Stanford has exited open source software-focused cybersecurity company Palamida, which had raised $18.5m in funding, in an acquisition by Flexera Software.
Software application management company Flexera Software acquired US-based open source software management technology provider Palamida for an undisclosed amount yesterday, giving an exit to Stanford University.
Founded in 2004, Palamida provides cybersecurity technology that helps businesses identify, keep track of and manage open source software. It will be incorporated into Flexera’s range of software installation and vulnerability management products.
Conglomerate Mitsui led Palamida’s $8m series B round in 2006 through its Mitsui & Co Venture Partners unit, investing together with Hummer Winblad Venture Partners and Walden Venture Capital. The three returned for a $5.5m round two years later.
Walden and Hummer Winblad had previously taken part in a $5m series A round in 2004 together with Stanford University.
Jim Ryan, president and chief executive of Flexera, said: “This acquisition is a natural fit for us, extending our ability to help customers manage the compliance and security risk inherent in the under-managed, uncharted world of open source software components.”
– A version of this article first appeared on our sister site Global Corporate Venturing.
