Venture capital firms Jafco Ventures, Matrix Partners, Menlo Ventures, and Sevin Rosen Funds have sold their stake in Solidcore Systems to McAfee.
Venture capital firms Jafco Ventures, Matrix Partners, Menlo Ventures, and Sevin Rosen Funds have sold their stake in Solidcore Systems to McAfee.
McAfee is a supplier of computer security solutions, while Solidcore is a provider of information technology control solutions.
The venture capital firms have agreed to sell their stake for approximately USD33m and an additional performance based earn-out of approximately USD14m.
Upon completion of the transaction, Solidcore will be integrated into the McAfee risk and compliance business unit.
The acquisition is expected to close in the second quarter of 2009.
Jefferies is acting as financial adviser to Solidcore.
