Google Pays $700M for ITA, Eli Lilly Buys Alnara, Skyhook Lands Samsung Partnership, & More Boston-Area Deals News
We saw news of several local acquisition deals by technology powerhouses in the past week.
—Watertown, MA-based Dicerna Pharmaceuticals, a developer of RNA interference drugs, raised $5 million in an offering of debt and options. The startup previously raised $21.4 million in Series A funding from Abingworth Management, Skyline Ventures, and Oxford Bioscience Partners. Former Oxford general partner Doug Fambrough resigned from his post in May to become CEO of Dicerna.
—Google paid about $700 million to acquire Cambridge, MA-based ITA Software, and in turn has entered the travel search space. ITA’s technology powers the online itineraries and pricing data systems for big airlines, as well as travel comparison sites like Orbitz, Kayak, and Farecast (Bing Travel). Early this week, Greg wrote a piece about what the deal could mean for the Cambridge innovation scene and others in the travel search engine space.
—Cambridge-based Alnara Pharmaceuticals was bought by drug giant Eli Lilly (NYSE: LLY). The companies didn’t reveal financial terms of the acquisition. Alnara, which has applied for FDA approval of its enzyme supplement liprotamase, a treatment for the genetic disorder cystic fibrosis, has raised about $55 million in venture capital financing in its two-year history, from investors such as Bessemer Venture Partners, Frazier Healthcare Ventures, Longwood Founders Fund, MPM Capital, and Third Rock Ventures.
—Geo-location firm Skyhook Wireless announced an agreement that brings its technology, which determines a device’s location based on the identities of nearby Wi-Fi networks, to Samsung mobile devices. No financial details were disclosed for the deal, which adds another big name to Boston-based Skyhook’s roster of heavy-hitting technology partners, including … Next Page »