ObTree’s OC Arm Looking for Deals With New Funding
By ANDREW SIMONS
Switzerland’s ObTree Technologies Inc. has landed $10.8 million in funding, and its Aliso Viejo unit is slated to be a big recipient of the money, according to Mike Sanford, Obtree’s North American vice president.
Company officials wouldn’t specify how much the North American arm would get, but said it was well more than $1 million.
ObTree makes software that helps companies manage content they want to present on the Internet or on corporate intranets. The company sells its products by integrating them into software from other developers, which can be cumbersome and time-consuming.
“We want to find people who will be able to put our products into their products, and that takes a significant investment from both sides,” Sanford said.
ObTree sells its software to Austin, Texas-based Vignette Corp. and Redwood City-based BroadVision Inc.
Several big names took part in the funding, including Credit Suisse Group and London’s UBS Warburg. Private investors also put money into the deal.
ObTree has been trying to develop partnerships in North America and hopes part of the money will allow the company’s five person team in Aliso Viejo to land more U.S. contracts. Among the Orange County names ObTree plans to hit up: Costa Mesa-based FileNet Corp., OC’s largest software maker.
The company has had its Aliso Viejo operation for a year. The company has no plans to hire additional employees with the money, putting all of the funding toward finding new customers and integrating its software with them, Sanford said.
“We’re going to get funded to develop strategic alliances,” he said. “The focus of our U.S. business is to sell through partners.”
The new funding comes as ObTree has undergone a restructuring. The company’s current chief executive Frank Boller recently replaced outgoing Manuel Ebner, who the company said stepped down for personal reasons.
ObTree also sold off several non-software businesses to focus only on developing and selling software, a business that traditionally offers better profits.
“We are now a pure software house operating on a partner-focused business model,” Boller said in a statement.
