Exact Teams With Genzyme, Shrugs off Sequenom; Virtual Computer Reels in $15M; Beacon Power Inks National Grid Agreement; & More Boston-Area Deal News
Plenty of deals to discuss from all areas of technology and life sciences this week—including a couple of M&A switcheroos.
—Diagnostics maker Exact Sciences (NASDAQ:EXAS) of Marlborough, MA, sold its assets related to prenatal and reproductive health to Cambridge, MA-based Genzyme (NASDAQ:GENZ) for $24.5 million. In response, San Diego-based Sequenom (NASDAQ:SQNM) ended its attempted takeover of Exact—an all-stock deal valued at $41 million.
—CloudSwitch of Waltham, MA, raised $7.4 million in a Series A financing round. Atlas Venture and Matrix Partners co-led the deal for the cloud-computing startup, which was co-founded by CEO Ellen Rubin and John Considine.
—New Haven, CT-based antibiotic developer Rib-X Pharmaceuticals raised $25 million in a debt financing. Previous investors Warburg Pincus, ABS Ventures, Axiom Ventures, EuclidSR Partners, MedImmune Ventures, Oxford Bioscience Partners, SR One, and Vox Equity Partners participated in the deal.
—Virtual Computer, a PC virtualization startup in Westford, MA, raised $15 million in a Series B funding round led by return investors Highland Capital Partners and Flybridge Capital Partners and joined by strategic investor Citrix Systems of Fort Lauderdale, FL.
—IT security consulting firm GlassHouse Technologies of Framingham, MA, acquired Chicago-based CSSG, a fledgling security consulting firm, for an undisclosed sum. Wade explains the strategy behind the deal and a bit about its history.