Following 3m pounds of private investment, UK based Architecture Projects Management Ltd has opened a new office in the US, with plans to launch its first commercial product in the summer and float on the US Stock market next year. The Cambridge based company’s managing director retired last year, clearing the path for the appointment of American Scott Metcalf, former president of Hal Computer Systems Inc, now owned by Fujitsu Ltd. APM was established in 1988 primarily as a research company dabbling in object technologies, supplementing its income with consultancy, project management and training. The company will release its first commercial product in June, a Java-based security device designed to enable users to place more trust in transactions between the Internet and company intranets. The decision to open offices in Los Altos, California came as part of a move to expand APM on an international basis and ease into a commercial market where the Internet is at its most prominent. APM’s chief technical officer, Andrew Herbert said: When it comes to the UK and European markets, it is far easier to invade from the West. With a staff of 40, around 15 people will be based in the California office where the marketing, sales and support side of the business will be run from, while the UK office will be home to the engineering team. APM has also said that it has plans to float on the stock market probably at some point next year, with the US market looking to be the most attractive according to Herbert. APM is growing at a rate of 10% a year, and Herbert said that financial figures to be released soon will show an annual revenue for last year of around 2m pounds. The company will continue to carry out research and consultancy services, the plan being to expand all areas of the business.
