Investors provide an additional £1.7m in venture funding
LONDON - 8th May 2001 - Adaptive Ltd today announced that it had secured an
additional £1.7m in venture capital funding to help finance the expansion
of its business. The expansion will have a particular focus on sales and
marketing activities, in-order to maximise on the opportunities presented
by the need of global organisations for solutions to help manage the
complex integration of their business and IT functions.
As a developer of repositories and repository tools, Adaptive specialises
in helping global businesses to remain agile and respond faster to market
changes, whilst reducing costs and minimising risk. These results are
achieved through the rapid implementation and deployment of Enterprise
Repository solutions to address common business problems.
The investors, who are led by specialist IT investment and advisory company
Interregnum plc, include 3i and Abbey National.
"Adaptive's approach of applying its technology to solving real-world
business problems, particularly in the areas of Enterprise Architecture,
Component Based Development and Data Warehousing/Meta-Data Management, is
particularly appealing. In today's world, technology purchases are
increasingly based on real business benefits and the value proposition
offered by Adaptive should certainly appeal to both CIO's and CEO's
concerned with minimising risk and maximising the return on existing
assets," commented Graham Ransom, Managing Director, Venture Marketing at
Interregnum plc. "Adaptive has selected an excellent time to expand its
operations. Global organisations are seeking the tools and expertise to
help manage the complex integration of their business and IT functions.
Without this integration, the productivity increases promised by
Information Technology often remain unrealised."
"To secure such funding in today's difficult market is a real boost to the
team at Adaptive and sends a strong signal to the market," said Adaptive's
Managing Director, Colin Fox. "We have been fortunate enough to secure the
services of a number of leading professionals to strengthen our management
team and now look forward to being able to execute on our strategies for
This investment comes only weeks after the company announced that it had
acquired UREP repository source code rights from Unisys and that Unisys had
taken an equity position in the company.
About Adaptive Ltd
Adaptive Ltd (www.adaptive.com), formed in 1996, is a supplier of products
and services to organisations deploying or developing an Enterprise
Repository. This technology allows customers to manage complex information
from disparate sources by providing impact analysis, traceability and
enterprise architecture management. Adaptive customers include Abbey
National, Credit Suisse, Dun & Bradstreet and Royal & SunAlliance.
The Adaptive Framework product set enables the rapid deployment of
Enterprise Repositories supporting applications such as component-based
development, meta data management and change management. Adaptive's
products integrate with development tools from leading vendors including
Rational, Princeton Softech, Popkin and Merant. Adaptive also works closely
with partners including Unisys and Microsoft. The Company is based in
Bournemouth, UK, and has offices in California, USA.
About Interregnum plc
Interregnum plc is an IT investment and advisory firm. It works with high
potential IT entrepreneurs to develop, resource and implement aggressive,
marketing-led, value-building strategies and to 'transform technology into
wealth'. It currently has a portfolio of over 30 IT and IT-related
investments with holdings principally in hardware, software, services and
internet infrastructure businesses. Interregnum was established in 1992
and floated on AIM in March 2000. It is currently raising a £75 million
venture capital fund. For further information: www.interregnum.com
For further information contact:
Mark McGregor Eric Leach Pip Creed
Adaptive ELM Ltd Interregnum plc
+44 (0) 1202 449412 +44 (0)20 8758 7587 +44 (0)20
Adaptive Framework, Adaptive Enterprise, Adaptive Web and Adaptive Portal
are trademarks of Adaptive Ltd, UREP is a trademark of Unisys, other
product names used herein are for identification purposes only and may be
trademarks of their respective companies.
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