A more likely scenario is that whoever put up the funds for the start-up did so as a short-term investment, i.e. this was all planned from the beginning. This is pretty standard venture capital business. You start a company, establish a revenue stream, then sell for some multiple of EBITA. A more risk-averse, but higher-revenue investment firm/company will take over for the 10%/year margin. This is usually a 3-4 year process, so I think that fits fairly well, although I don't recall exactly when they started.
All the other speculation about this sale makes less sense.