Exit watch, week of June 16, 2008

FTI buys Attenex

FTI Consulting Inc.

(NYSE: FCN) has agreed to acquire Attenex Corp., a Seattle-based provider of document analysis and visualization software for electronic discovery. The deal is valued at about $88 million in cash and is expected to close next quarter. Attenex raised $5 million from Voyager Capital in 2005.

IntelliNet acquires Azaire

IntelliNet Technologies

has acquired the assets of Azaire Networks Inc., a Santa Clara, Calif.-based provider of I-WLAN solutions for mobile operators. No financial terms were disclosed. Azaire had raised more than $40 million in VC funding from such firms as Rustic Canyon Partners, Woodside Fund, Convergence Partners and Investor Growth Capital.

SanDisk buys MusicGremlin

SanDisk Corp. has agreed to buy wireless MP3 player pioneer MusicGremlin for an undisclosed sum. The New York-based company provides wireless digital audio device technology that can download music directly from subscription services while bypassing a personal computer. Since it was founded in 2002, MusicGremlin has raised more than $5 million from Allen & Co. and an undisclosed investor.

DCM to benefit from HireRight merger

DCM and Navigation Capital Partners will each gain $29 million from the merger of publicly traded HireRight Inc. with private equity-backed US Investigations Services, according to filings with the Securities and Exchange Commission. US Investigations, an employee background check company acquired by Providence Equity Partners, is merging with HireRight in a deal valued at $195 million.

Before its $65 million IPO in August, Irvine, Calif.-based HireRight, a provider of on-demand employment background and drug screening, had raised $27 million from venture investors, many of whom still hold a substantial stake in the company, according to VentureWire. In addition to DCM and Navigation Capital, Split Rock Partners owned shares in the company that would be worth $22 million when the deal closes.

Futuremed acquires Dismed for $24M
Futuremed Healthcare Income Fund has agreed to acquire venture-backed medical supply provider Dismed Inc. for more than $24 million. Anjou, Quebec-based Dismed provides medical supplies, instruments and equipment. The company raised an undisclosed amount of institutional funding through Caisse de depot et placement du Quebec, Solidarity Fund QFL and Champlain Financial Corp. in 2006.