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Bellevue's Intelligent Results, a maker of business intelligence software that is backed with more than $20 million from OVP Venture Partners, Ignition Partners and Menlo Ventures, has been sold to First Data Corp.
Terms of the deal were not disclosed, though a spokeswoman at OVP said that the Kirkland venture capital firm will make money on the deal.
Intelligent Results was founded in January 2001 by six former Amazon.com technologists, including Briant Lent (now CEO of Medio Systems) and Kelly Pennock (the current CEO).
The press release quotes Pennock as saying that the acquisition will help the company develop products faster and leverage First Data's presence in the market. Omaha, Nebraska-based First Data, with revenue of $7.1 billion last year, provides e-commerce and payment solutions to businesses.
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Posted by unregistered user at 2/21/07 2:49 p.m.
Curious to know the fate of the Bellevue facility... They going to have to move to Omaha?