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Networking - Wednesday, June 13, 2007

Having Raised $110M, Email VPN Security's Aventail Sold For $25M

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SonicWALL (Nasdaq: SNWL) has acquired Seattle-based, Aventail, which sells SSL VPN remote access products. It paid about $25M in cash. Aventail has raised funding from a long, long list of investors including strategics: SAIC, Verisign and InterNAP. It had raised $110M since it was founded 11 years ago.

Clearly the company did not live up to its hype. To be fair, Aventail did sell off a profitable business unit in 2005 for an undisclosed amount. So investors are in the red a bit less but we are sure that the sale did not make them whole. Investors must be happy to get this one off the books.

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