Enterprise Software - Wednesday, January 9, 2008
The Philippines' Exist Global Buys LA's DevZuz
We have reported on Marina Del Rey-based DevZuz last April when it won $9.25M from Mission Ventures and Redpoint. The startup was formerly known as Simula Labs, which invested in a variety of open source projects. Last Spring DevZuz sold its interest in one of its portfolio companies - LogicBlaze to IONA Technologies.
DevZuz offers tools, libraries, and a community-based portal for serving open source projects. The company plans to make money via consulting, and service/support subscriptions. The company is led by Winston Damarillo who was a VC with Intel, before founding early open-source software startup Gluecode Software, which was bought by IBM.
Now DevZuz has been bought by another VC-backed, open source firm - Exist Global. The amount of the buyout is not disclosed. Exist Global is in a similar business but has a higher head-count with 150 employees.
View - DevZuz site
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