ALTA A/S Receives Infusion of US$6 Million to Expand Worldwide Operations; US Subsidiary Benefits From Venture Capital Investments.Business/Technology Editors BOSTON--(BUSINESS WIRE)--Feb. 2, 2001 ALTA A/S announced that it has received US$6 million from the British firm 3i, one of the world's leading venture capital companies. The financing will enable the Danish company to grow its global business, including ALTA Software, Inc., its US subsidiary. ALTA Software, Inc. is a leading manufacturer of software tools and middleware products targeted to the Compaq NonStop Himalaya platforms. ALTA A/S supplies the next generation in Supply Chain Management (SCM (1) (Software Configuration Management, Source Code Management) See configuration management. (2) See supply chain management. ) software, PowerB2O, which enables manufacturers to tailor their products to customer requirements. ALTA A/S will mainly focus on the automotive industry The automotive industry is the industry involved in the design, development, manufacture, marketing, and sale of motor vehicles. In 2006, more than 69 million motor vehicles, including cars and commercial vehicles were produced worldwide. , but will actively support other vertical markets as well. The company, which also maintains offices in Germany, Great Britain Great Britain, officially United Kingdom of Great Britain and Northern Ireland, constitutional monarchy (2005 est. pop. 60,441,000), 94,226 sq mi (244,044 sq km), on the British Isles, off W Europe. The country is often referred to simply as Britain. , and the Ukraine, plans to open more offices in the US, in addition to branches in Japan, Mexico, France, and Italy during 2001. "ALTA's technology solutions are an excellent fit with the Compaq NSK NSK Not Specified By Kind NSK North Side Kings (band) NSK Noril'sk (Russia) NSK Neue Slovenische Kunst (German: New Slovenian Art; art collective) platform, and along with those scalable, fault-tolerant systems Fault-tolerant systems Systems, predominantly computing and computer-based systems, which tolerate undesired changes in their internal structure or external environment. , are thriving in the Internet environment," said Karim Raad, President, ALTA Software, Inc. "The investment from 3i will help ALTA A/S grow the middleware and tools side of our business, which is important to the company and to the installed NSK base," he explained. According to Tony Larsen, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of ALTA A/S, "We are on our way out into the world. We expect to double the number of our employees in the course of the coming year, and we will, of course, continue to develop our product, so that it stays the best on the market. This is only possible with a partner like 3i behind us." About ALTA A/S Founded in 1991, ALTA A/S is headquartered in Copenhagen, Denmark with subsidiaries in the US, the UK, and Germany. In 1998, ALTA received the Gazelle gazelle, name for the many species of delicate, graceful antelopes of the genus Gazella, inhabiting arid, open country. Most gazelles are found only in Africa, but several species range over N Africa and SW Asia; the Persian, or goitered, gazelle ( Award, naming it as one of the fastest growing high-technology companies in Scandinavia. ALTA's customers come from industries and businesses such as manufacturing, e-commerce, government, banking, insurance, science, and finance. During the last decade, ALTA built substantial expertise in the development and implementation of manufacturing systems, largely the result of nearly 10 years of working in the European automobile industry. About ALTA Software, Inc. Headquartered in Waltham MA, ALTA Software, Inc. is a subsidiary of ALTA A/S. ALTA provides its customers solutions that enable them to participate in the Internet revolution while using the most scalable, fault-tolerant platform on the market today. ALTA Software currently offers Client Server Link (CSL (Computerese as a Second Language) Said of people who love to speak high-tech words even though they often use them erroneously. See TLA. 1. CSL - Computer Structure Language. A computer hardware description language, written in BCPL. ) and the Matterhorn product suite for the Compaq NonStop Himalaya platform. For more detailed information regarding these products, please visit http://www.ALTA-USA.com |
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