SAIC Buying Forterra Systems Assets
SAIC (NYSE: SAI) has agreed to buy the online interactive virtual environment product line (Olive) of Forterra Systems Inc., for an undisclosed amount. Forterra has raised around $65 million in VC funding from firms like GC&H Investments, Sutter Hill Ventures, JVP, In-Q-Tel and Stanford University. Late last month, it reportedly laid off approximately half of its workforce, in anticipation of a sale.
1 February 2010•2 mins read
