Exit watch, week of May 24, 2010

Yahoo buys Associated Content

Yahoo has acquired Associated Content, a Denver-based online publishing company focused on professional and user-generated content. The deal reportedly is valued at $90 million, plus a $10 million earn-out. Associated Content had raised a little more than $21 million in VC funding from Canaan Partners and Softbank Capital. Angel backers included Ron Conway and Tim Armstrong. The most recent infusion was a $6 million Series C round last year at a pre-money valuation just shy of $40 million.

Yahoo’s financial offer was attractive to both employees and investors, said Warren Lee, a venture partner at Canaan who will step down from the board of Associated Content as a result of the acquisition.

“Canaan’s been an investor in the company for three years, and people have constantly been talking about wanting to acquire it. It was kind of annoying—in a good way—and we kept having to fend people off,” Lee said. “The company continued to grow and some of us wanted to keep building it as a stand-alone, but we decided to take a look at the bunch of strategic acquirers who were buzzing around.” —Dan Primack

Ace acquires Axis for $35MAce Technology, a South Korean wireless network equipment vendor, has acquired Axis Network Technology, a U.K.-based provider of re-configurable digital radio platforms, for $35 million. Axis had raised more than $4 million from Bessemer Venture Partners.

Travelport buys Sprice.comTravelport, a provider of global distribution system, has acquired Sprice.com, a Singapore-based hotel and travel search engine. No financial terms were disclosed. Travelport is a portfolio company of The Blackstone Group, while Sprice.com had raised VC funding from Sofinnova Partners and Walden International.

CDC scoops up TradeBeamCDC Software Corp. (Nasdaq: CDCS) has acquired TradeBeam Holdings Inc., a San Mateo, Calif.-based provider of on-demand global trade management software. No financial terms were disclosed. TradeBeam had raised about $57.5 million in VC funding from Carlyle Venture Partners, Enterprise Partners Venture Capital, Sigma Partners and The Sprout Group.

Bitstream buys Press-sense assetsBitstream Inc. (Nasdaq: BITS) has agreed to acquire the assets of Press-sense Ltd., an Israel-based provider of business flow automation systems. The deal is valued at $6.5 million in cash and the assumption of certain liabilities. Press-sense has raised VC funding from Evergreen Ventures.

RedPrairie makes play for SmartTurn

RedPrairie Holding Inc., a Waukesha, Wis.-based provider of inventory, warehouse, transportation and workforce management systems has acquired SmartTurn Inc., an Oakland, Calif.-based provider of on-demand inventory and WMS. No financial terms were disclosed. SmartTurn has raised about $5 million from Emergence Capital Partners and New Enterprise Associates.

Harris acquires SignaCertHarris Corp. (NYSE: HRS) has agreed to acquire SignaCert Inc., a Portland, Ore.-based provider of cyber solutions for government and commercial customers. No financial terms were disclosed. SignaCert has raised just over $27 million in VC funding from DCM, Garage Technology Ventures, Intel Capital, PacRim Venture Partners and SmartForest Ventures.

Lonza completes MODA purchaseLonza Group Ltd. last week closed its previously announced acquisition of MODA Technology Partners, a Wayne, Pa.-based provider of paperless quality control solutions. MODA had raised more than $6 million in VC funding from Ben Franklin Technology Partners and Osage Investments.

Navarre takes on PunchNavarre Corp. (Nasdaq: NAVR) has acquired the assets of Punch Software, a Kansas City, Mo.-based provider of home design and CAD software solutions. No financial terms were disclosed. Punch Software was a portfolio company of Insight Venture Partners.

QCSA buys Salvage DirectQCSA Holdings, a vehicle remarketing and total loss claims management company, has acquired Salvage Direct, a salvage re-marketing company. No financial terms were disclosed. QCSA is owned by private equity firm Kinderhook Industries, while Salvage Direct was backed by SJF Ventures.