Exit watch, week of Nov. 5, 2007

Cisco acquires Securent

San Jose, Calif.-based network equipment maker Cisco Systems Inc. (Nasdaq: CSCO) has agreed to acquire Securent Inc. for about $100 million in cash and assumed options. Securent is a Mountain View, Calif.-based provider of entitlement management software. It raised a $6 million Series A round last year from Greylock Partners and Onset Ventures. The acquisition, which is expected to close in the second quarter of fiscal year 2008, comes a week after Cisco agreed to buy VC-backed Navini Networks for $330 million.

TA sells Alere Medical

TA Associates has agreed to sell Alere Medical Inc., a Reno, Nev.-based provider of disease management services to group health plans, to Inverness Medical Innovations (AMEX: IMA). The deal is valued at $302 million, including $125 million in cash and $177 million in Inverness common stock. It comes just six months after TA acquired Alere for $175 million from a syndicate of venture capital firms, and is expected to close by year-end.

Beyond buys Intent MediaWorks

Beyond Media of Pensacola, Fla. has acquired Intent MediaWorks Inc., an Atlanta-based digital media distribution company. No financial terms were disclosed. Intent MediaWorks has raised more than $11 million in VC funding from such firms as Allen & Co., SoftBank Capital, Bertelsmann Capital Ventures, Greycroft Partners, Menemsha Capital Partners and IMW Partners.

EMC scoops up Voyence

EMC Corp. (NYSE: EMC) has acquired Voyence Inc., a Richardson, Texas-based provider of network configuration and change management solutions. No financial terms were disclosed. Voyence had raised nearly $53 million in total VC funding since 2000 from such firms as HO2 Partners, BancBoston Ventures, Canaan Partners, Hewlett-Packard Co., InterWest Partners, Sevin Rosen Funds and StarTech Early Ventures.

Battelle acquires assets of Ventaira

Battelle has agreed to acquire the assets of Ventaira Pharmaceuticals Inc., a Columbus, Ohio-based developer of an inhaled drug delivery system and reformed drugs for the system. The deal is also serving as a shutdown for Ventaira, which has now ceased its clinical development and device development work. No financial terms were disclosed. Ventaira had raised more than $47 million in VC funding since 2003 from such firms as TL Ventures, PA Early Stage, Battelle Ventures, Merlin Biosciences, Fletcher Spaght Associates and Reservoir Venture Partners.

Iron Mountain nabs Stratify

Iron Mountain Inc. (NYSE: IRM) has agreed to acquire Stratify Inc. for about $158 million in cash. Stratify is a Mountain View, Calif.-based provider of electronic discovery services for the legal market. It has raised just over $40 million since 1999, when it was known as Purple Yogi. This includes Series C and Series D infusions in 2000 at a post-money valuation of about $65 million and $113 million, respectively. VC backers include Intel Capital, Mobius Venture Capital, In-Q-Tel and Infosys Technologies Ltd.

Kronos buys Deploy

Kronos Inc. has acquired Deploy Solutions Inc., a Newton, Mass.-based provider of workforce management enterprise software. No financial terms were disclosed. Chelmsford, Mass.-based Kronos was taken private earlier this year by Hellman & Friedman and JMI Equity, in a $1.8 billion transaction. Deploy Solutions had raised $36 million in VC funding from such backers as Stata Venture Fund.

Boston Ventures sells cable TV provider

Boston Ventures has agreed to sell Vista III Media, an Atlanta-based regional provider of cable television, high-speed Internet and telephony services, to Harron Communications LP, a Frazer, Penn.-based multi-system cable and communications services company doing business as MetroCast Communications. No financial terms were disclosed. Boston Ventures also is an investor in Harron.

EnerNOC sets plans for secondary offering

EnerNOC Inc. (Nasdaq: ENOC), a Boston-based provider of demand response and energy management solutions, has filed for a $205 million secondary public offering. The company plans to price 4 million common shares, with 3.2 million of them coming from selling shareholders. No additional information on the sellers was given, but major EnerNOC holders include Foundation Capital, Draper Fisher Jurvetson, Braemar Energy Ventures and DFJ New England. EnerNOC raised $97.5 million in its IPO in May.