Portland cloud computing startup RNA Networks has been sold to Dell.
Terms of the sale are currently undisclosed.
Founded in 2006, RNA spent three years in stealth mode before announcing its memory virtualization technology in 2009. It aimed to make data centers more efficient by getting the most out of existing hardware and reducing the need for pricey new servers.
The Portland company started fielding unsolicited buyout offers about six months ago and then began a formal process of seeking a buyer, according to Eric Rosenfeld, a fund manager at the Oregon Angel Fund, which was an early RNA backer.
"A significant portion [of RNA's employees] will stay in Portland and Dell has committed to continue to invest in the Portland operation," he said. "The technical team has been very valuable and that's what Dell is investing in."
Read more at OregonLive.com.