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:  American Electric Power Company (NAS: AEP)
Sellers:  Sempra Energy

Luxtera

Industry: Semiconductors

 Deal Size:  $660M

Buyers:  Cisco Systems (NAS: CSCO)
Sellers:  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:  Prometheus Biosciences
Sellers:  Nestlé Health Science

Calporta Therapeutics

Industry: Biotechnology & Pharmaceuticals

 Deal Size:  $576M

Buyers:  Merck (ETR: MRK)
Sellers:  Avalon Ventures, GlaxoSmithKline

Vertiflex

Industry: Biomedical Products & Services

 Deal Size:  $515M

Buyers:  Boston Scientific (NYS: BSX)
Sellers:  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:  Siemens Healthineers (FRA: SHL)
Sellers:  Gryphon Investors

Perfect Bar

Industry: Consumer Products

 Deal Size:  $284M

Buyers:  Mondelez International (NAS: MDLZ)
Sellers:  VMG Partners

Abide Therapeutics

Industry: Biotechnology & Pharmaceuticals

 Deal Size:  $267M

Buyers:  Lundbeck (CSE: LUN)
Sellers:  Cardinal Partners, Celgene, Cure Alzheimer’s Fund

Maxwell Technologies

Industry: Cleantech & Energy

 Deal Size:  $235M

Buyers:  Tesla (NAS: TSLA)
Sellers:  BlackRock Fund Advisors, Neuberger Berman Investment Advisers

Pura Vida Bracelets

Industry: Consumer Products

 Deal Size:  $99.5M

Buyers:  Vera Bradley (NAS: VRA)
Sellers: 

Source: PitchBook; Connect

2019 San Diego Innovation Report

Previous San Diego Innovation Reports

2018   |   2017   |   2016   |   2015