Monday, May 24, 2010

ColdSpark Shut By BakBone

Broomfield, Colorado-based ColdSpark, which is now a unit of BakBone Software, is shutting down. According to BakBone Software, which acquired ColdSpark last may for $15.9M in cash and stock, it would pay out around $300,000 in personnel related expenses related to the closing. BakBonedid not announce how many employees at ColdSpark were affected. BakBone explained that, among other things, that the shutdown would "eliminate the risk" of ColdSpark's longer sales cycle and allow it to focus on its core storage and data protection products.