A start-up, headed by former Sybase executives, plans to set up in the UK in January to sell its real time, fault tolerant middleware to the telecommunications and financial services markets.
Softwire?s UK office will act as the firm?s European headquarters and will sell its Distributed Services Environment (DSE) product when it is shipped in April next year. A software developers' kit was released to the company?s partners last month.
Softwire was set up in Larkspur, California by Allan Lees, Softwire?s president and formerly Sybase?s director of messaging technologies; along with Dan Sifter, chief executive officer and former chief architect at Sybase?s connectivity products group, and George Timmes, former vice president of Sybase?s telecommunications business group.
Lees described DSE as a software backplane that developers could either use as the basis for building new applications or to add new functionality to legacy applications without having to recode them. It could also be deployed as connectivity software to hook legacy packages up to newly-developed ones.
?Our primary target markets will be telecomms, followed by financial services for DSE. But, it?s difficult to describe the technology. It?s like client/server in the early 1980s - the industry doesn?t have a term for it. In fact, we?re talking to analysts like the Patricia Seybold Group to try and come up with something suitable,? Lees said.
But Softwire, which was only set up in February, is already attracting interest among such companies as Informix, which is currently the organisation?s largest single IT company investor.
It obtained its first round of financing in March when venture capitalists, Crosspoint Venture Partners and Sevin Rosen Funds, put in $600,000. A second round, amounting to $4.6 million, followed in March, and Softwire is currently in the middle of negotiating a third tranche of $3 million with several other potential investors.
The final investment round is likely to take place in the first half of next year, when further major corporate partners will be sought.
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