Top of the Morning
The U.S. Justice Department "is preparing for litigation in case it decides to sue to block" AT&T's proposed $85 billion takeover of Time Warner, according to the WSJ.
- Why it's the BFD: Because when this mega-deal was first announced, it appeared likely to sail through due to a relative lack of competitive overlap. But this sort of press leak suggests that regulators are, at the very least, going to ask for significant concessions.
- Flashback: "As an example of the power structure I'm fighting, AT&T is buying Time Warner and thus CNN, a deal we will not approve in my administration because it's too much concentration of power in the hands of too few." – Donald Trump, 10/22/16
Venture Capital Deals
• GetYourGuide, a Berlin-based travel activities platform, has raised $75 million in Series D funding. Battery Ventures led the round, and was joined by return backers KKR, Spark Capital, Highland Europe, Sunstone Capital and Nokia Growth Partners. http://axios.link/xPze
• Onica, a Los Angeles-based provider of Amazon Web Services consulting and managed services, has raised $20 million from Sunstone Partners. http://axios.link/hifS
🚑 Ranger Health, a San Antonio-based provider of on-demand healthcare services, has raised $10 million in VC funding from firms like HOLT Ventures. www.rangerhealth.com
• Rallyteam, a San Francisco-based talent development platform, has raised $8.6 million in Series A funding. Norwest Venture Partners and Storm Ventures co-led the round, and were joined by Cornerstone OnDemand and Wilson Sonsini Goodrich & Rosati. http://axios.link/ZpmP
• Reaction Commerce, a Santa Monica, Calif.-based open-source commerce platform for retailers and brands, has raised $8.5 million in Series A funding. GV led the round, and was joined by CrossCut Ventures, Double M Partners, Joanne Wilson and Female Founders Fund. http://axios.link/g969
• Testim, a San Francisco-based autonomous testing startup, has raised $5.6 million from Lightspeed Venture Partners. www.testim.io
• Lunar Wireless, a Detroit-based "pay as you use" mobile carrier, has raised $4.1 million in funding led by 8VC. http://axios.link/kRJa
Private Equity Deals
• Ctrip.com (Nasdaq:CTRP) has acquired Trip.com, a Palo Alto, Calif.-based travel platform that had raised nearly $40 million in VC funding from HomeAway, Battery Ventures, Juvo Capital and Redpoint Ventures. http://axios.link/IYZj
• VMware (NYSE: VMW) has agreed to acquire VeloCloud Networks, a Mountain View, Calif.-based provider of cloud-based networking services. VeloCloud has raised over $80 million in VC funding from Telstra Ventures, Khazanah, NEA, Venrock, March Capital Partners, Cisco Investments and Hermes Growth Partners. http://axios.link/mfZu
• Synopsys (Nasdaq: SNPS) has agreed to acquire Black Duck Software, a Burlington, Mass.-based provider of open-source software deployment and management solutions, for $565 million. Black Duck has raised over $90 million in VC funding since 2004, from firms like Split Rock Partners, Volition Capital, Flagship Ventures, General Catalyst Partners, SAP, Sapphire Ventures, Intel Capital, Focus Ventures, Red Hat and Siemens Venture Capital. http://axios.link/1Tik