Snowblind Sold to Warner Bros., Seattle Genetics’ Stock Story, Mo’ Madrona for Mixpo, & More Seattle-Area Deals News
It was another busy week for deals in the Northwest, with a steady drumbeat of fundings, acquisitions, and partnerships in software, biotech, mobile, and energy.
—Puget Energy, the Bellevue, WA-based public utility company, completed its $7.4 billion purchase by a syndicate of private investment firms, and was de-listed from the New York Stock Exchange. The new entity, called Puget Holdings, is owned by Macquarie Infrastructure Partners, Macquarie Capital Group, CPP Investment Board, British Columbia Investment Management, Alberta Investment Management, and Macquarie-FSS Infrastructure Trust.
—Portland, OR-based FreeRange Communications was acquired by mobile media firm Handmark, which is based in Kansas City, MO. Financial terms were not disclosed. FreeRange makes mobile publishing software and works with companies like The Wall Street Journal, Associated Press, and CBS.
—Luke reported on how Bothell, WA-based Seattle Genetics’ underwritten stock sale for $55.8 million went down on January 27, and what has happened to the company’s stock since. It’s an intriguing tale of how to raise money in biotech in a very difficult time.
—Redmond, WA-based Mobui, a mobile software firm, teamed up with Nickelodeon to deliver an iPhone application based on the SpongeBob cartoon character. Terms of the deal weren’t announced. It is Nickelodeon’s first foray into iPhone apps.
—Bothell, WA-based Snowblind Studios, a maker of role-playing video games, was acquired by Warner Bros. for an undisclosed price. Snowblind will team up with Warner Bros. Interactive Entertainment, the publishing division, to produce new games.
—Coaxis, the Portland, OR software company, has sold off its Insight Distribution Software business to Eden Prairie, MN-based High Jump Software, a provider of supply chain and logistics services. Financial terms were not given. Insight Distribution specializes in software for the food and beverage industries.
—Portland, OR-based RNA Networks, a memory virtualization software firm, said it had raised $7 million in Series A funding, led by Menlo Ventures. The round closed in April 2008, but had not been reported previously. RNA Networks develops software that makes memory in servers and data centers faster and cheaper for customers in the financial services, content delivery, and gaming industries.
—Seattle-based Mixpo, an online video-advertising startup, raised $4 million in a Series B round of funding, led by Seattle’s Madrona Venture Group. Other investors included Yaletown Venture Partners and Growthworks Capital. Founded in 2005, Mixpo has raised a total of $10.5 million in venture funding.
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