Exit watch, Sept. 17, 2007

Merck completes NovaCardia buyout

Merck & Co.

(NYSE: MRK) has completed its acquisition of NovaCardia Inc., a San Diego-based drug company focused on cardiovascular disease. The deal was valued at about $350 million in Merck stock, plus the value of NovaCardia’s cash on hand. NovaCardia had raised about $88 million in VC funding since its 2001 formation from such firms as Domain Associates (which owns a 24.9% stake), Forward Ventures (15.6%), InterWest Partners (10.4%), Skyline Venture Partners (15.3%), Versant Ventures (13.6%) and Montreaux Equity Partners (12.5%).

ChannelAdvisor dials up rival Marketworks

ChannelAdvisor Corp.

, a Morrisville, N.C.-based provider of channel management solutions, has acquired competitor Marketworks Inc. of Atlanta. No financial terms were disclosed. Marketworks had raised about $17.5 million in VC funding from Crosslink Capital, First Data Corp., Imlay Investments, Council Ventures and Atlanta Technology Angels. ChannelAdvisor has raised more than $64 million in total VC funding from Advanced Technology Ventures, Kodiak Venture Partners, New Enterprise Associates, TriState Investment Group, eBay Inc., Atlantis Group, Montagu Newhall Associates and Southern Capitol Ventures.

CBS has eyes for SignStorey

CBS Corp.

has agreed to acquire SignStorey Inc., a Fairfield, Conn.-based provider of in-store media networks for the grocery industry, for almost $72 million in cash. The deal is expected to close later this quarter, with SignStorey to be renamed CBS OuterNet. SignStorey raised about $14 million from Golden Gate Capital, Next Generation Ventures and other investors.

Publishing company buys iUniverse

Author Solutions

(a.k.a. AuthorHouse), a Bloomington, Ind.-based self-publishing company, has acquired rival iUniverse for an undisclosed amount. iUniverse had raised more than $39 million in VC funding from such firms as Warburg Pincus, including a 2001 infusion at a post-money valuation of about $131 million (Warburg later sold its position back to company management). Author Solutions is a portfolio company of Bertram Capital.

Offermatica sold for $65M

Omniture Inc.

(Nasdaq: OMTR) has acquired Offermatica Corp., a San Francisco-based provider of software to test, measure and optimize online marketing and advertising campaigns. The deal was valued at $65 million. Offermatica shareholders had include Baker Capital, Accel Partners and Meritech Capital Partners.

Telanetix buys VoIP company

Telanetix Inc. (OTC BB: TNXI) has agreed to acquire AccessLine Communications, a Bellevue, Wash.-based provider of hosted VoIP services to small and mid-sized businesses. The deal is valued at about $35 million in cash and stock. AccessLine had raised more than $126 million in total VC funding since 1994 from such firms as Mellon Ventures, Gabriel Venture Partners, Goldman Sachs, Alexander Hutton Venture Partners and Venrock.

Digital River buys Netgiro

Digital River Inc.

(Nasdaq: DRIV) has acquired Netgiro Systems AB, a Sweden-based provider of global card payment services to e-merchants. The deal was valued at about $27 million in cash. Netgiro had raised an undisclosed amount of VC funding from Nordic Venture Partners.

Melita dials up 3G Telecom

Melita Cable PLC,

a Malta-based communications provider recently acquired by GMT Communications Partners, has agreed to acquire 3G Telecommunications Ltd., a portfolio company of M/C Venture Partners. The deal gives M/C Venture Partners a minority ownership position in Melita.

GTCR sells stake in netASPx

GTCR Golder Rauner

has agreed to sell its large minority stake in netASPx, a Herndon, Va.-based provider of applications management services, to NaviSite Inc. (Nasdaq: NAVI). The deal is valued at more than $40 million, including $15.5 million in cash and $25 million in convertible preferred stock. GTCR had invested about $100 million in netASPx in several rounds of financing.

Claremont Creek sells portfolio company

Moneygram International Inc.

(NYSE: MGI) has agreed to acquire PropertyBridge Inc., an Oakland, Calif.-based provider of electronic payment processing services for the real estate management industry. No financial terms were disclosed. PropertyBridge had raised about $2 million in a 2006 venture round led by Claremont Creek Ventures.