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Application Networks  Acquired by Reuters (2006 $ 41,000,000 )

444 Ramona Street
Palo Alto, CA 94301
Website Company Summary Management Team


Former outside board: Albert Bokma (Gilde Investment Management);  Jos Henkens (Advanced Technology Ventures)

Business description: Application Networks Inc was founded in Palo Alto, CA at the end of 1998 by market practitioners and financial software industry veterans who had previously developed and lead Renaissance Software, a market leader in derivative software solutions until its acquisition by SunGard Data Systems (NYSE:SDS). On the basis that current systems comprised functional silos, costly to develop and to maintain and that prohibited cross asset / cross factor risk management, Application Networks invested heavily in a technology solution to allow the rapid development of applications spanning different business units. These applications share services and are predictably scalable. Both banks and the company have built business applications and delivered them into production in a fraction of the time it would have taken with traditional technologies. Application Networks now market a suite
Customers include: Wachovia;  SG CorporateAndInvestment Banking;  Société Générale
Partners include: BEA SystemsIBMOracleSun Microsystems

Rounds: 2
Capital raised: 12.2M
Ownership: Acquired by Reuters (2006 $ 41,000,000 )

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Record updated: Jun 2006
Sector: Software
Year Founded: 1998
Headcount: 11-25 as of Jun 1999
Rounds: 2
Capital Raised: 12.2M
Ownership: Acquired by Reuters (2006 $ 41,000,000 )