EveryScape and Bing Expand Partnership, Raytheon Acquires Applied Signal, Avila Inks Sanofi Deal, & More Boston-Area Deals News
A flurry of pre-holiday announcements of fundings, partnerships, and acquisitions from Boston-area tech and life sciences companies has kept us busy in the past week.
—Cambridge, MA-based car-sharing service Zipcar added a $21 million Series G financing to its funding pot. The deal involved a $20 million investment from Meritech Capital Partners, and $1 million from Pinnacle Ventures. The company also announced it was making two new additions to its board: AOL co-founder and former CEO and chairman Steve Case, and John Mahoney, vice chairman and CFO of Framingham, MA-based Staples.
—Newton, MA-based EveryScape nabbed a partnership deal with Microsoft’s Bing Search Engine, using its technology to deliver “immersive imagery” across Bing’s local search results. EveryScape creates 3-D panoramic tours of restaurants and other businesses by stitching together photos of their interiors. The new deal expands a previous agreement in which EveryScape created 3-D tours for Boston-area restaurants on Bing. Financial terms for the deal were undisclosed, and EveryScape didn’t reveal whether it will receive technology licensing fees and/or a cut of advertising revenues.
—HeartWare International (NASDAQ: HTWR), a Framingham, MA-based maker of heart pump implants, announced it had raised $143.8 million in a public offering of convertible notes due in 2017.
—1366 Technologies of Lexington, MA, added $6 million to its Series B financing. The newest cash brings the second-round financing for 1366, a developer of silicon wafer technology, to $26 million.
—Waltham, MA-based diagnostics firm BG Medicine backed out of its second attempt at going public, withdrawing its filing for a $4.75-million-share initial public offering with a targeted price range of $13 to $15 per share.
—LiveWire Mobile, a Littleton, MA-based provider of music services and apps for the mobile, bought FoneStarz Media Group, a British provider of mobile content. The reported purchase price was $4 million.
—Natick, MA-based cloud storage startup Nasuni nabbed $15 million in Series B money, bringing its total funding pot to $23 million. The deal was led by new investor Flybridge Capital Partners, with participation from existing Nasuni backers North Bridge Venture Partners and Sigma Partners.
—Waltham defense contractor Raytheon (NYSE: RTN) announced it had agreed to acquire Applied Signal Technology (NASDAQ: APSG), a maker of communications, analytics software and cyberwarfare technology, for about $490 million in cash. The $38-per-share deal is set to close first quarter of next year.
—Avila Therapeutics of Waltham inked a deal worth up to $800 million with French drugmaker Sanofi-Aventis (NYSE: SNY), in exchange for access to its technology for identifying potential cancer drugs that silence tumor-related proteins with durable covalent bonds. The deal includes a $40 million upfront payment and research support for the next three years, with potential development and regulatory milestone payments on drugs Sanofi decides to advance.
—Casenet, a Bedford, MA-based health IT firm, brought in $8.4 million of an equity offering that could total $8.8 million, according to an SEC filing. Investors in the new funding round were not revealed, but the firm has previously raised money from HLM Venture Partners, Sigma Partners, and Aurora Funds.