Exit watch. June 18, 2007

Broadcom buys Global Locate for $226M

Broadcom Corp.

(Nasdaq: BRCM) has agreed to acquire Global Locate Inc., a San Jose, Calif.-based provider of GPS technology to the wireless industry. The deal is valued at up to $226 million, including a $146 million up-front cash payment, and up to $80 million in possible cash earn-outs. Global Locate has raised VC funding from such firms as Siemens Venture Capital, GC Investments, Motorola Ventures Firsthand Capital Management and Third Point Offshore Fund.

Mentor pays $90M for Sierra Design

Mentor Graphics Corp.

(Nasdaq: MENT) has acquired Sierra Design Automation Inc., a Santa Clara, Calif.-based provider of place and route software. The deal was valued at $90 million, with half in cash and the other half in Mentor Graphics common stock. Sierra Design had raised about $22 million in VC funding since 2004 from such firms as Artiman Ventures, Evercore Partners and TeleSoft Partners.

Summit Accelerator-backed Autobase sold

Dominion Enterprises

, a Norfolk, Va.-based media company, has acquired Autobase Inc., an Indianapolis-based provider of marketing and sales solutions for auto dealerships. No financial terms were disclosed. Autobase had raised $8.5 million in a 2004 venture round led by Summit Accelerator Fund.

Big Blue buys Watchfire

IBM

(NYSE: IBM) has agreed to acquire Watchfire Corp., a Waltham, Mass.-based provider of security and compliance testing software. No financial terms were disclosed. Watchfire has raised more than $40 million in VC funding since 1999 from such firms as Kodiak Venture Partners, Polaris Venture Partners, Ventures West, Goldman Sachs, Dain Rauscher and BancBoston Ventures.

Athersys, BTCH in reverse merger

Athersys Inc., a Cleveland-based regenerative medicine company, has completed a reverse merger with BTCH VI Inc. (OTC BB: BVIC) in which BTCH will change its name to Athersys. As part of the merger, BTCH has raised $65 million via a private placement. Radius Ventures led the deal, and was joined by OrbiMed Advisors, RA Capital Management, Accipiter Capital Management, H&Q Capital Management, MPM BioEquities and Pappas Ventures. Athersys raised more than $90 million in VC funding between 1996 and 2002.

YP buys operator of online Yellow Pages

YP Corp.

(OTC BB: TPNT) has acquired LiveDeal Inc., an operator of online local classified and Yellow Pages marketplaces. The all-stock deal is valued at about $11 million. LiveDeal had raised about $5 million in VC funding from Draper Richards, Torstar Corp. and individual investors.

First Data buys FundsXpress

First Data Corp.

(NYSE: FDC) has completed its previously-announced acquisition of FundsXpress, an Austin, Texas-based provider of online banking and bill payment services for consumers and small businesses. No financial terms were disclosed. FundsXpress was advised by Lane Berry & Co., and had raised $80 million in total VC funding from such firms as Warburg Pincus, Beacon Partners, Cendant Corp. and Texas Growth Fund.

Blackstone sells Extended Stay

The Blackstone Group

has completed its sale of Extended Stay Hotels to the Lightstone Group for $8 billion. Blackstone retains a 10% stake in Extended Stay, which it acquired in 2004 for about $3.13 billion (including $1.13 billion in assumed debt).

Broadview steers to InfoHighway with acquisition

Broadview Networks Holdings Inc.

, a Rye Brook, N.Y.-based provider of integrated communications and managed security services, has completed its acquisition of InfoHighway Communications, a New York-based provider of hosted and managed communications solutions for business customers in the Mid-Atlantic and Northeastern United States. No financial terms were disclosed. InfoHighway backers include Apollo Real Estate Advisors, LLR Partners, Liberty Venture Partners, Spectrum Equity Investors and Trimaran Capital Partners. Broadview shareholders include Baker Capital, MCG Capital, New Enterprise Associates, ComVentures and Lightspeed Venture Partners.