UK start-up, Adaptive Solutions for Business, formally launched itself in the UK market this week, offering Year 2000 and business modelling tools.
The company, which was set up on 1 January after a management buy-out from Abbey National, received a #375,000 cash injection from venture capitalists, 3I. Abbey National still retains a small equity stake.
Andrew Walker, Adaptive?s sales and marketing director, said he hoped to take the company public within the next year or so, with a flotation likely on either the Nasdaq or Aim exchanges. The money raised would help take the firm into the US market and fund global expansion.
The firm has started selling its Adaptive-Enterprise product direct to corporates, but is in the process of building up a Var and consultancy channel to sell its Adaptive-2000 offering.
Both products are based on Unisys? object repository, which resides on a Unix or Windows NT server, and Visigenic Software?s object request broker.
Adaptive-Enterprise is a Windows 95 or NT Workstation-based application that enables users to model change within their organisation. It helps users to establish relationships between entities such as people and processes and see how change affects those relationships.
Adaptive-2000 enables users to create Year 2000 inventories and build up a picture of the scale of their problem. Both applications start at #25,000, depending on the amount of customisation required.
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