The Firm is representing Silver Lake Sumeru in connection with the announced merger of Power-One, Inc. (NASDAQ: PWER) and ABB Ltd (NYSE: ABB). Investment funds affiliated with Silver Lake Sumeru own common stock and convertible preferred stock representing, on an as-converted basis, approximately 33% of the outstanding equity securities of Power-One. Under the terms of the merger agreement, ABB will acquire all of the issued and outstanding shares of Power-One for $6.35 per share in cash, which represents an equity value of approximately $1.028 billion. The transaction is subject to the satisfaction of customary closing conditions and is expected to close in the second half of 2013.

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Davis Polk advised the underwriters in connection with an initial public offering of 6,900,000 shares of common stock of Rally Software Development Corp. (including 900,000 shares in respect of the exercise in full of the underwriters’ option to purchase additional shares) at $14.00 per share for gross proceeds of $96.6 million. Deutsche Bank Securities Inc. and Piper Jaffray & Co. acted as lead book-running managers and Needham & Company, LLC, JMP Securities LLC and William Blair & Company, L.L.C. acted as co-managers. Rally Software’s common stock is traded on the New York Stock Exchange under the symbol “RALY.”

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The Palo Alto office of global law firm K&L Gates LLP welcomes Linda Zhou as a partner in the emerging growth and venture capital practice. Zhou joins K&L Gates from Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP.

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Dickstein Shapiro LLP is pleased to announce that Atulya R. Agarwal has joined the firm’s Intellectual Property Practice as partner, effective April 1, in its Palo Alto, California office. He joins the firm from Elan Pharmaceuticals, Inc. where he was a senior vice president and served as Elan’s chief intellectual property officer. Dr. Agarwal has more than two decades of life-sciences experience, including 10-plus years as in-house IP counsel to biopharmaceutical companies. His arrival strengthens the firm’s biotechnology patent prosecution, strategy, and licensing practices in Palo Alto, and his practice will leverage his extensive industry and in-house experience to assist companies in developing IP strategies to maximize the value of their portfolios by protecting assets and products though patent counseling, prosecution, due diligence, transactions, and litigation.

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Cooley LLP announced today that it advised Otsuka in its $825 million collaboration agreement with Lundbeck to further the development and commercialization of a developmental drug, Lu AE58054, for the treatment of Alzheimer’s disease.

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Perkins Coie is pleased to announce that Lowell Ness has joined the firm’s Palo Alto office as a Partner in the firm’s Emerging Companies practice. Ness was most recently a Partner in the Silicon Valley office of Orrick Herrington & Sutcliffe LLP.

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Davis Polk advised Comcast Corporation and NBCUniversal Media, LLC in connection with the cross-guarantee by Comcast and certain of its cable holding companies of NBCUniversal’s $11 billion of public debt securities and by NBCUniversal of Comcast’s and the cable guarantors’ $30 billion of public debt securities and Comcast’s $6.25 billion credit facility. Following Comcast’s announcement that it would acquire General Electric Company’s 49% stake in NBCUniversal and that it would include NBCUniversal in the cross-guarantee structure, Standard & Poor’s upgraded all of Comcast’s and NBCUniversal’s public debt securities from BBB+ to A- and Moody’s Investors Service upgraded Comcast’s public debt securities from Baa1 to A3 and NBCUniversal’s public debt securities from Baa2 to A3.

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Shearman & Sterling is advising TIBCO Software Inc. in its acquisition of Maporama Solutions SAS, a French company engaged in providing geocentric mapping solutions and services.

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Davis Polk Advises Citigroup in Connection with Amending and Restating Eastman Kodak Company’s Debtor-In-Possession Revolving Credit Facility.

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Davis Polk advised Comcast Corporation, NBCUniversal Media, LLC and NBCUniversal Enterprise, Inc. in connection with the issuance and sale of $4 billion aggregate principal amount of senior notes and $725 million aggregate liquidation preference of Series A cumulative preferred stock of NBCUniversal Enterprise, Inc. The notes are guaranteed by Comcast and certain of its cable subsidiaries that guarantee Comcast’s publicly traded debt securities. The notes and the preferred stock were issued in connection with Comcast’s acquisition on March 19, 2013, of the 49% common equity interest in NBCUniversal, LLC held by General Electric Company (GE). Sales of the notes and preferred stock were made in separate private placements pursuant to Rule 144A.

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