US-listed computer company IBM has agreed to acquire corporate venturing-backed Blade Network Technologies, a local provider of data centre equipment, for an undisclosed sum.
Twelve months earlier Blade completed an investment round giving it a valuation of $230m.
In September last year, Blade raised $10m of a planned $14.25m round from three strategic investors: NEC Corporation, Juniper Networks and another undisclosed company, and private equity firm Garnett & Helfrich Capital, according to a regulatory filing.
Garnett & Helfrich invested a reported $30m to spin Blade out from Nortel Networks, which retained a minority interest in the division it had started in 2002.