Exit watch, Jan. 15, 2007

StubHub just the ticket for eBay

San Jose, Calif.-based eBay Inc. (Nasdaq: EBAY) has agreed to acquire StubHub Inc., a San Francisco-based provider of an online peer-to-peer marketplace for sporting and concert tickets. The deal is valued at $310 million in cash, and is expected to close later this quarter.

The acquisition should produce a retunr of at leats 8x for StubHub’s venture backers, assuming they own at least half of the company.

StubHub was co-founded in 2000 by Stanford University graduate students Jeff Fluhr, who’s the CEO, and Eric Baker. The pair launched the company after developing the concept as part of a Stanford business school competition. They were named finalists, but they pulled out of the running to launch their Internet company.

Baker left the company in 2004, though he retains a significant stake, to found and serve as CEO of a similar European ticket reseller called Viagogo.com.

The company raised about $19 million in VC funding, including a $2.5 million infusion in 2002 at a post-money valuation of about $15 million. Backers include Allen & Co., Staenberg Venture Partners and Blue Water Capital.

Corrigo corrals Aligo

Corrigo Inc., a Wilsonville, Ore.-based provider of on-demand service management solutions, has acquired Aligo Inc., a San Francisco-based provider of mobile field service and service management solutions. No financial terms were disclosed. Aligo has raised more than $30 million in VC funding since its 1999 inception from such firms as Dolphin Equity Partners, Motorola Ventures, RBC Capital Partners and Thomas Weisel Venture Partners. VC-backed Corrigo has raised more than $41 million from Asset Management Co., Sierra Ventures, Sycamore Ventures and Staenberg Venture Partners.

Purchase of Syntonix could reach $120M

Biogen Idec

(Nasdaq: BIIB) has agreed to acquire Syntonix Pharmaceuticals Inc., a Waltham, Mass.-based drug company focused on chronic diseases, such as hemophilia. The deal includes an additional $40 million cash payment, plus up to $80 million in milestone earn-outs. It is expected to close later this quarter. Syntonix has raised more than $64 million, including a 2002 infusion at a $61 million post-money valuation. Backers include Alta Partners, Bay City Capital, HBM Partners, Pappas Ventures, The AFB Fund and Venrock Associates.

NextWave on the GO

NextWave Wireless Inc.

(Nasdaq: WAVEV) has agreed to acquire GO Networks Inc., a Mountain View, Calif.-based developer of mobile WiFi network solutions for service providers looking to deploy on campuses and in municipalities. The deal includes an initial cash payment of $13.3 million, plus up to $25.7 million in possible earnouts that would be paid in NextWave common stock. NextWave also will assume about $7.5 million in existing GO Networks obligations. GO Networks raised a $20 million Series A round in late 2004 at a post-money valuation of about $40 million. Backers include Accel Partners, Apax Partners, Israel Seed Partners and Pitango Venture Capital.

Macrovision buys Mediabolic for $44M

Macrovision Corp.

(Nasdaq: MVSN) has acquired Mediabolic Inc., a San Mateo, Calif.–based provider of software solutions for connected consumer electronics devices. The deal is valued at about $44 million in cash. Mediabolic has raised about $6 million from AsiaTech Management, Intel Capital and Spinnaker Ventures.

Stent maker sold to Boston Scientific

Boston Scientific Corp.

(NYSE: BSX) has acquired EndoTex Interventional Systems Inc., a Cupertino, Calif.-based carotid artery stent maker. No financial terms were disclosed. Endotex raised more than $25 million in total VC funding, plus a late strategic infusion from Boston Scientific. Other shareholders included Delphi Ventures, Guidant Corp., New Enterprise Associates, New Venture Partners, Onset Ventures, US Surgical and Saratoga Ventures.

Chicago company acquires SecurePipe


, a Chicago-based provider of data security and compliance management solutions for the payment card industry, has acquired SecurePipe, a Lincolnshire, Ill.-based managed security provider. No financial terms were disclosed. SecurePipe had raised nearly $14 million in VC funding from such firms as The Argentum Group, First Analysis Corp. and Prism Capital.

Brocade buys Silverback

Brocade Communications Systems Inc.

(Nasdaq: BRCD) has acquired Silverback Systems Inc., a Campbell, Calif.-based provider of network acceleration technologies. No financial terms were disclosed, except that Brocade said that the “cash purchase price is not material to Brocade.” Silverback has raised about $50 million in total VC funding since its 2000 inception from such firms as JPMorgan Partners, Pitango Venture Capital, China Development Industrial Bank, Gemini Capital, Intel Capital, Newbury Ventures, Network Appliance Corp. and US Trust Private Equity.