Meiosys sold to IBM

IBM has bought Meiosys, the French software company, from its venture capital backers. Meiosys, which has a software solution for assuring high availability for mission-critical applications, for example with financial applications or for controlling production systems, was until May 2003 funded by local seed investors in Toulouse, France.

The in May 2003 the company received a E5.5m investment from Wellington Partners, Partech International and Cisco Systems. They were subsequently joined in a funding round in 2004 by venture capital firms, Alven Capital, BayTech Venture Capital Beratungs GmbH, CPR Private Equity, Credit Lyonnais Private Equity, Siparex Group and Sudinnova

The price for which IBM has bought the business has not been disclosed.