As 3Com Corp. plans to spin out TippingPoint Technologies, the security unit it acquired in 2005, the departed founders of that division have placed their bets on a new company that has raised an impressive $13 million. BreakingPoint Systems Inc., founded by John McHale, Des Wilson and Dennis Cox, makes network test equipment and counts several network providers as customers. The company was formed in 2005 with funds ponied up by its founders, including former TippingPoint chairman and CEO McHale, who found themselves with cash after selling to 3Com for $430 million. Last year BreakingPoint raised an angel round of capital with founders again chipping in and Austin Ventures taking a tiny stake in the company. Later this year, the startup is expected to tap institutional investors. —Stacey Higginbotham
See July 3 post from Tech Confidential
See Dec. 13, 2004, story from TheDeal.com
Tags: 3Com, private+equity, deals, acquisition, m&a, mergers
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