Intel announced it has acquired Neocleus, an Israeli-based PC virtualization firm, for "a few hundred thousand dollars".
Neocleus was bought for few hundred thousand dollars, which is less than the Intel CEO Paul Otellini's entertainment cabinet budget. The company's 15-20 employees will join Intel Israel's R&D center.
Neocleus CEO Ariel Gorfung and CTO Etay Bogner founded the company in 2006. However, it did not end up doing very well. Over the years, its investors poured $22 million into the outfit. Most of the investment was by Battery Ventures and Gemini Israel Funds, who are unlikely to see any of their money back.