Tuesday, February 17, 2009

Battery Ventures-backed firm lands $40M buyout

By Mass High Tech staff

A Battery Ventures investment, Chicago-based information lifecycle management developer Applimation Inc., has been sold for $40 million to Informatica Corp., a California data integration software firm.

The exit agreement, intended to close in a few days, carries with it more than 290 global customers of Applimation’s data management software. The software is meant to reduce data storage space and costs consumed by up to 80 percent of “inactive” data and about 40 percent of confidential data.

Applimation has pulled in about $9.3 million from venture capital firms including Battery Ventures, as well as JMI Equity, RPM Ventures and M Group, website PE Hub reports.

Battery Ventures is a Waltham-based venture capital and private equity firm with offices in California, India and Israel.