Appistry Announces First Close of Series C Financing.Former Sallie Mae Sallie Mae: see SLM Corporation. 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. Larry Hough n. 1. Same as Hock, a joint. v. t. 1. Same as Hock, to hamstring. [ imp. & p. p. os> r>; p. pr. & vb. n. os> n. 1. An adz; a hoe. v. t. 1. To cut with a hoe. to Join Board of Directors ST. LOUIS -- Appistry, a leading provider of highly-scalable application platform software, today announced the close of the first tranche of a Series C financing round lead by Stuart Mill Venture Partners. Lawrence A. Hough, managing director of Stuart Mill and former president and CEO of Sallie Mae, has been elected to the Appistry board of directors. Proceeds from this round will be used to finance an expansion of sales, marketing and product development in support of the company's leading grid-based application platform product, Appistry Enterprise Application Fabric (EAF EAF - Effort Adjustment Factor ). Appistry EAF dramatically simplifies the development, deployment and management of highly scalable and reliable software applications for extreme transaction processing Updating the appropriate database records as soon as a transaction (order, payment, etc.) is entered into the computer. It may also imply that confirmations are sent at the same time. Transaction processing systems are the backbone of an organization because they update constantly. (XTP (Xpress Transfer Protocol) A research transport protocol designed by Greg Chesson of SGI. Designed for high-speed networks, it provides services at layers 3 and 4 of the OSI model. ), software-as-a-service (SaaS), cloud computing (1) Running applications in or from network servers. Computing "in the cloud" may refer to a company's own network, but often refers to the Internet and the use of Web browser-based or rich client applications. , and other data- and CPU-intensive applications while substantially reducing data center energy consumption. "This round comes at an exciting time for Appistry," said Kevin Haar, Appistry chief executive officer. "So far this year we've already doubled last year's sales, delivered a significant new version of our core product, welcomed the first 1,000 members to our Peer2Peer Developer Community, signed a strategic relationship with an existing customer, and been recognized yet again by Gartner for the visionary role we play in our market. The additional capital we've raised will allow us to accelerate this momentum." "Moreover," continued Haar, "the deep experience Larry Hough brings to our board in the financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. and transportation sectors will be invaluable as we continue to grow our business." Mr. Hough is currently managing director of Stuart Mill Venture Partners and chairman of Stuart Mill Capital, Inc, a Virginia-based management firm that he founded. Prior to forming Stuart Mill Capital in 1997, Mr. Hough worked with Sallie Mae for 25 years, where he served as president and CEO from 1990 to 1997. Under his leadership, Sallie Mae became the first government-sponsored enterprise to relinquish its federal charter in return for full independence. "A challenge I've seen repeatedly in my career is the difficulty of creating highly-scalable software applications for processing large volumes of information or serving Internet-scale user communities," said Hough. "Appistry's products solve this increasingly pervasive problem, enabling enterprises to more easily build and manage large-scale, mission-critical software applications. The company has demonstrated remarkable vision and execution to date, and we're excited to help it achieve its next level of growth." About Appistry Appistry's flagship product A primary product of a company, which is typically why the company was founded and/or what made it well known. For example, MS-DOS, Windows and the Microsoft Office suite have been flagship products of Microsoft. CorelDRAW is a flagship product of Corel Corporation. , Appistry Enterprise Application Fabric, dramatically simplifies the process of developing, deploying and managing highly scalable and reliable applications. With Appistry EAF, data- and CPU-intensive software developed using technologies like Java, Spring, .NET or C/C C/C Center to Center C/C Combustion Chamber C/C Command/Control C/C Crew Chief C/C cabin cruiser (US DoD) C/C chief complaint (medical) C/C Channel-to-Channel C/C Communication and Collaboration ++ can be easily scaled-out across a virtualized "grid" of inexpensive servers. As a result, Appistry customers such as FedEx, Northrop Grumman and GeoEye are able to quickly and inexpensively bring new capabilities to market with the agility, scale and reliability demanded by their businesses. To download the free Appistry EAF Community Edition, visit www.appistry.com/go/community-edition. For more information, visit www.appistry.com, or call 888-APP-0111 (888-277-0111). |
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