Avalon Sees Two Portfolio Exits

Christmas came early this year for San Diego’s Avalon Ventures, with news that two of its portfolio companies have been acquired. Rackspace Hosting announced today that it has acquired San Francisco-based Cloudkick, which was graduated from Y Combinator’s winter class of 2009 with Web tools that help manage cloud computing environments. On the other side of the country, AOL announced it has acquired New York-based Pictela, which has developed a global technology platform for serving high-definition advertising content. Terms of the two deals were not disclosed, but Avalon founder Kevin Kinsella is pleased. He alerted me to the news this morning in an e-mail with a smile :-)

Bruce V. Bigelow is the editor of Xconomy San Diego. You can e-mail him at bbigelow@xconomy.com or call (619) 669-8788 Follow @bvbigelow

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