Terraspring has raised a $28 million fourth round of funding and named former IBM executive Ian Bonner as its chief executive. Bonner, former IBM vice president of global business partner marketing, set up Big Blue's software distribution model in the early 1990s. Fremont, Calif.-based Terraspring provides software that allows companies to monitor and re-allocate their computer processing power to areas within the company where it is most needed. Investors in this latest round include Accel Partners, EMC, Hewlett-Packard and Mohr Davidow Ventures.
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