Here’s the latest chapter in the tale of the Incredible Shrinking Valley, where the number of public companies continues to dwindle.
Add Castelle, of Morgan Hill, to the list of dearly departed public companies in Silicon Valley. The company has officially been delisted as of Wednesday, according a securities filing today. Though unlike many others, this at least at a somewhat happy ending. On April 26, Captaris of Bellvue, WA announced it was spend $18.2 million to acquire Castelle, which had about $7.4 million on its balance sheet.
Castelle, which describes itself as “network fax solution,” only generated $10.6 million profit in 2006, but did manage to turn a profit of $.7 million.
