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Green data storage firm picks up $8 million Series A round

Posted Sep 16th 2009 4:20PM by Tom Johansmeyer (RSS feed)
Filed under: Deals, Private Equity, Technology

GreenBytes, a unique data storage appliance company, has just received an $8 million Series A round of investment financing. Battery Ventures completed the deal, which provides fresh resources for the Rhode Island-based energy-efficient technology company.

Founded in 2007, GreenBytes offers network attached storage (NAS) and storage area network (SAN) solutions that reduce energy consumption, providing a cost savings opportunity while also addressing corporate social responsibility considerations.

Continue reading Green data storage firm picks up $8 million Series A round

Quovadx clears the deck for its buyout deal

Posted May 7th 2007 4:56PM by Tom Taulli (RSS feed)
Filed under: Private Equity

Haven't heard of Quovadx Inc. (NASDAQ: QVDX)? It really doesn't matter for investors anymore. The company is going private.

Actually, the company is a hodgepodge of IT divisions – such as in healthcare and even programming tools. Because of its complexity, the buyout deal was a bit convoluted.

One buyer, Premier, bought a healthcare division, whereas Battery Ventures bought the rest of the company. In fact, the valuation was pretty low (at about 1.1 times revenues).

Well, Quovadx blinked – a little. The company has agreed to boost its offer by 2% or $3.20 per share.

That's not much but that might be the last for shareholders. The current stock price is $3.11 per share.

Tom Taulli is the author of various books, including the Complete M&A Handbook and the EDGAR-Online Guide to Decoding Financial Statements.