10/30/2002 - Poet Holdings announced that it has spun-off the North American operation of its database business into an independent corporation known as FastObjects, Inc. In addition, Poet has announced that it has entered into an exclusive distribution relationship with this new corporation where FastObjects, Inc. will market and support Poetís industry-leading object oriented data management components throughout the United States and Canada.
David Guinther, formerly the Vice President of North American Field Operations for Poet, will serve as the President and CEO of FastObjects, Inc. Michael Schwieger, formerly the Director of Services for Poet, will serve as the Vice President of Services. The new company is based in San Rafael, California. Poet Holdings will hold an equity stake in FastObjects, Inc.
According to Mr. Guinther, "FastObjects will continue to focus on the unique business problem that we have solved for our customers over the years, which is highly reliable, high performance data management components for complex Java and C++ applications. Our FastObjects technology is embedded into a very wide array of sophisticated products: everything from voice-mail systems to blood analyzers, and from mass spectrometers to optical switches. With the founding of this new company, our customers will continue to reap the benefits from our award-winning, proven technology, our unique data management expertise, and our complete dedication to the success of their development projects."
According to Jochen Witte, President and CEO of Poet Holdings Inc., "This spin-off of the database portion of our North American operation makes tremendous sense for the North American customers, our former US employees, and for Poet Holdings. The management team and key personnel that has built up our successful North American database business over the last 5 years remains fully in place and is committed to even higher levels of performance in delivering our FastObjects technology and expertise to the C++ and Java developer community. As both a business partner and investor, we look forward to a long and successful relationship with FastObjects, Inc."
FastObjects, Inc. delivers high performance, industrial strength data management components for C++ and Java applications. FastObjects, Inc. is the exclusive distributor of Poet Software Corporationís award-winning "FastObjects by Poet" family of products throughout the United States and Canada.
About Poet Holdings
Poet Software and Poet GmbH are wholly owned subsidiaries of Poet Holdings, Inc., which is publicly traded on the Frankfurt Stock Exchange (Neuer Markt: POXA). In addition to the award-winning database product family known as "FastObjects by Poet", Poet also offers comprehensive supplier enablement applications for B2B eCommerce.
Previous Page | News by Category | News Search
If you found this page useful, bookmark and share it on: