Sunday, August 7, 2005

GigaSpaces Raises Funding from Intel for Grid-based Servers

GigaSpaces Technologies, a developer of grid-based application servers for transaction intensive, business-critical applications, announced that Intel Capital will join the recent financing round which was led by BRM Capital. Intel's investment will bring the total funds raised to $ 6million. Formula Vision, GigaSpaces' major shareholder, also participated in the round.

GigaSpaces provides high throughput, low latency applications with a grid-based application server, which delivers all the necessary distributed application services, such as distributed caching, parallel processing and a distributed messaging bus. These capabilities enable large enterprises in a variety of industries (Financial Services, Telecom and Defense) to rapidly develop and deploy distributed applications over low-cost infrastructure.

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