Thursday, April 20, 2017
Dell EMC Spins Out Spanning In Deal With Insight Venture Partners
Austin-based Spanning Cloud Apps is an independent company, once again, only two years after its acquisition by EMC. Spanning, which is a provider of backup for cloud-based applications, was acquired by EMC in October of 2014. Spanning has been acquired by Insight Venture Partners, and will become a new, independent company. Financial terms of the spinout were not announced. Spanning will be run by former CEO Jeff Erramouspe, who was most recently VP and General Manager at Spanning. The reason for the spin of Spanning back out as an independent company was not announced by the company.