TORONTO, Feb. 27 /CNW/ - VentureLink LP, manager of the VentureLink Group
of labour-sponsored investment funds, with over $270 million in assets under
management, today announced it will exit its investment in PlateSpin Ltd
('PlateSpin'), following the completion of an acquisition by Novell, Inc. The
transaction is expected to close before the end of April, 2008 subject to the
satisfaction of closing conditions.
The combination of Novell's platform and automation management with
PlateSpin's leading solutions for workload relocation, protection and
provisioning will give customers the agility to cross physical and virtual
boundaries so IT can work together. PlateSpin has helped thousands of
customers worldwide accelerate their server consolidation and disaster
recovery projects by enabling freedom of movement between physical servers,
virtual machines and image archives.
In 2003, the VentureLink Brighter Future Fund invested $1.3 million in
PlateSpin and is the 3rd largest shareholder. Jim Whitaker, Managing Partner,
VentureLink LP said "Stephen Pollack and the team at PlateSpin have done a
terrific job of developing innovative products to support the use of server
virtualization in the data center. PlateSpin's growth from its inception with
a team of 11 to a multi award winning Canadian technology company with over
185 employees is very impressive"
With over $270 million under management, VentureLink Funds are a diverse
group of labour-sponsored funds ("LSIF"). The VentureLink Brighter Future
Fund's investment objective is to achieve long-term capital appreciation by
making primarily equity investments in a diversified portfolio of securities
of eligible businesses.
The company maintains a strong relationship with CI Financial Inc., who
performs client services and client account administration for the Funds. For
more information, please visit: www.venturelinkfunds.com.
About PlateSpin Ltd.
PlateSpin develops software technology that enables centralized and
remote configuration installation, rapid deployment and life-cycle management
of server software and hardware.
PlateSpin enables easier installation and management of server
virtualization helping reduce IT capital, HR and energy costs.
For more information, visit: www.platespin.com
For further information:
For further information: Jim Whitaker, Managing Partner, VentureLink LP,