Exit watch, week of Oct. 8, 2007

Claremont Creek realizes first exit with PropertyBridge saleMoneyGram International Inc. (NYSE: MGI) announced that it has agreed to acquire PropertyBridge Inc., an Oakland, Calif.-based provider of electronic payment services to the residential property management industry. Financial terms were not disclosed.

The sale represents the first liquidity event for Claremont Creek Ventures. The Oakland-based venture firm, which was founded in June 2005, led a $2 million Series A round in PropertyBridge in early 2006.

Claremont says that the acquisition brought the firm a 5x return.

Claremont began working with PropertyBridge after its co-founders presented at Keiretsu Forum, an angel investment network.

See Q&A with Claremont Managing Director John Steuart, page 3.

AT&T buys Interwise


has agreed to acquire Interwise Inc., a Cambridge, Mass.-based provider of voice, online and video conferencing technologies. The deal is valued at about $121 million in cash. Interwise has raised nearly $90 million in VC funding since 2000 from such firms as Lazard Technology Partners, Wall Street Technology Partners, Leeds Equity, GIMV and STI Ventures.

Microsoft scoops up Jellyfish

Microsoft Corp. (Nasdaq: MSFT) last week acquired Jellyfish.com, a Madison, Wis.-based comparison shopping website. No financial terms were disclosed. Jellyfish had raised about $6 million in VC funding from such firms as Kegonsa Capital Partners and Clyde Street Investments.

PE firm buys VC-backed Printronix

Vector Capital

has agreed to acquire Printronix Inc. (Nasdaq: PTNX), an Irvine, Calif.-based maker of integrated enterprise printing solutions for the supply chain.

The San Francisco-based PE firm agreed to pay $108 million for the acquisition, with Printronix stockholders to receive $16 per share.

Printronix CEO Robert Kleist and other members of senior management are expected to hold a 9.9% ownership position after the transaction is completed.

RealNetworks acquires Game Trust

RealNetworks Inc.

(Nasdaq: RNWK) has agreed to acquire Game Trust Inc., a New York-based developer of community and commerce capabilities within games. Financial terms were not disclosed.

Game Trust, which has offices in Denmark, has raised $16 million in VC funding from Draper Fisher Jurvetson, CSK Venture Capital, Intel Capital, New Jersey Technology Council, Silicon Alley Venture Partners, TopSpin Partners and Patriot Capital Funding.

Health benefits managers merge

Humana Inc.

(NYSE: HUM) has completed its acquisition of CompBenefits Corp., a Roswell, Ga.-based provider of dental and vision benefit plans, for $360 million in cash. CompBenefits had filed for a $150 million IPO last December, and listed as shareholders TA Associates (24.05%), GTCR (19.25%), Nautic Partners (11.49%) and Wolverine Investment (10.42%).

The firms invested nearly $47 in CompBenefits in July 2000 in a buyout transaction that had a post-money valuation of nearly $190 million.