Nuance Buys SVOX, Aveo Sells $100M in Stock, CSN Grabs $165M, & More Boston-Area Deals News

6/22/11Follow @xconomy

New England biotechs and IT startups don’t seem to indicate a summer slowdown. They’ve been inking some pretty massive financing deals this week, as well as an acquisition or two.

—Cambridge, MA-based drug developer Aveo Pharmaceuticals (NASDAQ: AVEO) raised $100 million, selling 5.75 million shares of stock at $17.50 apiece in an underwritten public offering. Aveo had $233 million in cash and investments as of March 31 and enough cash to operate through 2012, according to federal documents.

—Burlington, MA-based Nuance Communications (NASDAQ: NUAN) acquired Zurich-based embedded speech software firm SVOX, for 87 million Euros (about U.S. $125 million), in a mix of upfront cash and cash and stock over the next two years.

—Westford, MA-based Aylus Networks raised $16 million to put toward its software for improving video communications on mobile phones. The deal was led by London-based m8 Capital, with participation from previous Aylus investors Matrix Partners and North Bridge Venture Partners.

Performable, a Cambridge-based marketing automation startup, was acquired by Cambridge-based HubSpot for an undisclosed sum. Performable’s 18 staffers will join HubSpot, a marketing tech company with more than 260 employees now, at its Kendall Square digs, with Performable founder David Cancel becoming HubSpot’s chief product officer.

1366 Technologies, a Lexington, MA-based developer of silicon wafer technology for solar cells, said that it received a conditional commitment from the U.S. Department of Energy for a $150 million loan guarantee.

—Boston-based ad tech startup OwnerIQ nabbed a $7 million investment from its existing backers, Atlas Venture, CommonAngels, Kepha Partners, and the Massachusetts Technology Development Corporation, and new investor Longworth Venture Partners.

—Data from CB Insights FundingFlash showed that Massachusetts startups collected $305.6 million in 36 equity-based financings in May, keeping up the solid pace started the month before.

—CSN Stores, a Boston-based online retailer, raised its first outside funding: a $165 million growth round from Battery Ventures, Great Hill Partners, HarbourVest Partners, and Spark Capital. The company quietly owns about 200 online stores selling home goods and the like, and has been profitable since its 2002 inception, boasting $380 million in revenue in 2010.

—Boston biotech Tesaro closed a hefty $101 million Series B round of funding, led by Kleiner Perkins Caufield & Byers. Founding investor New Enterprise Associates, and new investors that include InterWest Partners, T. Rowe Price, Pappas Ventures, Oracle Partners, Deerfield Management, and Leerink Swann, also participated in the deal for Tesaro, which is focused on advancing cancer drug candidates discovered by other firms.

Kyruus, a Boston-based health IT startup, took in $5.5 million in a Series A round led by Highland Capital Partners, Venrock, and Gerson Lehrman Group, with participation from angel investors Jonathan Bush, Ed Park, John Goldsmith, and James Golden.

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