History (1999): Third Financial Round for Quadratec

Quadratec, a publisher of storage management software Time Navigator, is now in its third financial round, which enabled the firm to raise $5.6 million.

Participants this time were Vision Capital in California, Vertex Technology in Singapore, the French bank Societe Generale through 2 of its subsidiaries, the Compagnie Financière Edmond de Rothschild, and finally, the Swiss investment fund HPI.

Quadratec had previously raised $1.6 million in 1996 and $2.4 million in 1998. The small “French Legato” currently has a total capitalization of $34 million.

GM Christian Maillard anticipates entering Nasdaq in the 2 years to come, rather than in the second French stock market.

The company currently has sales offices in Germany, Spain, the UK and the US (in Reston, VA). Next stops: Italy, the Netherlands, Switzerland and Belgium.

For the fiscal year ended June 30, 1999, Quadratec achieved sales of $18.4 million, up 85% compared to the same period one year ago, and a net income that tripled, to $1 million.

Recent partnerships were signed with Ares, ATL, BMC, M4, NetApp, Plasmon, Siemens and Tandberg. Announced OEM agreements for the integration of Time Navigator within some of the major US computer companies should follow before long.

During the recent French expo, Stockage 2000, this software, which functions with Unix, NT, VMS, NetWare, Windows and now Linux environments, and which the company claims has been installed in 2,500 sites around the world, won the prize for best storage software, ahead of Legato’s NetWorker and Veritas’ NetBackup.

This article is an abstract of news published on issue 141 on October 1999 from the former paper version of Computer Data Storage Newsletter.

Note: Quadratec became Atempo in 2001.