Price Revealed For Bbn Deal: $350 Million

In September, defense contractor Raytheon announced an agreement to purchase R&D innovator BBN Technologies, but didn’t say for how much. Today, the deal closed and the price came out. It is $350 million. Investors Accel Partners and General Catalyst Partners, who co-led a management buyout in 2004, made out nicely. Accel says that its cut was more than $100 million, which suggests it owned about a third of the company. (BBN was one of Accel partner Jim Breyer’s investments). Presum...

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