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Venture Capital Layer 7-CA Technologies

Published on May 10th, 2013 | by Ted Liu

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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.

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About the Author

Ted is an editor of CanadianPrivateEquity.com and Research Director for CVCA - Canada's Venture Capital and Private Equity Association. Ted has been following Canadian venture capital and private equity industry since 1993.



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