In what appears to be a win for several venture firms, API management company Mashery has agreed to sell itself to Intel, as first reported by Read Write Web and subsequently confirmed by other media outlets.
The sales price was not disclosed, but TechCrunch is reporting that a “source” says Intel will pay “more than $180 million.” RWW speculated that Intel would pay in the range of $120 million to $180 million.
If the price is north of $100 million, then the sale will produce a good outcome for Mashery’s investors.
The company, founded in 2006, has raised $32.45 million from .406 Ventures, Cisco Systems, First Round Capital, Formative Ventures, OpenView Venture Partners and SoftTech VC, according to Thomson Reuters (publisher of peHUB).
Mashery’s most recent round was in May 2012, when it raised $10 million at an undisclosed valuation from lead investor OpenView and Cisco, First Round, Formative and .406, Thomson Reuters reports.
About one year earlier, OpenView led an $11 million round with a post-money valuation of $50.96 million, according to Thomson Reuters. The other participants in the round were Cisco, First Round, Formative and .406.
First Round, SoftTech and Dave McClure, founder of 500 Startups, seeded Mashery with an undisclosed amount in June 2006, then First Round invested $700,000 in a Series A in January 2007, according to Thomson Reuters.
Mashery, the world’s leading provider of API Management technology and services, helps securely power 62,000 apps for more than 175 top brands—including USA TODAY, Comcast, Dun & Bradstreet, Coca-Cola Enterprises, Aetna, CapitalOne and Expedia. Only Mashery offers enterprises a PCI-DSS Compliant API Management platform to build API-powered platforms for opening new distribution channels, speeding time-to-market, and spurring innovation. Mashery focuses on API success, from crafting platform strategy and setting business objectives, to managing API delivery and facilitating relationships with a network of 200,000 developers. Mashery was founded in 2006.