V3 Systems Acquired By Sphere 3D For $9.7M

Salt Lake City-based V3 Systems, a developer of desktop cloud management software, is being acquired by a Canadian company called Sphere 3D. Sphere 3D announced the acquisition of V3 Systems earlier this week. The deal was owrth $9.7M, split between $4.0M in cash plus 1,089,867 shares of Sphere 3D's stock. V3's appliance products are used for administrating local, cloud hosted, or hybrid virtual desktop deployments. V3 was led by Ric Lindstrom.