Qualcomm, uTest, Progress, & Others Inking Boston Deals This Week
Acquisitions and big venture financings made up the deals news for New England-area software and IT companies in the past week.
—Retroficiency, a Boston-based maker of energy efficiency software, raised $3.3 million in a funding round from Point Judith Capital and acquired the energy efficiency division of one of the venture firm’s other portfolio companies, Nexamp. Retroficiency’s technology allows customers like commercial property owners to evaluate the cost-energy impact of making building upgrades.
—Andover, MA-based Pixtronix, a maker of low-power displays, was acquired by San Diego-based Qualcomm (NASDAQ: QCOM). Exact details weren’t disclosed, but Scott Kirsner’s Innovation Economy blog reported Qualcomm paid somewhere in the range of $175-200 million, according to sources close to the deal.
—Southborough, MA-based uTest raised $17 million in a Series D financing, to put toward expanding its testing platform for software applications. The deal was led by QuestMark Partners, and included existing uTest investors Scale Venture Partners, Longworth Venture Partners, Egan-Managed Capital, and Mesco.
—More seed-stage deals could come from BzzAgent founder Dave Balter, who joined Boston Seed Capital as a venture advisor. The one-year-old, early-stage investment firm is run by Nicole Stata, founder and former CEO of human-resources software firm Deploy Solutions.
—West Coast venture firm Andreessen Horowitz led a $33.5 million investment in Waltham, MA-based Actifio, a maker of data management software products for big companies. Previous investors North Bridge Venture Partners, Greylock Partners, and Advanced Technology Ventures were also part of the deal.
—Bedford, MA-based Progress Software, a company focused on helping organizations become more “operationally responsive,” said it has acquired decision management software maker Corticon, based in Redwood City, CA. And just this week, Progress announced the hire of its new CEO, Jay Bhatt.