Cloud provider Cassatt sells out to CA to avoid bankruptcy
Cassatt, the San Jose, Calif.-based provider of cloud computing environments, has sold its assets to public IT management firm CA for an undisclosed sum. The company has been in trouble for a while now, announcing its intentions to find a buyer back in April after burning thround $100 million in venture capital.
CA will also inherit select employees from Cassatt. The cloud company had been backed by Hewlett-Packard, In-Q-Tel, New Enterprise Associates, Portcullis Partners, Quatris Fund and Warburg Pincus, reports VentureWire.
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About the Author, Camille Ricketts
Camille is the lead writer for GreenBeat. She came to VentureBeat from Google where she worked on its traditional platforms team, particularly in TV. Before that, she was a reporter for the Wall Street Journal in New York and London. Follow her on Twitter at @camillericketts, and follow VentureBeat on Twitter at @venturebeat.
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