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GSK to partner with venture capital firm for drug discovery

(Reuters) - GlaxoSmithKline <GSK.L> said on Monday it will partner with venture capitalists Avalon Ventures in a deal worth up to $495 million (£323.66 million) to fund as many as 10 drug-discovery startup companies over the next three years. GSK will provide financing and technical support to startups established by Avalon Ventures and will have first rights on buying each new company, GSK spokeswoman Melinda Stubbee said.

Infineon, Philips may have colluded on EU smart chip prices

By Foo Yun Chee BRUSSELS (Reuters) - Infineon Technologies, Philips and several other chipmakers could face fines after European competition regulators said they may have colluded to fix prices for chips used in mobile SIM cards, passports and bank cards. The European Commission said it sent documents setting out its concerns to companies it suspected of behaving like a cartel in the market for smart card chips, which are also used in pay television systems and identity cards.

Exclusive - Bain nears $3 billion fundraising close: sources

By Greg Roumeliotis NEW YORK (Reuters) - Bain Capital LLC is close to securing commitments from investors for about half the $6 billion (3.9 billion pounds) target for its latest private equity fund, two people familiar with the matter said on Monday. The Boston-based buyout firm is finalizing subscriptions from investors for close to $2.5 billion for Bain Capital Fund XI, the people said. The amount does not include a $600 million commitment from the firm's fund managers.

Bankers prepare 4 billion pounds Acromas debt refinancing - sources

By Claire Ruckin LONDON (Reuters) - Bankers are working on a refinancing of the 4 billion pound ($6.2 billion) debts of the private equity-owned firm behind British motoring services firm AA <AUTSO.UL> and travel company Saga, banking sources said on Monday.

Intelsat plans scaled-back IPO in New York

Satellite operator Intelsat Global Holdings revived Tuesday its plan for an initial public offering on the New York Stock Exchange, aiming to raise up to $710 million, less than half of what it envisioned last year. Intelsat, the privately held satellite-services giant, plans to use the IPO proceeds to pay down debt, according to a filing with the US Securities and Exchange Commission.

Intelsat plans IPO in New York

Satellite operator Intelsat Global Holdings announced Tuesday a plan for an initial public offering on the New York Stock Exchange. The privately held company said it would price the shares between $21 and $25 per share to raise as much as $710 million. The date of the IPO was not announced. The Luxembourg group, which will simplify its name to Intelsat SA and trade under the ticker "I," proposed to issue 21.74 million common shares and three million Series A mandatory convertible junior non-voting preferred shares.

AXA Private Equity raises 1.75 billion euros for infrastructure

By Tommy Wilkes LONDON (Reuters) - The private equity arm of French insurance giant AXA <AXAF.PA> has raised 1.75 billion euros (1.5 billion pounds) for investments in European infrastructure, in a further sign of buoyant demand for road, rail and energy assets. The AXA Infrastructure Fund III, the group's largest to date, closed with 1.45 billion euros while investors committed a further 300 million euros for investments outside the fund.

UPDATE 1-Perform buys Dutch soccer site, profit doubles

LONDON, March 5 (Reuters) - Digital sports rights group Perform bought a Dutch soccer website on Tuesday, continuing a trend of bolt-on deals that helped the company to double annual profit in 2012. Perform said on Tuesday it was paying an initial 2 million euros ($2.6 million) for Voetbalzone.nl, with an additional payment of up to 10.5 million euros to be made depending on performance over the next three years.

FEATURE-Inmates go high-tech as startup mania hits San Quentin

By Gerry Shih SAN QUENTIN, Calif., Feb 24 (Reuters) - One by one, the entrepreneurs, clad in crisp blue jeans and armed with PowerPoint presentations, stood before a roomful of investors and tech bloggers to explain their dreams of changing the world. For these exuberant times in Silicon Valley, the scene was familiar; the setting, less so.

RPT-Square scandal highlights growing pains at tech start-ups

By Sarah McBride SAN FRANCISCO, Feb 11 (Reuters) - When Square Chief Operating Officer Keith Rabois left his job last month, citing legal threats from a young colleague with whom he had a two-year relationship, he threw a spotlight on the risks associated with the freewheeling startup culture that many entrepreneurs cherish.
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