Mergers & acquisitions

ABB Ltd. has agreed to acquire Power-One Inc. (Nasdaq: PWER), a Camarillo, Calif.-based maker of solar power inverters, for approximately $1 billion, or $6.35 per share in cash (57% premium to Friday’s closing price). Sellers would include Silver Lake Sumeru, which currently holds around a 14% stake in Power-One.

Avago Technologies Ltd. (Nasdaq: AVGO) has acquired Javelin Semiconductor Inc., an Austin, Texas-based developer of mixed-signal ICs for wireless communications. No financial terms were disclosed. Javelin had raised around $21 million in VC funding from investors like Sevin Rosen Funds and Silverton Partners.

CECO Environmental Corp. (Nasdaq: CECE) has agreed to acquire Met-Pro Corp. (NYSE: MPR), a Harleysville, Penn.–based provider of product recovery, pollution control, fluid handling and filtration solutions. The deal is valued at approximately $210 million in cash and stock, or $13.75 per share (43% premium to Friday’s closing price).

DSM Pharmaceutical Products, the custom manufacturing and technology business of Royal DSM, has signed a development partnership with Cambridge, Mass.-based DecImmune Therapeutics, related to its lead monoclonal antibody program for reducing tissue damage and improving ventricular function associated with myocardial infarction. No financial terms were disclosed. DecImmune has raised VC funding from Broadview Ventures, Astellas Venture Management and HealthCare Ventures.

Pentaho Corp., an Orlando, Fla.-based provider of business analytics, has acquired Portugal-based consulting partner Webdetails. No financial terms were disclosed. Pentaho has raised around $60 million in VC funding from Benchmark Capital, Index Ventures, DAG Ventures and New Enterprise Associates.

TheStreet Inc. (Nasdaq: TST) has acquired The DealFlow Report and several related assets from DealFlow Media Inc. No financial terms were disclosed.

TPG Capital has hired Morgan Stanley and UBS to find a buyer for China-based UniTrust Finance & Leasing Corp., according to Reuters. The deal could be worth around $800 million.

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