Each quarter of 2009 brought more news of reduced fundraising in the global Silicon Valley, and the liquidity drought became so acute that parallel stock exchanges self-organized into official companies. But the traditional exit market didn't run completely dry, and several companies managed to pull off impressive deals.
A213's rocking IPO revealed pent up demand for quality tech companies in the public markets, and acquisitions like Mint's $170 million windfall just three years after birth showed that high-growth marketplace can still generate companies too tempting for big corporations to resist. In anticipation of AlwaysOn's Venture Summit Silicon Valley this week, I worked with Morgan Stanley, VentureDeal and the 451 Group to put together the following list of top venture-backed acquisitions and IPOs of the last 12 months, a testament to the resilience of the innovation economy.
IPOs
A123 Systems
Opening Market Cap: $1,382.5M
Sector: Greentech
Lead VC Firms: North Bridge Venture Partners, GE
Avago Technologies
Opening Market Cap: $3,532.99M
Sector: Semiconductors
Lead VC Firms: KKR, Silver Lake Partners
Bridgepoint Education
Opening Market Cap: $558.57M
Sector: Education
Lead VC Firms: Warburg Pincus
CDC Software
Opening Market Cap: $348M
Sector: Enterprise software
Changyou.com
Opening Market Cap: $820M
Sector: Gaming
DigitalGlobe
Opening Market Cap: $852.55M
Sector: Digital media
Lead VC Firms: Morgan Stanley Principal Investments, BeachPoint Capital, Hitachi Software, Ball Technology Holding
Emdeon
Opening Market Cap: $1,780.19M
Sector: Healthcare services
Lead VC Firms: General Atlantic, Hellman & Friedman
Grand Canyon Education
Opening Market Cap: $543.68M
Sector: Online Education
LogMeIn
Opening Market Cap: $354.13M
Sector: Enterprise software
Lead VC Firms: Prism Venture Partners, Polaris Venture Partners, Integral Capital Partners, Intel Capital
MediData Solutions
Opening Market Cap: $186.69M
Sector: Life sciences
Lead VC Firms: Insight Venture Partners, Milestone Venture Partners, Stonehenge Capital
OpenTable
Opening Market Cap: $441.09M
Sector: Consumer Internet
Lead VC Firms: Benchmark Capital, Impact Venture Partners, IAC, Integral Capital
Rosetta Stone
Opening Market Cap: $365.66M
Sector: Education
Lead VC Firms: Norwest Partners
Shanda Games
Opening Market Cap: $3,600.54M
Sector: Gaming
SolarWinds
Opening Market Cap: $802.33M
Sector: Software
Lead VC Firms: Bain Capital Ventures, Insight Ventures, Austin Ventures
Vitacost.com
Opening Market Cap: $329.46M
Sector: Consumer
M&A
Infrastructure
Alpha Innotech
Deal Amount: $17.9M
Sector Focus: IT
AlterPoint
Deal Amount: Undisclosed
Sector Focus: Networking
Investors Include: Austin Ventures, JK&B Capital, Palomar Ventures
Atrua Technologies
Deal Amount: $4.9M
Sector Focus: Components
Investors Include: BlueRun Ventures, Osprey Ventures, Eastven Venture Partners, NeoCarta Ventures, Intel Capital, Nokia Growth
Axsun Technologies
Deal Amount: $21.5M
Sector Focus: Components
Investors Include: Bessemer Venture Partners, Electro Scientific Industries, Millennium Technology Ventures, Prism VentureWorks, VantagePoint Venture Partners, Bridge Bank
Covergence
Deal Amount: $22.8M
Sector Focus: IT
Investors Include: Highland Capital Partners, Globespan Capital Partners, North Bridge Venture Partners
Fabrik
Deal Amount: Undisclosed
Sector Focus: Financial services
Investors Include: 3i Group, Velocity Interactive Group, Intel Capital
Haute Secure
Deal Amount: Undisclosed
Sector Focus: Security
Investors Include: Baseline Ventures, Sherpalo Ventures
Intellon
Deal Amount: $244M
Sector Focus: Semiconductors
Investors Include: Goldman Sachs, Summerhill Venture Partners, Comcast Interactive Capital, Duchossois Technology Partners, EnerTech Capital, Fidelity Ventures, Intel Capital, Liberty Venture Partners, Motorola Ventures, UMC Capital, Samsung Ventures, TL Ventures, Philips Electronics Ventures
Kazeon Systems
Deal Amount: Undisclosed
Sector Focus: IT
Investors Include: JK&B Capital, Clearstone Venture Partners, Menlo Ventures, Redpoint Ventures, Focus Ventures, Goldman Sachs
Luminary Micro
Deal Amount: Undisclosed
Sector Focus: Components
Investors Include: Adams Street Partners, ATA Ventures, New Enterprise Associates
Mazu Networks
Deal Amount: $25M
Sector Focus: Networking
Investors Include: StarVest Partners, Symantec, Greylock Partners, Matrix Partners, Pilot House Ventures Group
MI5 Networks
Deal Amount: Undisclosed
Sector Focus: Security
Investors Include: Band of Angels, Labrador Ventures, First Round Capital
Mobilygen
Deal Amount: Undisclosed
Sector Focus: Semiconductors
Investors Include: Cardinal Venture Capital, Kleiner Perkins Caufield & Byers, Lehman Brothers Venture Partners, Redpoint Ventures, VentureTech Alliance
MX Logic
Deal Amount: $170M
Sector Focus: Security
Investors Include: Adams Street Partners, Axiom Venture Partners, Grayhawk Venture Partners, River Cities Capital Funds, UV Partners, Vista Ventures, Orix Venture Finance
NetEffect
Deal Amount: Undisclosed
Sector Focus: Semiconductors
Investors Include: Hercules Technology Growth Capital, Austin Ventures, Granite Ventures, Infinity Capital, Jatotech Ventures, TI Ventures, TL Ventures, Duchossois Technology Partners, Infinity Venture Capital Fund
NetQoS
Deal Amount: $200M
Sector Focus: Networking
NetXen
Deal Amount: $21M
Sector Focus: Semiconductors
Investors Include: Accel Partners, Benchmark Capital, Integral Capital Partners, DAG Ventures
Omniture
Deal Amount: $1.8B
Sector Focus: IT
Investors Include: Scale Venture Partners, Hummer Winblad Venture Partners, Institutional Venture Partners
ONStor
Deal Amount: $25M
Sector Focus: Storage and networking
Investors Include: Mayfield Fund, Foundation Capital, Sand Hill Capital, Velocity Interactive Group, Worldview Technology Partners
Ounce Labs
Deal Amount: Undisclosed
Sector Focus: IT
Investors Include: Greylock Partners, Commonwealth Capital Ventures, Bluestream Ventures
Pure Digital Technologies
Deal Amount: $590M
Sector Focus: Electronics
Investors Include: AllianceBernstein, Morgan Stanley Venture Partners, Sequoia Capital, Benchmark Capital, Focus Ventures, Crescendo Ventures, Steamboat Ventures, VantagePoint Venture Partners, Samsung Ventures, Focus Enterprises, VantagePoint Venture Partners
Quellan
Deal Amount: $15M
Sector Focus: Semiconductors
Investors Include: W.L. Gore & Associates, Harbinger Venture Management, JAFCO Ventures, Menlo Ventures, Samsung Ventures, VentureTech Alliance, ITU Ventures
reCAPTCHA
Deal Amount: Undisclosed
Sector Focus: Security
SiCortex
Deal Amount: Undisclosed
Sector Focus: IT
Investors Include: Chevron Technology Ventures, Flagship Ventures, Polaris Venture Partners, JK&B Capital, Prism VentureWorks, Hercules Technology Growth Capital
Solidcore Systems
Deal Amount: $33M
Sector Focus: IT
Investors Include: Jafco Ventures, Matrix Partners, Menlo Ventures, Sevin Rosen Funds
Tizor
Deal Amount: $3.1M
Sector Focus: Networking
Investors Include: CommonAngels, Hummer Winblad Venture Partners, Longworth Venture Partners, Masthead Venture Partners, Navigator Technology Ventures
Internet
Ad Infuse
Deal Amount: Undisclosed
Sector Focus: Digital media
Investors Include: SoftBank Capital, Velocity Interactive Group, Storm Ventures
Admob
Deal Amount: $740 Million
Sector: Online Advertising
Investors Include: Sequoia Capital, Accel Partners, Draper Fisher Jurvetson, Northgate Capital
Bill Me Later
Deal Amount: $945M
Sector Focus: eCommerce
Investors Include: Azure Capital Partners, Crosspoint Venture Partners, GRP Partners
FriendFeed
Deal Amount: Undisclosed
Sector Focus: Internet
Investors Include: Benchmark Capital
Jott
Deal Amount: Undisclosed
Sector Focus: Internet
Investors Include: Bain Capital Ventures, Ackerley Partners, Draper Richards
Keibi Technologies
Deal Amount: Undisclosed
Sector Focus: Internet
Investors Include: Catamount Ventures, Hunt Ventures
Mint
Deal Amount: $170M
Sector Focus: Internet
Investors Include: DAG Ventures, Benchmark Capital, Shasta Ventures, First Round Capital, Sherpalo Ventures, Founders Fund, Felicis Ventures, Ron Conway
Opinity
Deal Amount: Undisclosed
Sector Focus: Consumer
Investors Include: SoftBank Capital
PayCycle
Deal Amount: $170M
Sector Focus: eCommerce
Investors Include: Doll Capital Management, August Capital, Conning Capital Partners, Total Technology Ventures
Plum Ventures
Deal Amount: Undisclosed
Sector Focus: Media
Investors Include: Levensohn Venture Partners, Vulcan Capital
Sendori
Deal Amount: Undisclosed
Sector Focus: Intenet
Investors Include: First Round Capital, Baseline Ventures, Maples Investments, Felicis Ventures
SezWho
Deal Amount: Undisclosed
Sector Focus: Internet
Investors Include: KPG Ventures
ShopIt
Deal Amount: $2.67M
Sector Focus: eCommerce
Investors Include: Emerson Ventures, Propulsion Ventures
Spock Networks
Deal Amount: Undisclosed
Sector Focus: Internet
Investors Include: Clearstone Venture Partners, Opus Capital
Vapps
Deal Amount: $26.6M
Sector Focus: Internet
Investors Include: Azure Capital Partners
Widemile
Deal Amount: Undisclosed
Sector Focus: Internet
Life Sciences, Biotechnology, and Cleantech
Ablation Frontiers
Deal Amount: $225M
Sector Focus: Medical devices and instruments
Investors Include: Novartis BioVenture Fund, Affinity Capital, Trellis Health Ventures, Aberdare Ventures, FirstMark Capital, Versant Ventures
Apoptos
Deal Amount: Undisclosed
Sector Focus: Pharmaceutical
Investors Include: Venrock, ARCH Venture Partners, OrbiMed, Advanced Technology Ventures
Circadiant Systems
Deal Amount: undisclosed
Sector: Medical Devices
Investors Include: EnerTech Capital
Confirma
Deal Amount: $22M
Sector Focus: Medical devices and instruments
Investors Include: Telegraph Hill Partners, Fluke Venture Partners, Northwest Venture Associates, Prism VentureWorks, Versant Ventures
CoreValve
Deal Amount: $700M
Sector Focus: Medical devices and instruments
Investors Include: Maverick Capital, Apax Partners, Healthcap Venture Capital, Sofinnova Ventures
Evalve
Deal Amount: $410M
Sector Focus: Medical devices and instruments
Investors Include: BB Biotech Ventures, Delphi Ventures, New Enterprise Associates, Split Rock Partners, Abbott Laboratories, Cutlass Capital, Integral Capital Partners, ABS Capital Partners, Emergent Medical Ventures, Three Arch Partners, Vesbridge Partners, Guidant
HealthMedia
Deal Amount: $175M
Sector Focus: Healthcare services
Panomics
Deal Amount: $73M
Sector Focus: Biotechnology
Investors Include: Battelle Ventures, Bay City Capital, Comerica Bank–Technology & Life Sciences, Frazier Healthcare Ventures, HBM Bioventures, Novartis Bio Venture Fund, Agilent Ventures, 5AM Ventures
Revolution Health Group
Deal Amount: Undisclosed
Sector Focus: Healthcare services
Varian
Deal Amount: $1.5B
Sector Focus: Medical devices and instruments
Visiogen
Deal Amount: $400M
Sector Focus: Medical devices and instruments
Investors Include: Novartis, Three Arch Partners, Technology Partners, New Leaf Venture Partners, Prospect Venture Partners, CMEA Ventures, Foundation Medical Partners, Sprout Group
Software
Adapt Technologies
Deal Amount: Undisclosed
Sector Focus: Software
Investors Include: Emergence Capital Partners, Mohr Davidow Ventures
Applimation
Deal Amount: $40M
Sector Focus: Software
Investors Include: Battery Ventures, JMI Equity
Casero
Deal Amount: Undisclosed
Sector Focus: Software
Investors Include: Rembrandt Venture Partners, Argo Global Capital, Highland Capital Partners
Cemaphore Systems
Deal Amount: Undisclosed
Sector Focus: Software
Investors Include: Mayfield Fund, vSpring Capital, Worldview Technology Partners
Centive
Deal Amount: Undisclosed
Sector Focus: Software
Investors Include: Polaris Venture Partners, Tailwind Capital Partners, VSP Capital, Key Venture Partners
CITTIO
Deal Amount: Undisclosed
Sector Focus: Software
Investors Include: Hummer Winblad Venture Partners, JK&B Capital, Hercules Technology Growth Capital
DataSynapse
Deal Amount: $28M
Sector Focus: Software
Investors Include: Stonehenge Capital, Bain Capital Ventures, Goldman Sachs, Intel Capital, NeoCarta Ventures, Wachovia Capital Partners
Exeros
Deal Amount: Undisclosed
Sector Focus: Software
Investors Include: AllianceBernstein, Bay Partners, Globespan Capital Partners
FastScale Technology
Deal Amount: Undisclosed
Sector Focus: Software
Investors Include: ATA Ventures, Leapfrog Ventures, Hunt Ventures
GoldenGate Software
Deal Amount: Undisclosed
Sector Focus: Software
Investors Include: Summit Partners
HiveLive
Deal Amount: $6M
Sector Focus: Software
Investors Include: Grotech Capital Group
Hyperic
Deal Amount: Undisclosed
Sector Focus: Software
Investors Include: Benchmark Capital, Accel Partners
IBRIX
Deal Amount: Undisclosed
Sector Focus: Software
Investors Include: JT Venture Partners
LeftHand Networks
Deal Amount: $360M
Sector Focus: Software
Investors Include: Boulder Ventures, Garage Technology Ventures, JPMorgan Partners, New World Ventures, Sequel Venture Partners, Sprout Group, Valhalla Partners, Vista Ventures, EPIC Ventures, DFJ Portage Venture Partners
Managed Objects Solutions
Deal Amount: Undisclosed
Sector Focus: Software
Investors Include: Orix Venture Finance, Intel Capital, Lazard Technology Partners, JMI Equity, Horizon Technology Finance
mValent
Deal Amount: Undisclosed
Sector Focus: Software
Investors Include: Polaris Venture Partners, Charles River Ventures, Flybridge Capital Partners
Orchestria
Deal Amount: Undisclosed
Sector Focus: Software
Investors Include: Benchmark Capital, Constellation Ventures, Doughty Hanson & Co., Paladin Capital Group, RRE Ventures, Goldman Sachs
Preclick
Deal Amount: Undisclosed
Sector Focus: Software
Investors Include: LORE Associates, Robin Hood Ventures, Mid-Atlantic Angel Group Fund I, SJF Ventures
Scansafe
Deal Amount: $183 million
Sector: Cyber Security
Investors Include: Benchmark Capital, Scale Venture Partners, Balderton Capital
SpringSource
Deal Amount: $420M
Sector Focus: Software
Investors Include: Accel Partners, Benchmark Capital, Meritech Capital
Transitive
Deal Amount: Undisclosed
Sector Focus: Software
Investors Include: Accel Partners, Crescendo Ventures, Pond Venture Partners
Twofish
Deal Amount: Undisclosed
Sector Focus: Software
Investors Include: Triple Point Capital, Rustic Canyon Partners, Venrock
VhaYu Technologies
Deal Amount: Undisclosed
Sector Focus: Software
Investors Include: Menlo Ventures, Silicon Valley Bank
Virtual Iron Software
Deal Amount: Undisclosed
Sector Focus: Software
Investors Include: Highland Capital Partners, Matrix Partner, Goldman Sachs, Intel Capital, SAP Ventures, Brookside Capital
Telecommunications
Action Engine
Deal Amount: Undisclosed
Sector Focus: Mobile
Investors Include: Baker Capital, Northwest Venture Associates, OVP Venture Partners
Dexterra
Deal Amount: Undisclosed
Sector Focus: Communications
Investors Include: New Enterprise Associates, Canaan Partners, Intel Capital, Mesirow Financial, Motorola Ventures, Sigma Partners
Digital Fountain
Deal Amount: Undisclosed
Sector Focus: Mobile
Investors Include: Granite Ventures, Matrix Partners, Sumitomo Electric, Honda Motors
Jaxtr
Deal Amount: Undisclosed
Sector Focus: Mobile
Investors Include: Lehman Brothers Venture Partners, August Capital, Draper Richards, Founders Fund, Mayfield Fund
SnapTell
Deal Amount: Undisclosed
Sector Focus: Mobile Internet
Investors Include: JK&B Capital, New Enterprise Associates
Xumii
Deal Amount: Undisclosed
Sector Focus: Mobile
Investors Include: CM Capital, Southern Cross Venture Partners
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