Exit watch, April 2, 2007

Active Network buys online registration company

The Active Network Inc., a San Diego-based marketing and consumer promotions agency, has acquired Thriva, a Bothell, Wash.-based provider of online management software, online registration and payment processing for camps and event organizations. No financial terms were disclosed. The Active Network has raised more than $70 million in VC funding since its 1998 inception from such firms as Austin Ventures, Kettle Partners, ABS Ventures, Canaan Partners, Charles River Ventures, DB Venture Partners, North Bridge Venture Partners, Enterprise Partners Venture Capital and Ticketmaster.

NuVox, FDN announce merger

NuVox Communications

of Greenville, S.C., has agreed to merge with FDN Communications of Maitland, Fla., to form a single facilities-based communications provider. It will operate under the NuVox brand, with annual revenue expected to initially exceed $500 million. No financial terms were disclosed. NuVox has raised about $495 million since its 1997 inception, with current shareholders including Goldman Sachs, Quadrangle Group, Columbia Capital, Kohlberg Kravis Roberts & Co., Wachovia Capital Partners, M/C Venture Partners and J.H. Whitney & Co. FDN has raised about $144 million since 1998, with current shareholders listed as M/C Venture Partners, Columbia Capital and Centennial Ventures.

Best Buy scoops up Speakeasy

Best Buy Co. Inc.

(NYSE: BBY) has agreed to acquire Speakeasy Inc., a Seattle-based provider of broadband voice, data and IT services. The deal is valued at about $97 million, which is about 1.2x Speakeasy’s 2006 revenue of $80 million. Speakeasy has raised $55 million in VC funding since 2000 from such firms as Granite Ventures, 3i Group, BV Capital, Intel Capital and TI Ventures.

Finisar to purchase Kodeos

Finisar Corp.

(Nasdaq: FNSR) has agreed to acquire Kodeos Communications Inc., a South Plainfield, N.J.-based provider of optical transponders and subsystems. The deal is valued at $7 million in cash, plus the possibility of up to $3.5 million in earnouts for Kodeos shareholders and employees. Kodeos had raised about $24 million in VC funding from such firms as Highland Capital Partners and JVP through 2005. Last year, Kodeos added new shareholders based on its acquisition of Intersymbol Communications. Those investors include Champaign-Urbana Fund, CID Equity Partners, Intel Capital, Intersymbol Investment Fund, Open Prairie Ventures, Telecommunications Development Fund and Venture Investors.

Optium buys Israeli company

Optium Corp. (Nasdaq: OPTM), a Chalfont, Pa.-based maker of optical subsystems for use in telecom network systems, has agreed to acquire Kailight Photonics Inc., an Israel-based provider of 40 Gbps optical transmission products. The deal includes a $35 million up-front cash payment, plus a stock earnout of up to $5 million. Kailight has raised about $12.1 million in VC funding since 2001 from such firms as Lucent Venture Partners, Hyperion Venture Partners, Ofer Brothers High-Tech Group, Peregrine Ventures and Yozma Venture Capital.

CBS tackles high school sports

CBS Corp. (NYSE: CBS) has acquired MaxPreps, a Cameron Park, Calif.-based provider of high school sports information and media services. No financial terms were disclosed. MaxPreps had raised about $12 million in VC funding from such firms as Dolphin Equity Partners, BEV Capital and DFJ Frontier.

Plug connects with fuel cell developer

Plug Power Inc. (Nasdaq: PLUG) has agreed to acquire Cellex Power Products Inc., a Richmond, British Columbia-based developer of fuel cells for industrial vehicles, for $45 million in cash. Cellex raised an undisclosed amount of VC funding from such firms as GrowthWorks, Conduit Ventures and Ventures West.

HP buys photo-sharing startup

Hewlett-Packard (NYSE: HPQ) announced last week that it has agreed to acquire Tabblo Inc., a Cambridge, Mass.-based provider of photo sharing and printing solutions. No financial terms were disclosed for the deal, which is expected to close within the next few weeks. Tabblo was launched last year with undisclosed venture funding from Matrix Partners. —PE Week staff