Tuesday, July 11, 2006
Opsware Buys Creekpath For $10M
Opsware, a provider of enterprise IT automation software, has acquired Boulder, Colorado-based Creekpath, the firm said this morning. Opsware will pay approximately $10M in cash, plus additional earnout worth up to $5M in cash. Opsware said that it will acquire Creekpath as the foundation for the company's upcoming application automation solution which it will be available in the first half of 2007. Opsware said that as part of the deal, it will close the company's Boulder, Colorado-based facilities, and relocate personnel to Opware's offices in Redmond, Washington. Opsware also said it will discontinue support for Creekpath's Acuity product. Creekpath has raised more than $55M in venture capital funding, from AG Edwards, Exabyte, Lehman Brothers Venture Partners, New Enterprise Associates, Sequel Venture Partners, and Telesoft. Creekpath was in the midst of re-focusing the company beyond its original, storage resource management (SRM) roots and trying to instead target business intelligence, as the company found itself struggling to find buyers of its software. The company was looking to raise another round of venture funding this year after launch of its products.