Exit watch, April 23, 2007

Chockstone buys Peppercoin

Chockstone Inc.

has acquired Peppercoin Inc., a Waltham, Mass.-based provider of ecommerce services. No financial terms were disclosed. Peppercoin had raised more than $24 million in VC funding since 2002, including a $10.5 million late stage infusion in 2005. Investors include the Massachusetts Institute of Technology, POD Holding, Total Technology Ventures, Pangaea Ventures and Allianz Private Equity Partners.

Sun hot for SavaJe IP assets

Sun Microsystems Inc.

(Nasdaq: SUNW) has agreed to acquire the IP assets of SavaJe Technologies Inc., a Chelmsford, Mass.-based provider of mobile telephony software. No financial terms were disclosed. SavaJe has raised more than $120 million in total VC funding since 1999, including a $13 million Series AA recap round last summer. Participants on the recap included RRE Ventures, Ridgewood Capital and Vodafone.

First Data acquires FundsXpress

First Data Corp.

(NYSE: FDC) has agreed to acquire FundsXpress, an Austin, Texas-based provider of online banking and bill payment services for consumers and small businesses. No financial terms were disclosed. FundsXpress has raised $80 million in total VC funding from such firms as Warburg Pincus, Beacon Partners, Cendant Corp. and Texas Growth Fund. Separately, Kolberg Kravis Roberts & Co. recently agreed to acquire First Data, a provider of ecommerce services, for about $29 billion.

Energy companies merge

Eltek Energy

, a subsidiary of listed Norweigen telecom company Eltek Group, has agreed to acquire Valere Power Inc., a Richardson, Texas-based provider of power supply solutions for communications providers. The combined company will be called Eltek Valere, and is expected to “investigate a separate listing of the company in the US or another major global exchange in the future.” Valere shareholders will receive about $83 million in cash, plus a minority stake in the new company. Valere had raised about $63 million since 2001 from such firms as Sierra Ventures, Alcatel Ventures, Dali Hook Partners, JPMorgan Partners and Lehman Brothers.

Oracle scoops up software developer

Oracle Corp. has acquired AppForge Inc., an Atlanta-based maker of software for mobile handsets. No financial terms were disclosed. AppForge had raised about $24 million in VC funding since 2001 from such firms as C&B Capital, Council Ventures, Grosvenor Funds, New Atlantic Ventures, SBK Capital and Sinclair Ventures.

Red Swoosh sold for $15M in stock

Akamai Technologies Inc.

(Nasdaq: AKAM) has acquired Red Swoosh Inc., a San Mateo, Calif.-based distributed networking infrastructure company. The deal is valued at about $15 million in Akamai stock. Red Swoosh was seeded by Dallas Mavericks owner and billionaire Mark Cuban. The company later raised about $1.73 million in Series A funding from August Capital and Radical Investments.

TelCIS sells WiMAX technology

TeleCIS Wireless Inc.

, a Campbell, Calif.-based developer of WiMAX fixed and portable broadband wireless chips, has sold its 16e WiMAX mobile SoC technology to Qualcomm. No financial terms were disclosed. TeleCIS had raised more than $14 million in VC funding from ATA Ventures, Samsung Ventures, Bokwang Investment Corp., Korea Technology Investment Corp. and TurboTek Co. Ltd.

Technorati sweet on Personal Bee

Technorati Inc.

, a San Francisco–based search engine for the blogosphere, has acquired The Personal Bee Inc., a Berkeley, Calif.-based provider of personalized news aggregation. No financial terms were disclosed. Personal Bee had raised about $500,000 from Mohr Davidow Ventures. Technorati is also VC-backed, having raised $18 million in funding from August Capital, Draper Fisher Jurvetson and Mobius Venture Capital.

MedAssets buys Texas company

MedAssets Inc.

, a provider of health care claims and remittance solutions, announced last week it has agreed to acquire XactiMed, a Richardson, Texas-based provider of Web-based revenue cycle technologies and services to the health care industry. No financial terms were disclosed for the deal, which is expected to close next month. XactiMed is controlled by Buena Venture Associates, a fund founded by Sid R. Bass and Lee M. Bass. Alpharetta, Ga.-based MedAssets is backed by Galen Partners, Grotech Capital Group and Parthenon Capital. —PE Week staff