RiverSoft

Last updated

RiverSoft plc
LSE:  RSFT (Former ticker symbol)
Industry Software
Founded1997 (private company)
2000 (public company)
FounderPhil Tee
Headquarters
London
,
United Kingdom
Key people
Carl Symon
(non-executive chairman)
Tim Murray
(chief executive)

RiverSoft plc was a publicly limited company listed on the London Stock Exchange, in 2000. It developed and provided network management software for monitoring and managing Internet Protocol networks. [1] The company is now delisted. [2]

Contents

History

RiverSoft was founded, in 1997, by Phil Tee after he left Micromuse, a former competing company which was founded in 1987 when Tee was a student known as "The Fresher's Friend". [3]

Riversoft began to flounder in 2001. "Shares in Riversoft, the network management software group, plunged almost 25% on Monday morning as the company warned that "a sudden and severe deterioration" in the completion of orders led to second-quarter sales significantly below expectations. "I have never seen a quarter unravel so quickly. Things went from OK to dire in the space of a week at the end of the quarter. We were at the stage where we had met technical requirements, agreed contracts and drawn up the paperwork only for the deal to be closed down in the finance department," Phil Tee, chairman and chief technology officer, 3 July 2001.(source The Financial Times)

In September 2001, it was announced that RiverSoft would partner with Concord Communications Inc. to provide real-time network and performance management software to Interxion. [4] Concord Communications Inc. was later acquired by CA Technologies in 2005. [5]

In November 2001, the board saw several changes with Carl Symon, former head of IBM in the UK, joining as non-executive chairman, and Tim Murray from AT&T taking the role of chief executive. [6]

In 2002, RiverSoft was bought by rival firm Micromuse for £43m in cash. [7] Micromuse was then acquired by IBM, in 2005, this resulted in Micromuse's network management software becoming part of what is now the IBM Tivoli Framework. [8]

Awards

RiverSoft won Best Software Infrastructure Product and Best Presentation at the Gartner's Winter 2001 Enterprise Vision Conference in Phoenix, Arizona. [9]

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References

  1. ↑ "Riversoft announces placing price of 94 pence per share". Prnewswire.co.uk. Retrieved 1 October 2012.
  2. ↑ "RiverSoft PLC". Bloomberg.com. 27 September 2012. Retrieved 1 October 2012.
  3. ↑ Finance. "Tee surrenders Riversoft to rival". Telegraph.co.uk. Retrieved 1 October 2012.
  4. ↑ "RiverSoft and Concord Partner to Provide Next-Generation Fault Management and Performance Solutions". Intc.com. 25 September 2001. Retrieved 1 October 2012.
  5. ↑ "CA to buy Concord Communications for $330M in cash". Bizjournals.com. 7 April 2005. Retrieved 1 October 2012.
  6. ↑ "Boardroom shuffle at RiverSoft". Standard.co.uk. 6 November 2001. Retrieved 1 October 2012.
  7. ↑ Nick Goodway (19 June 2002). "Micromuse nets Riversoft for £43m". Standard.co.uk. Retrieved 1 October 2012.
  8. ↑ "Tivoli Netcool/OMNIbus". 01.ibm.com. Retrieved 1 October 2012.
  9. ↑ "Award Press Release". E-creation.co.uk. Archived from the original on 10 October 2006. Retrieved 1 October 2012.


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