GFI Software acquires Fund IV portfolio co. Exinda
With nine complete exits in 2016, five of which involved M&A transactions, it comes as no surprise that 2017 continues in the same vein. Our second exit of 2017, and first via M&A, is now public. The news isn’t as splashy as the pending Initial Public Offering of Fund III portfolio co. Real Matters (see prior post “Reuters: Good roadshow momentum for Real Matters” Apr. 27-17), but as with most VC deals, a trade sale is the more natural outcome.
Austin-based GFI Software has announced its acquisition of Fund IV portfolio co. Exinda:
“The acquisition of Exinda strengthens GFI’s ability to deliver on its promise to create simple yet powerful products for the SMB market,” said Scott Brighton, CEO of GFI Software, and added: “Exinda’s application and network performance tools perfectly complement the existing GFI’s product portfolio of communication and security products, and bring tremendous added value to our constantly expanding global community of customers and partners. By acquiring Exinda we’re getting one step closer to our strategic goal: building a world-class network security, management and communication platform for SMBs.”
Exinda provides wide-area network (“WAN”) optimization solutions to over 2,500 organizations in 80 countries. These solutions allow clients to see, control, accelerate and optimize the traffic on their networks and in the process, maximize network resources, control operational costs and improve the user experience. Founded in 2002, Exinda is headquartered in Andover, MA with corporate offices in Toronto and a research and development facility in Waterloo, Ontario. The Company employs about 80 individuals, and was backed by OpenView.
Congrats to Michael, Efrem, and the rest of the team on a successful transaction.