Lisle, Illinois-based Dynasty Technologies Inc is gearing up to announce the long-awaited version 3.0 of its application development tool of the same name at the end of this month – the first product release since Swiss-based investment company European Technology & Finance took its minority stake in the company (CI No 3,048). Dynasty has now lost Mike Wilson, the former chief operating officer, who was kept on in a consultancy role for a month after European Technology’s move. Founder Mike Lyons is still at the company, but only in a consultative role. Dynasty’s worldwide customer count is now 90, and includes a recent $1m win with Finnish Telecom, which is rebuilding all of its billing systems. Dynasty still plans to go public late this year or early next year. European Technology was set up by Giorgio Ronchias to act as a European investment fund. The idea is to buy minority stakes in private US companies, bring them to Europe and float them – the targets are usually companies, like Dynasty, that have good technology but cash flow problems. Ronchias is expected to exploit his industry contacts to help sales, starting with Sun Microsystems Inc.
