XL Hybrids Gets $300K, BP Acquires Verenium’s Cellulosic Biofuels Business, NE Q2 Venture Investing Slims Down, & More Boston-Area Deals News
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VC data reports we track showed that dollars invested in area startups fell in Q2 from the first quarter of 2010. All but one of the top 10 deals last quarter fell in the biotech or healthcare sectors, Greg wrote.
—Andover, MA-based NaviSite (NASDAQ: NAVI), a provider of IT services like data hosting, said Atlantic Investors, one of its majority shareholders, had made an offer to purchase the rest of the company’s common stock at $3.05 per share, for a total of $72.9 million. NaviSite’s board formed a committee to consider the offer from Atlantic, which already owns 36.6 percent of the company’s common stock.
—Nashua, NH-based DiagnosisONE, a developer of software for clinical decisions support, got $5 million from Edison Venture Fund. The company will put the cash toward sales, marketing, and development efforts.
—ActiFio, a Waltham, MA maker of data management virtualization technology, reported that it had completed its $8 million Series A round earlier this year, led by Greylock Partners and North Bridge Venture Partners. We wrote about the first $4 million tranche last July.
—Mitralign, a Tewksbury, MA-based developer of a catheter-based system for mitral valve repair, said it attracted a $5 million credit facility from GE Capital, which will be used for working capital for developing its technology.