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RECENT DEALS

Monday, March 14, 2005; Page E09

MERGERS AND ACQUISITIONS

Gilat Satellite Networks Ltd.'s subsidiary Spacenet Inc. acquired all the outstanding shares of StarBand Communications Inc. that were not already owned by Gilat. StarBand will be merged into Spacenet. Both companies are based in McLean and provide broadband satellite data service, including Internet access. Terms were not disclosed.

PharmAthene Inc., an Annapolis biotechnology company that specializes in biodefense therapeutics, acquired operations and assets related to Protexia, a treatment for people affected by chemical nerve agent attacks, from Canadian drug developer Nexia Biotechnologies Inc. Terms were not disclosed.

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PRIVATE EQUITY

Anystream Inc., a Sterling software company, sold $8 million of Series B convertible preferred stock to three investors, according to a filing with the Securities and Exchange Commission. SCP Private Equity Partners II LP of Pennsylvania, Softbank Capital Technology Fund III LP of Massachusetts, and Falcon Private Equity LP of New York were listed as beneficial owners. Anystream will use a small portion of the proceeds to repay debt, but most will be used for working capital.

Accolade Partners III LP, a private equity fund in Washington, raised $47.5 million from 18 investors, according to an SEC filing. Accolade Partners, which is run by former Alex. Brown & Sons managing director Joelle Kayden, invests primarily in other venture capital and buyout funds.

SmartBrief Inc., a Washington company that provides "industry-oriented content" via e-mails for Washington trade associations, sold $875,000 of common stock to nine investors, according to an SEC filing. The company's beneficial owners are listed as Thomas E. Wheeler, a former wireless phone industry executive and trade association leader who is SmartBrief's chairman, and Audre Capital Partners of Washington.

Allied Capital Corp. of Washington paid $15 million to buy subordinated debt with stock warrants to recapitalize Tradesmen International Inc., an Ohioprovider of skilled construction workers.

Compiled by Terence O'Hara and Bloomberg News.


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