Oracle announced last Friday that it has acquired StackEngine, a year old Austin-based startup focused on cloud computing.
All of the employees of StackEngine will join Oracle, the company announced. The financial terms of the deal were not disclosed.
Last October, StackEngine, a platform for Docker apps, announced it had raised $1 million in seed funding from Silverton Partners and LiveOak Venture Partners. In June of this year, the company raised $3.5 million in a Series A round.
Bob Quillin, Eric Anderson and Robert Gordon, formerly of CopperEgg, Hyper9 and VMware, founded the company.
StackEngine’s sale to Oracle is the first exit for LiveOak Venture Partners, a $109 million venture capital firm based in Austin.
“This is a great outcome for the team, the investors and the Austin technology community at large,” Krishna Srinivasan, co-founding general partner at LiveOak Venture Partners and previously a board member at StackEngine, said in a news release. “StackEngine perfectly fits the mold of us being the first institutional investors behind visionary entrepreneurs who disrupt the status quo with exciting technologies here in Texas. We look forward to many more exciting outcomes from the 13 companies in our portfolio and future investments.”
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