Intalio plans VC funds to finance buying spree by 451 CAOS Theory -¸¤¤Î¼ª¡DogEar Www Dealtimeauto Lt Aidas Giniotis Uz Giriu Uz Kalnu 957 Deal Time Auto

Open source BPM vendor Intalio turns 10 this year and is looking to celebrate by raising the funds necessary to finance a spending spree to acquire 8-10 open source vendors.

Intalio’s CEO Ismael Ghalimi has sent an email to partners and users outlining the plan. He writes:

The past 12 months have been especially interesting. We doubled the size of our team, crossed the mark of 500 customers (in 52 countries), signed 36 implementation partners, made our second acquisition (Process Square, Germany), and raised a new round of funding lead by Partech International.

The next 12 months should be even more exciting. Most analysts agree that both BPM and Open Source are counter-cyclical. Being the leading Open Source BPM vendor, we expect our growth to further accelerate. In order to best capture this opportunity, we will raise a new VC round to fund 8 to 10 small acquisitions in the Open Source space.

In a previous email, also posted to his personal website, Ismael noted that “Four weeks ago, we closed a new round of funding that will take us to profitability sometime next year, and gives us ample cash reserves to survive even the steepest drop in revenue”.

It was my understanding that those funds would be raised in the following two quarters so it’s not clear whether Ismael is now talking about a additional funding round or just making use of agreed funds.

Either way the company is planning a number of acquisitions and Ismael has outlined the preliminary set of criteria it is using to judge potential targets: