Bullant rustles up another $40m

Bullant, the privately owned Australian company that is attracting international attention for its Internet accelerator software, has attracted more than $A40 million in a private capital raising from a consortium led by JP Morgan Equity Partners. The financing will allow Bullant to begin a program of international expansion, with a focus on OEM licensing to big name players in the US, Europe and Japan.

Gary Aitchison, CEO of Bullant, said the investment validates the company's technology and is an indicator of its potential market impact. "We have the only software infrastructure capable of delivering smart applications to very large numbers of different devices over wireless networks," he added.

In the wake of the investment the company will undertake a reorganisation that will lead to the retrenchment of some 29 staff to reduce Bullant's total workforce to 143. The company intends to set up new sales teams in the US, but in Australia will shift the bulk of its sales and marketing activities to resellers.

Solution 6 back on the acquisition trailNeil Gamble, recently appointed CEO of Solution 6, has maintained the company's earlier and somewhat ill-fated policy of expansion through acquisition by taking over software developer Perfect Technology. The transaction will be financed by a swap of shares and cash.

Perfect Technology develops software for the Apple Macintosh and Windows environments for users in the legal, advertising and TV commercial production industries. The applications are integrated with software from other developers to provide integrated solutions, a spokesman explained.

Late in December Solution 6 announced that it had acquired IT consulting services supplier Horwarth Computer Systems, the distributor of CMS Open in the Asia/Pacific region, by way of a share swap. CMS Open is the flagship product of CMS/Data, which was acquired by Solution 6 in October 1999.

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