PE Week Wire — 9/18/06

Freescale Semiconductor Inc. (NYSE: FSL) has agreed to be acquired for $40 per share, for a total equity value of $17.6 billion. Blackstone Group is leading the buying consortium, which also includes The Carlyle Group, Permira Funds and Texas Pacific Group. A losing consortium included KKR, Apax, Bain Capital and Silver Lake Partners. www.freescale.com

Oak Hill Capital Partners has agreed to sell Westlake, Ohio-based truck stop operator TravelCenters of America Inc. to Hospitality Properties Trust (NYSE: HPT) for approximately $1.9 billion. Oak hill acquired TA in November 2000. www.tatravelcenters.com

Caspian Networks Inc., a San Jose, Calif.-based optical networking company, in on the block. Light Reading reported last week that Caspian had ceased operations, and multiple press reports today say that its VC backers are actively seeking acquirers. Caspian has raised around $325 million in total VC funding since its 1999 inception. This includes an $85 million Series C deal in 2000 at a $390 million post-money valuation, and subsequent million Series A recap at a $195 million post-money valuation. Caspian's most recent deal valued the company at just $85 million. Current shareholders include ABN Amro, Alloy Ventures, Morgenthaler, New Enterprise Associates, Oak Inv*stment Partners and U.S. Venture Partners. www.caspiannetworks.com
 

    VC Deals

LifeSize Inc., an Austin, Texas-based provider of high-def videoconferencing systems, has raised $25 million in Series D funding. Lehman Brothers Venture Capital led the deal, and was joined by return backers Austin Ventures, Norwest Venture Partners, Redpoint Ventures, Sutter Hill Ventures and Pinnacle Ventures. The company has raised around $90 million in total VC funding since its 2003 inception. www.lifesize.com

OpSource Inc., a Santa Clara, Calif.-based developer of enterprise infrastructure operations platforms, has raised $20 million in private equity, venture leasing and credit lines. Intel Capital led the Series C equity tranche, and was joined by return backers ComVentures, Artiman Ventures, and Key Venture Partners. Western Technology Inv*stment provided the venture leasing, while Silicon Valley Bank extended an additional line of credit. www.opsource.com

SchoolNet Inc., a New York-based provider of software for helping public school districts improve efficiency and academic achievement, has raised $19 million in Series C funding. Backers include The Carlyle Group, Hamilton Lane and the New York City Inv*stment Fund. www.schoolnet.com

WrenchHead.com Inc., a White Plains, N.Y.-based online retailer for automotive parts and accessories, has raised $17.88 million in new Series A funding, according to a regulatory filing. Backers include Polaris Venture Partners and MidMark Capital. WrenchHead.com has raised over $110 million in total VC funding since its 1999 inception, and last month acquired iCarz Inc. www.wrenchhead.com

PeakStream Inc., a Redwood City, Calif.-based provider of software application platforms to the high-performance computing market, has raised $17 million in Series B funding. Foundation Capital led the deal, and was joined by return backers Sequoia Capital and Kleiner Perkins Caufield & Byers. www.peakstreaminc.com

Emphany Systems Inc., an East Palo Alto, Calif.-based developer of wireless sensor platform solutions, has raised $13.35 million in first-round funding, according to a regulatory filing. Backers include Sigma Partners, OVP Venture Partners, New Venture Partners and Intel Capital.

Multifamily Technology Solutions Inc. (a.k.a. MyNewPlace), a San Francisco-based Internet listing service for apartment building leasing, has raised $12 million in Series B funding. Sutter Hill Ventures and Split Rock Partners co-led the deal, and were joined by return backers like Trinity Ventures and United Dominion Realty Trust. www.mynewplace.com

Tremor Network, a New York-based online ad sales company focused on in-banner and video ads, has raised $8.4 million in first-round funding. Masthead Venture Partners and Canaan Partners co-led the deal. www.tremornetwork.com

Peak Surgical Inc., a Palo Alto, Calif.-based surgical device startup, has raised around $8 million in Series B funding, according to a regulatory filing. Backers include Venrock Associates and Lehman Brothers. www.peaksurgical.com

Liquid Machines Inc., a Waltham, Mass.