Thursday, February 11, 2010
Austin Tech Incubator Trumpets Exits
The Austin Technology Incubator is trumpeting its recent exits today, saying that four alumni companies of the incubator--Phurnace Software, Lombardi, eVapt, and Logical Information Machines--are all alumni of the incubator. Phurnace was acquired by BMC in January, IBM bought Lombardi in December, eVapt was recently acquired by MagnaQuest, and Logical Information Machines was acquired by Morningstar. Lombardi's roots came out of OpenPlus, which was in the ATI. The incubator's latest exit, Phurnace Software, came out of an effort by UT Austin students Robert Reeves and Daniel Nelson, who tapped the ATI in 2006 to help it raise capital.