AppSense chief executive Darron Antill said the company would use the funds to expand the company geographically and grow the business ahead of a possible initial public offering
Goldman Sachs has made a $70m (�43m) investment in British software and services firm AppSense.
Darron Antill, chief executive, said the company would use the funds to expand the company geographically and grow the business ahead of a possible initial public offering.
AppSense's clients include BT, ESPN, JP Morgan Chase and United Airlines and the Department for Work and Pensions (DWP). It specialises in "user virtualisation" ? tailoring work software so that a company's employees can access their work and programs they use anywhere on any device.
Antill said the increasing use of mobile devices, tablet computers and laptops meant user virtualisation is driving sales. The company now has offices in New York as well as London and Manchester, Germany and Australia. Revenue was just under $50m last year and the firm is on track for 60% growth this year.
Antill said the firm had concentrated on North America in the last 12 months. He said the investment would allow AppSense to broaden its reach while developing cloud-based, mobile and other services. "Users today like to be able to manage their work independent of any particular platform or device," he said. "Goldman's investment is a step change in our business and a recognition that we are a leader in this space."
Pete Perrone, managing director at Goldman Sachs, will join the company's board of directors. "With the increased mobility of the workforce and the need to be able to access information from any device, Goldman Sachs sees a clear demand for user virtualisation solutions that span multiple desktop delivery methods," said Perrone. "AppSense's strong customer traction, history of innovative solutions in desktop computing, and the record growth it has experienced over the past two years further solidified our decision to invest in the company."
Source: http://www.guardian.co.uk/business/2011/feb/23/goldman-sachs-invests-in-uk-software-firm
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