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Spinoff Doctors

VC firm frees and rehabilitates small tech firms languishing inside large companies.

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This story appears in the November 2004 issue of Entrepreneur. Subscribe »

One of the great dramas of the 1990s was watching large companies race to get larger through mergers and acquisitions. The lure of hot new technologies and plentiful cash from the public markets combined to create a tidal wave of M&A activity, especially among the new-technology giants like Cisco Systems, Intel, Microsoft and Network Associates Technology.

Many of those acquisitions, of course, did not work out as planned. And now those acquisitive parent companies are finding themselves burdened with underperforming divisions or product lines.

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