Norwest Venture Partners has exited network virtualisation company Pertino, which had raised almost $29m in funding, through an acquisition by Cradlepoint.
Norwest Venture Partners, the venture capital firm managing funds on behalf of financial services firm Wells Fargo, has exited US-based network virtualisation developer Pertino following its acquisition by software-defined networking producer Cradlepoint.
Financial terms of the deal have not been disclosed.
Founded in 2011, Pertino has created technology that allows businesses to set up and operate a secure cloud-based network by using third-party services such as Amazon Web Services, instead of investing in their own data centre hardware.
Cradlepoint’s technology…
