ARC Acquires Teja Tech

ARC International (LSE: ARK) has acquired the primary assets of Teja Technologies Inc., a San Jose, Calif.-based developer of heterogeneous multiprocessor software. The deal includes a $3.4 million upfront cash payment, plus up to $1.6 million in earn-outs that could be paid in stages over the next two years. Teja reported a $3.3 million loss for calendar year 2006, and listed its gross assets at just $900,000, at the end of March. Teja had raised $32 million in VC funding since 2000, from firms like Blueprint Ventures, Intel Capital, Mayfield, Tallwood venture Capital, PacRim Venture Partners, RRE Ventures and SmartForest Ventures.