IntervalZero said that it has acquired Ardence’s Embedded software business from Citrix Systems (News
), and the new company will be led by a group of senior Ardence executives.
The team of IntervalZero consists of the Ardence Embedded software group’s management, engineering, development, sales, marketing, finance and support professionals with understanding of Ardence's Embedded customer base, products, and technology marketplace.
Waltham, MA based company is now headed by Jeffrey D. Hibbard, an Ardence/Citrix executive with more than 20 years of software engineering, sales, marketing and management experience.
“The IntervalZero team proudly continues a 28-year tradition of developing and delivering innovative software solutions for our customers and for the Embedded computing markets,” said Hibbard.
He also said that selecting the name IntervalZero highlights company’s “intense focus” on continuing to develop innovative Embedded products that deliver the real-time, instant-on functionality that has been embraced by thousands of customers worldwide, including Boeing, Siemens, Honda and Raytheon (News
In January 2007, Citrix had acquired Ardence's Enterprise and Embedded software businesses. Citrix officials said that their company determined that the Ardence Embedded products were not a good fit for its Enterprise product portfolio.
However, Citrix said that it has confidence in the IntervalZero’s management and in the future of Embedded technology by making an equity investment in IntervalZero.
Lou Shipley, vice president and general manager of Xen Products Group at Citrix, said that the company believes that there are significant opportunities in Embedded technology, but it is not a core business for Citrix.
“To continue to grow and succeed, the Embedded business needed both the focus and the investment that Jeff and the IntervalZero team are fully committed to delivering,” he said, adding that their approach to “the market and their business model are sound, which is why we have maintained a stake in the IntervalZero.”
IntervalZero officially completed the acquisition on July 15. The company plans to market and sell the Embedded products under their existing names—RTX, ETS and Select.
The companies did not disclose the financial details of this acquisition.
Anshu Shrivastava is a TMCnet Contributing Editor.
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