/Reuters
DEAL OF THE DAY: Honeywell shells out $5.1-billion for Elster
Industrial systems-maker Honeywell International Inc. has acquired Elster, a manufacturer of water and gas meters, from Melrose Industries for $5.1-billion (U.S.) cash. The deal comes as part of Honeywell CEO Dave Cote's plan to spend $10-billion on M&As by 2019 to bolster Honeywell's equipment offerings and market presence. Melrose bought Elster in 2012 for $2.3-billion. Full story
MERGERS AND ACQUISITIONS
Precision Castparts buys Noranco for $560-million
Precision Castparts Corp., an industrial goods and metals company, has bought Noranco Inc., a Canadian manufacturer and solutions provider, from U.S. private equity firm MidOcean Partners and Canadian pension fund manager PSP Investments. The deal is valued at $560-million (U.S.). Full story
More big moves by big pharma
Jordanian company Hikma Pharmaceuticals PLC said it would buy German drug-maker Boehringer Ingelheim's U.S. generic drugs business for about $2.65-billion (U.S.) in cash and stock options. Hikma will pay $1.18-billion in cash and issue 40 million new Hikma shares, or about 16.71 per cent of its issued share capital. Full story
DataKinetics makes strategic acquisition
DataKinetics, a Canadian data solutions provider, has acquired SoftwareOnZ, a network solutions firm for an undisclosed amount. The acquisition comes after DataKinetics' official partnership with HostBridge, SQData and zCost Management – an alliance formed to compete with global vendors to reduce big data costs. Press release
Denison Mines joins with Fission Uranium
Denison Mines Corp. and Fission Uranium Corp. are combining their businesses to create a diversified uranium company headlined by two uranium exploration and development projects: Fission's 100-percent-owned Patterson Lake South Project, and Denison's 60-percent-owned Wheeler River Project, both located in the Athabasca Basin in Northern Saskatchewan. Press release
PRIVATE EQUITY AND VENTURE CAPITAL
IT firm Dapasoft gets $4-million for global expansion
Dapasoft Inc., a Toronto-based IT health care consulting group, has secured a $4-million investment from the York Angel Investors, becoming the investor group's largest deal to date. Dapasoft said the proceeds will support its expansion plans into the United States and global markets. Full story
E-card company Buyatab also gets expansion funding
Buyatab Online Inc, a provider of digital gift card solutions, has completed a new funding round. The investors and the raised amount were not disclosed. The company will use the proceeds of the latest investment to accelerate sales and marketing of its e-gift card platform in the United States and to advance its operations in international markets. Press release
Deliveroo, another unicorn in the making
Deliveroo, an upscale online food delivery service based in London, England (similar to Just Eat PLC) has raised $70-million (U.S.) in a series C funding round led by Index Ventures and Greenoaks Capital. The company plans to use the proceeds to expand in Europe, the Middle East and in Asia. Full story
ANALYSIS AND INSIGHT
Canada's three largest cities are also great start-up ecosystems
Toronto, Vancouver and Montreal have been ranked among the world's top 20 startup ecosystems, in the 17th, 18th, and 20th spots respectively. The rankings were done by Compass, a U.S. provider of automated reporting and benchmarking software. Compared to the last report in 2012, Toronto and Vancouver received lower rankings in 2015, while Montréal joined the top 20, and Waterloo fell off of the list. Full story
IN CASE YOU MISSED IT
The Economist is for sale
Britain's Pearson PLC is in talks to sell its 50-per-cent stake in The Economist to the other shareholders of the weekly magazine. The company recently closed the sale of its Financial Times newspaper to Japanese media group Nikkei. The move come as part of the company's efforts to focus on being an education specialist. Full story
Fairfax picks up a production company
Fairfax Financial Holdings Ltd. has taken a majority stake in Toronto-based Temple Street Productions, the company behind the television series Orphan Black. Strategic and day-to-day decisions will remain in the hands of Temple Street co-presidents David Fortier and Ivan Schneeberg. Full story
Know of any upcoming deals we should cover? Have suggestions for making the Daily Deal Roundup more useful? E-mail me at deals@globeandmail.com. I'll respond personally to every e-mail.