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Investors to commercialize open source

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OSS

An investment venture will try to replicate the model of Gluecode, an open-source start-up acquired by IBM, with a fund dedicated solely to open-source software.

The venture, called Simula Labs, will take open-source development projects and seek to create businesses around them. That approach was employed at Gluecode, a company founded in 2001, which was bought by IBM earlier this month.

Simula Labs, which intends to announce its formation Monday, has gotten commitments from Redpoint Ventures and Mission Ventures to put in $10 million to $15 million for six to eight start-ups during the next three years. Winston Damarillo, who founded Gluecode and was chairman when it was sold, will act as CEO of Simula Labs.

Increasingly, entrepreneurs and venture capitalists are using open-source software and a subscription-pricing model to build new companies. In particular, the area of open-source infrastructure software, which is typically an expensive purchase for customers, has seen a great deal of activity.

One of the first ventures will be the creation of a company called LogicBlaze, which will be built around an open-source project called ActiveMQ, Damarillo said. The ActiveMQ software is an open-source version of standardized Java-based messaging software for sharing data between applications.

Simula also created a company called Mergere around Java-based software development life cycle tools.

Other areas Simula is looking at include directories and identity management, Damarillo said.

Full Story.

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