Enterprise Software - Friday, April 28, 2006
Performix Salvaged By Nice
If there is one thing that VCs can appreciate it is having a soured investment end with some partial return. Today we learn that Performix Technologies has been acquired for $13M by Nice Systems, which also acquired a subsidiary of Tekelec for $200M.
Since its launch in 1998, Performix raised more than $35M in funding led byHighland Capital Partners - so $19M back after 8 years is not a great return on investment. Performix was in fact the first investment made by Highland partner Bob Davis after joining the venture firm following the $12B sale of Lycos.
Israel-based Nice is also acquiring IEX Corp., a Richardson, TX-based subsidiary of Tekelec (Nasdaq: TKLC).
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