Palo Alto, California headquartered Aduva, an enterprise systems management developer specializing in Linux systems, has completed a $14 million private placement. American BMC Software (NYSE:BMC), the fifth largest software provider in the world, and the Intel 64 Fund led the company's second financing round.
Existing Israeli investors in the fund, Evergreen Canada Israel Investments, CAP Ventures and Capital Group Israel also took part in the round. In August 2000 Aduva raised $6 million according to a post money value of $18 million. Evergreen led Aduva's first financing round with a $4.5 million investment. Capital Group and CAP Ventures invested in Aduva in its $1.8 million seed round.
As part of the investment, BMC Software signed an OEM agreement with Aduva, which will include existing products and new products to be jointly developed by the two companies. Business software developer BMC, which is traded on Wall Street according to a $5.2 billion market cap, was given the right to market Aduva's Linux products, including the BMC-Aduva jointly developed products for the IBM zSeries.
Aduva developed an automatic solution management system, which significantly reduces the cost of installing, supporting and maintaining Linux based systems in organizations.
Israeli entrepreneurs Ury Segal, Shlomo Weintraub, Nir Carmel, Asaf Greiner, Izar Tarandach and Ilan Shofar founded the company in October of 1999.