@Ventures Portfolio Company Realm Business Solutions, Inc. Is Acquired
Waltham, Mass. - March 30, 2006 -- CMGI, Inc. (Nasdaq: CMGI) announced today that @Ventures, its venture capital business, has received $6.0 million in initial cash proceeds resulting from the acquisition of one of its portfolio companies. Realm Business Solutions, Inc., a portfolio company in which @Ventures held a minority investment, was recently acquired by Insight Venture Partners and Lightyear Capital. In connection with the transaction, @Ventures expects to receive up to $2.0 million in additional proceeds, assuming there are no claims against funds currently held in escrow.
Realm Business Solutions, Inc. licenses software to the commercial real estate industry, providing solutions in several functional areas including asset valuation, budgeting and forecasting, property management, and lease management.