OST Business Rules Ltd has received a 1m pound investment from UK venture capitalists 3i, to finance the next stage in its development as an enterprise application integration EAI company. London-based OST develops and markets the Business Rules software, an EAI package designed for financial institutions. The companyÆs directors claim the product is unique in EAI, as it is targeted at business professionals, rather than IT departments. Business Rules is designed to sit between front-office transactions and back-office accounts to simplify the transition between the two. The company was formed in July 1998, after several years of product development in OST Poland, and claims to be in profit already, on revenues of approximately 1.25m pounds. Most of its customers, which includes Standard Chartered, Warburg Dillon Read and Greenwich Natwest, are still in the implementation stage, which is typically three to six months.
UK EAI FIRM LAUNCHES WITH VC INVESTMENT
