Princeton, N.J.-based software \maker Princeton Softech has penned a $21 million acquisition deal with Apax Partners Inc., and co-investor LLR Partners Inc., which will allow Softech to spin off from its parent company, Computer Horizons Corp., Mountain Lakes, N.J.
Greg Case, General Partner at Apax Partners, Inc. "We believe there is great value in helping a subsidiary of a large firm to set out on its own, particularly when -- as in this case -- the company has a strong value proposition, proven technology, large base of satisfied clients."
According to CEO Lisa Cash, Princeton Softech now has the financial power to accelerate its plans to bolster its position in the archiving market.
Cash said the investment will be applied toward marketing, business development and product development.
Stamford, Conn.-based analyst firm The Meta Group predicts that corporate databases are growing at a rate of 40% per year -- a growth rate that will quickly overtake the pool of skilled database administrators out there.
"The market for active archiving solutions is large and will continue to be a fertile market for both mainframe and open systems," stated Rich Evans, vice president of Enterprise Data Center Strategies for META Group.
According to Princeton Softech, active archiving can improve application performance on production databases by moving infrequently used data from production databases and putting it in an "active" archive on a cheaper storage system until a restore is needed.
While it sounds like Hierarchical Storage Management (HSM), Softech said unlike traditional archiving and HSM programs that deal with entire files, data that has been actively archived can be restored one record at a time. Also, the referential integrity or context of the data is maintained, which means that the relationships between the records still exist.
Late last year Princeton Softech brought its product, which previously ran only on OS/390 mainframes, to open systems environments.
Princeton Softech is headquartered in Princeton, New Jersey with offices in the Australia, Austria, Benelux countries, France, Holland, Switzerland and the United Kingdom.Let us know what you think about the story, e-mail Kevin Komiega, assistant news editor
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