06 Aug 2012
ICON Corporate Finance has advised my-Channels on its sale to Software AG (Frankfurt TecDAX: SOW).
my-Channels provides extremely fast (low latency) messaging software which will enable Software AG’s customers to integrate their enterprise applications, cloud based applications, and mobile devices through a unique, universal messaging layer. Customers will now have the ability to stream large volumes of critical data to employees, customers and partners anywhere, over any channel to any device.
This is a major step in implementing Software AG’s strategy for the in-memory management of Big Data. “This acquisition, as an integral part of our portfolio strategy, will give our customers a huge competitive advantage. An advantage in terms of the performance of their internal enterprise communications today and in the flexibility and scalability provided in adopting new information delivery channels, as they emerge, to external customers”, said Software AG CTO, Dr. Wolfram Jost. “This technology will play a fundamental role in customers successfully and cost effectively implementing their own Cloud, In-memory, Big Data or Mobile application strategies.”
my-Channels was founded in 1999 and has its headquarters in London. Nirvana, my-Channels’ message oriented middleware technology, guarantees delivery of real-time data between multiple platforms and to enterprise, Internet, Cloud and mobile users. It is used primarily in the financial sector as an enterprise class, low latency platform that streams real time data to customers and partners. It is currently in use by banks that account for 40% of the global FX market volume and provides streaming for four of the top eight FX e-platforms by market share. It is being increasingly adopted by a wide range of businesses, from e-Commerce to the public sector, that need flexibility, scalability and real-time data delivery across a growing number of channels, application frameworks and devices.
"From the outset of our conversations with Software AG it was very clear that the incorporation of my-Channels Nirvana into Software AG's existing product suite made complete sense", says my-Channels CEO, Paul Brant. "I am very confident that this acquisition, and the technology integration that will follow, will also make sense to both my-Channels and Software AG customers. The combination of the two product portfolios will open many new application areas that will be of great interest to our customers."
Eddie Harding of ICON Corporate Finance who advised my-Channel’s management on the sale said “There is a very strong strategic fit to this acquisition. Nirvana has been widely accepted as the fastest solution for real time streaming of data across Enterprise, Web and Mobile clients within the Financial Services sector, and this transaction gives the opportunity to scale it across a wide range of other verticals throughout Software AG’s global customer base.” Software AG plans to certify interoperability of my-Channels Nirvana with the webMethods suite to coincide with the release of Nirvana 7 in Q2 2012. The first integrated release is targeted for Q4 2012, which will give customers a choice of messaging options within their webMethods integration platform implementations.