US-based mobile app development platform Appcelerator was acquired by enterprise software developer Axway for an undisclosed cash sum yesterday, providing an exit to investors including e-commerce company eBay and software producer RedHat.
Founded in 2006, Appcelerator’s technology enables developers to create cross-platform mobile applications. The company claims its technology helps run apps on more than 350 million devices.
Axway CEO Jean-Marc Lazzaari revealed to Techcrunch that his company will retain Appcelerator’s brands but is considering turning Appcelerator into an innovation lab in Silicon Valley.
Appcelerator had raised approximately $91m, according to press releases and regulatory filings, with eBay coming in as an investor as part of a $9m series B round in 2010 that included Sierra Ventures and Storm Ventures.
Red Hat led a $15m series C round in 2011 also backed by eBay, Sierra, Storm, Mayfield Fund and Translink Capital, while Presidio Ventures, a corporate venturing subsidiary of conglomerate Sumitomo, invested $3m the following year.
Other Appcelerator investorrs included EDBI, the investment arm of the Singapore government’s Economic Development Board, as well as Rembrandt Venture Partners, Union Grove Venture Partners, Relay Ventures and Social Internet Fund.