Hadapt Gets Series A, Cisco Buys BNI, Cubist Acquisition of Adolor Valued at $415M, & More Boston-Area Deals News
Financing rounds, acquisitions, and business plan prizes have made up the New England deals news this week.
—Continuing the West-Coast-company-buys-East-Coast-company trend of last week, San Jose, CA-based Cisco Systems announced its purchase of Boxborough, MA-based BNI Video, a developer of software for managing cable content on the back end and improving the browsing experience for viewers. Cisco (NASDAQ: CSCO) bought the startup, which has raised about $17 million in venture funding, for $99 million in cash and retention-based incentives.
—Yale University spinout Hadapt raised a Series A funding round from Norwest Venture Partners and Bessemer Venture Partners. The round was reported at $9.5 million, which potentially included seed funding the startup raised earlier. Hadapt, a maker of software enabling businesses to analyze structured and unstructured data, plans to relocate its headquarters to Boston.
—Venture investments in Massachusetts companies totaled $505 million across 95 deals for third quarter of 2011, just over half of the $1 billion total from the quarter before, according to the MoneyTree report from PricewaterhouseCoopers and the National Venture Capital Association, with data from Thomson Reuters. This year’s third quarter still showed a 10 percent improvement in funding over Q3 2010, though. Check out the deals list and details here.
—MassChallenge awarded a total of $1 million to 17 startups in the second year of its accelerator program and business plan competition. Three companies (one life sciences, one IT, one sanitation) each nabbed $100,000 checks, while the remaining 14—covering the food, Web, window, and shoe spaces (and more)—each won $50,000.
—My colleague Arlene took a look at Lexington, MA-based Cubist Pharmaceuticals’s (NASDAQ: CBST) $190 million cash acquisition of Adolor (NASDAQ: ADLR). The deal comes out to $4.25 a share, plus milestones that are achieved with one of Adolor’s experimental drugs, ADL5945, for treating chronic opioid-induced constipation.