Exit watch, Nov. 27, 2006

Akamai buys Nine, huge win for Catalyst

Akamai Technologies Inc. (Nasdaq: AKAM) has agreed to acquire Nine Systems Corp., a San Diego-based provider of solutions for rich media production. The deal is valued at about $164 million, including $7 million in cash and 3.1 million Akamai common shares.

Nine Systems raised $1.5 million in startup funding from Catalyst Investors in 2000. The company develops software used for production and publishing of content online, which publishers use to manage their rich media.

3M cuts deal to buy SoftMed

(NYSE: MMM) has agreed to acquire SoftMed Systems Inc., a Silver Spring, Md.-based provider of health information management software and services for health care organizations. No financial terms were disclosed. SoftMed is a portfolio company of TA Associates, and was valued at about $195 million when TA invested $45 million in a private equity deal in late 1999.

Earlier this month, SoftMed was sued by Burlington, Mass.-based Nuance Communications, which alleged that SoftMed infringed on its patents covering digital dictation systems.

GXS buys UDEX of the UK

, a Gaithersburg, Md.-based provider of B2B ecommerce solutions, has acquired UDEX Ltd., a Newport, U.K.-based provider of product data quality services. No financial terms were disclosed.

UDEX, which maintains a U.S. operation in Redwood City, Calif., had raised more than $20 million in VC funding from such firms as 3i Group, Northbridge Ventures and Montagu Private Equity.

Pharmion coughs up $59M cash for Cabrellis

(Nasdaq: PHRM) has acquired Cabrellis Pharmaceuticals, a San Diego-based oncology company. The deal includes an initial cash payment of $59 million, plus the possibility of two milestone payments of $12.5 million each. Cabrellis raised $27.5 million in Series A funding earlier this year from Domain Associates, Forward Ventures, Lilly Ventures, ProQuest Investments, RBC Capital Partners, RiverVest Venture Partners and SR One Ltd. —PE Week staff