Private Equity
Ikanos Communications Inc. (Nasdaq: IKAN), a provider of broadband semicondcutor and software products for the digital home, has agreed to acquire the Broadband Access unit of Conexant Systems Inc. (Nasdaq: CNXT). The deal is valued at $54 million in cash, plus the assumption of certain liabilities. In conjunction with the transaction, Ikanos will sell 24 million shares of common stock to Tallwood Venture Capital for $42 million, or $1.75 per share. Tallwood also will receive warrants to purchase another 7.8 million shares at the same price. Were it to exercise those options, it would hold around a 45% equity stake in Ikanos.
5 min read · 25 August 2009
Live Gamer Inc., a platform that allows online gamers to buy and sell virtual assets with real money, has acquired TwoFish Inc., a provider of virtual economy data solutions for casual gaming and social application developers. No financial terms were disclosed. Live Gamer has raised over $26 million in VC funding, from firms like Charles River Ventures, Kodiak Venture Partners and FirstMark Capital. This includes a $24 million Series B round in late 2007 at a post-money valuation of approximately $60 million. TwoFish has raised around $8.5 million from Triplepoint Capital, Rustic Canyon Partners and Venrock.
4 min read · 24 August 2009
Fortinet Inc., a Sunnyvale, Calif.-based network security provider, has acquired certain assets and IP of Woven Systems, a Santa Clara, Calif.-based developer of 10 gigabit Ethernet fabric solutions. No financial terms were disclosed. Fortinet is in registration for a $100 million IPO, and has raised around $83 million in VC funding since 2002, from firms like Redpoint Ventures (15.5%) and Meritech Capital Partners (10.9%), Acorn Campus Ventures, DCM, Defta Partners and WI Harper Group. Woven Systems raised $35 million from Mohr Davidow Ventures , Goldman Sachs and Palomar Ventures.
2 min read · 20 August 2009
Major League Gaming, a New York-based professional video game league, has acquired Agora Games Inc., a Troy , N.Y.-based developer of video game community applications. No financial terms were disclosed. MLG has raised over $32 million in VC funding from Oak Investment Partners.
2 min read · 18 August 2009
RenewData, an Austin, Texas-based provider of discovery, archiving and governance solutions for electronically-stored information, has acquired Digital Mandate, a provider of discovery lifecycle management solutions. The acquisition was supported by new equity from existing RenewData shareholders ABS Capital Partners and CIBC Capital Partners. No financial terms were disclosed, but VentureWire puts the investment at $6 million.
3 min read · 13 August 2009
Xora and Gearworks have agreed to merge, forming a single maker of location-based mobile business applications. No financial terms were disclosed, except that each company's existing VC investors has committed new equity. That includes Xora backer Dawntreader Ventures, and GearWorks backers BlueStream Ventures, Split Rock Partners and Rho Ventures.
3 min read · 13 August 2009
Zoopla, a UK-based provider of residential property value data, has acquired rival PropertyFinder from News International Ltd. and the REA Group. No financial terms were disclosed. Zoopla has raised VC funding from Octopus Ventures and Atlas Venture.
5 min read · 12 August 2009
QuinStreet Inc., a Foster City, Calif.-based provider of online vertical marketing solutions, has agreed to acquire the Internet.com assets of WebMediaBrands Inc. (Nasdaq: WEBM), for $18 million. QuinStreet has raised nearly $60 million in VC funding, from firms like Granite Global Ventures, Focus Ventures, Rosewood Capital, Catterton Partners, Charter Growth Capital, VSP Capital, J&W Seligman, Stanford University, Split Rock Partners and Sutter Hill Ventures.
4 min read · 12 August 2009
Facebook has acquired FriendFeed Inc., a Mountain View, Calif.-based social networking site focused on content sharing. No financial terms have been disclosed. Friendfeed raised a $5 million in Series A funding in Ferbruary 2008. Benchmark Capital led the round, and was joined by company co-founders Paul Buchheit and Sanjeev Singh. Facebook investors include Accel Partners, Greylock Partners, Meritech Capital Partners, Microsoft and Millennium Technology Ventures.
2 min read · 10 August 2009
Zynga, a San Francisco-based social gaming company, has acquired MyMiniLife Inc., a social networking site that lets users build and decorate environments. No financial terms were disclosed. Zynga has raised around $45 million in VC funding from firms like Kleiner Perkins Caufield & Byers, Institutional Venture Partners, Avalon Ventures, Foundry Group and Union Square Ventures.
1 min read · 09 August 2009
