Moody’s Investors Service has cut the rating outlook for Sabre Holdings Corp. from stable to negative. Sabre is a Southlake, Texas-based online travel reservations company taken private last year by Silver Lake Partners and TPG Capital for approximately $5 billion.
PRESS RELEASE

The venture capital ecosystem has reacted swiftly and decisively to the pending recession — an alacrity that bodes well for the long-term health of today’s startup companies. As Benchmark highlighted at the end of a recent memo to its portfolio companies, this is when the best companies get built.

InterAct991 Corp., a Winston-Salem, N.C.-based provider of public safety and homeland security solutions for private sector businesses, has raised $28 million in new VC funding. Foundation Capital and Bay Partners co-led the round, and were joined by return backer SilkRoad Equity.

The Carlyle Group has agreed to sell AxleTech International to General Dynamics (NYSE: GD) for an undisclosed amount. Carlyle acquired AxleTech in late 2005 from Wynnchurch Capital. The company makes parts for military vehicles, commercial specialty trucks and off-highway machines.

Boxee Inc., a New York-based developer of a “social” media center, has raised $4 million in Series A funding from Spark Capital and Union Square Ventures. Bijan Sabet of Spark and Fred Wilson of USV will join the company’s board of directors. www.boxee.com
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