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The biggest deal of the day was Microsoft announcing it will acquire PlaceWare, a provider of Web conferencing services for Internet-based business communications that raised $90 million, for an undisclosed amount. The company mulled a $50-million IPO last year, but market conditions forced it to pulled the plug on the offering. Microsoft will continue PlaceWare's service business, and many of PlaceWare's key employees will remain. PlaceWare generated about $70 million in revenues last year and was near breakeven. Investors in the company include 3i Technology Partners, Government Investment Corp., Apex Investment Partners, Bank of America Ventures, Bay Partners, Gabriel Venture Partners, InterWest Partners, Invesco, and Kinetic Ventures.
In funding news, nine companies reported rasing $70 million overall, with BTI Photonics, a provider optical transport link subsystems, reporting a $10.4-million Series B led by VenGrowth Capital Partners. BCE Capital, Kodiak Venture Partners, Lucent Venture Partners, and Primaxis Technology Ventures also participated.
On the life sciences front, Percutaneous Valve Technologies, a medical device technology firm, announced capping a $14-million Series B led by Medtronic with Boston Scientific, Oxford Bioscience Partners, and Medica Venture Partners also chipping in. The company said it had originally sought $10 million, but increased the size of the round because of interest from investors.
It wasn't all good news for the hot sector, however, as Metabolex, a biopharmaceutical company that researches and develops insulin sensitizer drugs for diabetes, said CEO Thomas Glaze has been replaced by president and COO Harold Van Wart and also announced laying off about 20% of its employees, trimming its staff from 78 to 62. The company has raised $77.5 million to date from Abbot Labs, Bay City Capital, Charter Ventures, John Hancock, Lombard Odier, Pfizer, Pictet, and Wanger Asset Management. - By John Fuller
Microsoft Buys Web Conferencing Services Firm PlaceWare
REMOND, WASH. -- Software firm Microsoft said it will acquire PlaceWare, a provider of Web conferencing services for Internet-based business communications. Terms of the deal were not disclosed. [full story]
http://www.microsoft.com
http://www.placeware.com
Percutaneous Valve Technologies Gets $14M Series B
FORT LEE, N.J. -- Percutaneous Valve Technologies, a medical device technology firm, announced that it has completed a $14-million Series B financing [full story]
http://www.pvtechnologies.com
Metabolex Names New CEO, Cuts Staff By 20%
HAYWARD, CALIF. -- Metabolex, a biopharmaceutical company that researches and develops insulin sensitizer drugs for diabetes, said CEO Thomas Glaze has been replaced by president and COO Harold Van Wart. Mr. Glaze remains as vice chairman. Metabolex also announced laying off about 20% of its employees, trimming its staff from 78 to 62. [full story]
http://www.metabolex.com
BTI Photonics Raises $10.4 Million Series B
OTTAWA -- BTI Photonics, a provider optical transport link subsystems, said it has raised $10.4 million in Series B financing. [full story]
http://www.btiphotonics.com
ScriptLogic Gets $8M in Series A from Insight Venture Partners
POMPANO BEACH, FLA. -- ScriptLogic, a provider of desktop administration software for Windows-based networks, said it has closed its Series A round of funding with $8 million from Insight Venture Partners. [full story]
http://www.scriptlogic.com
Wireless Infrastructure Firm Pronto Secures $5M in First Round
PLEASANTON, CALIF. -- Pronto Networks, provider of wireless infrastructure hardware and software, as well as back-end support for Wi-Fi hot spots, has secured $5 million in its first round of funding. [full story]
http://www.prontonetworks.com
Shoreline Raises $10.75-Million Round
SUNNYVALE, CALIF. -- Shoreline Communications, a developer of enterprise-class IP voice communication systems, is expected to announce raising a $10.75-million round of financing. [full story]
http://www.goshoreline.com
Q1 Labs Lands $3.3 Million in First Round
ATLANTA -- Q1 Labs, a provider network security and misuse management systems, said it raised $3.3 million in its first round of funding. [full story]
http://www.q1labs.com
Hipbone Lands Funding from Trans Cosmos
SAN CARLOS, CALIF. -- Hipbone, a provider of customer interaction services for online businesses, is expected to announce raising an undisclosed amount of funding. [full story]
http://www.hipbone.com
Voyant Technologies Acquires Octave Communications
WESTMINSTER, COLO. -- Voyant Technologies, a provider of voice conferencing and collaboration services, said it acquired Octave Communications, a Nashua, N.H.-based provider of conferencing equipment, in an all-stock transaction. [full story]
http://www.octavecomm.com
http://www.voyanttech.com
Digiquant Names Jorgen Weber CEO, Loek van den Boog Chairman
ROSKILDE, DENMARK -- Digiquant, a supplier of software infrastructure that supports the delivery of services over advanced networks, announced its appointment of Jorgen Weber as CEO and Loek van den Boog as chairman of the board. [full story]
http://www.digiquant.com
Former Jafco Professionals Launch Globespan Capital Partners
BOSTON -- Jafco Ventures said former members of its management team have launched Globespan Capital Partners, an independent venture capital firm focusing on information technology investments. [full story]
http://www.jafco.com
http://www.globespancapital.com
In funding news, nine companies reported rasing $70 million overall, with BTI Photonics, a provider optical transport link subsystems, reporting a $10.4-million Series B led by VenGrowth Capital Partners. BCE Capital, Kodiak Venture Partners, Lucent Venture Partners, and Primaxis Technology Ventures also participated.
On the life sciences front, Percutaneous Valve Technologies, a medical device technology firm, announced capping a $14-million Series B led by Medtronic with Boston Scientific, Oxford Bioscience Partners, and Medica Venture Partners also chipping in. The company said it had originally sought $10 million, but increased the size of the round because of interest from investors.
It wasn't all good news for the hot sector, however, as Metabolex, a biopharmaceutical company that researches and develops insulin sensitizer drugs for diabetes, said CEO Thomas Glaze has been replaced by president and COO Harold Van Wart and also announced laying off about 20% of its employees, trimming its staff from 78 to 62. The company has raised $77.5 million to date from Abbot Labs, Bay City Capital, Charter Ventures, John Hancock, Lombard Odier, Pfizer, Pictet, and Wanger Asset Management. - By John Fuller
Microsoft Buys Web Conferencing Services Firm PlaceWare
REMOND, WASH. -- Software firm Microsoft said it will acquire PlaceWare, a provider of Web conferencing services for Internet-based business communications. Terms of the deal were not disclosed. [full story]
http://www.microsoft.com
http://www.placeware.com
Percutaneous Valve Technologies Gets $14M Series B
FORT LEE, N.J. -- Percutaneous Valve Technologies, a medical device technology firm, announced that it has completed a $14-million Series B financing [full story]
http://www.pvtechnologies.com
Metabolex Names New CEO, Cuts Staff By 20%
HAYWARD, CALIF. -- Metabolex, a biopharmaceutical company that researches and develops insulin sensitizer drugs for diabetes, said CEO Thomas Glaze has been replaced by president and COO Harold Van Wart. Mr. Glaze remains as vice chairman. Metabolex also announced laying off about 20% of its employees, trimming its staff from 78 to 62. [full story]
http://www.metabolex.com
BTI Photonics Raises $10.4 Million Series B
OTTAWA -- BTI Photonics, a provider optical transport link subsystems, said it has raised $10.4 million in Series B financing. [full story]
http://www.btiphotonics.com
ScriptLogic Gets $8M in Series A from Insight Venture Partners
POMPANO BEACH, FLA. -- ScriptLogic, a provider of desktop administration software for Windows-based networks, said it has closed its Series A round of funding with $8 million from Insight Venture Partners. [full story]
http://www.scriptlogic.com
Wireless Infrastructure Firm Pronto Secures $5M in First Round
PLEASANTON, CALIF. -- Pronto Networks, provider of wireless infrastructure hardware and software, as well as back-end support for Wi-Fi hot spots, has secured $5 million in its first round of funding. [full story]
http://www.prontonetworks.com
Shoreline Raises $10.75-Million Round
SUNNYVALE, CALIF. -- Shoreline Communications, a developer of enterprise-class IP voice communication systems, is expected to announce raising a $10.75-million round of financing. [full story]
http://www.goshoreline.com
Q1 Labs Lands $3.3 Million in First Round
ATLANTA -- Q1 Labs, a provider network security and misuse management systems, said it raised $3.3 million in its first round of funding. [full story]
http://www.q1labs.com
Hipbone Lands Funding from Trans Cosmos
SAN CARLOS, CALIF. -- Hipbone, a provider of customer interaction services for online businesses, is expected to announce raising an undisclosed amount of funding. [full story]
http://www.hipbone.com
Voyant Technologies Acquires Octave Communications
WESTMINSTER, COLO. -- Voyant Technologies, a provider of voice conferencing and collaboration services, said it acquired Octave Communications, a Nashua, N.H.-based provider of conferencing equipment, in an all-stock transaction. [full story]
http://www.octavecomm.com
http://www.voyanttech.com
Digiquant Names Jorgen Weber CEO, Loek van den Boog Chairman
ROSKILDE, DENMARK -- Digiquant, a supplier of software infrastructure that supports the delivery of services over advanced networks, announced its appointment of Jorgen Weber as CEO and Loek van den Boog as chairman of the board. [full story]
http://www.digiquant.com
Former Jafco Professionals Launch Globespan Capital Partners
BOSTON -- Jafco Ventures said former members of its management team have launched Globespan Capital Partners, an independent venture capital firm focusing on information technology investments. [full story]
http://www.jafco.com
http://www.globespancapital.com
