Monday, May 23, 2005
MERGERS AND ACQUISITIONS
Motient Corp. , an Illinois company that owns and operates a wireless communications network, bought 61 percent of McLean-based TerreStar Networks Inc. 's common stock. Total consideration for the transaction was $200 million. Deutsche Bank advised Motient Corp on the transaction.
Fiserv Inc. , a Wisconsin-based technology company serving the mortgage industry, agreed to buy the assets of the McLean-based eLending U.S. operations of Emergis Inc . Total consideration for the transaction was approximately $13.75 million.
McDonald Bradley Inc. , a McLean information technology company, agreed to acquire Herndon's
Infodata Systems Inc . for $5.88 million. BB&T Capital Markets advised McDonald on the transaction.
Science Applications International Corp. completed the acquisition of Object Sciences Corp. of Alexandria. Object Sciences Corporation provides an array of information technology solutions to the federal government. Terms of the transaction were undisclosed.PRIVATE EQUITY
Deltek Systems Inc. , a private business software company in Herndon, said its controlling deLaski family sold 75 percent of the company to New Mountain
Capital of New York. An SEC filing by Deltek said the deal totaled $205 million. The deLaski family, led by chief executive Kenneth E. deLaski , retained 25 percent interest in the company.
RegeneRx Biopharmaceuticals Inc. , a Bethesda biotechnology company, sold $7.7 million of common stock and warrants to buy common stock to 23 investors, according to an SEC filing. RegeneRx will use the money for working capital. ThinkEquity
Partners of San Francisco managed the sale. The filing listed Defiante Farmaceutica Unipessoal of Portugal as a beneficial owner of the company.
Tachyon Networks Inc. , a Vienna satellite communications company, sold $7 million of mixed common and preferred stock to 15 investors, according to an amended filing with the SEC. Tachyon will use the money for working capital. CEA Capital Partners of New York, WestRiver
Capital of Redmond, Wash., BV-T
Holdings of Vienna and
Cornerstone Ventures of Broomfield, Colo., were listed among the beneficial owners of Tachyon.
Paxfire Inc. , an Internet traffic reduction company in Reston, sold $2.1 million of series A preferred stock to three investors, according to an SEC filing. Paxfire will use the money for working capital. On Demand Venture
Fund of San Francisco and three Paxfire executives were listed as beneficial owners.
Rivermine Software Inc. , a maker of telecommunications management software, sold $10 million of series B preferred stock to four investors, to be used as working capital, according to an SEC filing. McLean early stage venture fund Valhalla Partners , a venture fund affiliate of Alexandria's Columbia Capital , Massachusetts-based Longworth
Venture Partners , and a group of Rivermine executives were listed as beneficial owners.
MAP ROI Systems Inc. of Sterling, a provider of systems for tracking, qualifying for and managing government contracts and grants, sold in $3.76 million series A-2 preferred stock and warrants to buy stock to 4 investors, according to an SEC filing. The money will be used for working capital. Bethesda's
Novak Biddle Venture Partners , Bethesda's Inflection Point
Ventures , and North Carolina's
Aurora Ventures were listed among the beneficial owners. MAP ROI in March acquired
Privia of San Mateo, Calif
Approva Corp. , a Vienna applications-management software company, sold $15.3 million of series C preferred stock to 11 investors, according to an SEC filing. Novak Biddle , Reston's New
Enterprise Associates , Columbia
Capital and Menlo Park, Calif.-base Sierra Ventures are listed as beneficial owners.
MaxCyte Inc. , a Gaithersburg biotechnology company, sold $3.4 million of preferred stock to 13 investors, according to an SEC filing. North Carolina's
Intersouth Partners , Gaithersburg biotech company EntreMed
Inc. and Alabama's Harbert
Venture Partners were listed as beneficial owners.
Southern National Bancorp of Virginia
Inc. , a holding company for a southern Virginia bank, finished raising $35 million by selling 3.5 million shares to 219 investors. The company was formed by Georgia S. Derrico and Roderick D. Porter , who last year sold Southern Financial Bancorp Inc., a Warrenton, Va., bank holding company, to Provident Bankshares.
Federal City Bancorp Inc. , a District holding company, sold $11.1 million of common stock to 31 investors, according to an SEC filing. Federal City in April bought Indiana thrift Assurance
Partners Bank , which was owned by the National Association of
Mutual Insurance Companies.
Datatel Holdings Inc. , a Fairfax software provider to higher education institutions, sold $130.6 million of common and preferred stock to 23 investors as part of its management-led buyout. Founders Ken Kendrick and Tom Davidson accepted the offer from the company's executive leaders, who had backing from Thoma Cressey Equity Partners of San Francisco, JP Morgan U.S.
Corporate Finance Institutional
Investors II and Trident Capital of Palo Alto, Calif.PUBLIC EQUITY
PRA International Inc. , a McLean drug tester, filed a prospectus with the SEC to sell 6 million shares held by its existing shareholders, led by San Francisco's Genstar Capital , which owns 40 percent currently. Genstar bought PRA in 2001 for about $100 million, and sold $42.4 million of PRA stock in an initial public stock offering last year. The 6 million shares (not including an extra 900,000 shares that could be offered if lead underwriters Credit Suisse
First Boston and Bear, Stearns &
Co. have the demand) are worth about $150 million at PRA's Friday closing stock price.
Compiled by Terence O'Hara and Bloomberg News.