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Of the seven navigational tabs on Savvian's website, the third is titled "Mergers and Acquisitions."  And a connection between Savvian and Federated Media may revolve around exactly that topic.

"A source close to the company says the bank will mainly be used to vet numerous incoming queries - not to solicit buyers or investors," reports Rafat Ali.  "Another source, this one among the interested parties, says that FM is indeed looking to raise as much as $50 million, and the valuation is in the $125 million pre-money range."

The first scenario might make a little more sense, given the current market situation.  A lot of VCs aren't acting too nervous, though, so asking for money couldn't hurt.

Owen Thomas introduces one more factor into the equation, writing, "Battelle's choice of a banker is curious: Savvian is known for helping companies in dire straits."

So there's quite a range of options, really, and we wouldn't expect anything else on a slow Friday.  Should one of the rumors solidify, though, we'll be sure to provide updates.