Turin Networks Inc.
, a Petaluma, Calif.-based provider of IP and multi-service optical transport solutions, has acquired the product portfolio and most material assets of White Rock Networks, a bankrupt provider of next-generation optical transport products for metro networks. The deal reportedly is valued at less than $4 million.
Turin last month competed in a bid for White Rock, which filed for Chapter 11 bankruptcy protection and closed its doors on Aug. 31.
White Rock, based in Richardson, Texas, had raised about $160 million from 3i Group, Cypress Semiconductor, Dali Hook Partners, Fremont Ventures, Investor Growth Capital, Mayfield, Meritech Capital Partners, Oak Investment Partners and Pacesetter Capital. Turin has raised nearly $190 million in total VC funding since its 1999 inception from such firms as Bay Partners, Baker Capital, DCM-Doll Capital Management, Motorola Ventures, RWI Group, Sequoia Capital, Telos Venture Partners and Van Wagoner Capital.
IronPort Systems Inc.
, a San Bruno, Calif.-based Internet gateway security provider, has acquired PostX Corp., a Cupertino, Calif.-based provider of enterprise email encryption technology. No pricing terms of the all-stock transaction were disclosed. PostX has raised about $58 million from such firms as Draper Richards, Mayfield, Alloy Ventures, Palo Alto Venture Partners, Charles Schwab and Sunrise Ventures. IronPort has raised about $95 million in VC funding from such firms as Allegis Capital, ChevronTexaco Technology Ventures, General Motors, Menlo Ventures, New Enterprise Associates and Rembrandt Venture Partners.
, a Santa Clara, Calif.-based online comparison shopping site for travel, has acquired TravelPost.com, a San Mateo, Calif.-based website for hotel reviews and ratings. No financial terms were disclosed. TravelPost has raised some seed funding from Amicus and Arba Seed Investment Group. SideStep has raised more than $17 million in VC funding from Trident Capital, PAR Capital and individual investors.
(Nasdaq: AATI) has acquired the power management analog business of China-based IPCore Technologies Corp., including subsidiary AP Semi and certain related assets. The deal is valued at $21.5 million in cash. IPCore raised $25 million in an expansion stage funding in early 2004. Backers include 3i Group, Pacific Venture Partners and Walden International. Walden had invested an undisclosed amount of seed capital in IPCore.
, a France-based provider of tech consulting and outsourcing, has agreed to acquire Kanbay International (Nasdaq: KBAY), a Rosemont, Ill.-based provider of IT services for the financial services market. The total deal is valued at $1.25 billion, with Kanbay shareholders to receive $29 per share in cash. Kanbay launched an IPO in 2004, but venture backers, such as Cross Atlantic Capital Partners, remain shareholders. —PE Week staff