Raleigh-based business software company rPath, which has raised more than $30 million in venture capital, has sold assets to industry giant SAS and is in the process of shutting down its operations.
SAS, which is headquartered in Cary, announced Friday that it has acquired technology from rPath for an undisclosed sum. SAS also has taken on 19 rPath employees as part of the deal, said SAS spokeswoman Shannon Heath.
RPath, which was formed in 2005 by two Red Hat alumni, approached SAS about acquiring some assets as part of its wind-down, Heath said.
“Now that we have acquired their technology, they are going to continue to wind down their operations as previously planned,” Heath said.
“We’re not acquiring the entire company,” Heath added. “They will remain independently owned and their specific plans...are not available to us right now.”
RPath CEO Mike Torto couldn’t be reached for comment. The company’s technology enables corporate information technology departments to more easily access and manage their software -- regardless of whether that software is in a physical, virtual or cloud environment.
If you try to go to rPath’s website, www.rpath.com, you end up being directed to the press release about the acquisition on the SAS website.
Heath said she didn’t know how many employees rPath had. As of last December, the company had about 50 employees, including 45 who were based in Raleigh.
SAS said that with rPath’s software code and the employees it has taken on, it can “better automate the set-up and management of SAS solutions in any virtual environment.”
“Our customers are telling us that the cloud and other virtualization platforms are critical technologies for them, and they want greater use of SAS throughout their organizations,” Keith Collins, chief technology officer, said in a statement.
The rPath employees will form a new platform deployment technology group within SAS’s research-and-development operations.
Corporations, government agencies and others use SAS business intelligence and analytics software to analyze their operations and predict trends. The company has more than 5,000 workers in Cary and more than 13,000 worldwide.