Wednesday, March 17, 2010

Evri Raises $349K Related To Twine Acquisition

Seattle-based Evri, a developer of semantic web search tools, has issued $349,203 in equity, as part of its acquisition last week of Radar Networks, the operator of Twine.com. The details came through a regulatory filing by the firm Wednesday afternoon. It's unclear if the funding came as part of an investment to buy Radar Networks, or if the shares were issued to Radar as part of the acquisition. The filing indicates the size of the equity issue is targeted at $552,330. Evri announced that it bought Evri on March 10th, but did not disclose any financial behind the deal. Evri is backed by Vulcan Capital.