Inverness Buys Again, BIND Ties Up Some Dough, TurboPower Fires Up, Passport Systems Screens New Funds, and More

12/3/07

Last week saw a steady stream of smallish and medium-sized deals for Greater Boston’s high-tech and life-sciences firms. The list includes many familiar faces:

—Inverness Medical Innovations (AMEX: IMA), a Waltham-based diagnostics maker, announced its planned $230 million acquisition of Upper Saddle River, NJ’s ParadigmHealth. Malorye profiled Inverness a couple of weeks ago.

—Voice-over-Internet device maker Covergence of Maynard, MA, raised $15 million in a Series D round from the likes of Highland Capital Partners, Globespan Capital Partners, and North Bridge Venture Partners.

—Acton, MA-based cargo-screening firm Passport Systems has closed some $7.4 million of an anticipated $10 million funding round led by angel investors and two local venture funds. Seth wrote about Passport back in September

—BIND Biosciences of Cambridge, MA, has completed a $16 million Series B financing round with Polaris Venture Partners, Flagship Ventures, ARCH Ventures, and NanoDimension. I wrote about BIND—one of the more interesting biotech startups out there right now—a few weeks back.

—Social networking site GuildCafe of Cambridge, MA, acquired Uberguilds for an undisclosed sum. Wade profiled GuildCafe in July.

—Microwave Device Technology, an aptly named provider of microwave and semiconductor products and components in Westford, MA, announced it will sell all of its assets for $7.8 million in cash to Irvine, CA-based Microsemi.

—Woburn, MA-based Wilson TurboPower, which is developing an efficient microturbine for onsite power generation, closed $4M in Series A funding, on top of an earlier Series A closing worth some $3 million.

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