Platform Solutions, Inc. Secures Second Round of Financing Led by Goldman Sachs
SUNNYVALE, CA (ots)
Platform Solutions, Inc. (PSI), a supplier of Intel®-Itanium® 2 based Plug Compatible Manufacture (PCM) servers for IBM® z/OS® mainframe applications today announced it has received its second round of financing. The round was led by Goldman Sachs and affiliates and included initial round investors Blueprint Ventures, Interwest Partners, and Investcorp.
The Series-B funding will be used to further expand development efforts and provide operating capital for product introduction.
"PSI has numerous great ingredients -- a mainframe-seasoned management team, talented engineers, and patented virtualization technology -- that will reinvigorate the PCM market in a 64-bit world," said Joe DiSabato, Managing Director of Goldman Sachs. "The z/OS operating system has shown remarkable resilience to attacks from open systems competitors. PSI's ability to execute z/OS on an open systems server, also capable of running UNIX, Windows®, and Linux, will bridge these two worlds like never before."
"PSI will offer a world class alternative to IBM's z/Series and p/Series servers in a single reconfigurable system," said Michael Maulick, President and CEO of PSI. "Thanks to our Amdahl heritage and technology we will soon demonstrate our product to the market place. This added funding is targeted to provide us the ability to meet our capital requirements through profitability."
About Goldman Sachs
Goldman Sachs is a global leader in corporate equity and mezzanine investing. To date, Goldman Sachs has formed ten investment vehicles aggregating over $17 billion of capital. These investment vehicles seek long-term capital appreciation by committing equity to high-quality companies with superior management in a variety of situations, including leveraged buyouts, recapitalizations, and growth investments to fund acquisition or expansion. Goldman Sachs invests across a broad range of industries and creates value through meaningful involvement with portfolio companies' strategic decision-making and operating philosophy. For more information, please visit www.gs.com/pia.
About Platform Solutions, Inc.
Platform Solutions, Inc., in conjunction with key business partners, provides Plug Compatible Manufacture (PCM) servers for mainframe applications. Based on technology spun-off from Fujitsu®-Amdahl®, PSI offers mainframe computing datacenters alternative platform choice and the flexibility to bring together heterogeneous systems under a single managed environment. Privately held, Platform Solutions, Inc. is headquartered in Sunnyvale, California. For more information, please visit www.platform-solutions.com.
Contact:
Peter Rose
Goldman, Sachs & Co.
Phone: ++1/212/902'3144
Christian Reilly
Platform Solutions, Inc.
Phone: ++1/408/737'3430