Feeds

NetStore gets £3 million from 3i and two clearing banks

System will ensure road warriors obey the rules

  • alert
  • submit to reddit

Top 5 reasons to deploy VMware with Tegile

3i has brokered a funding deal for the NetStore Group in which it, NatWest and Barclays Ventures will fund the services company to the tune of £3 million. This is the second round of funding for NetStore. In the first round, 3i financed the deal. Daniel Morgan, a senior consultant at 3I, said: "As an investor, you need to listen to people's ideas and then shape them." NetStore has a large deal with networking company Cisco. Whenever a Cisco employee logs on to the corporate network in Europe, an agent, which uses the TCP/IP protocol, takes stock of the software on employees' notebooks, backs up their files and performs asset checks. According to Sean O'Reilly, managing director of startup NetStore, he is already in discussion with a number of resellers about the project. A source at the company said Computacenter was interested in licensing it to its corporate clients. The additional £3 million investment means the two banks and 3i now own 26 per cent of the equity in the company. Its valuation is now £11 million and it is expected to either float on the stock exchange or be bought within the next six months. The Cisco representative would not say whether his company was interested in taking it over. ® NetStore

Top 5 reasons to deploy VMware with Tegile

More from The Register

next story
BIG FAT Lies: Porky Pies about obesity
What really shortens lives? Reading this sort of crap in the papers
Be real, Apple: In-app goodie grab games AREN'T FREE – EU
Cupertino stands down after Euro legal threats
Assange™ slumps back on Ecuador's sofa after detention appeal binned
Swedish court rules there's 'great risk' WikiLeaker will dodge prosecution
prev story

Whitepapers

Choosing cloud Backup services
Demystify how you can address your data protection needs in your small- to medium-sized business and select the best online backup service to meet your needs.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
How to determine if cloud backup is right for your servers
Two key factors, technical feasibility and TCO economics, that backup and IT operations managers should consider when assessing cloud backup.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
The Heartbleed Bug: how to protect your business with Symantec
What happens when the next Heartbleed (or worse) comes along, and what can you do to weather another chapter in an all-too-familiar string of debilitating attacks?