Arbortext beefs up management, finances
XML vendor Arbortext is reorganizing its management and finances to gain marketshare in the product information management space.
The four finance, sales and marketing executives, from PictureTel, Rational Software and Kenan Systems, respectively, will drive business for Arbortext's Adept SGML and XML editor and recently-released Epic product information management solution.
"We are strengthening our commitment to growing Arbortext beyond a technology company to become an industry leader that delivers innovative solutions that address critical business issues," said Arbortext president and CEO Bob Crowley.
Arbortext has also received $10.25 million in a second round of venture capital financing to be used primarily for expanding sales and marketing efforts. Investors include Invesco Private Capital, Norwest Venture Partners and Access Capital.
"XML is currently one of the hottest technologies and we view Arbortext as the industry pioneer," said Alessandro Piol, managing director of Invesco Private Capital, a global investment manager with over $250B in assets.