Thursday, February 26, 2009

$26 Million In, $3 Million Out

This is one of those deals all the VCs involved would probably rather forget: putting $26 million into Tizor Systems of Maynard ($8.3 million as recently as last February), and then selling it to Netezza for $3.1 million in cash. Tizor makes software for securing and auditing the information stored in data centers.

Who was involved in this one? Longworth, Navigator Technology Ventures, Common Angels, and Masthead Venture Partners locally, and Hummer Winblad on the West Coast, according to PEHub.

I wrote earlier this month about the rising number of these fire sales of struggling tech companies. And a while back, I wrote about firms like Masthead and Longworth trying to raise new funds. Neither has.

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