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News Release from: London Technology Fund
Edited by the Manufacturingtalk Editorial
Team on 19 January 2007
Server appliance specialist investment
London Technology Fund invests in server appliance specialist ApplianSys
ApplianSys, which designs and builds server appliances, has attracted funding of GBP620,000 London Technology Fund (LTF), London's specialist investor in new technology companies, invested as part of a syndicate which included The Capital Fund and business angels
This article was originally published on Manufacturingtalk on 4 Dec 2006 at 8.00am (UK)
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Following the investment an experienced finance director will be appointed.
Server appliances are plug-and-play devices with integrated hardware and software, designed to do a specific job in a network.
They offer IT managers an alternative to installing network applications on general purpose servers.
Appliances are simpler to deploy and administer, more reliable and more secure, meaning lower costs and fewer headaches for technical staff.
The funding round will enable the company to develop its products as a specialist whose core competence is appliancing, within a growing, fragmented market largely served by specialists in particular application niches.
Commenting on the fundraising, Mike Clark, Founder and Chief Executive Officer of ApplianSys, said: "The London Technology Fund offers early-stage IT companies a route to bridging the funding gap which exists in the UK.
Its understanding of the particular dynamics of technology ventures and markets, allied with a rigorous approach to due diligence, gave reassurance to angels and so helped us secure co-investors alongside themselves and The Capital Fund".
"We now have the support and resources we need to build ApplianSys into a European leader in the growing market for server appliances".
David McMeekin, Chairman of the London Technology Fund and The Capital Fund, said: "We are delighted to have the opportunity to support this exciting company as it builds its presence in the global market for server appliances".
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