The former chief executive officer of MTM Technologies Inc. has raised $10 million in initial financing to acquire a Shelton company that sells “virtualization” information technology.
The buyout of Computer Resolutions Inc., now known as CRI Technologies Inc., was funded by Commonwealth Capital Ventures and Sigma Partners, both based in Massachusetts.
CRI sells VMWare systems that provide a centralized view of disparate computer servers, along with systems to back up computer data. CRI customers have included ESPN, Northeast Utilities, Pfizer Inc. and Yale University.
Besides its Shelton headquarters and a Bridgeport warehouse, CRI has offices in New York City, Randolph, N.J., Rochester, N.Y., and Brookline, N.H.
CRI CEO Howard Pavony previously led MTM, a Stamford company that manages a range of IT systems for midsized corporations. He stepped down as CEO after the company accepted financing from Pequot Ventures, which has a Westport office.
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