Best Buy To Acquire Speakeasy

Best Buy Co. Inc. (NYSE: BBY) has agreed to acquire Speakeasy Inc., a Seattle-based provider of broadband voice, data and IT services. The deal is valued at approximately $97 million, which is around 1.2x Speakeasy's 2006 revenue of $80 million. Speakeasy has raised around $55 million in VC funding since 2000, from firms like Granite Ventures, 3i Group, BV Capital, Intel Capital and TI Ventures.