Done Deals

• Universe Media Holdings, an advertising firm based in China, has received $58.3 million (£31.1 million) from two venture capital funds ahead of a planned overseas listing

• ReSteel, a Dutch company specialising in technology of extraction of base metals, has received an undisclosed amount of funding from Icos Capital

• A consortium of investors led by EVP Capital Management has invested 5.1 million (£4 million) in Signature Diagnostics, a German-based developer of diagnostic producers for cancer

• Nortel Networks, a US-based telecommunications and network equipment company, has acquired Pingtel, a designer of software-based communications technology for an undisclosed sum

• Secured Group, a Merseyside-based postal services group, has secured a £1.6 million investment from Aquarius Equity Partners

• ProCurve, Hewlett Packard’s networking business, has acquired Colubris Networks for an undisclosed sum

• Software testing and quality management services company, SQS, has acquired Validate Technology Svenska and VeriSoft Infoservices in a share consideration

In the pipeline

• eBay is looking to buy a minority stake in Gmarket, a Korean-based online auctioneer

• Earlybird has closed new Earlybird IV fund and has raised 127 million (£101 million) in order to fund young, innovative companies

• The European Commission has approved the 60 per cent acquisition of Haluco and Nedalpac by Total Produce, a fresh produce company, for 23 million (£18.3 million)

• German-based travel company TUI intends to withdraw from the shipping industry by selling its container shipping unit Hapag-Lloyd

• Irish-based Office supplies company Bryan S Ryan and Office Evolutions Group are merging in a 15 million (£11.9 million) deal