KUHN CAPITAL Thursday, October 19, 2017
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A divine End

May 13

Finally, we can stop reporting on the soap opera formerly known as Saratoga Partners bought the primary assets -- divine's managed services business and its OpenMarket intellectual property for about $26 million. Saratoga then sold the content management chunk of this purchase to FatWire for $5 million.

Little Bear Investments in New York took divine's remaining portfolio investments for $410,000. Of this amount, LaunchWorks, a former divine portfolio company, will buy back its stock from Little Bear for $200,000, according to an informed source. Another portfolio player, Outtask, bought its equity back from the court for $800,000.

So divine -- costing investors billions, enriching Andrew "Flip" Flipowski in the millions, and tarring Chicago's tech investor communitywith a giant bozo brush -- fetched at auction about $27 million. As Bill Clinton used to say, it's time to move on.


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