Venture Firm Makes Its Largest-Ever Commitment To IT Roll-Up Strategy
Salt Lake City's vSpring Capital may be a venture firm, but its largest-ever investment looks a lot like a buyout. The firm has backed Sparxent, a comprehensive IT provider, to enact an aggressive roll-up strategy that will increase its revenue run rate to $100 million over the next six months. This afternoon, the company announced its third acquisition, XAware, a real-time data integration open source company. Prior to that, it acquired two companies called NetworkD Corporation and Arbyte Group. The company plans to announce more deals in May and June. As the Sparxent's only source of outside cash, vSpring Capital provides the company with
6 May 2009•2 mins read
