A Royal Bank of Canada (RBC) logo is seen on Bay Street in the heart of the financial district in Toronto, January 22, 2015.MARK BLINCH/Reuters
DEAL OF THE DAY: Windstream Said to Hire RBC for Data Storage Unit Sale
Windstream Holdings Inc. has hired Royal Bank of Canada to advise on the sale of its data storage business and is aiming to raise $500-million (U.S.) to $750-million, according to people familiar with the matter. Potential bidders for the unit of the Little Rock, Arkansas-based telecommunications firm include private equity players ABRY Partners and GI Partners, said one of the people, who asked not to be identified. Windstream purchased the hosted-solutions business from ABRY in 2010 for $310-million. Full story
MERGERS AND ACQUISITIONS
InSite wants out of proposed QLT acquisition
Alameda, Calif.-based InSite Vision Inc. wants out of a proposed acquisition by Vancouver, B.C.-based QLT so it can pursue a "superior proposal" from an unnamed multinational pharmaceutical company. QLT is considering whether it will match the new bid or not. If InSite terminates the agreement with QLT, it will have to pay a termination fee of $1.17-million. QLT press release InSite press release
PRIVATE EQUITY AND VENTURE CAPITAL
MLA48 leads $750,000 Seed Financing Round in Sharethebus
MLA48, a Toronto-based angel investment fund committed to providing 48 hour turnaround on investment decisions, announced Friday that it will invest in startup Sharethebus, an online marketplace that makes it easier for groups to share and charter buses to and from events. The initial investment from MLA48 spurred over $690,000 of further investment from the broader Maple Leaf Angel membership and other independent investors. Press release
PEOPLE MOVES
OMERS Ventures' Kevin Kimsa Leaves Canadian Venture Capital Firm
Kevin Kimsa, who joined OMERS Ventures two years ago and sat on the boards of several high-profile technology startups, has left the firm. Kimsa left the venture capital arm of the Ontario Municipal Employees Retirement System pension fund in July, he said Friday in a phone interview. Kimsa declined to comment on the reason for his departure. Full story
ANALYSIS AND INSIGHT
Ackman Owned Sprout Stake Before Ally Valeant Bought Drugmaker
Investor Bill Ackman, who allied himself with Valeant Pharmaceuticals International Inc. in a drug industry takeover battle last year, held a small stake in the company Valeant agreed to acquire this week, according to a person familiar with the matter. Full story
M&A Activity Down But M&A Spending Up In July
Merger and acquisition activity continued to show strength last month as there was only a slight decline in the number of deals with a slight increase in the amount of spending on deals. Private equity firms in particular slashed their M&A activity in July. Full story
Investors Hope to Ride Swell of SoulCycle Fever in Coming IPO
Boutique fitness centres that cater to those willing to pay more for a good sweat are on the rise, and wealthy backers are betting this market is more than a craze. Full story
Know of any upcoming deals we should cover? Have suggestions for making the Daily Deal Roundup more useful? E-mail us at deals@globeandmail.com.