Exit watch, Nov. 13, 2006

Indegene acquires VC-backed MedCases


has acquired MedCases, a Philadelphia-based provider of interactive continuing medical education. No financial terms were disclosed. MedCases uses an Internet-based system to deliver comprehensive learning applications to physicians, pharmaceutical companies, academic medical centers and health care delivery organizations. The company has raised nearly $12 million in total VC funding, including an $8.6 million Series B round in 2001 at a post-money valuation of about $29 million. Backers of MedCases include Adler & Co., Brooks Capital Group, Churchill Investment Partners, PA Early Stage, PPM America, Siparex Group and Wynnefield Capital Advisors.

Network Appliance scoops up Topio

Network Appliance Inc.

(Nasdaq: NTAP) has agreed to acquire Topio Inc., a Santa Clara, Calif.-based provider of data replication software, for $160 million in cash. Topio, which does its research and development in Haifa, Israel, produces software that helps customers recover data from disasters and protects it regardless of the storage infrastructure. Topio has raised nearly $30 million in VC funding since its 2001 inception from such firms as Sequoia Capital, Sigma Partners and Star Ventures.

AOL buys Relegence


has acquired The Relegence Corp., a New York-based financial news and information search technology company. No financial terms were disclosed, but it was reported that the American Internet giant paid between $50 million and $100 million for Relegence. Relegence had raised more than $13 million in VC funding from Hudson Venture Partners, Phoenix Partners, Broadband Venture Partners and Entertainment Media Ventures.

EMC pays $165M for Avamar

EMC Corp.

(NYSE: EMC) has agreed to acquire Avamar Technologies Inc., an Irvine, Calif.-based provider of data backup and recovery solutions. The deal is valued at approximately $165 million in cash, and is expected to close within the next 30 days. Avamar has raised about $40 million in VC funding from such firms as CMGI @Ventures, Benchmark Capital, Goldman Sachs, Morgan Stanley Venture Partners and Lightspeed Venture Partners. —PE Week staff