San Diego Innovation Report
— 2019 —
Mergers & Acquisitions
$5.27 Billion, 29 Deals
San Diego mergers and acquisitions in 2019 accounted for over $5 billion in funds exchanged. 2019’s largest deal was Sempra Energy’s sale of its subsidiary, Sempra Renewables, to American Electric Power Company’s subsidiary, AEP Renewables for approximately $1.1 billion. Luxtera’s $660M acquisition by Cisco Systems results in back to back years with a large acquisition of a semiconductor company in San Diego, following Illumina’s $100M acquisition of Edico Genome in 2018.
Sempra Renewables
Industry: Cleantech
 Deal Size: $1.1B
Buyers:Â American Electric Power Company (NAS: AEP)
Sellers:Â Sempra Energy
Luxtera
Industry: Semiconductors
 Deal Size: $660M
Buyers:Â Cisco Systems (NAS: CSCO)
Sellers:Â Advanced Equities, August Capital, California Institute of Technology Endowment, Cisco Investments, Freescale Semiconductor, Horizon Technology Finance, ITU Ventures, Lux Capital Management, New Enterprise Associates, Osage University Partners, Sevin Rosen Funds, TEL Venture Capital, venture/science, Western Technology Investment
Prometheus Laboratories
Industry: Biomedical Products & Services
 Deal Size: $650M
Buyers:Â Prometheus Biosciences
Sellers: Nestlé Health Science
Calporta Therapeutics
Industry: Biotechnology & Pharmaceuticals
 Deal Size: $576M
Buyers:Â Merck (ETR: MRK)
Sellers:Â Avalon Ventures, GlaxoSmithKline
Vertiflex
Industry: Biomedical Products & Services
 Deal Size: $515M
Buyers:Â Boston Scientific (NYS: BSX)
Sellers:Â Aberdare Ventures, Alta Partners, Endeavour Vision, H.I.G. BioHealth Partners, H.I.G. Capital, Morgenthaler Ventures, New Enterprise Associates, Thomas McNerney & Partners
ECG Management Consultants
Industry: Biomedical Products & Services
 Deal Size: $300M
Buyers:Â Siemens Healthineers (FRA: SHL)
Sellers:Â Gryphon Investors
Perfect Bar
Industry: Consumer Products
 Deal Size: $284M
Buyers:Â Mondelez International (NAS: MDLZ)
Sellers:Â VMG Partners
Abide Therapeutics
Industry: Biotechnology & Pharmaceuticals
 Deal Size: $267M
Buyers:Â Lundbeck (CSE: LUN)
Sellers:Â Cardinal Partners, Celgene, Cure Alzheimer’s Fund
Maxwell Technologies
Industry: Cleantech & Energy
 Deal Size: $235M
Buyers:Â Tesla (NAS: TSLA)
Sellers:Â BlackRock Fund Advisors, Neuberger Berman Investment Advisers
Pura Vida Bracelets
Industry: Consumer Products
 Deal Size: $99.5M
Buyers:Â Vera Bradley (NAS: VRA)
Sellers:Â –
Source: PitchBook; Connect