ChannelAdvisor Corp., a Morrisville, N.C.-based provider of channel management solutions, has acquired SearchMarketing, a Seattle-based provider of natural and paid search optimization solutions for online merchants. No financial terms were disclosed. ChannelAdvisor has raised over $33 million in total VC funding, including an $18 million infusion earlier this year at a post-money valuation of approximately $23 million. Backers include Advanced Technology Ventures, Kodiak Venture Partners, TriState Investment Group, eBay Inc., Atlantis Group and Southern Capitol Ventures. www.channeladvisor.com

Xanodyne Pharmaceuticals Inc., a Florence, Ky.-based drug company, has won the bankruptcy auction for the pharmaceuticals division of aaiPharma Inc. (OTC BB: AAIIQ). The purchase price is $209.25 million, which is $40 million more than an original stalking horse offer announced when aaiPharma filed for Chapter 11 on May 10, 2005. Xanodyne also committed to purchasing up to $30 million of services to be provided by aaiPharma's development services division over the next three years. Xanodyne has raised over $38 million in VC funding from Blue Chip Venture Co., Essex Woodlands Health Ventures and HealthCare Ventures. www.xanodyne.com www.aaipharma.com

Assay Designs Inc. of Ann Arbor, Mich. has acquired Stressgen Bioreagents Corp., a British Columbia-based maker of antibody and protein kits for life science research. No financial terms were disclosed for the deal, which was sponsored by Assay Designs shareholder Ampersand Ventures. Stressgen received VC funding in 1998 from Vector Fund Management. www.assaydesigns.com www.stressgen.com

Jobster Inc., a Seattle-based provider of targeted job advertising services, has acquired WorkZoo Inc., Fountain Valley, Calif.-based vertical search engine for job seekers. No financial terms were disclosed. Jobster has raised VC funding from Ignition Partners and Trinity Ventures. www.jobster.com www.workzoo.com

MindShift Technologies Inc., a Fairfax, Va.-based, has acquired Union Square Technology Group LLC, a New York-based provider of IT systems integration and other services to the legal sector. No financial terms were disclosed for the deal, although MindShift did say that Union Square had approximately $8 million in annual revenue. MiondShift has raised over $120 million in VC funding from firms like Bessemer Venture Partners, Columbia Capital and Fidelity Ventures. www.mindshift.com

Celenese Corp. (NYSE: CE) has received European Union approval for its proposed $492 million buyout of Canadian chemicals company Acetex Corp. Celenese is controlled by The Blackstone Group. www.blackstone.com

HB Performance Systems Inc., a braking systems maker acquired last month by Nautic Partners, has acquired the assets of Sun Metal Products, a Warsaw, Ind.-based maker of rims and wheel-sets for mountain bikes. No financial terms were disclosed for the deal, except that structured financing was provided by M&I Bank, LaSalle Bank and JPMorganChase. www.hayesbrake.com

Investment Technology Group Inc. (NYSE: ITG) has agreed to acquire The MacGregor Group, a Boston-based provider of trade order management technology to the global financial market. The all-cash deal is valued at approximately $230 million, and is expected to close within the next 60 to 90 days. Private equity firms Bain Capital, Commonwealth Capital and The Audax Group own approximately 43% of Macgregor. www.itginc.com www.macgregor.com

Solexa Inc. (Nasdaq: SLXA), a Hayward, Calif.-based genetics analysis company, has received $24 million in new PIPE funding, including approximately $10.8 million from prior VC backers Abingworth Management, Amadeus Capital Partners, Oxford Bioscience Partners and SV Life Sciences. The funding represents a second close to a $32.5 million deal announced earlier this year. www.solexa.com

AIG Global Investment Group has held an $800 million final close on its AIG Highstar Capital II fund, which is a group of buyout vehicles formed to back infrastructure (including energy) and related assets and businesses. Limited partners include Principal Life Insurance Co., Everest Reinsurance Co., Mars Retirement Trust, Lexington Insurance Co., British Columbia Investment Management Corp., Kamil Holdings and Pioneer Group Ltd. The initial Highstar fund closed in November 2000 with capital commitments of $406 million. www.aig.com

Castle Harlan Australian Mezzanine Partners (CHAMP) is nearing a final close of between Au$900 million and Au$1 billion for its latest fund, according to Australian press reports. www.champequity.com

Ronan Cunningham has joined The National Pensions Reserve Fund of Ireland as head of private equity. He previously was a partner in the London office of Adams Street Partners.

Jane Wheeler has joined Evercore Partners as a senior managing director. She most recently served as a managing director with Morgan Stanley, where she headed their securities and financial technology I-banking business. www.evercore.com

Henry Tsang and David Cheng have joined Bear Stearns Asia Ltd. Tsang joins as group president and senior managing director, after previously having co-founded Search Asian Mezzanine Capital). Cheng joins as a managing director, and most recently served as co-head of I-banking with CITC Capital Markets. www.bearstearns.com

Michael Strickland has joined The Waterbury-Arms Group as a senior managing director for the company’s investment banking group.  He most recently served as senior managing director of Lazard.  Strickland also held senior positions with Bear Stearns’ technology group and held previous positions with Lehman Brothers. www.waterbury-arms.com

Brookwood Financial Partners of Beverly, Mass. has promoted firm co-founder Eve Trkla to the position of chief operating officer and partner. Her previous titles were CFO and senior managing director.

PricewaterhouseCoopers has named Gordon Medeiros as lead partner in its Transaction Services group in Minneapolis. He has spent the past five years as a partner in the firm's Boston Transaction Services group. www.pwc.com