MapR Says It’s Close to Deal to Sell Company

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MapR, which recently warned that it may have to lay off more than 120 people after funding fell through following an unexpectedly poor first quarter, has signed a letter of intent to sell the company. The potential inquirer is now doing its due diligence, according to a letter MapR filed with Santa Clara County, California.

“The company is continuing to pursue a strategic transaction that if successful may allow it to avoid the Santa Clara Closing,” MapR Technologies Vice President of Human resources Cindy Arthur wrote in a WARN letter last week. “In connection with these efforts, MapR signed a letter of intent with a potential acquirer and the acquirer is currently in the due diligence of the company’s business.”

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