Oracle Buys ATG for $1B, Acquia Raises $8.5M, Boston Scientific Sells Unit to Stryker for $1.5B, & More Boston-Area Deals News

11/4/10

If you like deals with a “billion” in them, this was the week for you.

—Software maker Neohapsis of Cambridge, MA, raised $4.5 million in a deal led by New Venture Partners and joined by return backers Trident Capital and Paladin Capital Group. Neohapsis, which targets the governance, risk, and compliance market, also acquired the assets of Dallas, TX-based Texert, another New Venture Partners portfolio company.

—Boston-based CardStar, a developer of customer loyalty card apps for mobile phones, completed $750,000 of a planned $1 million equity- and rights- based offering, according to a regulatory filing. CardStar’s previous backers include Amplifier Venture Partners, LaunchCapital, Acta Wireless, and Verizon Ventures.

InVivo Therapeutics of Cambridge completed a reverse merger with an entity called InVivo Therapeutics Holdings and will begin trading on the OTC market under the symbol “NVIV” starting October 28. The developer of implants for treating spinal cord injuries is also conducting a $10.5 million private placement financing.

—Sudbury, MA-based Solx raised $3.7 million of an equity offering that could total $7.2 million, according to an SEC filing. An alum of the BU Photonics Center business accelerator program, Solx makes systems for treating glaucoma.

—Medical device giant Boston Scientific (NYSE:BSX) of Natick, MA, has agreed to sell its neurovascular business to Kalamazoo, MI-based Stryker (NYSE:SYK) for $1.5 billion in cash. The business, based in Fremont, CA, had 2009 revenue of $348 million.

—Boston-based wind farm developer First Wind Holdings pulled its proposed initial public offering, saying that the terms being offered to the company for the deal were not attractive.

—Financial services software startup peerTransfer raised $1.1 million from Spark Capital, John Landry, Dave McClure, Jim Hornthal, Ken Morse, Roy Rodenstein, Project 11 Ventures, and Spanish investors Marek Fodor, Pablo Carrallo, and Raul Aznar. The Boston-based startup, founded last year, specializes in Web-based international money transfers and global payments.

—Boston-based Keane, an IT services firm, inked a merger deal with Japan-based NTT Data that will result in Kean becoming a wholly owned subsidiary of NTT Data. The companies did not reveal the financial terms of the deal, but media reports indicate NTT Data shelled out around $1.2 billion for Keane.

—Woburn, MA-based Acquia, a provider of services and tech support for Drupal users, raised $8.5 million in a Series C financing. Existing investors North Bridge Venture Partners and Sigma Partners contributed to the round, alongside Acquia CEO Tom Erickson.

—Cambridge-based e-commerce platform provider Art Technology Group (NASDAQ: ARTG) agreed to be bought by Redwood Shores, CA-based database giant Oracle (NASDAQ: ORCL) for $1 billion in cash, or $6 per share. Co-founder Joe Chung, who called the deal a great fit, said the news took him by surprise, as acquisition rumors have swirled around ATG since its IPO in 1999.

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