2 Year Old iConclude.Com acquired for $60 million

March 8, 2007 at 2:22 pm Leave a comment

IConclude of Bellevue has agreed to be sold for about $60 million in cash, stock and dividends to Opsware, a publicly traded Sunnyvale, Calif.-based company that helps firms automate information technology operations.

Founded in early 2005 by Sunny Gupta and Jeff Gerber, iConclude makes software that helps companies automatically fix technical problems in data centers.

IConclude raised $9 million in April from Madrona Venture Group, Greylock Partners and Shasta Ventures, bringing total financing to $12 million. It posted $1.2 million in sales last year, with customers such as Alaska Airlines, Glaxo Smith Kline and Haliburton.

This is not the first time that Opsware has bought a Madrona-backed startup in the Seattle area. In 2004, it bought Redmond’s Rendition Networks in a deal valued at about $33 million.

http://seattlepi.nwsource.com/business/306436_iconclude07.html

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Entry filed under: Internet Startup.

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About Biz News

My Name is Bisi and this is my blog This blog features stories that I have read that I think are interesting . I usually bookmark the stories that I find interesting but they are getting too many . I have decided to catalog and share them on this site . I am not really promoting the site so you might have accidentally stumbled on it . Thanks for visiting .
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