MapR extends deadline to raise money for continued operations

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MapR Technologies Inc. has extended its deadline to July 3 to secure new funding or find a buyer. The company had previously said it would ā€œcease operations and close the Santa Clara headquartersā€ by June 14 if it couldnā€™t raise funds.

In a statement today, MapR said it ā€œcontinues to work diligently on a strategic transaction for continued operationsā€ and that it is ā€œcontinuing to engage customers in new opportunities and supporting existing customers and partners globallyā€ in the meantime. It had previously said it was in negotiations with two potential investors. The company reported the extension under Californiaā€™s Worker Adjustment and Retraining Notification laws, which requires businesses to give affected employees and government agencies notice in advance of a plant closing or mass layoff.

To read the entire article, please click on https://siliconangle.com/2019/06/14/mapr-extends-deadline-secure-funds-continued-operations/

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