CASSATT ANNOUNCES STRATEGIC INVESTMENT AND LICENSE AGREEMENT WITH IN-Q-TEL
July 19, 2005
Cassatt Corporation, an enterprise software company delivering solutions for the emerging IT automation market, today announced a strategic agreement with In-Q-Tel, an independent, private, not-for-profit company funded by the Central Intelligence Agency (CIA). In-Q-Tel selected Cassatt Collage technology to help solve cost and complexity issues in government IT operations. The agreement includes a purchase of software licenses and an investment in Cassatt Corporation.
“Government agencies have been tasked to improve the utilization and reliability of their IT systems and reduce the time and money required to manage their IT environments” said Gilman Louie, President and CEO of In-Q-Tel. “Cassatt’s IT automation technology has the potential to provide an immediate improvement across all of these areas.”
Bill Coleman, the original CEO of BEA Systems, founded Cassatt in 2003 to solve the problem of managing scale in commodity computing. As government IT moves to reap the benefits of commodity hardware and software, the operations and management expenses have soared. According to IDC, in the early 1990s companies were typically spending 25 percent of their IT budget on management and administration. Today that number exceeds 70 percent. Meanwhile, the complexity of scale – managing hundreds and even thousands of servers – threatens the performance and the reliability of the underlying systems.
Cassatt provides a simple, automated solution to the most expensive IT run-time operations scenarios challenging government today, including: delivering compute resources to meet spikes in activity, redeploying resources based on schedule, reducing unplanned downtime, upgrading and patching to large numbers of servers, and auditing for billing and compliance. Cassatt’s Collage product provides an operational platform for scale-out commodity hardware environments, and can be implemented without changes to current applications or infrastructure.
About Cassatt Corporation
Cassatt provides enterprise software and services to automate the operations and management of IT for on-demand computing. Cassatt’s Simply On Demand solutions reduce IT costs and complexity, boost performance and asset utilization, and require no changes to a business’ IT infrastructure or applications. Founded in 2003 with headquarter offices in San Jose, California, Cassatt is a private company with financial backing from Warburg Pincus and NEA. For more information, visit www.cassatt.com.