Intrinsic, an IT security startup with serverless execution capabilities backed by Stanford-StartX Fund, has been bought by enterprise software publisher VMware.
Intrinsic, a US-based IT security software startup backed by Stanford-StartX Fund, the VC vehicle allied to the university’s StartX accelerator, has been acquired by enterprise software publisher VMware, CNBC reported on Tuesday.
The terms of the transaction were not disclosed.
Intrinsic’s product includes what is known as serverless features – tools that automatically prompt certain actions in response to certain events depending on preferences the client has defined within the software suite.
VMware’s acquisition is considered a boost for its efforts to engage cloud-based software models, building on its core competence of products executed from the enterprise’s own data servers.
The Intrinsic website identifies Stanford-StartX Fund as a backer alongside venture capital firms New Enterprise Associates, Andreessen Horowitz and First Round Capital. However, full details of their involvement have not been disclosed.