German software giant plucks London software outfit
my-Channels is now Software AG's
Software AG has hoovered up a UK-based messaging software developer founded by a bunch of Deutsche Bank alumni.
The German enterprise software vendor has bought out 13-year old London-based my-Channels for a sum reportedly in the low double digits of million euros.
my-Channels' "extremely fast (low latency) messaging software" - Nirvana - will be integrated into Software AG's platform to create a "unique universal messaging layer", the German firm said.
Striving for a hat-trick of industry buzz words, Software AG said this would be a major step in its "strategy for the in-memory management of big data" and would allow customers to stream large volumes of data to anyone, anywhere and on any device. A sort of Martini Rosso of messaging platforms, if you will.
my-Channels was founded in 1999, and has its roots squarely in the work of finance technology. Key staff, including CEO Paul Brant, COO Eddie McDaid, and architect Matthew Buckton, previously worked at Deutsche Bank.
It claims its platform is capable of "streaming hundreds of thousands of messages to many thousands of clients within microseconds" and that it is used by banks accounting for 40 per cent of the global foreign exchange market. The technology should find its way into Software AG's platform by the end of this year.®