A consortium of venture capital firms has sold its stake in Intelliden, a provider of networking solutions, to information technology company IBM.
The consortium includes 3i Group, GGV Capital (formerly Granite Global Ventures), Matrix Partners, Telus Ventures and Westbury Partners.
Following the completion of the transaction, Intelliden technology will be integrated into IBM Tivoli Software.
The acquisition will further strengthen IBM’s service management portfolio by offering solutions for automation and optimisation of digital and physical assets, which includes full-service lifecycle management of network devices, IT, data centre and physical assets such as water mains, railway cars and door locks.
