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May 28, 2009

SiCortex Closes Doors, Seeks Buyer

Maynard-based computer firm SiCortex has gone out of business and is seeking bidders to purchase the company.

Mass High Tech is reporting that the company has let go the majority of its staff and ceased operations Wednesday. A phone message to Chris Stone, the company's CEO, was not returned this morning.

According to a legal notice posted to the Blog of Intellectual Capital, the company has retained California-based Gerbsman Partners "to solicit interest in substantially all of SiCortex's assets," including its intellectual property, customer base, contacts, sales pipeline and company equipment. The company's offices are in Clock Tower Place in downtown Maynard.

The venture-backed company was founded in 2004 and has raised $68.1 million from Flagship Ventures, Polaris Ventures, Prism Ventures, JK&B Capital and Chevron Technology Ventures.

In the legal notice, the company is said to favor a "prompt, efficient transaction."

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