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Cross Border Activity - March 2009

Posted in Cross Border Activity

There were four cross-border transactions in March involving acquirers or venture capitalists based out of the US.  Three of the four transactions involved US investments in Canadian technology companies.  All of the money was allocated to companies operating in Ottawa or Quebec, with two reported deals in each region.  As usual, US VCs making the trek north of the border participated in larger, later-stage financings – helping to raise $30 million for Zoom Media and $19.5 million for OneChip Photonics.

 

Details of March’s cross border deals are listed below.

 

 

U.S. Activity in Canada

 

ABS Capital Partners (MD) made a $30 million dollar investment in Zoom Media, a Montreal-based media company specializing in billboards.

 

Two California funds, Morgenthaler Ventures and DCM, participated in a $19.5 million round by OneChip Photonics.  The Ottawa-based company is a developer and manufacture of optical transceivers used in access networks and other broadband applications.

 

 

Cross Border M&A

 

Massachusetts-based Analog Devices (NYSE: ADI) acquired all of the technology assets of Quebec-based Domosys Corporation.   Domosys, which was wound down upon the completion of the asset sale, was a developer of technologies used in power-line communications.

 

High Road Capital Partners, a NY-based PE shop, acquired Accentus, an Ottawa-based provider of medical transcription and related data management services.