Layer 7 to be acquired by CA Technologies for $155 million
On April 22, 2013, CA Technologies (NASDAQ: CA) announced the entering into an agreement to acquire Layer 7 Technologies, a provider of Application Programming Interface (API) management and security.
Financial terms were not disclosed at the time of announcement. CA has now disclosed it is acquiring Layer 7 Technologies for approximately US $155 million. The acquisition is expected to close by June 2013.
Layer 7 Technologies has raised over $ (Premium contents. Be first to know: Subscribe) million from GrowthWorks managed Working Opportunity Fund (EVCC) Ltd. (WOF), BDC Venture Capital, Shoreline Venture Partners, and other investors.
As of December 31, 2012, WOF listed its investment in Lay 7 Technologies, one of its three largest portfolio companies (Teradici Corp. and ResponseTek being the other two), at $ (Premium contents. Be first to know: Subscribe) million.
In November 2012, Working Opportunity Fund disclosed it was in an advanced stage towards a potential sale of Layer 7 (not disclosed then) at a significant increase to the fund’s carrying value.
Ted Liu Ted is an editor of CVCA News and Research Director for CVCA - Canadian Venture Capital & Private Equity Association. Ted has been following Canadian venture capital and private equity industry since 1993.