Enterprise Software - Friday, January 6, 2006
Quokka Sports Founder Cashes In Again
In the deal of 2006 to date, Computer Associates paid $375M for Brisbane, CA-based Wily Technology. Wily makes programs that analyze problems in company software applications while they're running.
Dick Williams, CEO of Wily, previously was founder and CEO of Quokka Sports. Quokka raised a ship-load of VC money, had an IPO in 1999, then spent all of its cash on office, satellite phones and global correspondents to cover obscure sporting events.
Now Williams has returned to his roots - boring, lucrative enterprise software - and has made a very nice return for himself and his venture backers - led by Accell Partners and Greylock. It appears that Wily has had $72M in revenues in the past 12 months, so $375M in cash is a sweet multiple.
Read - CA to Buy Wily Technology for $375 Mln, Adds to Spree (Bloomberg)
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