Bakbone Pays $7.8M of Stock for Coldspark

5/27/09

[[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.

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  • http://www.socaltech.com/bakbone_buys_email_software_firm_coldspark/s-0021650.html Ben Kuo

    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)

  • http://www.xconomy.com/author/ltimmerman/ Luke Timmerman

    Ben, thanks for the heads up. We’ve made the correction.