appfog1Portland platform-as-a-service startup AppFog is set to be acquired by Savvis, the big co-location and data center operator that’s owned by CenturyLink, according to a report in GigaOm.

Terms of the deal were not disclosed. But it could mark an exit for three Seattle venture capital firms — Ignition, Madrona Venture Group and Founder’s Co-op. Together, they invested $8 million in AppFog in 2011.

AppFog’s technologies allow developers to more quickly build applications hosted in the cloud. Mike Rogoway at The Oregonian reports that AppFog was looking for an exit, while GigaOm notes that the company recently “narrowed its focus” after dropping support for Rackspace.

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