Author: JT Smith
announced it has secured $4 million in a private equity-financing
round led by H&Q Asia Pacific. Transvirtual, which has developed a new,
open standards information appliance communications platform named XOE, said
the investment solidifies its position in the embedded systems software
marketplace.
“Transvirtual is an exciting investment opportunity for us given our
extensive wireless platform in Japan, the rest of Asia, and the U.S.,”
said
Brian Yeh, Vice President of H&Q Asia Pacific. “The company’s
eXtensible
Operating Environment (XOE) is well-positioned to capture a significant
share of the exciting and explosive market for Information appliances.”
Developed by Transvirtual, XOE integrates the eXtensible Markup
Language
(XML) with the company’s Open Source Kaffe® Java Virtual Machine (JVM).
The
result is a faster, cheaper and more flexible solution specifically
engineered for small, resource-constrained information appliances such
as
PDAs, Web-enabled mobile phones, automotive telematics and TV set-top
boxes.
Transvirtual plans to use the proceeds from this offering to support
the
continued expansion of operations, product development, marketing and
sales.
Founded in 1997, Transvirtual Technologies is focused on the
development of
software architecture enabling communication across all
resource-constrained
computing devices.
“It is gratifying that venture funds of this caliber have shown such
interest so early in the life of our company,” said Daniel Lewin,
Executive
Vice President of Transvirtual Technologies. “The support of investment
leaders such as H&Q Asia Pacific enables us to meet the demands of our
growing list of customers.”
Lewin noted that in the past year, the company has greatly expanded
marketing activity in the orient and has grown substantially. The
company
recently moved into new facilities in San Francisco. A technology demo
and
open house will be held July 12 in the new offices. The event includes
a
presentation by H & Q Asia Pacific Chairman Dr. Ta-lin Hsu. XOE’s
formal
product launch is set for November 2001.
XOE is the commercial implementation of PocketLinux, which has been
developed for information appliances running the Linux OS. Developers
interested in finding out more about Transvirtual’s Open Source efforts
can
visit http://www.transvirtual.com/developers.htm.
