Privately held companies have it easy: they can vaguely boast of double-digit growth, record profits, strong cash balances and bright futures even when reality seems to suggest otherwise. At least that seems to be the case with Nashua, N.H.-based Ektron.
The web content management firm, which was consistently ranked one of the fastest growing tech companies in New England in the early 2000s, seems to have come to a stunningly disappointing end.
(UPDATE: Ektron confirmed to CMSWire this afternoon that it closed a second round of equity funding with Accel-KKR, but stopped short of acknowledging a sale.
In a conversation with CMSWire’s Virginia Backaitis, Ektron President Tim McKinnon claimed the company is profitable and growing — and contended that rumors of its demise are greatly exaggerated.
In a press release issued mid-afternoon today, McKinnon stated that the Accel-KKR investment "provides strong support for Ektron as it delivers upon its vision and mission to provide solutions to customers," and adding that the company is "well positioned for continued growth in 2015."
Greg Williams, managing director at Accel-KKR and a member of the Ektron board, noted in the statement that the private equity firm has been "more than impressed by the momentum, profitable growth in the business and the results the team at Ektron have been achieving."
The press release contains no comments from — or makes any mention of — Ektron CEO and co-founder Bill Rogers.)