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 “cease operations and close the Santa Clara headquarters” by June 14 if it couldn’t raise funds.

In a statement today, MapR said it “continues to work diligently on a strategic transaction for continued operations” and that it is “continuing to engage customers in new opportunities and supporting existing customers and partners globally” in the meantime. It had previously said it was in negotiations with two potential investors. The company reported the extension under California’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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