![]() ![]() In the meeting, Thompson told Virtual Instruments employees he was so confident the deal would be finalized that he decided to take a couple days off to indulge in one of his favorite pastimes, duck hunting. ![]() But three sources with knowledge of the matter told CRN the deal involved selling a majority stake in the San Jose, Calif.-based startup to a firm that specializes in acquiring distressed assets and turning them around. 30, didn't specify what kind of deal Virtual Instruments had in place or identify the other party. But after a series of meetings with potential investors, and the startup's creditors and board of directors, Thompson thought he and his team had struck a deal that would provide a solution to Virtual Instruments' problems.ĬEO Thompson, in an all-hands meeting with Virtual Instruments employees on Oct. ![]() Virtual Instruments, a Silicon Valley-based startup led by Microsoft Chairman John Thompson, faced a serious cash crunch last month after missing its sales targets for the past two quarters. ![]()
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