NetEffect Fire Sale Complete

Another one of the Austin Emerging 100 bites the dust today, as the deal with NetEffect and Intel gets completed for $8M. Last month NetEffect filed for bankruptcy protection as part of a deal to sell to Intel for $8M. Other bidders were invited, but since the Intel deal is closing we assume there weren’t any better bids for the company. Formerly known as Banderacom, venture investors poured over $47M into the company over two rounds of financing. Venture investors included Austin Ventures, TL Ventures, Granite Ventures, Jatotech Ventures, Infinity Capital, Duchossis Technology Partners, and Texas Instruments.

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About Bryan Menell

Bryan is the Managing Editor for AustinStartup and the Director of the Collaboratory at Dachis Group. He is a co-founder of Capital Factory, on the board of Texchange, and runs the popular Austin Tech Happy Hour with his wife. He advises early stage technology companies including Socialware, SpeedMenu, and AudiencePoint.

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