RealTime IT News

CEDROM-Sni Raises Financing for XML Software Subsidiary

CEDROM-Sni has gained the support of financial partners to market all of its XML-based software through its subsidiary IXIA.

The Fonds d'Investissement Desjardins of Montréal, Société Innovatech du Grand Montréal and CEDROM-SNi have collectively invested $1.4 million in spurring the growth of IXIA, a Montreal-based producer of software that manages and indexes XML documents.

Marketing of IXIA software centers entirely on an e-commerce strategy. The software, that enables companies to publish documents on their Intranets or on the Internet, can be downloaded from the IXIA site.

The company anticipates that over 95 percent of its revenue will originate from exports, mainly to the United States and Europe.

"This investment will let IXIA evolve within a high growth sector. The acceptance of XML language as a standard is growing so fast that it will equal the popularity of HTML language in the very near future," said Eric Bergeron, IXIA managing director.

Bergeron added that IXIA expects to capture a significant share of this new market.

XML, or eXtensible Mark-up Language, is the latest document formatting standard adopted by the World Wide Web Consortium, to which IXIA belongs. The increasingly popular standard is instrumental to the standardization of electronic information exchange on the Internet.

The XML software market is estimated at over $2.5 billion annually, according to CAP Ventures, a U.S. consulting firm specializing in electronic document management solutions.

Founded in 1998, IXIA is a subsidiary of CEDROM-SNi whose mission is to develop and market software that manages and publishes XML on Intranets and the Internet.