Amsterdam based UMX has just closed a second round of financing worth E1.5m. German VC Wellington Partners is lead investor, while Paris based iVOne and the Dutch government initiative, Twinning, also contributed. UMX received legal administration advice from Landwell. It will use the money to conclude the last bits of its development, and build a global support organisation. UMX is a software company. It says it is dedicated to opti-mising mainframe environment resources through the development of an Intel-based UMX Virtual Mainframe. Its initial focus is to develop educational and low-capacity production environments currently running on IBM S/390 mainframe hardware. The company has research facilities and laboratories in St Petersburg and Frankfurt.
It is well established in Europe, particularly Germany, Benelux, France and the UK, and is currently engaged in furthering its focus to include the US, Asia, Australia and South Africa. Its key customers are those with large IT environments. The company expects that this will be its last round of financing before it breaks even in mid 2002.
A likely exit for UMX is a trade sale to one of the companies active in, or aiming at providing state of the art S/390 solutions.
About UMX, based in Amsterdam, Netherlands, is a fast growing, innovative software development company, dedicated to optimizing its client’s mainframe environment resources. UMX initial focus is on development, educational and low-capacity production environments on IBM S/390 mainframe hardware duplication. UMX will also focus on E-commerce infrastructure, next to the more traditional mainframe market.
UMX has research facilities and laboratories in Frankfurt and St. Petersburg, where highly experienced mainframe developers are dedicated to developing the product range even further. All sales activities to end-user are carried out through established IBM System Integrators. UMX has an extensive network of business partners in Germany, Benelux, France and United Kingdom. Besides, Europe, UMX is also in the process of forging business partnerships in US, Asia, Australia and South Africa. UMX is an IBM Business Partner and is supported by the Dutch government.
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UMX Technologies B.V.
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