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The University of Manchester is celebrating a trans-Atlantic ‘first’. Transitive Technologies Ltd. is the first company to be spun-out from the University with its commercial base in the USA.

The venture capital company Pond Venture Partners have led a $3 million investment in Transitive Technologies Ltd, a University of Manchester spin-out company which will develop software optimization technology.  The Manchester Technology Fund (the University Challenge Seed Fund) is investing $300,000.

John Graham, formerly VP Marketing, Computer Products, with Conexant Inc, in San Diego, has been appointed CEO. “The combination of fundamental core technology, a strong development team and large rapidly expanding target markets creates an exciting opportunity for substantial company growth”, said John Graham whose initial tasks include establishing a US operation to interface with key customers, many of whom are based in California. Transitive has also taken offices in King Street, in Manchester’s financial centre.

Richard Irving, CEO of Pond Venture Partners and Chairman of Transitive, said  : “Transitive is organizing itself to grow like a Silicon Valley company but leveraging the substantial software skills available in Manchester.  Given Pond’s successful track record in building such US/UK start-ups to a very lucrative exit point for employees, we are confident that Transitive will enjoy such success.”

Transitive Technologies product development plans are based on the research of Alasdair Rawsthorne in the University’s Computer Science Department. Alasdair is joining the company as Chief Technology Officer, to manage the operation of the Manchester-based technical team, which will include a number of Alasdair’s students.  Also joining the company are Ian Cottam and Martyn Spink; both are former lecturers in Computer Science at The University and both have both developed substantial experience in safety-critical software industries.

The connection with The University of Manchester has been sealed by the appointment of Prof. Steve Furber to the board of Transitive Technology.  Steve has extensive business experience and a world reputation for his research on asynchronous versions of the ARM™ microprocessor family.

Transitive will have an impact on the local economy as the company is looking to recruit more than a dozen of the very best new graduates, postgraduates, and experienced software engineers over the next 12 months to add to the current team of 10.

Pond Venture Partners

Pond Venture Partners Ltd. manages venture capital funds exclusively targeting early-stage technology companies in the UK and Europe.  By working closely with founders and management to add value to its companies, through customer introductions at senior levels, helping establish US and Japanese operations, and managing subsequent venture rounds, Pond is bringing Silicon Valley-style venture capital to Europe. With offices in London, Silicon Valley and Tokyo, Pond has $90 million under management.  Pond is regulated by IMRO.  For more information please see our web site at www.pondventures.com

Transitive Technologies

Transitive Technologies Ltd. supplies software optimization technologies to the systems integration industry.  Using our unique view of the positioning of software optimization in the engineering of end-user systems, Transitive is opening up new degrees of freedom in product design, offering the potential for increased performance, shorter design times, and more responsive products.  Transitive’s technical team is based in Manchester, England, and it has a significant presence close to major customers in California.  For more information, please call Alasdair Rawsthorne on 0161 935 8138.