Advantage subsidiary leaves the nest

Advantage boss, Tony Bradley, says it is the next step in preparing Viatx for future growth.

"The spin-off of Viatx represents the successful conversion of smart intellectual property into a standalone business.

"Our development role is now complete and it is time for Viatx to secure venture capital partners to fund the commercialisation phase. As we have previously announced it was not our intention to retain full ownership during the commercialisation phase."

Viatx is being purchased by a consortium headed by its CEO, Nigel Little, although Advantage will remain a distribution and implementation channel and keep an option for a future 25% shareholding in the company.

"This deal ensures our continued ability to leverage the technology and the potential to share in any future rewards", says Mr Bradley.

Several customers, including TelstraSaturn are currently piloting the Viatx technology, which delivers XML-based internet applications on a Microsoft platform.

The spin-off will see 10 staff transfer to the new company.

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

Advantage out of Strathmore
Advantage on course with Air NZ deal
Advantage launches first 'Air Cash' initiative with E-phone