spend as much on R&D as it does on acquisitions.
—Woburn, MA-based healthcare HR management software maker HealthcareSource said that it had bought its Grand Rapids, MI-based partner TestSource. Financial details of the deal were not disclosed, but regulatory filings last week revealed that Healthcaresource had raised $3.2 million and $8 million in two separate equity- and rights-based deals.
—GT Solar, a Merrimack, NH-based developer of solar and LED technologies, revealed its plans to repurchase and retire 26.5 million of its shares of common stock at $7.66 per share, for a total of $203 million. The deal, expected to close November 12, will shrink its shares outstanding from 151 million to about 124 million.
—Boston-based video ad provider ScanScout was bought by its New York-based competitor Tremor Media, in order for the two companies to form a video ad distribution network that could rival leading digital players like Hulu and YouTube. The terms of the deal weren’t revealed. ScanScout has raised about $17.5 million since 2005, from investors such as General Catalyst Partners, EDBI, First Round Capital, Baseline Ventures, Time Warner, and angel investor Ron Conway.
—Boston-based ConnectEDU, a provider of Web-based software for college admissions and career counseling, brought in $4.9 million of a potential $7 million equity-based funding round, according to an SEC filing.
—Envista, a Beverly, MA-based maker of software for managing construction and utility projects and infrastructure, raised $4.1 million of a planned $7.6 million funding round. Its previous backers include Point Judith Capital, Borealis Ventures, and Egan-Managed Capital.
