Thursday, May 14, 2009

ColdSpark Acquired By Backup Software Firm

Broomfield, Colorado-based ColdSpark, a developer of email infrastructure software for the enterprise, has been acquired by a data backup software firm, BakBone Software. According to BakBone, it willl pay approximately $15.9M in a combination of cash and stock for ColdSpark, consisting of $8.125M in cash plus 18,169,780 shares of the firm's common stock. Scott Brown, co-founder and Chief Technology Officer of ColdSpark, will join BakBone as General Manager of a new, Message Management Division of BakBone. BakBone did not say how the acquisition would affect employees at ColdSpark. BakBone is publicly held, and based in San Diego, California.