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Buckley, the former chief executive officer of Conduit Software, has joined US-based Peribit Networks as its president of EMEA (Europe, Middle East and Africa).
The company launched its sales and marketing effort in Europe on Thursday after securing USD20.5 million in venture funding from leading American financing firm Mayfield. Its European operation will be based in Ireland, but the company said it was too early to talk about prospective employee numbers.
Founded in May 2000, Peribit Networks uses techniques developed in the study of DNA to enhance the performance and capacity of IT networks. The company's Molecular Sequence Reduction (MSR) technology employs patent-pending algorithms that identify and eliminate previously undetected repetitions in data traffic flowing across wide area networks (WANs).
"The company's chief technology officer and co-founder, Amit P Singh, was doing PhD research in biomedical informatics on the design of advanced algorithms and computational models for the analysis of the recurring patterns in DNA," explained Buckley to ElectricNews.Net. "While doing this research, he and his brother, who worked in Intel as a chip designer, realised that the algorithms and models could also be applied to networks."
According to Buckley, Peribit has found that between 70 and 90 percent of traffic over WANs such as e-mail and Web browsing is repetitive and such traffic hampers network efficiency. The company claims that its first product offering, the SR-50, can increase network capacity by up to ten times over WAN links at speeds beyond T3 by identifying and eliminating as much as 90 percent of network traffic from the data stream.
SR-50 has been shipping since September of 2001 and, said the company, has already been used in Europe by US-based international companies such as BroadVision. "I was impressed to learn that some of Peribit's multi-national customers had already purchased and deployed equipment in Europe without local support," commented Buckley. He added that the company is also currently talking to a number of Irish businesses about using its technology.
Buckley, who prior to his role at Conduit was 3Com's EMEA vice president for channels, said that he had been attracted to the company by its "exciting" technology and the ability of this technology to reduce costs.
"In the IT world, it often seems that technology is developed for technology's sake. However, Peribit's technology has a number of hooks, not least its ability to reduce WAN costs and in the current cost-cutting climate this is very timely," he remarked. Additional benefits of the technology, he added, were its small foot-print and quick installation time.
Peribit Networks can be found at http://www.peribit.com.
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