Objectivity plans to go public by the middle of next year to pay off its venture capitalists and enable its staff to cash in their stock options.
The object database company currently has about 60 employees, has been growing its revenues at about 10 per cent each quarter for the last two quarters and has been profitable for the last five.
Dave Caplan, Objectivity's president, said at the firm's Worldview 99 user conference in Santa Clara on Monday: "Our employees and investors expect us to go public, but we'll keep the cash in the bank because we don't need it for growth purposes."
He continued: "But diversification is a long way out - we're a long way from needing to diversify to fuel growth and we're not looking at acquisitions. Java is helping and there are more object tools available, but the skills issue is also improving because the market is more mature."
To fuel growth further, however, the firm is attempting to broaden out of its traditional reseller market to target corporate MIS departments. It is hoping to exploit interest in server side Java and claims that sales cycles have now been cut from nine months to 90 days because Java is easier to work with than the traditional object language, C++.
As a result, it is teaming with boutique systems integrators to try and penetrate the enterprise space and has already signed up Noblestar, TRW, Salient and Objectshare to provide users with object implementation skills, which are currently still in short supply.
John Myser, Objectivity's vice president of sales, said: "MIS doesn't have the ability in a lot of cases to deliver object solutions, so we're starting to unfold the capability to help them with project implementation. They haven't got the horse power or the ability to assemble a team, but we're going after turnkey projects where people want to control their complexity."
"As a result, we're expanding the current sales base because we need to go up beyond the technical wizards we currently sell to to target chief financial officers and we'll do that via systems integrators. Our typical prospect is either brilliant technically or desperate because their relational projects have failed," he added.
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