Bakbone Pays $7.8M of Stock for Coldspark
Luke Timmerman5/27/09
[[Correction: We originally reported that Bakbone raised $7.8 million in new equity, but a closer read of a footnote in the regulatory filing shows Bakbone is issuing stock worth that amount as part of its acquisition of Coldspark. We apologize for the error.]] Bakbone Software, the San Diego-based maker of data backup and recovery products, is paying $7.8 million worth of its stock as part of its acquisition of Broomfield, CO-based Coldspark, according to a regulatory filing. Bakbone has been putting its cash to work this month, as it has gone on a shopping spree. It acquired Broomfield, CO-based Coldspark for $15.9 million in cash and stock, and Santa Clara, CA-based Asempra Technologies for $3 million. Coldspark makes enterprise e-mail applications, while Asempra developed continuous data protection technology.
Luke Timmerman is the National Biotech Editor of Xconomy, and the Editor of Xconomy Seattle. E-mail him at ltimmerman@xconomy.com or follow him on Twitter at twitter.com/ldtimmerman.
Ben Kuo
5/27/09 2:41 pm
Luke, actually, this is part of what Bakbone paid to Coldspark to acquire the firm–not cash raised by Bakbone. ($7.8M in common stock, or 18,169,780 shares, part of their overall $15.9M acquisition price)
Luke Timmerman
5/27/09 3:27 pm
Ben, thanks for the heads up. We’ve made the correction.