Cloud provider Cassatt sells out to CA to avoid bankruptcy

Cassatt, the San Jose, Calif.-based provider of cloud computing environments, has sold its assets to public IT management firm CA for an undisclosed sum. The company has been in trouble for a while now, announcing its intentions to find a buyer back in April after burning thround $100 million in venture capital.

CA will also inherit select employees from Cassatt. The cloud company had been backed by Hewlett-Packard, In-Q-Tel, New Enterprise Associates, Portcullis Partners, Quatris Fund and Warburg Pincus, reports VentureWire.

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