The purchase price was undisclosed.
Black, a co-founder of True, said the firm was Syncplicity’s primary backer and invested nearly $7 million in the company, which was founded in November 2007. Black declined to reveal the return on the investment to True Ventures, but he told peHUB via email: “The good news here is that all shareholders are making good money. Founders, employees, friends and family and VC investor all can count this as a ‘win.’”
Syncplicity announced the acquisition on its blog in a post signed by co-founders Leonard Chung and Ondrej Hrebicek and CEO Karen White. The post says Syncplicity will be a “wholly owned subsidiary of EMC” and that the Syncplicity team “remains intact” and will be part of EMC’s Information Intelligence Group.
The trio also wrote: ”We’d like to take this opportunity to thank our investor, True Ventures, for being a vital part of our journey and success. Their spirit of entrepreneurship, community of founders, endless support and unique thought leadership has been an inspiration.”
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