Industry News Desk
Tibco Buys DataSynapse
Tibco paid less than the money poured into it, which exceeded $26 million
By: Maureen O'Gara
Aug. 26, 2009 06:45 AM
Tibco has bought privately held DataSynapse for $27.7 million in cash including ~$13.3 million to pay down debt.
DataSynapse develops enterprise grid and cloud computing software that provisions and manages applications across physical, virtual, and cloud-based environments. It’s supposed to improve data center utilization, lower IT capex, speed application deployment and heighten system performance.
DataSynapse co-founders Peter Lee and Jamie Bernardin, two ex-Wall Street types, will remain with the company and continue to run the business.
DataSynapse is supposed to have 100 financial services and telecom customers.
Its investors included Bain Capital, Goldman Sachs, Intel Capital, NeoCara Ventures, Silicon Alley Venture Partners, Wachovia Strategic Ventures, Stonehenge Capital Corporation, the NYC Investment Fund and Wand Partners.
Tibco paid less than the money poured into it, which exceeded $26 million.
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