Exit watch, week of Nov. 16, 2009

Logitech lassoes LifeSize for $405M

Logitech International

(Nasdaq: LOGI) has agreed to acquire LifeSize Communications, an Austin, Texas-based provider of high-definition video communication solutions. The deal is valued at $405 million in cash. LifeSize had raised about $90 million in VC funding from Austin Ventures, Redpoint Ventures, Pinnacle Ventures, Norwest Venture Partners, Sutter Hill Ventures and Tenaya Capital.

Abbott to buy rights to drug

PanGenetics BV, a Dutch antibody developer, which agreed to sell the rights to an antibody to for $170 million. PanGenetics raised about $51 million in VC funding from Index Ventures, Edmond de Rothschild Investment Partners, Biogen Idec New Ventures, Fortis Private Equity, Forbion Capital Partners and Credit Agricole Private Equity.

Google pays $750M in stock for AdMob

Google has agreed to buy AdMob, a San Mateo, Calif.-based mobile advertising marketplace, for $750 million in stock. AdMob raised more than $46 million in VC funding from Accel Partners, Sequoia Capital and DFJ Growth Fund.

Cavium buys MontaVista for $50M

Cavium Networks

(Nasdaq: CAVM) has agreed to acquire MontaVista Software Inc., a Santa Clara, Calif.-based provider of Linux operating systems and development tools. The deal is valued at $50 million, including $16 million in cash and about $34 million in Cavium stock. MontaVista has raised more than $90 million in VC funding since 1999 from Alloy Ventures, Aplix, NEC, U.S. Venture Partners and Siemens Venture Capital.

GigOptix scoops up ChipX

GigOptix Inc.

(OTCBB: GGOX) has agreed to acquire ChipX, a Santa Clara, Calif.-based provider of ASIC products. ChipX investors will receive 3.5 million common shares of GigOptix stock, currently valued at approximately $12.25 million and representing a 26% stake in GigOptix. ChipX has raised about $65 million in total VC funding, including a recap in 2004. Current backers include Elron Electronic Industries, Needham Asset Management, Newlight Associates, Parker Price Venture Capital, UMC Capital, VantagePoint Venture Partners and Wasserstein Ventures.

Heavily-backed Advent Solar sells

Applied Materials Inc. (Nasdaq: AMAT) has acquired the assets of Advent Solar Inc., an Albuquerque, N.M.-based maker of solar cells and modules. No financial terms were disclosed. Advent Solar had raised around $114 million in VC funding from @Ventures, Battery Ventures, EnerTech Capital, Firelake Capital, Globespan Capital Partners, New Mexico Co-Investment Partners, Sun Mountain Capital and ZBI Ventures.

Ingenix acquires CareMedic

Ingenix has agreed to acquire CareMedic, a St. Petersburg, Fla.-based provider of healthcare revenue management software. No financial terms were disclosed. CareMedic has raised more than $25 million in VC funding from Wellmark, CB Health Ventures, Oak Investment Partners, Pappajohn Capital and Iowa Seed Capital Corp.

EA makes play for Playfish

Electronic Arts

(Nasdaq: ERTS) has agreed to buy social gaming company Playfish Inc. for $400 million, which includes a $100 million earn-out. The company had raised $21 million in VC funding from Accel Partners and Index Ventures.

Life Technologies buys BioTrove

Life Technologies Corp.

(Nasdaq: LIFE) has agreed to acquire BioTrove Inc., a Woburn, Mass.-based maker of instruments and consumables for genomic analysis, high-throughput screening and molecular diagnostics. No financial terms were disclosed. As part of the transaction, BioTrove will spin out its RapidFire massspectrometry system into an independent company supported by existing investors. BioTrove late last year withdrew registration for a $75 million IPO after having raised over $43 million in VC funding from Catalyst Health and Technology Partners, CB Health Ventures, Vox Equity Partners, Biofrontier Partners, Fletcher Spaght Associates and Pfizer.

Amdocs acquires jNetX


(NYSE: DOX) has acquired jNetX, a Dallas-based provider of service delivery platforms. The deal was valued at $50 million, net of cash and debt. jNetX had raised a small amount of VC funding from Mint Capital.

Biomet buys Cartilix

Biomet Inc.

has acquired Cartilix Inc., a Foster City, Calif.-based developer of biomaterials to repair damaged tissues in joints. No financial terms were disclosed. Cartilix had raised $6.5 million in Series A funding led by De Novo Ventures.