M&A Deals

3M (NYSE: MMM) has agreed to acquire SoftMed Systems Inc., a Silver Spring, Md.-based provider of health information management software and services for healthcare organizations. No financial terms were disclosed. Softmed is a portfolio company of TA Associates, and was valued at around $195 million when TA first invested in 1999. www.3m.com www.softmed.com

Akamai Technologies Inc. (Nasdaq: AKAM) has agreed to acquire Nine Systems Corp., a San Diego

Neuro-Hitech Inc. (OTC BB: NHPI) has agreed to acquire Q-RNA Inc., a New York-based biotech company focused on conditions such as Alzheimer's, epilepsy and Parkinson's disease. The deal is valued at nearly $11 million in stock, plus an agreement whereby Q-RNA shareholders will commit at least $3.1 million to the combined company. Q-RNA has raised […]

Yahoo Inc. (Nasdaq: YHOO) has agreed to buy Bix.com, a Palo Alto, Calif.-based provider of online contests. No financial terms were disclosed. Bix was founded earlier this year as 900 Seconds, and raised around $6.75 million in funding from Sutter Hill Ventures, Trinity Ventures and Stanford University. www.yahoo.com www.bix.com  

Willis Stein & Partners is selling its entire 8.7% stake in ANSYS Inc. (Nasdaq: ANSS), which it acquired in connection with Ansys' purchase of Fluent Inc. in May 2006. The 3.35 million shares will be sold in a secondary offering underwritten by Goldman Sachs. www.ansys.com

Pharmion Corp. (Nasdaq: PHRM) has acquired Cabrellis Pharmaceuticals, a San Diego-based oncology company that is in Phase 2 development of a third-generation synthetic anthracycline for small-cell lung cancer. The deal includes an initial cash payment of $59 million, plus the possibility of two regulatory-based milestone payments of $12.5 million each. Cabrellis raised $27.5 million in […]

SunPower Corp. (Nasdaq: SPWR) has agreed to acquire PowerLight Corp., a Berkeley, Calif.-based provider of large-scale solar power systems, for total consideration of $265 million (including $130 million in cash). PowerLight had raised around $20 million in VC funding from firms like Bay Area Equity Fund and New Energies Invest AG. www.powerlight.com

Apax Partners has sold its 71% stake in UK-based publishing services company Stationary Office to German postal services and logistics company Deutsche Post AG (via subsidiary Williams Lea Group). No financial terms were disclosed. www.apax.com www.tso.co.uk

Cisco Systems (Nasdaq: CSCO) has agreed to acquire Greenfield Networks Inc., a Sunnyvale, Calif.-based provider of Ethernet silicon technology solutions for enterprise and metro markets. No financial terms were disclosed. Greenfield has raised around $46.6 million over three rounds of VC funding, including a $13.1 million Series B deal in 2003 at a $33.3 million […]

KPS Special Situations Funds has agreed to sell Ebro Electronics GmbH & Co. KG  to Nova Analytics Corp. for an undisclosed amount. Ebro is a German producer of instruments that measure temperature, pressure, humidity and pH. www.novaanalytic.com www.ebro.de