News :: Go Back ::
A divine End
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.
:: Go Back ::