Monday, October 18, 2010

Portland's ELC Technologies Acquired

Portland-based ELC Technologies, a developer of Internet, mobile, and cloud computing software, has been acquired, according to the firm. ELC said it has been acquired by a group of investors that include Kamran Pourzanjani, who was the former co-founder and CEO of Internet comparison shopping site PriceGrabber.com, and also Omid Rahmat, former CEO of Internet technology publication Tom's Hardware. Financial terms of the deal were not disclosed. ELC said that Rahmat has been named CEO of the company as part of the acquisition. ELC's CEO, Jonathan Siegel, has become a venture partner at venture capital firm Accel Partners, in London.