Camelot Portfolio Company, Kintana, Acquired for $225 million
LIVONIA, Michigan, August 15, 2003 — Camelot Ventures announced today that Mercury Interactive Corporation (NASDAQ: MERQ) acquired Kintana, Inc., a Camelot Ventures' portfolio company, for $225 million. Camelot Ventures was Kintana's largest investor.
Founded in 1995, Kintana has grown steadily through the sales of an emerging suite of IT governance products. Kintana products comprise an enterprise application that brings companies real-time visibility and control over their e-business initiatives and operations. As e-business becomes a core competency for more and more companies, the need to automate IT behind e-business systems becomes a critical new requirement.
"Kintana CEO, Bryan Plug, and the entire team did an excellent job of profitably growing the company and clearly defining their value proposition in the IT governance space," said David Katzman, Managing Director of Camelot Ventures. "We enjoyed working with them and assisting them in their growth."
"Camelot was a great partner for us," said Bryan Plug. "They showed confidence in us early on and never waivered in their support. We trusted their council and advice on our major strategic initiatives."
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