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Technology / AI and automation

SEQUENT LANDS $6m DUTCH CASH FOR EUROPEAN EXPANSION

Sequent Computer Systems Inc will be taking the European market seriously during 1987 and is to invest around $4m to developing European bases with a view to Europe accounting for one third of its total revenues by the end of the year. The company, based in Portland, Oregon, intends to set up its European base in Amsterdam in the Netherlands over the next couple of months and has this week opened its UK sales base in Hounslow, Middlesex which will also act as the European training centre. The funds for the European development will largely come from a newly announced investment of up to $6m in Sequent from the Maatschappij voor Industriele Projecten NV Equity Fund of The Hague, Netherlands, making it Sequent’s largest investor. The fund is similar to Britain’s development agencies, and ties venture capital investment to commitments to create local jobs of the right kind. Sequent intends that the European base will include in the near future a research and development group that will satisfy the fund by providing suitable employment for a large number of the Netherlands’ computer science and engineering graduates. Later in the year the parallel processor manufacturer intends to set up offices in Paris, France and Munich, West Germany. Sequent says that it has around 20 revenue-generating installations in Europe out of a total worldwide installed base of 150 machines. Additionally Sequent has an OEM contract with Siemens AG for the Balance 8000. Siemens has announced the first fruits of this ‘technology exchange’ agreement in West Germany with its three-model MX 500 line, based on the NS32032-driven Balance 8000; Siemens is scheduled to announce the machine here next week.

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CBR Staff Writer

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