Tuesday, November 20, 2007

NeoScale Looks For Buyer

Milpitas-based NeoScale, a developer of encryption devices for the storage market, is reportedly looking for a buyer for the firm. According to a report in CRN, the firm is exploring "strategic alternatives" after the bankruptcy of MTI, one of the company's largest solution providers. Neoscale is venture backed by Bay Partners, Lightspeed Venture Partners, and Sevin Rosen. The firm's product are used for securing storage area network (SAN) traffic.